By Raúl Gorrín
.Growth opportunities are different from the core business. The core
business is the present. It is the present productivity of the company. What is
happening today. Management on the day to day business requires working
with manufacturing. Keeping its cost down, while at the same time keeping the
quality high.
Core business principles would involve a business plan
involving sales strategy, operational and financial management, distribution
strategies and roll out, risk management, time management, business liability
assessment, project management, financial evaluation and projections, IT
support, planning and development, policy and procedure, production, labor,
accounting, banking, financing and shipping.
It is a comprehensive range of business services
geared to helping you develop a well funded, structured business. Your core
business pays the bills for today and allows your company to have that clean
bill of health. The day to day business is to keep your customers happy.
Delivering the services or shipping the product on time.
There is an old business saying that a successful
business has two concerns…
Today….
And …
Tomorrow.
The complexity of running the day to day operations of
a company requires talented management, skilled workers and an excellent sales
force. There are many companies that are successful one year and go out of
business a few years later. One of the reasons is not having proper planning on
growth opportunities. What sells today and is making the company very
successful will probably be obsolete one year from now. A company needs to find
and nurture new-growth opportunities. Without a means toward future growth a
present day healthy and profitable company will find that it is a recipe for
stagnation. Stagnation without growth will with time lead to the death of
that company. The odds of success are long, even for the best ideas, and in
most companies the number of talented mavericks can be counted on one
hand.
Success in creating new growth again and again lies in
developing a systematic, organizational capability to identify, shape, and
nurture new-growth initiatives. And the responsibility for doing that lies with
the CEO and the entire senior management team.
Planning on future growth may involve, investment in
research and development, employee training. It is a complex balancing act
between growth and the day to day core aspects of the business. Management must
learn to create innovative new-growth initiatives without losing discipline and
focus on the core business. Reconciling the pressure for short-term
earnings with multiplying requests for seed funding. Supporting innovative
thinkers and risk takers without signalling neglect of the core business.
Finding the time to guide and coach new-growth teams without neglecting the
other burning issues on the agenda.
Then let’s not forget the sales force and advertising
department in getting the word out and making the company more attractive based
on future products. No company is more successful than Apple Computer by
talking about future products and creating the excitement for the company based
on their future ideas.
It is no easy tasks for a company to balance its
growth opportunities with its core day to day operations. By Raúl Gorrín.
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