Planning

Using Business Goal Management to Ensure Team Performance

An organization’s performance is governed by the performance of the people and how well they communicate with each other within internal teams. It is more effective in smaller organizations and contradictorily, as the team size increases, its ability to effectively communicate becomes much difficult. However, the organizational leaders’ ability to define the goals helps to cut through this complexity of team structure.

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Is Your Business Ready for the Next Downturn? | Extraordinary Business

A successful business often tends to add costs indiscriminately. Business owners get blinded by the fact that their company is rapidly growing its revenues while maintaining a healthy bottom line. This lax attitude percolates down to employees who start incurring expenditure that does not provide any real benefit to the organization.

In many instances, company staff do not even provide customers with a basic level of service. They are so caught up with their daily activities and with managing increasing revenues that customer complaints and feedback get ignored.
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New Steps for New Year: Prioritizing Steps for Growth in 2016 | Extraordinary Business

2016 Calendar Target Showing Year Planner And Schedule
Over the past few years, you have committed a great deal of time and money to developing your small business. By reinvesting your business’s profits back into the company and keeping a close eye on the often unstable US economy, you have made strides in creating a profitable enterprise.
However, as a seasoned entrepreneur you are also aware that the only way to persevere is to continue to grow. The question is not whether you will grow; it is how to grow without overextending your investments or making other costly mistakes. Having a clear understanding of the landscape in which you intend to increase your business will clear the path for successful growth in 2016.
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New Steps for New Year: Prioritizing Steps for Growth in 2016 | Extraordinary Business

2016 Calendar Target Showing Year Planner And Schedule

Over the past few years, you have committed a great deal of time and money to developing your small business. By reinvesting your business’s profits back into the company and keeping a close eye on the often unstable US economy, you have made strides in creating a profitable enterprise.

However, as a seasoned entrepreneur you are also aware that the only way to persevere is to continue to grow. The question is not whether you will grow; it is how to grow without overextending your investments or making other costly mistakes. Having a clear understanding of the landscape in which you intend to increase your business will clear the path for successful growth in 2016.

 [···]

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When Things go Wrong | Extraordinary Business

How to plan for and manage unexpected challenges you face in business

image
 
You have probably been to a restaurant when it is extremely business, with people waiting out the door, slow service and very busy servers. You’ve probably been stuck in traffic at rush hour or when a big event is coming to town. You may have waited in long lines for a movie or for a ride at an amusement park or some of their place where you probably thought or said to yourself that they probably need more people or could use more space.
While you might understand or be patient if it happens once or twice, you will probably find alternatives – be it alternative locations if they are available, or available times if the issue seems to be a timing issue. In either case, you are thinking about the cost to switch or select a different option. If it is a restaurant, it may be fairly easy to find another restaurant or movie theatre, making the switching cost low. If it is an amusement park or a road, the switching cost might be higher – you may have to travel a great distance (cost) to avoid the lines or to get on open roads.
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When Things go Wrong | Extraordinary Business

How to plan for and manage unexpected challenges you face in business

image

 

You have probably been to a restaurant when it is extremely business, with people waiting out the door, slow service and very busy servers. You’ve probably been stuck in traffic at rush hour or when a big event is coming to town. You may have waited in long lines for a movie or for a ride at an amusement park or some of their place where you probably thought or said to yourself that they probably need more people or could use more space.

While you might understand or be patient if it happens once or twice, you will probably find alternatives – be it alternative locations if they are available, or available times if the issue seems to be a timing issue. In either case, you are thinking about the cost to switch or select a different option. If it is a restaurant, it may be fairly easy to find another restaurant or movie theatre, making the switching cost low. If it is an amusement park or a road, the switching cost might be higher – you may have to travel a great distance (cost) to avoid the lines or to get on open roads.

 [···]

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Your “Tipping Point” Will Make or Break Your Company | Extraordinary Business

What is a tipping point and how does it apply to business growth?

tipping point

 

Malcolm Gladwell, in his book, “The Tipping Point: How Little Things Can Make a Big Difference,” describes the tipping point  as “the moment of critical mass, the threshold, the boiling point.” Gladwell describes examples of this such as, “Ideas and products and messages and behaviors spread like viruses do.”

In the same way, business growth stages can occur, wherein a business reaches a point at which it moves from one stage to the next – over the tipping point. As he goes on to describe, going over a tipping point requires extra effort than normal operating procedures. If you think about it like reaching boiling point, at 211 degrees, water is starting to show some activity, while at 212 – one extra degree, water goes from still to boiling.

For example, your company might experience a tipping point when you hire additional staff to take on the work you expect to have at some point in the future. It is difficult because the amount of resources exceeds the amount of income or work while we push to increase productivity. Once over the “Tipping Point”, we will be back to a normal situation where the amount of work is equal to the number of resources and paying them properly. [···]

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Your "Tipping Point" Will Make or Break Your Company | Extraordinary Business

What is a tipping point and how does it apply to business growth?

tipping point
 
Malcolm Gladwell, in his book, “The Tipping Point: How Little Things Can Make a Big Difference,” describes the tipping point  as “the moment of critical mass, the threshold, the boiling point.” Gladwell describes examples of this such as, “Ideas and products and messages and behaviors spread like viruses do.”
In the same way, business growth stages can occur, wherein a business reaches a point at which it moves from one stage to the next – over the tipping point. As he goes on to describe, going over a tipping point requires extra effort than normal operating procedures. If you think about it like reaching boiling point, at 211 degrees, water is starting to show some activity, while at 212 – one extra degree, water goes from still to boiling.
For example, your company might experience a tipping point when you hire additional staff to take on the work you expect to have at some point in the future. It is difficult because the amount of resources exceeds the amount of income or work while we push to increase productivity. Once over the “Tipping Point”, we will be back to a normal situation where the amount of work is equal to the number of resources and paying them properly. [···]

Read More