EVOLVING BUSINESS STRATEGIES FOR SUCCESS
A report from the Economist Intelligence Unit* suggests that underlying fluctuations in energy, commodity and currency rates, the emergence of new and non-traditional competitors and rising customer demands will continue to challenge traditional business and operating models for some time to come.
To be competitive, companies may find themselves in a Houdini-like twist. How can they respond quickly and nimbly to the changing environment without getting caught in knots? In today’s knowledge age, the ability to transform information into insight in response to market movements is core to sustainability. Companies must think of ways to make their processes more flexible.
- The report suggests that organisational agility is a core differentiator in today’s rapidly changing business environment.
- Rapid decision-making and execution are not only important, but essential to a company’s competitive standing.
- Agility may also be linked to profitable growth: research conducted at the Massachusetts Institute of Technology (MIT) suggests that agile firms grow revenue 37% faster and generate 30% higher profits than non-agile companies.
Yet most companies admit they are not flexible enough to compete successfully. While the overwhelming majority of executives view organisational agility as a competitive necessity, actual business readiness is more mixed. Internal barriers stall agile change efforts.
More than 80% of survey respondents undertook one or more change initiatives to improve agility over the past three years, yet 34% say they have failed to deliver the desired benefits. The main obstacles to improved business responsiveness are slow decision-making, confl icting departmental goals and priorities, risk-averse cultures and silo-base information.
HOW CAN TARGET MANAGEMENT HELP YOUR BUSINESS EVOLVE?
- Target Management helps you think through your strategies for dealing with these issues.
- We help you recognise what you are actually capable of achieving easily and what change is going to be really hard to achieve, despite every intent to make it happen.
- We tell you the painful truth, even if senior management does not want to hear it!
- We make a particular point of connecting new strategies to new target objectives, combined with tactics you can actually implement to achieve the overall goals.
- We make a point of working with and through your people to make sure you get results
Call Steve Herman on 07825-189263 to see how we can help you adapt effectively and look at the sections on our Adaptability Index and Workshop process.