90% of companies miss their goals:
But how do the other 10% succeed?
One of the key aspects of success is simple.
Research and implement the key drivers of success.
There is a great framework that can be useful here:
The Pyramid of Organizational Development.
It was developed by Dr. Eric Flamholtz:
Based on factors that work empirically.
The pyramid identifies 6 key factors crucial for financial performance and long term success:
1. Markets
Identifying and defining a viable market to serve (i.e., target customers).
2. Products and Services
Developing products and/or services suited to the chosen market.
3. Resources Management
Acquiring or developing necessary resources for current and future operations.
This includes people, equipment, facilities, and finances.
4. Operational Systems
Establishing operational systems for daily functions.
Involves accounting, production, shipping, marketing or HR.
5. Management Systems
Creating management systems for long-term organizational function.
Covers strategic planning, organizational structure, management/leadership development, and performance management.
6. Corporate Culture
Cultivating and managing the organization’s culture, encompassing its values, beliefs, and norms.
These factors are based on a foundation that consists of the organization’s business concept, strategic mission, and overall strategy.
To maximize organizational effectiveness and success:
Focus on all six key areas.
P.S. Is your organization well-aligned for success?
♻️ Share with others for business success!
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