Predicting the future is a tricky business but managers need to have a future perspective in order to take business advantage and remain competitive. They need to drive and introduce constructive change to the business of the enterprise. The first step to creativity and innovation is to drive a culture of Innovation. Managers need to focus on developing future mindset all the time to keep pace with the unfolding future.
One needs to have some broad awareness of whether the future is tending.
There are thousands of services, from the provision of spectacles to the development of your holiday plans, where the customer wants instant results. The industry-wide waiting time is fast reducing from days and hours to minutes. A conceptual shift is needed in the manager’s mindset to drive change toward getting as close as possible to an immediate meeting of the customer's needs.
Response time is getting better in the banking industry. Most banks provide the facility of instantaneous account debiting by automatic tellers at any time of day or night. In Manufacturing industries, the time value of information is gaining respect, and monitoring of the production line is in real-time. Service industries are trying to answer a business query immediately which is in turn, beneficial for both the customer and the provider. Computer-aided design and development is enabling the culture of straight to production and consumption. Innovation is constantly driving change across all industries.
Anyplace Customers want the service where they want it. They don't just want it where the supplier thinks it's convenient to hold it. They want it at anyplace. Already there are plenty of examples of this. Mobile has replaced so many gadgets like phone, pocket calculators, camera, heart monitors, step trackers, computers and desktops, etc. Earlier we would have had to go to the office to use a desk one for sending emails. Month by month the number of people who carry the phone around with them is growing, and they no longer have to go to where the phone is. They practically wear it. Portable computers of the lap variety enable business people to do their spreadsheets on the plane; home entertainment systems are now designed for self-assembly, so that you no longer have to wait for the technician but within an hour of purchase you are enjoying the fruits of your investment, having taken it home in two or three boxes in the car.
The customers today do part of what would previously have been done at the factory. The manufacturing chain of the goods and services ends in the hands of the consumer in their own physical space. Those who provide goods and services in a real-time gain a competitive edge over those who don't there is no time lag between the identifying of a need and its fulfillment.
The technology is there. It is simply that managerial thinking hasn't caught up with it. This is where future mindset comes in, developing all the time to keep pace with the unfolding future. The ability to provide the product in any place is facilitated by the advancement in electronics, whereby a million electronic components can be placed on a quarter of inch square of smelted sand. The information carried by electrical impulses demolishes space as well as time so as enables the customers to enjoy both benefits. No doubt all these innovations brought a lot of unwelcome change to those who preferred the status quo, but those with the future mindset like Apple, Google, and others not only survived but prevailed and emerged as winners.
There always existed an interrelationship between physics and management. Both physics and management are concerned with "the interrelationships of the parts with a whole". Time, space, and matter are fundamentals of physics, as equally fundamental to the shaping of tomorrow's business and organizations. The first dimension of physics which links with business needs is time. As we respond to and persuade customers, they use time until they decide to buy. Then we deliver, we are using theirs. We have to shorten the elapsed time between their decision and the fulfillment of their need. The customers want the product of service when they want it, not when the company deigns to provide it. They want it any time, and as explained above, technology already provides many examples of meeting this need.
These concepts of any time and any place are changing the way organization operates:
Managers need to focus on building innovation culture by facilitating collaboration across organizations, building the breadth and depth of knowledge, and improving the value that any function provides to the business. They need to facilitate the continuous flow of information, within their departments. Help their team understand business strategy and their own expected contribution. This will enable them to contribute true value and innovation, not just repeat established processes.
Cultivate a culture where employees share know-how. The sharing of knowledge and the dissemination of expertise throughout the organization is critical to its ability to innovate continually. Make sure that your change initiatives and programs are actually going to add to customer value. Make sure that solutions are sustainable and scalable as the business grows and are cost-effective.
Recognizing Stress & its Sources
As an individual, you almost certainly know what stress feels like. Stressors are events or situations to which people must adjust. Stressors may be physical or psychological in nature. The level of severity of stress is determined not merely by exposure but the intensity, duration, and frequency of stressors. The sources of stress are many. They arise from multiple areas both with the individual and from the environment.
Charles Darwin had once commented that “It is not the strongest or the most intelligent who will survive but those who can best manage change.” Agility means the capability of rapidly and efficiently adapting to changes and recently, agility has been applied in the context of software development, agile enterprise, and agile leadership. Agile leaders play an important, even essential, role in scaling agility in an organization. Understand how being an agile leader helps in effectively catalyzing organizational change.
How often do you have a plan for how you are going to spend your day but you aren't able to complete the tasks on your plan because of unimportant tasks, interruptions, or your own procrastination? Wouldn't it be great to be able to manage your schedule and your time while avoiding, or at least controlling, these time stealers? Learn the strategies to manage your schedule while still handling interruptions and demands on your time.
Understanding Corporate Strategy
Management outlook and procedures have been revolutionized by more and more innovations over the recent years. It is no longer possible to follow traditional approaches to develop your organization's direction, its management as well its effectiveness. Senior managers need to be good decision-makers. In this section, we introduce concepts for strategy, strategic planning, strategic leadership, their exact meaning and associated terms, and how to use them.
Reasons behind Wastage of Time
Under-utilization of time may be due to the faulty system or faults of manager/officer/leader or due to lack of planning. There could be many factors driving the procrastination behavior like system issues, personal work habits, and lack of delegation, personality traits, and bad working habits of the leader, failure to tackle interpersonal conflicts, obstacles, and lack of far-sightedness.
Stress is an essential part of our life. No one can live without stress. Stress can be beneficial as well as harmful. Stress as a positive influence adds excitement and hope while as a negative influence it can result in destructive feelings, anger, and depression. Although the general orientation to stress is to consider unfavorable outcomes, yet one must have observed that stress experiences may also facilitate the development of effective and varied coping behavior, increased personal resources, and lead to a sense of competence in development. Stress at a moderate level is not only inevitable but may be useful for physical and mental well-being.
Change is a complex phenomenon. There are different types of changes that are going on around us. Listed in this article are twelve areas in which change arises and bring some classification to it. However one may classify the change, the various heading is always interrelated. The change could be triggered by market changes, technological changes, or organizational changes.
Storming Stage of Team Development
Storming is the second stage of team development and this stage is characterized by a bid for power and inter-personal conflicts. Learn the key factors that occur in the storming stage and the strategies that a team leader can adopt to pass this stage of high winds
At different points in your professional career, it is helpful to identify your core values. Values are the qualities considered to be the most important guiding principles that determine the priorities in your life and greatly influence your career choices. Your career brings happiness when it is in agreement with the beliefs you have about what is important and meaningful to you. Awareness of your values will help you develop a clearer sense of what's most important to you in life.
Benefits of Teams in Workplace
The use of formal work teams is commonplace in modern organizations. But why we have teams? What are the benefits or advantages that teams provide for organizations and employees? Do we really need to adopt formal team structures and use team-building approaches in organizations? Read this article to explore and learn the benefits of having formal teams in organizations.
© 2023 TechnoFunc, All Rights Reserved