Creating an environment of eager and empowered staff

As said last week, inviting the perspectives of your management team and staff empowers individuals to take initiative and think strategically.  Productivity, efficacy and efficiency are pretty much a job expectation and a paid for service, but how can you make someone want to do something better? If we didn’t have to work, we wouldn’t. Yes, we need to find …

How not to fear Company Growth

Growth is a natural evolution of adapting to changes over time. Even if your company does not grow in size, complexity, market share or turnover – there are fundamentals of change inherently happening in your company. The environment and market you operate in is constantly changing. Your staff are growing and changing over time – individually and collectively as a …

How To Transition from Income Generating to Profit Generating!

Understanding the transitioning from an income generating (craft) to a profit generating (enterprise) entity From what I have seen, many SMEs are the result of what could be called ‘accidental entrepreneurship’. With many South Africans needing to provide their own income steam due to the high demands on the employment sector, many take the leap to create this income stream …

There is just too much theory, processes and format!

This month we will focus on defining and understanding what is right for our own businesses, as what is best practice for one entity might not be the best practice for another. What does the term best practice mean?  From Wikipedia: “best practice is a method or technique that has consistently shown results superior to those achieved with other means, …

What value is being created through your business?

Knowing what practice is the right practice for your business goes hand-in-glove with the value you want to create.  As your business grows, so does the value expectation.The term ‘blended’ or shared value has been around for a while yet it lacks active consideration in many SME’s. What is shared value? It basically evolves around value based leadership – where …

Strategy – Is it a buzz word?

Strategy as a practice The word strategy normally puts fear into most managers as we seem to think it is delving into the unknown.  Strategy is the future and at first, the future is uncertain. So what is the meaning of strategy? Changing the way we think about the future Max McKeown, author of The Strategy Book argues, “Strategy is …

Are you having strategic conversations with your management team?

Strategic conversations provide a framework of direction for your company through the creation of actionable steps that lead to a desired outcome.  How to have strategic conversations? Communication and a circular management approach is key to having strategic conversations with your management team.  These stakeholder’s perspectives create the process of strategic conversations through the wider variety of ideas and possibilities …

Building your competitive advantage

So what is competitive advantage in business? The goal of a business strategy is to achieve a sustainable competitive advantage that allows an organization to outperform its competitors. These attributes may include access to natural resources, location, skills, and new technologies and so on. Advantages should lead to higher margins than those of your competitors. A business’s sustainable competitive advantage …

(Part 1) Developing Strategic Capability and Practical Wisdom

We now understand what the term strategy means to our business and team, but how do you go about developing the management tools to help you create the right strategy? In the next few weeks we will look at developing management’s strategic capability and practical wisdom. Strategic Capability It is said that strategic capability is the “ability to imagine plausible …

(Part 2) Developing Strategic Capability and Practical Wisdom

Practical Wisdom “The ability to take the right actions at the right time and for the right reasons.” To adequately deal with situations that involve human interaction, character is needed.  Aristotle called the character traits that deals most effectively with this interaction practical wisdom.  People with practical wisdom have the moral will to do the right thing and the moral …