According to Harvard Business Review ‘only a fraction of companies’ strategic plans are effectively executed.” It is challenging for most companies to align the C-suite grand plans, and for their visions to be cascaded down to everyone in the company. Give it a try to ask anyone from your organisation if they know what their corporate vision is. You might be greeted with a strange glare from the executive or a blank look in his eyes.
Achieving business excellence (BE) would require more than just having an audacious plan in place. Achieving business excellence would mean that everyone in the organisation plays a pivotal role at delivering values to the company by first mastering the fundamentals to personal accountability and personal responsibility to be a high performer in their respective position; and stay in alignment to achieve company’s strategic goals and objectives.
The foundation block to become a high performer is to stay relevant and up to date with today’s dynamic and competitive business landscape; using tools to help individuals in organisations strive to operate in a more efficient manner, where the speed to respond and react are fundamental traits to achieving business excellence. Gone are the days where organisations are vying to be the biggest operator. Today, only the fastest and those who strive to go beyond the status quo will excel.
Those who do not, they will be at a huge disadvantage and lose out. Regardless if you are an SME or an MNC, businesses need to always be agile and be quick to respond to market demands and have dynamic business strategies to stay competitive.
One of the most powerful tools used by successful professionals and businesses today to achieve BE is by having a comprehensive and effective long-term strategic business plan, together with tactical initiatives and projects that will propel the business to achieve profitability and long term sustainability.
Today’s global economy is constantly changing and is more dynamic than before. Businesses need to constantly research new territories, revisit current strategies, review initiatives and reposition directions to achieve business excellence.
Part of achieving BE is to invest in staff development programs to upgrade the skills and competency levels of the people, which will help them be prepared to meet the challenges at the workplace, increase the productivity levels and ultimately contribute to the success of the business.
Today’s workplace challenges are amplified with the arrival of high speed internet; advance communication tools and new technologies that drive an avalanche of information, most often drowning and crippling some to the level of incompetency; losing control at work and messing up their personal lives as well.
The solution – The Personal Efficiency Program (PEP) with its primary objective to help today’s busy professionals regain control of their lives, both in and out of the office and to become more productive. PEP equips each person with the relevant skills and provide tools that can help them to eliminate unnecessary stress; embrace new ways of working efficiently and to be in control of their work and their life.
A long term business continuity, succession planning is an essential strategy for an organisation to remain in the league of BE. Developing an effective succession plan allows you to steadily build up your business continuity and also keep track of the status of the business (i.e stability and profitability), both present and in the future. Typically, it takes an average of between 5 to 8 years to groom someone for a senior leadership role. Future leaders must be given the opportunities and the environment, allowing them to learn how to take business risk, to contribute to the future growth of the business, and to experience leading.
A vision to achieving business excellence is not good enough. A vision with actionable strategic plans, cascaded effectively communicating to every team member, encouraging the people to constantly innovate, to drive new ideas, build a culture of respect within the organisation, positively embracing change and challenging the status quo, will bring the organisation a step closer to achieving the corporate vision, and achieve business excellence for a long time.
Angeline V Teo is the Managing Director of d’Oz International Pte Ltd and President of PEPWorldwide (Asia) Pte Ltd, a learning and development solutions partner. As a certified Master Consultant and Coach of PEP (Personal Efficiency Program), Angeline has helped multinational organizations and the employees to improve on their work performance and to excel in their roles. To engage Angeline, please email firstname.lastname@example.org or visit www.d-oz.com for more information.
Article was published in Entrepreneur’s Digest Issue 63