Tag: management strategy
Din Tai Fung is a paragon of productivity (courtesy of Aroma Cookery)
Business as usual can no longer work in Singapore. We desperately need to change.
While we’ve enjoyed modest economic growth of 1.3% in 2012, and are estimated to experience 1% to 3% GDP growth this year, labour productivity declined by 2.6% last year. This wiped out productivity gains of 1.3% the year before, with the impact felt across manufacturing, construction and services sectors. Only the Info Comm sector experienced growth.
In this day and age, change is the only constant. Global economic uncertainties, socio-cultural shifts and technological breakthroughs make it necessary for organisations to adapt and transform themselves to remain relevant.
The question, however, is how one can drive change successfully in a stage littered with numerous failures.
How do companies like GE, Wal-Mart and Honeywell succeed? What is the secret of Jack Welch, one of the most legendary CEO in the business world today?
The secret, according to Larry Bossidy and Ram Charan, is Execution. Subtitled The Discipline of Getting Things Done, the New York Times bestseller emphasises the importance of execution in business, how companies with an execution culture conduct their business affairs, and its three core processes: people, strategy and operations.
Are charismatic superstar CEOs the answer to enduring success? What about dramatic mergers and acquisitions – aren’t those the panacea to ailing companies? Finally, cutting edge technologies ought to at least have an impact on greatness, right?
Surprisingly (or perhaps unsurprisingly), the answer to these are “NO”. Not at least according to “Good to Great”, a phenomenal business bestseller published in 2001 by renowned business author Jim Collins.
Courtesy of Bright Hub
There are two ways to look at one’s business: “inside-out” or “outside-in”. Let me go through each in turn.
The first approach starts with what one first possesses before looking at anything else. It raises questions such as what one’s organisation has in terms of capital, equipment, core competencies, human resources, customer relationships and distribution networks and how these could be leveraged upon.
Beleagured employees can now leverage on a “cheat code” to streamline work and increase their productivity – without getting into trouble.
With the subtitle “Breaking Stupid Rules For Smart Results”, Hacking Work by Bill Jensen and Josh Klein encourages workers of all stripes to utilise “benevolent” hacking to get their jobs done more effectively and efficiently. Unlike “Black Hat” hackers that attack company systems for profit and fun, benevolent hackers are ethical hackers that work around their own company policies, systems and processes to improve them.
Courtesy of Putting People First
Shrink that proposal. Shorten that memo. Simplify that presentation.
Do it in four pages (or less). Better yet if you can tell me what decision you need in 30 seconds flat. Starting from now…
Image from Mashable.com
Everybody knows Steve Jobs.
Icon, innovator, brilliant entrepreneur and creator of “insanely great” products, Jobs was the founder and CEO of Apple.
Creator of legendary products like the Macintosh computer, iPod, iTunes Store, iPhone and iPad, Jobs founded the Disney beating Pixar Animations (which was later sold to the behemoth), and opened the much lauded Apple Store.
Don’t merely listen to the experts even if they look as good as this (courtesy of Strategy of Wealth)
In today’s social-technology-enabled world, customers and citizens alike wield considerable influence over the decisions of corporate and political captains alike. In such an environment, we can ill afford to adopt a “I know best” attitude in dealing with our stakeholders (unless of course we are Steve Jobs and Apple).
While there is a rise in the cult of the amateur, as claimed by Andrew Keen, there is still a time and place for the professionals. I’m sure nobody in their right minds would want to be operated on by a surgeon who is fresh out of med school, or to be rescued by novice firefighters.