challenges facing businesses week 4 march 2011

8/6/2019 Challenges Facing Businesses Week 4 March 2011

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Business Management

Challenges Facing Business, Public Sector , Private Sector ,

Organizations'

How do they plan for and react to ?


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Can Simply Be Put As :Can Simply Be Put As :

Reducing Costs

Creating Value

Increasing Agility

Scale Operation up or down

Get Products to the Market Place Faster

Promote Better Customer Satisfaction

Improve Job Satisfaction


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Examples of Specific ChallengesExamples of Specific Challenges

Legislation

Environmental Pressure

Worldwide Economic Downturn

Government Intervention

Industrial Relations

Loss Of Consumer Confidence

Production Problems

Supply Chain Issues


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Examples of Specific Challenges 2Examples of Specific Challenges 2

Keeping pace with technology

Impact of Interest Rate Fluctuations

Foreign Exchange Fluctuations

Adversarial Takeovers

Working Capital , Cash Flow

Sustainability

Unrealistic Budget Targets

Corporate Manslaughter


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Examples of Specific Challenges 3Examples of Specific Challenges 3

Litigation Councils Equal Pay Challenge

Loss of Market Share

Skills Shortages

University Funding Changes

Reduction in the size of the public sector


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How They Can Be Overcome ?

Introduce Sustainable Business Processes Align Your Organization For Change

Educate Your Workforce Transform Your Corporate Culture Overcome Resistance To Change

Enhance Employee Performance Communicate Change Create Sustainable Change


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Introduce Business Processes

Risk Management Strategic Planning Corporate Budgeting and Planning Process Business Process Re-Engineering

Emergency Planning

Business Continuity Planning Service Improvement Planning

Curriculum Review


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Aligning Your Organization For

Change Build Consensus around Project Objectives

Getting a diverse group of individuals toagree on project goals and objectives canbe almost impossible

Amid a set of competing priorities andconflicting agendas , its a major challenge


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Educate Your Workforce

Success depends on Employees ability tomake critical decisions and adapt to

unique situations

Proficiency and the ability to adapt critical

processes to new situations is key


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Educate Your WorkforceEducate Your Workforce

In an era of the Aging Workforce , highIn an era of the Aging Workforce , highturnover of younger staff and theturnover of younger staff and the

economic challenge of more for lesseconomic challenge of more for lesseducating is a challenge.educating is a challenge.

New trends in online learning andNew trends in online learning and

increased emphasis on learning's impactincreased emphasis on learning's impacton business results has spurred innovationon business results has spurred innovationin learning management systems.in learning management systems.

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Transform Corporate CultureTransform Corporate Culture

Bringing about significant change in theBringing about significant change in theway an organisation works is tremendousway an organisation works is tremendous

challenge.challenge.

For innovation and growth cultural changeFor innovation and growth cultural change

will often be necessarywill often be necessary

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Transform Corporate CultureTransform Corporate Culture

It means changing basic values , norms ,It means changing basic values , norms ,beliefs in order to improve performance,beliefs in order to improve performance,

e.g. Customer care policiese.g. Customer care policies

To achieve :To achieve :

complex, time consuming, requires extracomplex, time consuming, requires extra

effort , vigilance , demands patience andeffort , vigilance , demands patience andrequires long term support.requires long term support.

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Overcoming Change ResistanceOvercoming Change Resistance

Change is InevitableChange is Inevitable

The most effective leaders and managersThe most effective leaders and managersknow that managing change , adoptingknow that managing change , adoptingnew technology and implementing newnew technology and implementing new

processes are integral components toprocesses are integral components torunning a successful businessrunning a successful business

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As inevitable change is, it is also inevitableAs inevitable change is, it is also inevitablethat there will be resistance to changethat there will be resistance to change

e.g. Post Office, Public Sector, Universitye.g. Post Office, Public Sector, University

A leader has to identify ways to addressA leader has to identify ways to address

and eliminate resistance to change.and eliminate resistance to change.

People fear change they dont understandPeople fear change they dont understand1414


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Its Critical That You :Its Critical That You :

Inform people about changeInform people about change Communicate benefits , opportunities andCommunicate benefits , opportunities and

the what's in it for me question.the what's in it for me question.

Provide skills , knowledge and tools toProvide skills , knowledge and tools tosucceed.succeed.

Address questions , concerns and needsAddress questions , concerns and needs

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EnhancingEnhancing EmpEmp. Performance. Performance

Aim is to seek better overall performanceAim is to seek better overall performanceand a competitive advantage.and a competitive advantage.

Need more for less , reduce operationalNeed more for less , reduce operational

inefficiency and more productive work.inefficiency and more productive work.

If above true then one of your goalsIf above true then one of your goals

should be to enhance employeeshould be to enhance employeeperformance.performance.

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EnhancingEnhancing EmpEmp. Performance. Performance

You need to build programmes to broadenYou need to build programmes to broadenemployee competence ( its a challenge)employee competence ( its a challenge)

Mapping skills ,P.D.P. a progressiveMapping skills ,P.D.P. a progressivelearning approach , generating excitementlearning approach , generating excitementand measuring success requiresand measuring success requires

knowledge and expertise which you mayknowledge and expertise which you mayhave to buy in.have to buy in.

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Communicating ChangeCommunicating Change

It is impossible to overIt is impossible to over--communicatecommunicatewhen you are asking your organisation towhen you are asking your organisation tochange.change.

Changing Environment and increasinglyChanging Environment and increasinglycomplex workplace makes communicationcomplex workplace makes communication

more important than ever.more important than ever.

Ineffective communication can be veryIneffective communication can be very

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Communicating ChangeCommunicating Change

You need to decide :You need to decide :who to communicate withwho to communicate with

what needs to be communicatedwhat needs to be communicatedwhen to communicatewhen to communicate

how to communicatehow to communicate

You Need a Strategy !!!!!!!!!!!!!!!You Need a Strategy !!!!!!!!!!!!!!!

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Sustainable ChangeSustainable Change

Enterprises that fail to prepare andEnterprises that fail to prepare andsupport their workforces for major andsupport their workforces for major and

continuing change will miss businesscontinuing change will miss businessobjectives by at least 30%objectives by at least 30%

Change is a Process not an Event !!!!!!Change is a Process not an Event !!!!!!

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Sustainable ChangeSustainable Change

To realise long term business results thereTo realise long term business results theremust be a plan and contingencies in placemust be a plan and contingencies in placefor supporting and educating yourfor supporting and educating your

workforce beyond the implementation ofworkforce beyond the implementation ofthe go live stage.the go live stage.

The End (Or Not)The End (Or Not)

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challenges facing businesses week 4 march 2011

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