Blog Archives

Financial Leadership

3/31/2016

Business Disruption Can Be Good
The psychology for rapid change

Embracing Business Disruption
The news has been full of stories of ride sharing software platforms disrupting the taxi industry. But imagine for a moment what would have happened if the established industry leaders had taken a pro-active stand of embracing new technology to evolve in response to new competitors in the market. Would the outcome have been less traumatic for members of the taxi industry?

We do see individual taxi drivers giving up their licence to embrace ride sharing platforms. In some cases taxi companies are innovating, embracing technology to improve customer experiences.

In the hotel and hospitality sector we have software platforms that have enabled private home owners to rent out rooms, apartments and houses in competition with hotels worldwide.

Entire industries are being disrupted by technology. How we respond to disruptions in our business area is critical to how we transition our business for continual growth.

The Psychology of Change
Our information driven economy pays a premium for new knowledge making life-long learning essential for sustained business growth.

The psychology needed to embrace new knowledge in business requires an ability to declutter the mind. This makes it easier for us to embrace innovations and fresh ideas that create better customer experiences at a competitive cost.

Productive Cost Management
Taking risk without being reckless requires a calculation of risk and the cost of insuring against loss. It also requires providing an acceptable standard of quality and care to customers.

Embracing new knowledge and technology should result in farmers becoming better farmers and technology companies becoming better technology companies. What this means is, new knowledge and technology can help you to provide a better customer experience.

Embracing new knowledge and technology also requires strategic financial leadership focused on three aspects of cost management for growth, namely investing in:

1.         Innovation for product development and improved customer experience;

2.         Creating a business value architecture for efficient collaboration; and,

3.         Digital technology for faster growth at a lower cost

Siddha Param
International Business Consultant

Reboot your business plan for sustained high growth

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Financial Leadership

3/20/2016

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Sustain High Growth With Sustained Profit
Competent teams delivering on innovation

A Mobile Business Mall
The last of my bulky paper telephone directories are now in the recycling bin. The technology revolution is accelerating. My business connections in Winnipeg are being uploaded so the businesses I wish to phone will be on a virtual mall. With just a tap on the phone number I can dial and connect with these businesses.

Apparently, this technology revolution began when a visionary in home computing made the statement, “Just give me a computer the size of a telephone sitting on a telephone directory”.

It was this idea that spurred the innovation to build desk top computers that are now a standard feature in homes and businesses worldwide. To fund this revolution required investors who could take a garage operation onto the largest stock exchange in the world. This is achieved by creating shareholder value that investors believe will result in an attractive return on investments.

Shareholder Value & Business Values
To create shareholder value a business has to hire the best minds with the right qualifications and competence to continually innovate to create marketable products. Competence requires an ability to accept the business values that drive the team to perform task that contribute to generating profits.

To sustain growth a business has to keep innovating to keep up with changes in the market.

Desk top computers are now giving way to mobile devices that operate through shared cloud computing power. We can watch hundreds of movies on a smart phone because all the movies we desire can be streamed from a giant computer server.

Similarly, we can now join a virtual business exchange that promotes businesses through social media platforms operated by multinational corporations. What makes this possible is the investments that fund managers make in these corporations that hire some of the best engineering and business minds in the world.

Leveraging World-class Technology
Imagine if you could hire graduates from the best business schools worldwide in the areas of innovation, operations, marketing and finance to run your business. With technology you can achieve this. A leader with the right mindset can leverage technology to run a highly competitive world-class enterprise.

You can sustain high business growth with sustained profits by using technology to respond rapidly to changes in your niche market.

A stand-alone pizza restaurant can compete with the largest global pizza chains to become the most popular pizza restaurant in the city. Business software and social media can create an efficient operations and marketing platform that enables the business to focus on delighting customers.

Today’s business success stories are increasingly being achieved through strategic alliances between giant technology providers and small businesses in small towns as well as big cities.

With the right mindset and business values you can create the necessary strategic alliances for success in our highly networked world.

Siddha Param
International Business Consultant

Reboot your business plan for sustained high growth

Click For Link To:

BUSINESS SERVICES

CENTRE FOR EXCELLENCE

BUSINESS EXCHANGE MALL CONNECTIONS

Do share this article on social media and with those interested

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Business Leadership

3/10/2016

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Ambition, Energy & Performance
Achieving more with limited time

Quality Time
The financial markets may demand a 90 day financial reporting cycle but successful businesses remain focused on only delivering quality products and services when they are ready to do so.

To sustain high performance it is important to ensure that the vision of the business drives us to achieve daily targets and medium term goals. Our vision should in essence shape our agenda on how we deliver customer satisfaction.

We all have the same 24 hours a day to achieve our vision for success. So how do businesses achieve success in line with their vision? The answer: Invest in getting quality time from team members.

When we are tired, we should rest, rejuvenate and re-energise. Sufficient sleep and rest recharges the body and mind for peak performance.

It is how well we spend our time performing our task that translates into productive worth. For productivity we need people with the knowledge, skills and drive to do the job. Assembling a team with the right specialist skills is the best guarantee we can have for getting quality time.

Energising The Team
Energy is the capacity to perform work. The human body and mind work best when in a high energy state. A technology company CEO is fond of saying that he expects his team to not put in overtime. He insists on having fresh minds in the morning that stay highly focused on designing the complex software required by large corporate clients.

When we work continuously without appropriate breaks the psychological destressing mechanism of fight or flight can kick in and create pressures that lower productivity. Investing in promoting the wellness of individuals in the team can boost performance and contribute to increased productivity.

To sustain long term team focus on creativity, many technology companies have designed work places that resemble university campuses. Such architectural spaces are designed to create a relaxing yet uplifting environment that promotes paradoxically both relaxation and productivity.

Technology companies teach us how to create business campuses that stimulate minds to work as highly creative teams with shared values.

There are technology companies that provide a variety of work spaces such as sitting areas with sofas and coffee tables; dining rooms with home style décor; café corners; open clusters for relaxed interaction; quiet rooms and formal meeting rooms. Staff can choose the work space in which they would like to work in.

An eye specialist has turned his waiting room into a mini art gallery. Patients find the wait experience extremely relaxing and the staff are uplifted emotionally to a point where productivity has improved significantly.

Energy Management
Many large corporations now invest in wellness activities for staff that increases their energy levels. Activities such as games, healthy eating challenges, timeout for human interaction and social conversations during the work day promote health and energises individuals. The result is better work performance.

The more leaders show appreciation and genuine concern for individuals in their team the more these individuals will strive to perform to the best of their abilities. A business that celebrates the achievements of individual team members tend to perform better over the long term. For sustained productivity invest in the people who work for and with your business.

Leadership is all about creating positive high energy relationships. To achieve this, highly competitive leaders review work practices regularly in order to boost productivity with high energy initiatives.

Siddha Param
International Business Consultant

Reboot your business plan for sustained high growth

Click For Link To:

BUSINESS SERVICES

CENTRE FOR EXCELLENCE

BUSINESS EXCHANGE MALL CONNECTIONS

Do share this article on social media and with those interested

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Operational Leadership

3/3/2016

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Strategic Action & Operational Leadership
Achieve daily targets & long term goals

Business operations need to focus on achieving immediate targets and solving daily challenges. This is important because the future happens one second at a time.

While making sure daily task are completed, leaders also need to keep focused on long term goals and the ultimate vision.

Strategic Action
Strategic action requires leveraging strengths to sustain business growth in good and bad economic times. This means staying focused on your vision while innovating in response to changes in the market.

Think of the technology entrepreneurs who took us from home computers, to music download, smart phones and now multiple-streaming devices. The products offered may have evolved but the vision to deliver computing power to individuals has not changed.

The daily activities of business can be delegated but planning and taking strategic action requires leadership.

Strategic action requires us to think, plan and motivate others to achieve long term success.

Strategy And Innovation
A young entrepreneur started a clothing store that sold casual wear for the trendy music community that patronised local clubs and music concerts. He got a popular local band to wear his clothes giving him a boost in marketing.

To grow the business he started tweeting to a wider audience who were interested in the trendy music scene and reached out to a wider market beyond the city. He branched out into selling smart casual wear and fashion accessories in response to request from his social media audience. He has now outsourced his social media promotion as part of his community relations management strategy.

His vision of providing feel good fashion to a feel good community has not changed. But in widening his line of clothing and fashion wear his operations has grown and he has had to hire an operations manager to assemble a team to manufacture the increasing variety of products now offered.

The success of such leaders is mainly due to their ability to plan and act strategically in hiring the right people to perform the daily task necessary for success.

Our young entrepreneur is now recognised as being an integral part of the local trendy music community which his business serves.

Strategic Thinking
Strategic thinking requires an ability to understand the dynamic relationship between the business and the market. It requires a big picture view that takes into account information from all the right sources and disciplines to create an objective view. We need to ask the right questions and analyse the answers.

The idea is to connect the dots between seemingly unrelated events and data that identify patterns, relationships and trends. Established assumptions need to be challenged and innovative responses should be encouraged and explored.

All information from both internal and external sources should be considered when formulating a strategic response to changes in the community and the market.

Strategic planning incorporates innovation to ensure sustained high growth.

Siddha Param
International Business Consultant

Reboot your business plan for sustained high growth

Click For Link To:

BUSINESS SERVICES

CENTRE FOR EXCELLENCE

BUSINESS EXCHANGE MALL CONNECTIONS

Do share this article on social media and with those interested

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