Tuesday, June 13, 2023

Initiatives

Organizations have to reinforce a set of clearly defined digital principles, always take process improvement and business optimization as a journey, for managing change, scaling up and amplifying business effects.

Organizations are complex, functioning, growing, continually via learning, innovating, and constantly evolving. Organizations are different, they have different vision, they have different structures, they compete in different markets, they have a different scale. The reality is that organizations that do not respond to external environmental changes will become irrelevant, as nimbler companies take their market shares and customers. 

Organizational management should explore the “critical success factor” to clarify effective value propositions, diagnose crucial issues, identify gaps, assumptions, risks, and avoid the pitfalls on the way, in achieving business performance excellence.

Organizations today have to keep improving information flow and increase business agility: Information is growing overwhelmingly, information-based organizational planning, connectivity brings data-based insight, fine-tunes underlying business functions and processes to bridge silos, captures business opportunities, prevents emerging risks, improves decision effectiveness, and amplifies digital impact across the organizational ecosystem. Information management is the scientific management discipline of business orientation to achieve long-term success.

Organizational refined business insight based on reliable information is the means to end, for achieving high performance. With quality business insight, organizations can track the behavior of the past decisions to support future business directions effectively. Predictive analytics can be used to predict the customers’ needs, the future product/service trend, talent management, etc, for improving future performance of the business.

Organizations need to take a balanced approach to manage business initiatives in a structural way: Organizations and their people must learn through their interactions with the business environment. It requires the balance of “old experience” and “new ways to do things”; listening and telling; learning and doing continuum. Business management needs to set the right priority, and use resources scientifically to build core competency, understand how the business initiative restores the organization to competitive parity.

Organizations have to achieve certain financial targets quickly but they are, in many instances, unsustainable. It's not until they can strike the right balance of strategic discipline and operational excellence. Senior management should take a holistic view, apply interdisciplinarity for planning, and practice integral digital management for improving organizational performance and maturity. Organizations must address their common and unique capability requirements and map that out through some sort of skills/competency matrix within their organization. Take dynamic planning and balanced approaches to manage business initiatives. Without that whole picture, separate parts of the organization will care for their own part, but the business as a whole has friction and cannot maximize the performance.

Innovative organizations have a clear understanding of how customer-centric approaches enhance the business model and extend profitability:
Forward-looking companies strive to run people-centric organizations. Everything from how pricing is affecting close times and support calls to referral business activity triggered by high customer satisfaction. While some companies could increase profit in the short term, to lose a customer-centric approach will impact the bottom line in the long run. So the conversation is how you use employees as mechanisms in a process to transform an input into an output for optimizing customer experience.

Organizational management should set people-centric tones; let a team self organize into something that is fair and that enables everyone to have an equal voice and contribute their best; so the team is compelling to solve complex problems that matter and improve their collective performance. Organizations have a strong sense of how to develop customer-centric programs within the business. That means refining customer insight, building the infrastructure to combine technology and business tactics to optimize customer experiences by reversing erosion in customer loyalty, ensuring customer experience is interactive, and customer success is proactive.

Organizations must begin thinking about ways with strategic planning to broaden their ecosystems and revenue streams which become more responsive and flexible. They develop differentiated competency and make process improvements to meet or exceed long-term goals. High-performing organizations have to reinforce a set of clearly defined digital principles, always take process improvement and business optimization as a journey, for managing change, scaling up and amplifying business effects.

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