Friday, October 22, 2010
Speed the key to grow and stay ahead in business
“SPEED THE KEY TO GROW & STAY AHEAD IN BUSINESS”
Read on 21.10.2010 A very interesting & useful article in TOI under above headline which is self explanatory
The article is about the presentation done at KPIT Info systems-Hinjewadi by Mr. Edwin Boswell president and chief executive officer of US based consultancy firm “ Forum Corporation”
Mr. Bosswell insists that great business strategies fail due to lack of speedy execution as the people who implement the strategies are not adequately tuned in to the larger objectives of the organisation.
The important points in this articles are as follows:
· Strategic speed: speed is required for successful organization but it’s difficult to achieve only implementing strategies are not important but implementing them well is important.
· Speed Challenge: There is no CEO who is happy about the pace of change in hid organisation, the days of making 3-5 years plans are gone .Therefore there has to be a plan B if plan A slips.
· Faster & Slower firms: Three factors which decides whether the company is faster or slower,1.Clearity: Clear understanding & directions accordingly.2.Unity:People should agree that they need to work together to move ahead.3.Agility:People should be willing to turn & adapt quickly while keeping the strategic goals in mind.
· Leadership Practices to boost people factors: A good leader should motivate, encourage peoples for getting performance from them.
Above all will really help us to grow speedily let us follow these steps & one day we will be on top.