Best wishes for a year filled with new opportunities, growth, and prosperity. This issue of The Harper Report is filled with tips to jumpstart your progress:
- Don't wait for the economy to improve to "get your house in order." Now is the time to reassess your business strategy and improve the effectiveness of leadership and management - all of which are completely within your control.
- Focus your organization on the top three objectives that best serve your company's vision and mission. Trying to do too much too fast is a common cause of persistent problems that can build up and cause gridlock.
- Don't overlook external stakeholders. With alliances and outsourced functions taking increased importance, the boundaries of organizations can extend far beyond employees on the payroll. Considering the needs and issues of these stakeholders is critical when making plans.
- Develop a few options for meeting your objectives before committing to a course of action. While sometimes the most obvious choice is the best answer, other times "Plan B" or even "Plan C" might be more effective under the circumstances.
- Establish clear metrics for success that are easy for everyone involved to understand and refer to on a daily basis. Involving others in setting these metrics will increase the level of their commitment.
- Uncover assumptions about problems. Despite the economic downturn, there's frequently more to the story. For example, find the hidden source of problems such as a drop-off in customers, employee conflicts, and firefighting by asking questions such as "How long has the problem existed?" and "What else could be causing the problem?" Support your answers by also asking, "What evidence supports our conclusions?"
- Manage risks. Gary W. Patterson, the FiscalDoctor, suggests considering what your customers and vendors' CFOs may be thinking. "According to the most recent survey of CFOs conducted by Financial Executives International (FEI) and Baruch College's Zicklin School of Business, significant cutbacks have been, and will continue to be, necessary across the board," he said. Pam's view: it's critical to regularly update contingency plans as well as to periodically assess changes in the environment that could signal a need to shift direction.
- Use training wisely. While training and development is essential for continuously improving employees' knowledge and skills, other responses are needed to address insufficient staffing and resources, outdated policies, and dysfunctional cultures that impact efficiency and effectiveness.
- Increase transparency of communication with all stakeholders. The more that others can readily observe the connection between words and actions, the more credible you will become, which leads to greater trust and productivity.
- Maintain a "keep adjusting" mindset. The only certainty is that we're in for continuous change. The more flexible your organization is to new realities, the faster you'll be able to respond and keep moving forward, regardless of the economic twists and turns.
Are you looking for new ideas to launch the New Year?
Announcing The Art of Resilience": A New Keynote / Offsite Retreat Topic
If you lead a company, association, or nonprofit group, this topic is for you. You and your colleagues will gain insights and ideas you can immediately use to help your organization not only bounce back faster from tough challenges, but "bounce higher" than you ever thought possible. We will discuss ways to
■Respond to economic upheaval without sacrificing long-term objectives
■Find hidden opportunities for growth and profitability
■Increase your credibility with stakeholders in the middle of chaos
■Foster a culture committed to creating lasting value
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