Changing circumstances may necessitate a change in direction and stubbornness and fixed ideas can frequently be the enemy of business leaders. Business strategy is all about developing a viable plan for sustained business growth, possibly diversifying into new markets or cross selling to existing customers. Adequately qualified senior executives tend to have clear views of what their business strategy means. Good strategies are not glossy documents produced to be stacked on shelves to collect dust, but rather to be communicated, executed and monitored. Leaders are expected to champion and drive the process of strategy execution by putting the strategy into action; after all the strategy does not mean anything unless it is fully communicated throughout the organization.
For proper management of your business' productivity, you have to develop strategies for remaining highly competitive in your market. Human productivity in organizations depends mainly on how efficiently the workers are managed. Despite the broad organizational objectives, each individual employee’s objective- in performance terms ‘target’ - may become the organizational objective if it is identified through a collective planning process involving the employees and prioritization of needs depending on perceived problems. Motivation then is the adoption of the idea not through mere rewards or punishment but bringing in responsibility by helping in identifying creativity and transforming it into performance. Entrepreneurs must look inwards to understand the drive of their employee’s productivity and creativity in other to achieve their target
This is important for the entrepreneur because when thinking about their business ideas and decide to execute one they will have to think innovatively. In order to do that they will have to “step in their customers shoes” to see how their business can become better for them. Most of the time the best ideas come from the customers since they are the ones that are hands on using the product or getting the service you sell, so getting to know the customer is really crucial to a business. As an entrepreneur you will have to ask yourself over and over again, “Who is your customer,” because customers change over the years and their mindset might be looking for bigger and better things than what your company offers. Getting to know your customer is kind of a SWOT analysis because getting to know your customer gives you important information like what do your customers value about your company, what is working like the strengths, what is not working like your weaknesses, and this will help you develop a plan to address these issues to create more revenue.
People have to understand the key principles if one is running a business, then that individual is the one that has to make choices, communicate about strategy, maintaining discipline. Strategy should be allied, strategy is tested every day whether a person is clear, whether a person understood trade-off, should understand the choices done and stick with those choices. Project and program manager do is embedded in strategy, the thing is which one could improve both the connection and understand the connection is going to have a big impact on the ultimate power of whatever it is, that is running. An individual’s job is to help to make a two-way process of deepening and understanding so that the organization gets greater power
It is believed that money runs the world, but money can’t be ran, if people do not have a role toward the organization. Our world, your company will be always in need of effective and responsible leadership that can manage and apply concepts, methods and system to bring outcomes and determine weaknesses to convert them into opportunities of growth. It is important that leaders use a healthy culture, a balanced mission and vision to meet their objectives by following policies and responsible standards. According to Thompson, Arthur, Peteraf, Gamble, M. J. and A.J. III., (2012),” Strong company cultures can have either positive or negative effects on strategy execution.
We need to stop being hung up on terminology and start focusing on the tools that are necessary to achieve the best results possible. By educating managers and employees with skills to help themselves create their own best life work effectiveness, the employer can see breakthrough returns on investment and a lasting positive impact on the entire organization . The strategies for Work – life Effectiveness (Audrey Adelson, 2014) , Work-life is not one size fits all. What works for one person will not necessarily work for another person. Each of us is different – with regards to our personal lives, beliefs and work responsibilities.
Knowledge is power. It is the state of knowing about a particular fact or situation. One must have knowledge in order to survive longer in this complex, competitive and challenging world. It also allows us to move forward to a better life. The importance of knowledge is crucial for every manager to plan more proficiently in order to achieve success in business organization because knowledge is the most vital skill needed by the society.
Listen to Your Customers: You are in business for your customers, they are basically the lifeline of your business. So, it is only wise to listen to their thoughts and opinions about your business. They may have better ideas of how you can improve your products or service delivery. 7. Get Help: Do not prioritize profit ahead of the smooth running of your business, if you require extra hands to run the business effectively then look to employ someone.
Conclusion In order to become a good manager, you need to be a good leader. This can only be accomplished if you have mastered self-awareness and personal mastery. We all need to understand what our roles and responsibilities are within the team and work towards a common goal. This is not necessarily on a business level alone but also on interpersonal connection level to develop and grow a health relationship between the team members, thus creating a good working environment. Good communication and commitment from each individual is required if Business Connexion wants to achieve their 2030 vision and goal of Internet of Things.
And they must nurture a few core competencies in race to stay ahead of rivals. Keeping in mind the end goal to end up and stay prosperous and focused, organizations should continuously change their procedures. Inability to do as such is at risk to bring about higher costs, lower incomes, less persuaded workers and less satisfied clients. If the firm wants to continue their business with good revenue the business must enhance the process of the