Strand-Ridge
  • Home
  • Biz Services
    • Biz Consulting
    • Strategy Workshop
    • Public Speaking
    • Biz Training
  • StrandRidge Academy
    • Sustaining High Growth For Long Term Success
    • Global Productivity Mindset
    • On-Demand Video Archive
  • Biz Exchange Mall
  • Global Trade Promotion
  • Contact
  • About
  • Motivation To Succeed
    • Motivational Videos Archive
  • Events
    • Upcoming Events
    • North East Business Exchange
    • ARCHIVES 1
    • ARCHIVES 7
    • ARCHIVES 8
  • Leadership Insights
  • Strand-Ridge Cafe
  • Consent To Receive E-mails

Financial Leadership

1/28/2016

5 Comments

 
Picture

To Succeed Beyond The Bottom Line 
Sustain growth by delivering quality

 
Ever Evolving Markets
The common refrain, “if you are not growing you are failing”, comes from the realization that markets either grow, contract or evolve. A growing market very often means more competitors entering the market. There is a bell curve of rapid growth stagnation at peak demand with a sharp decline in demand as the market turns to new offerings or competitors.
 
In the 19th century rickshaws were a common means of public transport in many Southeast Asian cities. Then in the 20th century taxis displaced them. Now in the 21st century we have software apps that allow private car owners to disrupt the market place for public transport.
 
4th Wave Industrialization
At Davos recently many world leaders in banking, trade and politics gathered for discussions on the current state of the global economy. They were also interested in identifying fresh business opportunities for the years ahead. A view deeply discussed was the emergence of a 4th wave of industrialization based on knowledge and high technology displacing the current 3rd wave industrialization based on services. 
 
Lawyers and consultants are evolving away from providing services towards providing knowledge. The information that I have is freely available online. But the knowledge, skills and experience I have is the premium that can add financial value to your business.
 
Go online and you can download free business plan templates with guidelines on how to write up your business plan. It is the knowledge input of consultants which makes the difference between a plan that looks good and one that sets a practical pathway towards high business growth.
 
Knowledge Your Financial Premium
Competitive leaders know that survival and success depends on more than just hiring new people with the latest knowledge. It is necessary to retain and retrain those with experience because many of these individuals have knowledge and skills based on experience. Business success requires the right blend of theoretical knowledge and practical experience.
 
A business that wanted to grow rapidly decided to lay off older staff seen as “dead wood”. Fresh graduates with high grades from top tier Universities were hired as replacements. The result was a team of young high performers. Hard times hit and many of these young individuals lacking experience working under tough economic conditions failed to hit sales targets. The business failed. An analysis revealed market indicators which would have triggered a different response by seasoned older employees. This could have saved the business.
 
Leading a team with both old and young people from across the generations is a challenge that leaders need to embrace. There must be clear acceptance of the business vision, mission and values by all team members. Competitive leaders spend time working on communication skills to convey the message across generational divides so that the entire team is motivated to work together to achieve common goals. This is often the greatest leadership challenge.
 
Getting Value From Vision
Leaders need to articulate a vision that remains relevant over the longer term.

A good example is of a company with a vision articulated by the founders in the 19th century to provide the ultimate comfort in transport vehicles. When the business started it sold bicycles and carriages. This was before the age of the internal combustion engine. Today they are a leading distributor of luxury cars. The products have changed but the business still holds true to its original vision.

Leaders need to keep the business team motivated to sustain high performance. This is necessary to sustain delivery of high quality over a long period of time to the point where consumers come to expect the quality as part of the brand identity.

Competitive leaders are good communicators of the vision and values. They make sure the vision and values permeate internally across the workplace and externally so it influences stakeholders along the supply chain from suppliers to consumers. This creates a high trust culture that builds up brand loyalty.

Communication skills combined with the practice of listening to experienced team members stimulates respect that helps establish integrity within the team. Competitive leaders value perspective and differing views. They will harness good ideas to create a high performance team spirit for competitive advantage.

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

5 Comments
Cheron link
1/28/2016 08:47:11 pm

I particularly like and agree with your comment regarding the mistake in letting go of experienced, mature employees, in favour of younger staff. No-one can replace experience and wisdom with fresh enthusiasm. A blend of both, each prepared to work together as a team, sharing and supporting one another is the answer. That would be of great benefit to any business.

Reply
Siddha link
1/29/2016 10:19:32 am

Comments like these motivate me to keep writing. We need the wisdom of experience to maximize on the benefits received from knowledge through the internet.

Reply
publix.passport link
4/11/2017 09:28:42 am

Financial Needs Anaysis (FNA) is defined as a process to identify individual financial needs in order to strategise an investment plan that meet such needs and financial goals. The process of identifying financial needs does not stop with implementation. Our financial needs may change over time. It affects our initial investment plan, as they may no longer be adequate.

Reply
Milton barbarosh link
4/19/2017 05:01:51 pm

Arbitration has been known as the preferred method of dispute resolution for years now and there is very little reason to think this trend will change. With the ongoing turmoil with government-funded programs such as Social Security the financial services industry is itself experiencing a boom. The Financial Service Industry has found arbitration to be a superior choice to litigation for the same reasons as small business and individuals.

Reply
Boost Your Credit Score link
4/23/2017 01:10:45 pm

Many companies use the word non profit just to attract people and invest in their money instead of helping them solve their financial difficulties. This eventually deteriorates your situation since no progress is made.

Reply



Leave a Reply.

    Archives

    September 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    June 2017
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014

    STRAND-RIDGE news provides free business knowledge articles.

    Categories

    All
    High Growth Planning

    RSS Feed

Powered by Create your own unique website with customizable templates.