The changing business landscape has resulted in many an organisation scrambling to evaluate, understand and use resources it has in-house and competencies competitively. There’s no one-size-fits-all sort of model in order to do this. It’s a painstaking process but one that’s’ really worth it, if you want to ensure long-term success.
In this post I’m putting forth three tips that would help you evaluate, understand your resources and competencies and help you develop a successful, long-term strategy.
- Clarity: Provide clarity to your senior functional heads and their teams on what are the business goals and how the organisation can achieve it. Clearly identify what are the key competencies available and ask your senior team members to evaluate if those competencies can deliver the service of the organisation, in market, by the resource available. By providing clarity on what are the business goals and the competencies that (as a leader) you see, the entire organisation knows what areas are their key strength and how to support the same to have the competitive advantage.
- Understanding: Evaluate the competencies on the basis of:
- Is there competent human resource in key functions?
- Is there a culture of cross-functional team work in order to deliver on time and with quality?
- Is there a need to invest in specific technology?
3. Cultivating: A competency mindset that:
- No Silos–Thinks of individual business units as profit centers yet has line of sight with the organisational business goals and engages cross-functionally, in order to contribute to the same positively.
- Accountability with Empowerment: Identify and empower staff, behind key competencies and ensure understanding that the competencies are a corporate resource and not of an individual business unit. Hold them accountable for performance deliverables.
- Responsibility: Empower your functional heads by giving them the responsibility of getting them to identify what are the investment requirements and to what extent should each unit contribute to it.
As you go through the process of evaluation and understanding of the competencies and resources available, you would be able to identify where (in your business units) you need to push in resources in order to support the existing competencies. This would lead to the ability to deliver substantially in market and thereby building image and stakeholder loyalty.
- Ditch Your Strategy, Keep Your Vision (inc.com)