Companies spend many resources in designing new ideas and ways of doing things. Unfortunately, much can be structured in meetings and change seminars but as soon they end, minutes are filed and no one may take the initiative of following up such deliberations. Such outstanding plans may later attract skeptics, insecurity and mistrust among top managers, especially those who are likely to lose as a result of the proposed changes.
The truth is that annually, many organizations develop many positive convictions but hardly go into details of developing a realizable implementation plan. Change requires a lot of practical tactics to avoid the resistances that come from various stakeholders. However, to successfully initiate change in any business, you need to involve all the stakeholders and win their confidence that whatever will be implemented will benefit the whole organization. Remember that the results of the intended change matter than the methods.
Every successful change must follow a certain implementation sequence. You will eventually fail if you implement a proposed change at once. To facilitate a smooth way of implementation, you need to learn the business culture so that you can know what stage of business growth is ripe for change. Change should be implemented so tactfully that many will not feel its effects. Have in mind that people will be curious to see the results.
Anyway, patience must be developed when a new way of doing things come into being. A sudden positive result may not be achieved but eventually, the desired goal will be a reality for a well structured change.
Economic crisis is not the cause of business collapse
One of the most deceiving business ideas is that by putting your eggs indifferent baskets, you are going to be successful. Most of the managerial trainings include what is commonly called ‘portfolio management’. This theory supports the idea of investment diversification. This is why managers think that during bad financial moments for the business, they need to diversify their investments in order to reduce the risk of losses. This may not be a solution if the management style is wrong. A poor manager will still fail even in a diversified portfolio.
Many are left wondering about what they should do if diversification is not working. The truth is that diversification should only be left for those who are not sure of making it in one line. Instead of diversifying your investments, you should be thinking of specialization.
You should be looking for the best business strategies that can make you a king in your line of operation. Unfortunately, many business managers view success as only retaining some profits for the business. Very few people are endeavoring to be the most outstanding businessmen.
Monday, August 17, 2009
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