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MANAGEMENT VOICE

 

What drives success?

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Every organisation needs to understand what drives its success. In some ways it's different for everyone, but underlying everything are 6 key drivers that are good predictors of future health. Nobody is going to score top in all of them, but if you are clear where your organisations strengths are, it will be a good guide for decision making.

 

What Drives Success?

 

Time to market
Just how quickly can you make things happen? Whether internally or externally, a business that can make things happen will keep ahead and stop money running out of the business unnecessarily.

Product innovation
From YouTube to key-hole surgery, finding new and better ways to do things is a key contributor to being a winner. You might find a new supply-chain strategy (as Dell) or a way to help your friends share their videos (YouTube). Innovation is a driver of profit and performance.

Customer service
This is one of our old favourites at 3C: great customer service puts value on the bottom line. Service levels are rising in many industries, so don't get left behind.

Quality
Buyers might say they want the lowest price, but what they mean is a quality level that is good enough for them, at the best price. Quality initiatives usually pay for themselves through reducing mistakes and increasing customer service, so it makes sense to have quality on your agenda.

Employer of choice
Most organisations in the UK today deliver the majority of their value through people. Being an employer of choice means being able to attract and retain the best people, as well as organising and developing them for ever increasing productivity.

Leadership
The single biggest challenge faced by many organisations today is the lack of a leadership pipeline. For a whole range of reasons, CEOs of both public and private organisations continually put the need for leadership skills as one of their top three concerns.

But what about profit and revenues?
Note that profit or revenues are not listed here. That is because both derive from delivering on one or more of these six factors (and not the other way around).

So, take a minute to think about which of these factors listed here (one or two) really make a difference in your organisation, and how you can help deliver results in that area.

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