In the past, the typical wealth-creating enterprises of the advanced industrial societies were either labor-intensive – as coal, mining or textiles – or capital-intensive – such as chemicals and steel. Today, many of the world’s major corporations are best described as knowledge-intensive or talent-intensive. The obvious examples are companies in […]
Never in history has business played such a central role and been such a globally competitive endeavor. It’s very likely that what we are experiencing today is an easier time for business with what is projected to occur in future. Staying competitive isn’t just about hiring and developing the very […]
Words are the essential tools of communication. But they are so much more. They convey information, they express emotion, they influence, persuade, motivate. They do all the things that a successful business wants to do – if they are used well. Or, if they are used badly, they undermine a […]
Over the years, we’ve made strategy far more complicated than necessary. Smart people with advanced degrees and high salaries generate elaborate documents containing complex analysis, algorithms, heuristics, scenarios and projections which seldom yield competitive advantage. More than 50% of the 2010 Fortune 500 companies – each with elegant strategic plans […]
In turbulent and uncertain times, it is tempting for companies to wonder whether if they do actually require a strategy. They do. By way of proof, imagine that you find yourself in the middle of a dark and hostile jungle. If you want to get out of the jungle, do […]
HOW TO CREATE AN EFFECTIVE PROCESS FOR DEVELOPING SALES FORECASTS AND MARKETING BUDGETS (PART 2) DO MARKET RESEARCH There are four key factors that will affect the reliability of your company’s market research: the quality and objectivity of the survey process, the size of your market sample, the homogeneity of […]
WORKING FOR THE FUTURE (6): ADAPTING TO CHANGE Managing change is fast becoming a dominant theme of management practice. The pace of change is accelerating as markets become more international and technological innovation increases. Ensure that teams adapt to external changes. Anticipating change Over the course of a team’s life, […]
WORKING FOR THE FUTURE (5): REWARDING PERFORMANCE The object of a successful reward system is to motivate teams to improve their overall performance. Calculate rewards with care, and choose the most appropriate types. Financial and incentive-based schemes – or a combination of both – are popular. Broadcasting Figures When targets […]
WORKING FOR THE FUTURE (4): SETTING TARGETS Targets are vital to the whole teamwork process. They ensure that a product is delivered to the satisfaction of the customer, schedules and budgets are adhered to, and that standards are met. They are also the yardstick on which rewards can be based. […]
WORKING FOR THE FUTURE (3): TRAINING A TEAM Training helps to improve the technical skills of team members and develop the managerial and interpersonal relations within a team. Review and upgrade the skills of a team constantly to meet current and future challenges successfully. Assessing Costs Despite the expense involved […]
