Dr BK Mukhopadhyay
The time has arrived when we note that even the best of professiols need a team of effective information magers for ensuring an optimal productivity, an effective system of interl control skills to provide inputs to quicken the process of decision making. An attitudil change is a must in such a context as the ture of business has been becoming more and more complex. Today’s business means, clearly, becoming an intertiol player as nothing of such kind could succeed if the same remains restricted to a frog-in-the-well form. It is something like accepting that the ship looks good when parked at the harbour but the same is not meant for remaining so. Business without risk is virtually preparing omelet without breaking the egg.
Did not we think little that the airlines could compete with the railways and the then sanctioned housing loans could turn to be a giant sub-prime crisis and great recession would be visiting the biggies at a time when mankind wishes to look at the other plants to find out the existence of the counterparts?
Too Many Frontiers to Guard
On this score the choice of strategy also depends on facts and circumstances – may be one particular strategy becomes outdated or calls for supplements not necessarily by discarding the older one. This renovation is thus a continuous process. The redesigning of existing processes can effectively lead to dramatic enhancements in performance that ebles the organization to deliver greater value to customers in ways that also generate higher profits to the stakeholders. So, focusing on, measuring and redesigning the customer-facing and interl processes improvements could be there in areas like cost, quality, speed, profitability and other key areas. Arranging for such change-over calls for more than rearranging work-flows – who does what tasks, in what locations, as well as in what sequence.
Thus, the question of complacency has already crossed the Rubicon — retaining the market share in the intertiol are, coupled with efforts directed towards a higher niche in the ever-changing market environment pose as the area where skill added to strategy formulation plays a domint role. That is why the economic/ marketing policy formulation and the implementation process run hand-in-hand. The intertiol business scerio thus sa deeper look, as segregated from outward show, judging from the point of view of strengthening the market competitiveness, which, in turn, calls for intensive scanning of the emerging trends backed by alytical ability/anticipation.
It is Just Another Day
Business processes must become more mature and the institution must be able to deliver higher performance — spatially, temporally, hierarchically and functiolly. Obviously, to achieve the same the starting point is designing [the comprehensiveness of the specifications as to how the process is to executed], followed by performers [people executing the process based on skill and knowledge]; owner [persons shouldering the responsibility for the process as well as the results]; infrastructure [information/MIS that supports the process]; and of course the metrics [the measures the company uses to track the process’s performance].
Boosting of service quality, keeping in view the very ture of effective demand, is the crying need. The challenge is not only to acquire the customer, but also to retain him in the business for furthering the process of improved customer value. It is very difficult to locate an area where there does not exist competition. Rather the reality is just the opposite – intense and rising competition. Especially, in the are of intertiol business, the same is assuming complex character day by day. Fortutely, Indian products are not losing ground. Though the exports rate of growth has been receiving a downward tilt of late, yet competitiveness has been very much there and in many areas the market penetration and reputation have not that been bad compared to others, especially Chi.
Maging The Talent
Undoubtedly, in today’s world, global leadership calls for global skills. Today’s business culture demands leaders who are true innovators – they challenge virtually traditiol thoughts, using both sides of the brain. They remain the most-sought-after persons in the world of these times.
In business today, many of the most important strategy conversations are those that can close the gap between business strategy and talent magement – the very route to sustaible growth and performance through people. Undoubtedly, it is the HR function that can play the most crucial role on this score. But unfortutely, it still remains as one of the vastly neglected areas, especially in countries like ours.
The target today is to achieve competitiveness through the knowledge worker. Talent is one of the crucial assets of every organization facing an era of accelerating changes and competition — the skills, insights, commitment of individuals as well as the very teams are the raw materials of innovation, service and agility, which, in turn, means the disciplines of sourcing, developing, retaining as well as motivating high-quality people; exactly the are which are realistically becoming the key differentiators of success.
The process and the outcome are to be studied for the next course of action. The broad areas under such a change-over method include, among others, reshaping organizatiol cultures to emphasize on team performance, fixation of persol accountability, customer’s importance, and magers overseeing the tasks rather than supervising and realigning the information system so that the cross-functiol processes work smoothly than simply support departments.
Professor CK Prahalad and Gary Hamel have rightly opined that in today’s corporate world, wining in a business is not about being number one, rather it is about who ‘gets to the future first’. They urged the companies to create their own futures, envision new markets and reinvent themselves. It is the idea of core competency that actually boosted the BPO and allowed companies handover the non-core side related to their business operations to others who are willing and can. It is thus better to concentrate on the core competency areas where performance could be bettered.
The Winner is…
It is the more competent institutions that emerge as victors, while others struggle to keep their heads over water. Undoubtedly, it is the strategic innovation and not calendar-driven ritual that remains the main source of advantage in the days to come. And it is creativity, passion, and of course initiatives that help keep one stay afloat. It is the company’s ability and willingness to allow fundamental changes that help transform day-to-day functions. Tomorrow is just another day – an unpredictable one – where expectations may or may not exceed results. Facing the reality and risk-conscious approach is the best way to march ahead. An overnight success is a myth rather than a reality.