Analyzing your business is key for transforming the business.
What you will learn
Eight Management essentials
Transforming the business
Vision and planning
Commitment to quality standards
Vision inspires, empowers and generates support. Vision leads to strategy and the development of a plan of action. Strategy creates efficiency because individuals then share common ground for each major decision and have a basis for implementing the plan. Achievement of quality products should begin by incorporating this as a part of the company’s vision. This can be through a published quality statement . This ensures the creation of a standard to achieve the targeted quality-levels.
Leaders set the tone for all of human relationships within the firm. If they set a poor example, the possibility for teamwork and cooperation would be inhibited. The overall morale and motivation would be adversely affected. Good decisions ensure business viability and should be made by taking the overall picture into account. In general, the decision-making style or approach influences the entire firm.
The visions and plans of the organization should have strong financial fundamentals. Those responsible for budgeting and financial controls also need communication and people skills, in order to work with non-finance managers. Marketing presents a coherent and positive image of the company to the outside world. To be effective, marketing plans should be based on current data and the public’s perceptions.
Business communication refers both to personal level as well as to the system devised for enabling the smooth flow of information throughout the company. Regardless of the industry, good personal communication skills maintain the relationships intact and thus benefit the business. For many traditional managers, IT is an unchartered territory. So, they neglect it. This attitude can isolate them, as electronic systems now virtually dominate the exchange and storage of information.
Successful businesses have 5 features in common. These companies:-
•Are led by visionary and enthusiastic leaders
•Know their customers
•Unlock the potential of their people
•Deliver products that exceed their customer’s expectations
•Continuously introduce differentiated products and serv