Businesses today face a host of challenges in a rapidly evolving world. It is important to be able to manoeuvre through a maze of challenges and complexities with flexible alacrity to ensure that they stay on top of the game.
Along with the business, complexity also grows and effective strategies need to be formulated at every step to be able to match the growth. In a lesson from experience, the best and bullet proof business strategy that will give assured results and help any business grow by leaps and bounds is an investment of time, resources and money in people and by people, we mean the holy trinity of employees, vendors and customers.
Employees:
Employees are the engines of an organisation and power its growth. A motivated workforce is an asset to organisational success since they are attached to the company and the brand emotionally. The key to motivation is empowerment and the underlying idea of offering genuine benefits and growth to employees, establishing a culture of accountability and the management living its values. Though money is a big motivation, people work for much more than cash.
Vendors:
Not all businesses are self sufficient to provide end-to-end products and services. So that means that some businesses are dependent on vendors to fulfil some of their requirements. While a lot of care goes into designing rigorous processes to choose a vendor, it is important to remember that a balance must be struck between cost and quality. Another key point to remember is that vendors need to be paid on time and treated fairly at all times. They are the invisible body parts of a human organisation and hence it is important that they are used effectively to write the writ of organisational success. Good vendors are a balance between cost and quality and must match the organisational culture and mindset to have synchronised steps of symbiotic growth and success.
Customers:
Customers are in simple terms the lifeline of an organisation and the real owners of any business. It is vital for businesses to offer good value for money and at the same time offer endearing and aesthetic solutions and services. Customers drive the direction of growth. It does not mean that businesses must go out f the way to please customers. That is never going to happen in a practical world since people have different perceptions. Rather, the trick lies in educating customers about the services and products of a company, how it is going to be beneficial to them and fill the gaps in their needs and requirements.
The underlying principles of genuineness create a culture of human relationships than more than just formal, professional or businesslike. When thoughts resonate in unison, successful solutions are created in it lies the key to a better world.
Thoughts? Do reach me at engage@eternityprovide.com
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