Category - Change Management

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The SWOT Analysis
4 Tactics For Facing Setbacks
Create Workplace Wellbeing Programs
What Competitive Advantage?
Why, When, and How Should a Business Change

The SWOT Analysis

The SWOT Analysis is an extremely useful management tool.

The acronym stands for Strengths, Weaknesses, Opportunities, and Threats.

The tool is explained as one of 55 useful management tools in my book “55 Really Useful Management Tools” available from Amazon.

You can use the SWOT Analysis during planning exercises in order to understand where your business or one part of your business is at the current time. You can use the SWOT Analysis to review a process or procedure to see whether it can be improved. You can even use the tool to review the performance of a team member or team itself. It has multiple uses as an analytical tool.

But what is it? And how do you use it? Read More

4 Tactics For Facing Setbacks

Sooner or later we all face setbacks.

Some are not serious. Perhaps it’s a potential lead that you’ve been courting, and they finally make up their mind not to go with you. Sure, you’ve wasted some time, and sure you could do with the extra sales, but you move on to the next lead.

But what happens if it’s more serious? What happens if it’s a group of clients that represent half your business who decide to go elsewhere? What if it’s a fire, or a serious accident, or the death of a key person in the business? How do you face a serious, potentially business-breaking setback head on and come back from it?

Read More

Create Workplace Wellbeing Programs

There are some well-established studies that show that “wellbeing” in the workplace makes a lasting difference to the bottom line.

Apart from these studies, by university psych departments as well as business schools, it’s logical if you think about it. Employees who are uncomfortable at work, who carry problems into work and don’t find a release at work, logically are not as productive as happy, engaged employees.

Employees who are engaged at work – who identify with their teams and the company, who feel pride in theirs and the group’s achievements, work more productively. Unlike their disengaged, unhappy counterparts, they jump at the chance to contribute to something they believe in.

All workplaces try to create “wellbeing” in one form or other. Think of the Friday drinks. But workplace wellbeing, leading to solid employee engagement is more than just the regular social event.

How do you create a working wellbeing program?

Read More

What Competitive Advantage?

I live in Perth, the capital city of Western Australia.

It’s no secret that we have a terrible public transport system, and our roads are clogged. So if you don’t want to drive, you tend to leave public transport and look for a taxi.

Now if you run a taxi business, you are almost in a monopoly. There are only a handful of taxi companies, most contract self-employed drivers. The taxis are licensed by our State Government – that means they regulate how many licenses are available at any one time, supposedly through a needs basis (but ask any Perthite and they’ll tell you the taxis don’t meet the demand).

So if you did run a taxi company your competitive advantage is the fact that there are a limited number of competitors and that there was a high barrier to entry into the industry.

So, you create strategies around that competitive advantage. Your strategies might include better advertising that others, better technology to get your cabs there first, more efficient cars to reduce operating costs, and so on.

So what’s wrong with this picture of strategy creation?

Uber. Read More

Why, When, and How Should a Business Change

Moore’s Law states that in the field of computing, computer processing speed doubles every eighteen months!

Just as much as computers impact modern business, the fields of business knowledge and business science are also increasing exponentially, and while I’m not aware if any similar Law has been stated for the growth of innovation in business, anyone can tell that business today has changed exponentially from business just 5 years ago.

Yet, you say, my business is actually thriving, why should I change?

Well, if your business is thriving today, good for you, because we are in difficult economic times. But how confident are you that your business will continue to thrive, and for how long?

Read More

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