Achieving desired performance is always the interaction of individual capability and environment. Optimizing performance requires attention to both.
The Labor Efficiency Ratio measures the productivity of your labor force through time and can be used to optimize your economic engine for maximum profitability. However, most leaders are unfamiliar with this concept and instead pay more attention to total labor costs—which is a flawed measure because it does not account for how productive labor actually is at generating profits.
With changes happening at a rapid pace, leaders need to act fast and innovate to fuel future growth. But it’s not always easy to act quickly. There are many barriers to why leaders resist change. Read about the most common barriers and how to easily remedy them.
CEOs have the responsibility to drive results. But if organizational culture is not aligned with the business strategy it will thwart successful achievement of initiatives. To successfully implement strategy the first step is knowing what type of culture exists.
Sometimes it’s tempting to take your foot off the gas, take a breather, and coast for a while. But this is dangerous. Embrace change, innovate, and your organization will gain a coveted competitive edge.
Is sustainable competitive advantage dead? If so, who killed it? More importantly, how can business leaders adapt, and change their strategy playbook?
The longer and more stable the business environment, the more companies competing in the market look the same. For a company to grow it must get ahead of its competitors. They can achieve this by proactively changing the business environment to gain a competitive advantage.
We live in an era of disruption, and one thing is certain: the success or failure of your strategy hinges on what your competitors choose to do. Play a war game with your team to uncover blind spots, think like the competition, anticipate what they might do next, and plan your next moves to win in the market.
Do you sometimes feel like you are slogging knee-deep through a mud pit to get important initiatives implemented? No matter how slow the rest of your organization is to buy in to your ideas or get things done, here are five things you can do to speed things up and make transformational change happen.
What you and your employees are doing is building a business, not only for the sake of making a profit, but to achieve the higher goals you are all striving toward.