The pace of change is accelerating at a frightening rate
Many businesses will see more disruption in the next five years than they have in the last twenty years, according to a recent McKinsey report.
And product life cycles are shortening
Many sectors are seeing the shortening of both product and business life cycles. This makes it harder for businesses to get a good return on their investments. Winners inevitably are those that get their brands established fast and create scale fast either organically or through market consolidation.
So, what are the key areas for business leaders to focus on?
We think that there are four areas to get right to succeed in these ever-changing and increasingly competitive markets.
1. Clarity of strategy
Spend time getting the vision and goals clear, shared and understood throughout the entire team. Be flexible, keep them under review, this will ensure their ongoing relevance and enable the business to seize opportunities as they arise.
2. Enabled structures
The organisation’s structure is important with clarity of roles and responsibilities, clear accountability and transparent measures. Equally important are the external structures, the efficient and effective engagement with customers and suppliers creating an ecosystem of partnerships.
3. Fit for purpose processes
Built upon standardised ways of working and embracing the philosophy of continuous improvement. Process owners with transparent measures enabling rapid decision-making in pursuit of delivering the vision faster and better than any other alternative and all enabled by the latest fit for purpose technology.
4. The right resources
Stakeholder engagement through belief will ensure commitment and enable both capital and human resources are available and engaged on delivery of the business vision. Leadership and role mobility will help the enterprise deploy resources when and where required.
Your next step
HEART of business consultants can help you get the right focus and plans in place and then work with you through the implementation of the agreed plans.
If you would like a confidential discussion on how, then contact us now.