Wednesday, July 19, 2023

Initiatives

It is important to cultivate organizational learning agility, do deep analysis, discover patterns, identify what generates the most value for the company and express that in strategic objectives.

Organizations today are inundated with the sea of information, overwhelmed with too many business initiatives, and overloaded with daily tasks and short term business concerns. The very goal of business initiative management is to align key success factors of the business with strategic goals, streamline business resource, process, talent, capacity to improve overall organizational effectiveness and agility. 

Strategically, you need to envision the future trends, cultivate a climate that is conducive to quality, growth, innovation, get quality out of anything you do, create business synergy and reach the next level of organizational maturity.

Initiative discovery analysis in fine-tuning business management: In many circumstances, business managers know that 20 percent of the work (the first 10 percent and the last 10 percent) consume 80 percent of their time and resources. Just like the old saying: “the good beginning is half way to success”;” the last but not the least..” Always take all crucial steps seriously, have a great beginning, and wrap up carefully. For the large scale of business initiatives, it’s important to establish a cross-functional team to involve multifaceted management, interdisciplinary disciplines, and cross-dimensional practices.

Organizations have limited resources and talent, business management needs to make an objective assessment of their resource availability and allocation, seek to determine whether the deficiency derives from any particular dimension. The management needs to make careful assessment: how many resources will you need and to what extent; are these resources available to build desired capabilities. If companies don't set rules, discover patterns, do deep analysis for business initiatives that have significant risks but also potentially have significant upside results, it can, in fact, diminish the business’s unique advantage for the long run.

Organizational quality assurance management is a discipline of preventing defects in designing or implementing products or services: Every defect counts, but not every defect is created equal. When defects increase, it’s crucial to look at the root cause of failure. Some say, 20 percent of the defects cause 80 percent of the problems. The customer acknowledges that they have received value for the money spent. Without understanding the root cause of the problem, an organization will continue going in circles of busyness, trying to fix the symptom, but the real issue continues coming back.

If you want to stand at the right angle to understand quality, do not always follow conventional wisdom, preconceived opinions. The value of the software should be determined from the very beginning of the process by getting it into the hands of end customers and responding to their feedback. Different business management disciplines involve different quality assurance methodologies. Agile projects may have many more minor defects because of the speed and smaller, more frequent releases; whereas a more traditional waterfall based project will have significantly more critical defects because of the lack of feedback to the end users. Organizations should pick the best, recognize the fittest, define their set of business principles, processes, and practices to improve quality assurance.

Organizational synergy creation implies all sorts of enterprise properties being built via certain business activities: Most organizations that get stuck at the low level of maturity spend most of their time and effort on keeping the light on, leaving very limited budget or resources on exploring their full potential. At the average organization: 80 percent of the share of energy that does not create external value, 20 percent of shares of energy is value-creating. Organizations have to streamline information, idea flow, keep creative energy flow to lead progressive changes. Think knowledge as the business consciousness and treating knowledge as an intangible asset of the organization to refine the value-based management.

Running a successful business becomes more complex due to fierce competitions and frequent disruptions. Businesses that find themselves setting new and radically different trajectories are facing daunting tasks of navigating uncharted territories or diving into the underlying business processes and functions. Business management needs to properly understand all elements of value that are translated to the organization, how all the pieces and parts of the organization are interconnected to create business synergy. Change management and knowledge management should take a holistic approach. A focus on learning and development reduces attrition to create synergy and has a great quantitative return on investment.

It is important to cultivate organizational learning agility, do deep analysis, discover patterns, identify what generates the most value for the company and express that in strategic objectives. So keep their eyes on what matters, take a series of actions, to decrease critical defects, create business synergy, accelerate business performance effectively.

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