Running a business is an iterative problem-solving and value generation continuum.
The complexity of running modern organization comes in due to business volatility, hyper-diversity, unpredictability, nonlinearity, complex rules and regulation, hybrid structure, and increased business flux working and impacting together.
Keep improving organizational agility: Organizational agility is about doing things better, faster; the company being able to satisfy customers by consistently delivering high quality, valuable products/service with minimal delay. Agile is not your end goal, agile is not a process. Agile enforces interaction, iteration, improvement and collaboration. So you build a lot of trust and respect by letting people come up with what works best for them. Agile should help you reach your end goals such as increases in revenue, company valuation, user base, or reductions in costs, for achieving high performance results.
Fine tune business elasticity: More and more companies are learning and implementing best practices for scaling up and unlocking performance effectively. High performance organizations across industrial sectors build elasticity by developing Lego-like module design capabilities to scale up/down more seamlessly; proactively lead changes, be nimbler and effective to develop their own niche capabilities, to reach the next cycle of business growth. Technically, scaling and performing the appropriate transformation could be vendor specific as you have to take into account the technology provided. The challenge for business management is to understand where and how you can improve to scale up for getting the biggest effect and improving business competency.
Build organizational resilience: With the high velocity and fierce competition, more often than not, businesses perhaps get disrupted even overnight. Resilience is about a human or organization being able to maintain its recognizable essential characteristics in the face of “disruption” It enables people or organizations to press on and persevere despite difficult circumstances. It’s the ability to respond to change, to recover quickly from setbacks. It’s also the capacity to respond to the unexpected situation in a way that increases gain or minimizes loss. Improve risk management discipline from risk mitigation to risk intelligence.
Increase organizational flexibility: An organization can approach the flow zone when the positions in its hierarchy have clear and accountable tasks. The flexible organizational structure is implemented via the virtual team setting mixing with the physical structure to achieve a balance between virtual worlds and the human connections. Flexible organizational management empowers people, enforces cross-functional communication and collaboration to improve business performance at higher speed. The culture of flexibility advocated by open leadership is about bringing out the best in others; enjoying different views, encouraging creative solutions.
Value proposition: Business value is an informal term and could mean different things to different people. Organizational values are multifaceted. There are economical value, quality value, customer value, social value. There are hard and soft business values; there are strategic values and tactical values; there are incremental values; transcendental values; some values are long-lasting; other values are intermediate. The value-based management enhances guidance, improves business effectiveness and accelerates performance, to achieve collective advantage and multi-layer ROIs. Good value management improves business performance; great value management accelerates value-added change or innovation. The whole value chain needs to be aligned, engaged, and contributing so a variety of stakeholders get their fair share, define the ideal business model, products & services, and business brand.
Running a business is an iterative problem-solving and value generation continuum. Organizations need to keep re-defining, re-interpreting, and reinventing the enterprise components and their relationships, apply interdisciplinary management methodologies and practices to enforce critical success factors and lead transformative changes.