Monday, June 12, 2023

Initiatives

It’s important to optimize business management capability and capacity, harness innovation, encourage progressive changes, and unlock business performance coherently.

With today’s business complexity and frequent disruptions, organizations need to bring greater awareness of the intricacies and the systemic value of business systems, information abundance, technological efficiency, business processes, people dynamics, or resource alignment. 

An effective change is only attainable with a well planned exercise involving current and future state dependencies along with leadership influence to adapt to the new normal. Only business initiatives that support the achievement of strategic objectives should be implemented.

It’s crucial to enhance a cycle of “ Business Planning–>Business Architecture Design -> Implementation of business initiatives-> Strategy realization”: Businesses intend to deal with problems large or small for producing better results everyday. Any initiative, even a very technical one, should have a business objective associated with it. For the large scale of business initiatives, it’s important to establish a cross-functional team to involve multifaceted management. Business Architecture provides the building blocks that enable the organization to implement its Strategic Plan, orchestrate business initiative portfolio, and improve organizational maturity. As business architecture enables a holistic view, analyzing all critical success factors and application of methods through understanding contextual knowledge of business elements and dependencies, to ensure the overall portfolio management effectiveness.

With proper business architecture, space and time are made to scope, plan, and execute in a structural way. It’s crucial to leverage the business architecture view, define the priorities in a logical and visible fashion; provide a holistic understanding of intentions and goals of varying business initiatives, to ensure the business initiative fits for the big picture of organizational transformation. Organizational management has an idea of how to fine tune structures, reduce costs, supported by a reduction in duplication of platforms, people and processes efficiently. They develop a compelling business case which describes the business initiative’s benefits and costs flow is especially critical when a business initiative is difficult to monetize. That is, attaching believable dollar values to identified benefits flows.

It’s important to clarify the logic steps for the inclusion scenario: “Inclusion = Engagement, Innovation, Retention, Loyalty, and Productivity”:
The future of work encourages the growth mindset and contemporary organizations encourage teamwork, giving everyone a voice about how the people in it can prosper and thrive. Innovation, inclusion, and improvement will come from all of the workforces and become a solid knowledge builder. It’s important to reimagine, re-architect, and co-develop an innovative organization via a clear vision, interdisciplinary expertise, inclusive cultures.

An inclusive working environment can harness communication, stimulate fresh ideas, and nurture innovation success as the value of inclusiveness lies in the contributions of the individual to the success of the organization. Even though people have different intent, personality traits, learning/working styles, Inclusion efforts and empathetic communication can bridge leadership and innovation gaps. Foreseeable leaders and professionals can figure out how to trend the future, capture great opportunities to grow, and build a complementary team to generate great results regularly and frequently. The organizational inclusiveness efforts need to focus on cognitive differences, skills, abilities and the wealth of ideas.

It’s excellent to enforce “guide, coach, suggest, set expectations, motivate, develop” cycle of business management: Often, business initiatives at the strategic level are not isolated, but require a holistic management approach. Business leaders need to guide the business with a clear vision, spend their time with business teams, and clarify which direction is progressing. The management figures out the ways to ensure that the team members can align their career goals with the business goal, and perform at their best for the future. Organizational alignment combines the structure and direction of top-down strategic planning with the pragmatism of bottom-up insight.

Sometimes people are unaware of their potential; so the efforts to motivate people need to be done regularly on a sustainable basis. Guiding and guarding go hand in hand. Monitoring the change pulse of the company is about assessing needed business traits such as agility, flexibility, resilience, or speed. So business management can establish guidance, coach, suggest and collect quality feedback, set the right expectations, motivate people to make progress, and develop talent to fit for the long term business prosperity.

Any business initiative, even though a very technical one should have a clear business objective associated with it. The more stakeholders can impact business initiatives seriously, the better chance the initiatives will achieve or exceed the business expectations. It’s important to optimize business management capability and capacity, harness innovation, encourage progressive changes, and unlock business performance consistently.

0 comments:

Post a Comment