Business Excellence: Its in the Eye of the Beholder
At a recent forum the panel the discussion was around programs that lead an organization to excellence. The most consistent views seemed to suggest that few programs on their own will achieve excellence. There needs to be an overall strategy moving an organization towards excellence. Nothing occurs overnight and each piece of the puzzle has its own pitfalls.
Looking at the Ford Motor Company, as an example. They have implemented almost every business improvement or business excellence strategy possible and they recently posted losses of about $12 BILLION. Clearly, the strategies they have implemented (TQM, TPS, JIT, Lean, Six Sigma, TOC, and probably more) as well as new IT systems that have been installed, have not led to business excellence.
I have seen companies get results from each strategy individually but few have had breakthrough results. Each strategy has usually only focused on one aspect of the business, mostly process. Yes, Lean is moving into the office but it is still process. It is now about shuffling paper faster and more efficiently. Big deal. ERP systems moved companies to think in terms of processes and attempted to break functional silos, but ERPs are transactional systems that move companies forward incrementally, by creating piecemeal savings. Yes in a F50 the numbers are large but relatively speaking they are incremental. People in the business require new skill sets and ROIs are hardly ever equal to those planned or projected by the IT departments and consultants! Been there seen that.
GE is often mentioned as an outstanding organization. Business owners and managers often mention GEs success and Six Sigma in the same breath. What they fail to realize is Six Sigma was part of an overall plan. Some GE companies only started on their road to excellence and using Six Sigma after many years had been spent re organizing, redesigning, re hiring and focusing the business in minute detail. Six Sigma was not the cause and final end result of their improvement, nor their excellence!
Over the past few years I have been working with companies to achieve their strategies. What this has meant is looking at business in a holistic manner and making sure each piece of a strategic plan is budgeted for and is executed to achieve the desired results, or better. Essentially companies realize that no matter what happens in their strategic planning sessions they are not realizing the results they would like to see. Yes, one can just imagine FORD executives saying” OK guys we are going to drop $12 Billion this next year!
What this means is companies needs to improve their performance in a multitude of areas. This can be done without a name brand process, or a software package. To reiterate, it is not about ERPs, CRMs, Lean, Six Sigma, TQM, or anything else you can think of. Sure you may add one later but that is not the reason for success, although it probably will assist in reinforcing the changes that are made along the way.
The key to excellence in performance is rather simple; It is not easy but it is simple.
1. Have a great strategy.
2. Surround yourself with people who believe in the strategy.
3. Aggressively execute the strategy.
4. Measure your results along the way.
5. Celebrate your successes
This very simple strategy is often scoffed at as not possibly being able to work. The reasons for chuckles are typically; my business is too complex, we are different, and you dont understand my business, I am sure you have all heard these and more, yet this process has never failed. Its tried and tested. Everything else clouds your vision and makes things seem more complex than they really are.
There are, however, any number of small, middle market, and transitional businesses who have grown 3 – 5x their revenue using this very simple strategy. Again, the simplicity should not overshadow the difficulty of actually implementing it. It is tough. People are the issue. Its about challenging paradigms. Moving through false assumptions and mental models which may have become ingrained over many years.
So how do you get this right? Get your top team together. For a session with a difference. Develop that strategy that everybody can support from the get-go. Start with assessing and analyzing the things you do well and the things in which you are challenged. Be rigorous and hide nothing. Your failures reversed could just propel you to success. Failures are an indication of trying new things and just not having figured out all the kinks. Develop working guidelines for achieving success when implementing new approaches. Ensure these are in line with your companies values. This step is all too often overlooked and very quickly leads to discontent and resulting failure.
Next step is letting each team member developing process based, or even functional based priorities for the year. Present these to the group with the rationale as to their inclusion. Once they are all up there select no more than ten as the major objectives for the organization. This is not as simple as it sounds, mind you. A good facilitator will certainly help.
List those top ten objectives. Determine the metrics of success. Define monthly targets. Determine how to get the data in a format to present to your group and the company to show success.
This will be the basis of a monthly review. You will be visiting the exceptions in detail and celebrating successes. This will be the cornerstone of achieving strategic success and corporate excellence. Focused monthly review session based on the top ten objectives will place you squarely on the path to success and excellence.
Like I said, simple. Not easy.
Graeme Nichol Arcturus Advisors (http://www.arcturusadvisors.com)works with business leaders and their teams to close the gap between great strategies and mediocre results. (Newsletter arcturusadvisor@aweber.com)
A Guide To Internet Strategy And Corporate Branding
One always wants to have a good reputation in the business one is in. You do everything to build your name and establish it as a company of choice for consumers to buy quality products and efficient services at. You focus your marketing efforts towards creating an image and evoking a certain feeling when your company name and logo is seen or heard by your customers.
You have done all you can – you have chosen a company name, a logo, a catchy phrase, a jingle, and everything else under your corporate branding drive. You have ensured good quality products, prompt sales transaction, and efficient customer service – you provided your consumer with the ultimate buying experience and an excellent customer satisfaction.
What more can you do to include in your corporate branding strategy? Is there still something else you can do? How about an Internet strategy in corporate branding?
Internet Strategy In Corporate Branding – The Online Approach
Get An Online Presence – First and foremost in your Internet strategy in corporate branding is choosing website name. If your business name is still available in the Internet – meaning nobody is using it – then you can take this for your own with a fee. If no longer available, choose one that fits your company best – be creative on getting a website name. It should be short and simple so that it can easily be remembered.
Get Hosting Services – The next step would include getting a hosting service for your websites. These companies offer their web servers for you to host your name, your website and your web pages.
Get Informative and Valuable Content – This is a critical Internet strategy in corporate branding. Having an informative content on your website, with regards to the products you sell and on the industry you are in, will give your website visitors the idea and the feeling that you know what you are doing, and that you are an authority in your field. Good website content makes your customers or potential customers want to visit your site again and again to learn about recent developments and any new information you will give out.
Promote Your Website – One can do this by submitting to search engines – some with a fee while some are free. There are also methods as banner exchange, paid ads on high traffic websites and many more. Find one which you think offers the right service for your moneys worth.
Provide the Appropriate Look and Interactive Experience – Aside from website content, this is another important strategy in Internet branding – as this is a way of getting your customers or visitors hooked to your site. If you have a professionally designed website which incorporates forums, discussion boards, blogs, etc. – you will get the interactivity people are looking for.
Have a Full E-commerce Functionality and Efficient Customer Service – If you should also decide to sell your products online, you would need to get your website a full e-commerce functionality. It should be able to safely & securely accept and process credit cards transactions. Also, you should be able to deliver on time the products bought, and be able to provide efficient customer service to any issues or inquiries your customers will make.
Internet Strategy In Corporate Branding – Your Cyber Arm
An Internet strategy in corporate branding would be a good way to ride the waves of cyberspace technology. An online presence would be a good addition to getting your business message out – and establishing your company name as one to contend with in your industry.
T J Madigan has been established in online business since 1998 and is director of a number of successful online projects one of which is http://www.articles.net.au your best source for FREE articles and information.
Corporate Branding Strategy – The Tips For Branding Success
One important question for many businesses is what makes a corporate branding strategy successful? Whether a company is looking to create its own brand or to make it over, ensuring success is a top most goal.
A powerful corporate brand serves to create confidence in your business and your product and service offerings. This confidence should not only be felt by the business owner or the management team but should also be present among employees and, more importantly, the customers. While it may be difficult to weigh intangible values such as confidence, a good way to measure customers perception of your corporate brand is through sales performance. Logically, when you have successfully built an effective brand it will translate to more business – the end goal of any corporate branding strategy.
There are several important considerations in order to develop an effective corporate branding strategy. First, you need to have a thorough understanding of your customers or your target market, your business offerings including your competition. Thorough research on these areas is the first step to identifying how to best position your business.
For any corporate branding strategy to be successful, it needs the attention and commitment of the companys leadership. Confidence in the corporate brand should start at the highest level of management in order to reach all shareholders effectively. If people involved with your business believe in what you offer, this will undoubtedly create an interest in customers. They will want to give your product or your service a try because they associate with your brand a certain confidence that you will deliver what you promise.
Because your corporate brand is a powerful tool, it needs to deliver the right message about your company. That is why you need to plan your corporate branding strategy carefully not only to save time and money but, more importantly, to ensure that your brand is conveying the values of your business as effectively as possible.
If there is one other thing that your corporate branding strategy should have, it is consistency. Delivering the same message about your business every time across all medium – whether it is print, broadcast or the Internet – is the key to establishing a recognizable and enduring brand similar to successful brands such as Coke or Pepsi, Apple, Google, Kleenex, among others.
Lastly, your corporate branding strategy will not work if your goals are only set for a short period. Time is an important element in corporate branding. It took a lot of time for big brands to get where they are, so you need a solid corporate branding strategy that will survive the test of time.
In todays crowded business market, companies – whether big or small – are competing more than ever to deliver their message. As companies launch all kinds of advertising and marketing campaigns to lure consumers, it becomes more difficult for one message to stand out. Additionally, the increasing cost of marketing a new product or service makes it critical for a company to come up with an efficient strategy to promote its business. Companies utilize corporate branding in order to bring out their message effectively and efficiently.
T J Madigan has been established in online business since 1998 and is director of a number of successful online projects one of which is http://www.articles.net.au your best source for FREE articles and information.
Advertising And Marketing – Corporate Branding
In the cutthroat world of business, every company is consistently vying for the interest and attention of consumers and constantly looking for ways to expand their market. This is the main reason why advertising and marketing corporate branding is a key factor in the success of any business entity.
Some people assume that corporate branding is only important for people who are relatively new players in the corporate arena. Since they are the ones who desperately need to establish their identity and to make their presence known to both competitors and consumers as well. This is true. However, even old companies should realize that they too should give equal importance to advertising and marketing corporate branding.
It is a widely accepted concept that in order to build an excellent reputation in any industry, it is a prerequisite that the company should first work on establishing a specific identity. This would certainly vary from one company to another; depending on what image they would want to project. Advertising and marketing corporate branding strategies will significantly help the company in creating a highly effective and well-established corporate identity.
But still, not only the small and budding companies can benefit in advertising and marketing corporate branding. Since building the companys identity is not at all a short-term project than can just be discarded after a degree of success has been achieved. Creating an effective corporate branding identity is an ongoing process, a constant interaction between the company, the competitors, and of course with the consumers.
A well-managed company would take pride in maintaining not only an impeccable reputation throughout the years of its operations but also in being able to adeptly keep up with even the most imperceptible change in the markets preferences. This is one of the important factors that would ensure that the company would be able to maintain a firm footing in a highly unpredictable industry.
To be able to persistently adapt to the fickle minds of consumers and compete with other fresh and highly aggressively players in the industry, a company would need a very strong advertising and marketing corporate branding scheme.
It is important to keep up with the ever-changing market trends, and continually reinvent the image of the company according to what would be the top priorities based on the consumers perception. There are companies who have invested in constant market research and development to be able to come up with a good and effective marketing approach.
Since different industries would produce varying reactions on certain marketing stimuli, a success in one industry would not necessarily ensure its efficacy in another industry. It requires a custom made approach, backed up with extensive market and industry studies.
T J Madigan has been established in online business since 1998 and is director of a number of successful online projects one of which is http://www.articles.net.au your best source for FREE articles and information.
A Few Facts About International Business Corporation
Usually conducted in offshore commerce and investment activity, international business corporation (IBC) is an entity with such a strong influence in the global market. It functions in holding dangerous assets and segregating overseas locations which would not own directly in the APT Trust.
There are also occasions where it is practical to start a brokerage account in the name of the firm. In the law of every country, conglomerates are always recognized and permitted. However, there are standard rules that the government sets to oversee its operation and management. The banks as well have to be in proper account processing that is already fixed.
Less familiarity with the APT Trust structure was one of the major problems encountered by the international business corporation (IBC). However, at this time, it has been solutioned and it no longer requires conglomerates to tie up with the bank under its name. Except for the British Commonwealth countries because the existing civil law in Europe does not identify legal entities called as ATP Trust.
Executives need to understand that it is not a necessity to conduct trade in where the IBC originated. As a matter of fact, the primary advantage of which is its portability where it can be applicable anywhere, anytime. For example, when it has been formed in the Caribbean, they can open an account in Italy or other else including the United States. As long as they will be able to secure all the legal requirements that has been procured from them. That is where the bank can ask to see the articles of incorporation and resolution by the officers authorizing the action done. With those information together with the signatorys identification, there would be no complications whatsoever.
There are no tax jurisdictions in the Cayman Islands, US Virgin Islands and Bahamas Islands, this permits complete secrecy of propriety for international business corporation (IBC). To set parameters, one of the many domestic law firms is contacted. It will then file the registration necessary to create the multinational. It can also serve as the single member of the board but if anonymity is asked, then the shares can be issued in the bearer form. This suggests that there is no name indicated in the certificate. Instead, whoever will be the carrier will automatically be the owner.
Even just by the mere look at it, there can be several problems that can arise in the long run. Worst is that there will be lost or stolen shares from that international business corporation (IBC). Since the certificates are registered in the name name of the law firm, it immediately holds the share under an agreement to be the nominee for the legitimate proprietor. Any papers are signed by the nominee as instructed. If the APT Trust is to hold some percentage, it can still maintain shares registered in the APT Trust name.
T J Madigan has been established in online business since 1998 and is director of a number of successful online projects one of which is http://www.articles.net.au your best source for FREE articles and information.