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Recent Posts

If It Ain't Broke, Break It!
Strategic Cost Reduction
Business Turnaround Strategy?
Confronting Your Reality - 10 Critical Turnaround Questions
Early Warning Signs of an Organization in Trouble

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Business Turnaround
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VAG's Blog

If It Ain't Broke, Break It!

In a recent interaction with some key CEOs in Jamaica on ways to create sustainable options, participants were particularly interested in Option #1:If it Ain't Broke, Break it!
 
Company heads felt that the approach was a novel way of looking for opportunities, and that it can create a sufficiently compelling argument to chart organizational renewal or transformation. What do you think?
 
I couldn't agree more. In today's organization, we can afford to take nothing for granted.

Strategic Cost Reduction

ShareA typical business turnaround follows a 6-Step Process as depicted in the diagram below:
 
Business Turnaround Process - OrgStrength                                  
Somewhere between in Steps 3 and 4, the turnaround consultant is going to look at “Costs”, whether as a "low hanging" opportunity or as part of the long term strategy.

Business Turnaround Strategy?

ShareThe following article is being shared with the kind permission of Methods Framework. Its author is Author Joe Evans. While Chapter 11 bankruptcy is not practiced within the Caribbean region, certainly the frequency of its use and its impact has implications on economies that are largely open and in lockstep with North America. One thing remains unchanged however, and that is the need for organizations toConfront their Realityas a pre-requisite to a successful turnaround.

Confronting Your Reality - 10 Critical Turnaround Questions

Often at the analysis phase of a strategic intervention, the reasons that the client gives for the problems being experienced tend to speak to increased competition, a shrinking market, the high cost of capital or the loss of key staff, amongst others. 
 
Hardly is it about the quality of staff, their ability to assess, develop and execute the right strategy, the quality of leadership or the discipline within the organization. But the courage to look within often is the difference between an organization in crisis or one that consistently forces weaker players into crises.

Early Warning Signs of an Organization in Trouble

Down in the Boondocks:Early Warning Signs for The Organization in Trouble
 
During a recent assignment, my client asked me “Could I have known earlier that my business was in trouble?” By “earlier” he meant before the cash dried up and before profit was eroded, which was when we were engaged.
The answer is of course “yes” – normally you can tell. Experience tells me that most companies receive clear signals when something is going wrong, and well before they find themselves in the boondocks. The issue is whether or not the signs are recognized for what they are.

Building that Accountability Culture

Common sense tells us that achieving critical goals requires people to coalesce around a sound plan. Sounds simple enough, doesn’t it? Yet, in practice it is easier said than done. On the one hand, in the real world a plan is sometimes not clearly defined and lacks clarity, timelines and even milestones. On the other hand, staff sometimes lacks the accountability to accomplish the individual tasks that are required to achieve the overarching organizational goals.
 
In real life, accountability really means one thing: the greater company good is always more important than secondary goals of the individual or a business unit.

Bloomberg on Intuitive Customer Experience

As organizations roll-out more self service options such as websites and auto phones,Bloomberg Businessweek indicates that many are failing to ensure that their systems are designed
with the customer in mind. According to Bloomberg, "one of the most common pitfalls lies in the most important and basic step in the self-service process: customer identification .... When customers aren’t recognized by automated phone systems in particular, they are forced to abandon self-service and must find alternate ways to complete their transactions, which typically requires costly, live, customer-service support.

THERM Leadership

 
Thermometer orThermostat?
 
A thermometer monitors temperature and a thermostat actively controls the temperature. But it is in understanding the difference in terms of your business life cycle, that you can  gain useful perspectives on intervention opportunities to enhance organizational effectiveness and business results.
 
From a leadership standpoint, the difference is defined by Temperature Manager/Thermostat Leader. TheTemperature Manager©