It is the vision of all companies to eventually grow and become more successful in the industries that they compete in. In a world where market share provides direct competitive advantages and provides the opportunities required to generate lucrative returns growth has, and will continue to be king.
However, just because growth is the goal doesn’t mean that the goal is always correct and doesn’t mean that every opportunity to grow is a good one for your company. When opportunity strikes the instinct of any good executive and manager is to explore the situation to determine whether the opportunity in question is in the best interest of the company. If it is shown that the opportunity is in the best interest of the company, and the resources can be (notice I didn’t say should be) acquired then the executive will likely move forward with the transaction. The problem is that executives are so anxious to grow their companies that...
Culture by far is the foundational pillar of success for organisations. In order to succeed company culture must be effective enough to ensure not only that staff are happy and energised but they also maximise value and support others. We have heard many examples of companies who put people first in their equation. Companies such as Zappos have a great culture which is completely aligned to their core values.
This article shares some key critical drivers which can change the culture for the better. The core component to growth is to ensure that your staff come first. Nothing else matters until you have the right team who are motivated, energised and enthusiastic to rush to work every day.
Many leaders are making the shift in their focus, skills and mindset that makes a bigger impact. If you are a leader, this article reveals some of the most profound changes that leaders must make. Multiple elements of sound leadership are changing.
No longer is it enough for leaders to simply be inspirational or ensuring that staff are treated well. While these ingredients are essential, a heightened level of leadership intelligence is also needed in order to succeed in a world where disruption and new technological developments are changing the face of operations. The most worrying part is the recent failures of some well-known brands here in the UK. In my opinion, they did not see the new trends and the rapid pace of change which disrupts entire workplaces.
I have listed 5 key changing trends which I feel leaders must take into consideration:
1. Redefining the business model with digitization:
The biggest shift is digitization. It is worth noting that big data, machine...
As we keep facing disruptions and uncertainties, change is now a constant. To achieve leadership excellence, a shift in mindset and actions is vital. I have observed many companies fail due to lack of sound leadership skills. On the other hand, I have seen companies which grow due to a few habits and discipline leaders demonstrate in their day to day activities.
The purpose of this article is to enable you to move to a higher platform which will impact effectiveness and growth.
Step Back: Leaders need to step back and observe what is happening. There was a retreat I facilitated for a mid-sized service company. The retreat was for owners, executives, and the management team. Over a two-day period, each leader was given time to simply reflect, observe and share their perception. After the first day, the whole group was energised as new insights started emerging. This whole experience resulted in new approaches at board and management level. While execution is vital to forge...
I often get asked these questions. What is Governance? How can I apply sound governance practices in my company.
First and foremost, Governance is not about slowing down processes or 'Red Tape' (which many private and family owned business owners think). Governance starts from within. I prefer the definition that Governance is translating the wishes and desires of owners into results (Dr. John Carver). It is extremely important to understand that the following points are fully grasped and understood.
Owners Expectation: Having complete clarity in what owner's expect is the first and foremost. I have noticed companies going straight into strategy without taking time to truly understand owner's expectations. In some cases, owners themselves are engrossed, working fully on strategy and operations of their company, without fully connecting to what they really want. All decisions must be clearly linked to the owner's expectations. The starting point for Governance is to fully grasp...
In times past, corporate or business leadership meant being at the front of the line, ahead of the curve, innovative, charismatic, and talented. While those descriptions may still fit, the modern executive must understand that successful leadership is more than achieving objectives or showing a profit. Regardless of the size of your company, to be a leader means that you are first a thinker. Thought leadership is, at its core, the first function of a true leader.
While it is true that success favors the bold and that action is a necessary element of progress; the ability to be successful in 21st century business is centred on a manager’s ability to be logical and to efficiently dissect and process information. These functions are vital in a world that is becoming increasingly small due to a massive free-flow of information. From a market standpoint executives must be cognizant of the fact that the window for taking advantage of opportunities is getting smaller, decisions...
The conventional methods of selling and earning good margins has completely changed. Buyer behaviours have changed and more choices are now easily available. The key question is, how can you increase revenues and profits during these disruptive times?
Boohoo, an online fashion retailer posted a 97% increase in profits and growth in sales by 51% in the past year. On the other hand, Next, a fashion chain posted a drop of 2.5% in total sales in 13 weeks. The point I am trying to make is, what is a successful growing company doing compared to another in the same industry which posted unfavourable results? Though Next has retail outlets as well as an online presence.
There is a common trend for companies that are successful. They focus and act on certain activities which struggling companies are inconsistent with. I filtered out 7 insights which have made a positive impact to businesses which are key to their progression over the years. These are:
1) Asking the right questions...
The Financial Ingredient: Financial Management in the Corporate Strategy Equation
It seems like a principal that is easy to understand; to make corporate decisions you must understand the financial ramifications of the actions that are being taken. How else can you make strategic business decisions; right? You have to consider how the strategic position being taken will affect the company’s financial infrastructure.
While this ideology may be simple to understand it is often ignored (or at the very least undervalued) when company’s are developing their operating strategies. This is not to say that decision-makers don’t consider the financial costs of such decisions, because they might; this is to say that many times they don’t fully under- stand how their financial infrastructure will be affected in the long and short-term as it relates to other factors beyond costs.
When operating strategies are being created, it is incumbent on management to understand how...
More than One Way – Good to Great
In a poor global economy most companies are required to stand back and reflect on the situation that they find themselves in and how that situation will change with the volatility in the market (be it local, regional, national, or international). When doing this analysis many companies will be in one of the three following categories:
This Corporate Excellence video is all about driving excellence for directors. This Director training video covers the 9 core elements which lead to growth and mastery. If you are a small, medium or large organisation, you will find these tips highly useful. These are all aimed at wealth building and will help you drive exponential growth.
Game changing insights enabling you to achieve standards of excellence in everything you do