What successful organisations need to do in Q4 of 2020
Thoughts from: John Bridges, Robert Comben, Lindsay Murdoch, and Michael Ware
Now that lockdown has ended, and business leaders have had their summer holiday, some interesting and tough decisions need to be made by boards of UK organisations based on the following questions.
We pose them here for consideration as we believe that many organisations really do need to put a sharp focus on the future.
What is overall market demand like, compared with what it was in February?
What is the likely sales turnover this year going to be? And the expected profit?
What size of organisation can we now afford? What is the required staff skills mix?
What are the demands of our customers and have they changed?
What is our cash flow position? Are we at critical levels, and what rate are we burning cash?
How does our mission, vision and operating model need to change?
How has our competitive position changed? What do we now need to compete and grow?
How innovative and change-oriented are we as an organisation?
How resilient are we as an organisation?
What is the size of the change needed in all our functions? Technology, finance, sales, marketing, HR, production, operations, procurement?
What are the main ways in which the organisation needs to be changed or transformed, and how long will that take? What investment is needed and what ROI expected?
How engaged and supportive are our employees?
Are we paying enough attention to employee well-being?
Where do we need our staff to be located and what is the face to face vs virtual working balance?
Can we manage the required transformation ourselves, or should we call in experts to shape and lead the transformation, and deliver the business benefits?
Generally, the organisations that are clear about their answers to the above key questions, can debate and agree the way ahead, and take action promptly, will enjoy a first mover advantage in their market, taking market share from their slower more laggard competitors.
By April 2021, it is true that some organisations will be thriving, while many others will be struggling, taken over or wound up.
Talk to us at intaconsult and we can discuss how we can help you to radically improve your organisation, whilst there is still time. Call Lindsay Murdoch on 07789 990 330.