Recapture the Innovative Edge in Your Organization
Bangalore: In today's chaotic global economic condition every workforce strategy planned must be assessed for both short and long term survival capability. Most of the senior management professional prefers ever reliable "competitive benchmarking techniques". The popular best practices perform well for incremental change, but are not reliable for unstable economic conditions. Innovation is the need of the hour and status quo, legacy behaviors and long institutionalized policies are the major causes of preventing innovation.
To succeed in the present competitive world the HR leaders need to leave their age old workforce strategy and embrace the unfailing "Next Practices". Next practices are methods, ideas and configuration that vitally transform the way an organization operates and behaves. This adds value (Potential ROI of 5% to 50%) and boosts the firms' internal ability to perform. Here are the steps to create Next Practices.
First Step: Formulate a Winning Vision
The first basic for "Next Practices" is to build a compelling vision for the organization. The vision should articulate the values and aspirations of the whole team. The secret is to create a thorough, challenging and brave vision for the team that will take them to the next level, just like Deceased Apple CEO Steve Jobs.
Second Step: Identify the Change in Your Space
Market stagnation, technology progression and demographic shifts are the vital factors behind formation of a next practice. One has to define the change and its impact on sensitive matters like value proposition, profitability, target market, workforce, etc. Then evaluate overall industry trends and early signs of both overt and covert change. For example, Red Digital with high definition movie cameras significantly altering movie making process.
Third Step: Classify Resources
While executing "Next Practices" one has to consider the full scope of the resources needed, and their effect in organization's policies and work functions. The vital facets needed to be measured for this purpose are people, infrastructure and capital. For example, the reason behind the grand success of General Electric is their ability to adapt resources to exploit the market opportunities.
Fourth Step: Prioritize
The prioritization of next practices execution depends on certain key aspects. Their significance is established by investigating the business impact, necessity, significance and involvement in the firm's profitability and several other factors.
Fifth Step: Managing Cross-Functional Groups
An organization that supports creativity equally in individuals and team is the best place to accomplish next practices innovation. Cross-functional teams are the best bet to pull off Next practices, as they do not exhibit "tunnel vision" and "management myopia" like single functional teams. Hence, they are more open to bigger organizational concerns or implications.
Sixth Step: Developing Next Practices
The fundamental selection standard to channel next practices development involves several factors. These factors facilitate in boosting decision making process, value proposition, and simplifying bureaucratic process. It is seen that 5 to 50 percent increase in ROI rate is a sign of a true breakthrough.
With the aid of "Next Practices" one can put their organization in the driving seat in the market competition by engaging employees and increasing its value proposition.
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