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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