Sodon Ka: Mar 20, 2009

Competing for the Future: Metrics that Determine Tomorrow's Results

0 comments Published Friday, March 20, 2009 by sodonkaftbrvei.

Hamel Internet Over Phone Service Prahalad wrote Free Drawing Of Roses management bestseller John Deere Work Boot this title in 1996 in the wake First Tech Direct the cost cutting and down-sizing fads of previous years. They emphasised the need for a strategic intent that dominates management thinking and a determination of the competencies Fl In Sale Trailer Travel Backup Game Pc achieve this intent. Here we look at factors that determine the ability of an organisation to perform in the Cum Movie Shot Chief among these are the human capital of the organisation and the capabilities they bring to the Moffit Cancer Center By measuring these factors an organisation can see where it is likely to be down the line.

Human Capital Creates Intangible Assets: An organisation's human capital asset has been defined as the "collective sum of attributes, life experience, knowledge, inventiveness, energy and enthusiasm that its people choose to invest in their work". The notion of choice in the definition is a very crucial one. Its implication is that organisations that want to get the best of their people will seek ways to influence their choices in favour of the organisation. Such organisations will try to increase their employees' level of workplace satisfaction.

Employee satisfaction is linked to 60 Flat Lcd Panel Tv results through better retention of good people, and improved productivity and is thus an important indicator of future business performance. Research shows that the following actions have a positive impact on business results by New Houses Colorado Springs employee: total rewards and accountability, flexible workplace, recruitment/retention excellence, communications integrity and HR services technology.

Human capital typically adds value to the organisation by creating intangible assets that can include superior processes, patents, copyrights, goodwill etc and form the basis of competitive advantage.

Using Capabilities Required by Chosen Strategy: To create the future it has articulated in its vision and strategy, an organisation requires matching capabilities (which as we have seen, reside in its people, systems and processes). For example an organisation that wants to win through the continuous introduction of new products or services requires the capabilities, certainly of innovation and possibly, speed-to-market. Another organisation whose strategy calls for a low cost approach to a mass market requires process excellence (lean, just-in-time etc) capabilities. Other strategies may require capabilities like the ability to forge partnerships, customer engagement etc.

Whatever its strategy, an organisation must identify the matching capability requirements. Managers must then create appropriate metrics by asking, "how would we know if we had this capability?"

Enabled by the Organisational Culture: The capabilities that can exist and thrive within an organisation are those enabled by the culture of the organisation. For example innovation will thrive within an open, risk-tolerant, stimulating culture as opposed to a guarded, risk-averse, staid one. Culture thus provides the "operating system" and determines what accepted, and what is possible in a given organisation. Managers, particularly top management, must be aware of the cultural environment of their organisation and ensure it supports the strategy. To successfully compete for the future, organisations must create a culture that enables them to fully employ the capabilities of their human capital to realise their strategies. They also need measures of employee satisfaction, organisational capability and culture to help them stay on track.

Samuel Okoro is the CEO of Leapfrog Alliance Ltd, a management training and consulting firm that helps organisations to reduce costs and improve quality through better business processes. His personal passion is to help move Third World business to world-class Hotel Ra Tarragona For further details please visit http://leapfrogalliance.com/resources.html

Competing for the Future: Metrics that Determine Tomorrow's Results

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