Wednesday, December 9, 2009

What's going in CEO or MD or Business Owner's mind?

Before we talk on optimizing business, I think that its apt to talk about what is going in CEO or MD or Business Owner's mind? What do they want? Are they interested in any of these frameworks? What outputs they wish to achieve for their organization?

Below, I am trying to list some of the parameters (list below is not exhaustive but indicative) which they might like to measure, track and improve for their organization:
  1. Profits (YoY, QoQ)
  2. Revenue (YoY, QoQ)
  3. Customer Satisfaction (YoY, QoQ)
  4. How many new products or its variants launched and market response?
  5. No of new customers added or retained
  6. Attrition or ability to retain best talent or employee satisfaction
  7. Best Recruits or Ability to attract best talent or how industry perceives us?
  8. Awards or recognitions in the industry
  9. % of market share compared to competition
  10. There are more depending on nature of organization

If top management wishes to address above parameters than what approach should they adopt? or which framework should they deploy? Should they invest in circle of principles? If yes, how? How much?

We will discuss more on approaches and their mapping to business critical parameters in next discussions.

Note: We encourage you to participate in this blog and add your comments on what parameters interests CEOs/MDs/business owners? and Which approach do you prefer to address them?

More later,

Sunday, December 6, 2009

Circle of Principles (CoP) for High Performing Teams (or Businesses)

We all know that to grow the business and to sustain the growth over time, teams need to continuously look/measure customer satisfaction, employee satisfaction, revenue (top line) and profitability (bottom line) as a bare minimum.

If anyone of these goes down, it will be just matter of time that business or organization collapses and it may take significant time and effort to bring it back to its glory.

To achieve above business parameters, we need many high performing teams. High performing team is the one which keeps their commitment (on-time delivery), with best of quality, with right set of features or requirements, keep it in budget and with every project, teams becomes even better.

To do that, businesses/teams needs to adopt Circle of Principles (CoP) as mentioned below:

Quality over Time
Mentors over Managers

Innovation over Compliance
Team Spirit over Individual Excellence
Leading Indicators over Lagging Indicators
Lean Documentation over Comprehensiveness
Measurement of Goodness over Defects
Face to Face Interactions over Emails
Collaboration over Competition
Automation over Manual
Facts over Intuitions

CoP has 11 principles which enables the teams to satisfy its customers, reduces overheads, increases interactions, keep them focused/accountable/happy and in turn grows revenue/profit of the business.

To understand these principles better, have "Prefer" as prefix e.g. Prefer quality over time or prefer measurement of goodness over defects etc. Items on both sides of 'over' are important however businesses/teams which chooses items on left side have more chances of success over a period.

We can discuss each one of these principles in our talks with ample examples whenever we meet.

Hariprakash Agrawal,,,