There are several stories populating the annals of business history of enterprises that once dominated their industries but then later jumped to their decline. The reasons are often about staying too close to the existing customers, which is a myopic viewpoint on short-term financial performance and possess an inability to adopt themselves to business models for disruptive innovation. But this does not still explain with proper clarity that why the business leaders that once were able to steer these firms to success pinnacle were able to completely lose their touch.
There is a saying that goes with this scenario – after a certain acquired age we learn more from our failures than from our successes!
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Would you like to know the secret behind how to achieve organizational success? It is strong performance management, which is the processes you put in place to assess and rewards and the abilities for your workforce to meet and exceed goals.
The main idea is to improve morale, drive loyalty and increase the overall productivity in your employees through performance management is the key to a company’s ability for outperforming competition.
The best performance management systems are the ones that establish a true pay-for-performance culture, which in turn drives better employee engagement. The process for linking a company’s compensation plan to team or individual performance requires the following – setting, assessing, and rewarding achievable performance success and expectations. Continue reading –>
The job role of a white-collar title holding ‘leader’ may seem like an endless list of treacherous points in wordy bullets, but bullets they are in whichever form it is. However, the main priority for CEOs, CFOs and staff managers alike is ultimately one thing – it is to lead with conviction.
But the burning question is – How?
Every c-suite executive in a company has a goal which is to foster excellence. Every company houses an eclectic mix of personalities, temperaments, and skills. Many before you (the presently studying MBA student buried under stacks of uninspiring MBA assignments), have walked the long roads to find the key to effective management. But the key to this unassuming mystery is to simply do one thing, inspire. Continue reading –>