Strategic Management-Are you Winning?
May 17, 2012 Leave a comment
Strategic Management-Are you Winning?.
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Strategic Management-Are you Winning?
May 17, 2012 Leave a comment
As a business consultant and business owner, I constantly review our clients respective positions in their industry as well as my company. There are three (3) questions that I review on a constant basis;
1. Does the strategy fit the company’s current and near future situation?
2. Is the company efforts and strategy yield competitive advantage?
3. Is the strategy yielding improve and or good financial returns?
Strategy Fit
A company must understand its respective strengths and weaknesses. The company must build its strategy on its strengths. Many times the Owners/Executives do not understand its respective strengths or have not done a thorough and recent Quality Management Score Card (QMSC) to determine and understand its respective strengths and weaknesses. Also, the company must be able to understand the Opportunities and Trends in the market. This is why a QMSC is so important! However, many small to medium size companies tend to overlook this research, because they do not see the immediate return.
Competitive Advantage
Competitive advantage should be a long-term element, not just the immediate. A company should be investing in resources and assets to have this. This could be training, education, software updates, technology additions, and or having consultants to assist in this process. A true consultant is not an order taker. A consultant should act as a spy or scout for the organization. Many consultants get pressured my management to do the task and items wanted; they are limited to perform in the capacity to assist the organization in achieving competitive advantage as a consultant.
Financial Performance
Financial performance is more than how much revenue/sales that a company achieve! Further, many times with owners and management this is an aspect that is overlook, not reviewed, and finally not supported. Financial accounting and understanding the company Four (4) financial statements are not done on a monthly, quarterly and even yearly basis. The review and understanding of expenses, assets, and revenues as it relates to the organization; it is just something that is not a priority by management. Many executives and managements are very cheap towards the execution of this essential task.
For a free consultation or more information in regards to Strategic Management, please contact www.e2p2inc.com or call us at 678.379.3732.
A Science to Your Business!
ecb
The Fix and Growth Mindsets, Understand the challenge with yourself and others!
March 5, 2012 Leave a comment
Today in church, my pastor was discussing how negativity (evil spirit) can challenge you in ways beyond yourself. As long as you have pure intentions and focus the pastor suggested that you should always fight for your goal and do not become defeated. However expect challenges when you are on course of doing great things. At times those challenges will come with people that you are weak and vulnerable to. This could be a parent, child, girlfriend/boyfriend, sibling, friend, coworker, and spouse and or ex-spouse.
The one common variable with the evil spirits is that we must consider the people around us. The challenge is that we will never understand the purpose or reason of any of the individual in our lives. It is impossible to substantiate the thoughts of individuals. We can only go by what people say and hopefully document their comments with behaviors. However this study takes time and review, and many of us do not take the time to understand truly our influences in our life.
However, we can gain better understanding of these people that bring these challenges in our lives. Gullickson (2009) discusses the differences of Fix Mindset (FM) and Growth Mindsets (GM).
FM is the belief that we all are born with traits of intelligence, personality and moral character. People thrive for Success over Growth. Under the FM, if you do not achieve desire results, it can result in negative thinking. GM is the belief that we can develop our abilities through dedication and effort. It is more of a learning mode, the person exercises the ability to adjust and adapt.
When a person is going through change or challenge; it is important to understand what mindset you have. Also you must consider the influencers and their respective mindset. Understand the concepts of FM and or GM can assist us in minimizing negativity or evil spirits in our lives.
Reference:
Gullickson, B. (2009). Too Smart for Your Own Good. Strategic Finance, 90(10), 8-10.
ecb
IPO- A new approach to crisis, problem, change, and project management.
October 3, 2011 Leave a comment
Input, Process, Output (IPO) is an approach towards change management that companies and individuals can used to improve their respective situation as well and understand it. I suggest this process for all of my partners, students, and clients as an approach towards (1) Understanding the issue, (2) Prioritizing elements of the issue, (3) Fully understanding the process of improving the Outcome (O) or desire end result. The first thing that I have to fully explain and to make sure everyone acknowledge that we are Human, so this process embraces the human spirit and it requires the understanding of Emotional Intelligence and ability to manage and lead Highly Effective Teams. Many people within a company forget this as well as individuals. I find with many of my clients that their problems are very simple to correct or improve. The problems that becomes apparent is the lack of understanding of their organization and issue, and unrealistic approaches and expectation of correction.
Input (I)- Understand that before we can change/improve the Output (O) or even create a Process (P) we must understand the I. The I is human; it is and is not limited to the current environment, skill sets, resources, weaknesses, leadership/management abilities or lack of, of the people or yourself, depending of the issue you are trying to correct and understand (SWOTT Analysis). By embracing the element of I, we can start the process of understanding the issue. Many times by just approaching the issue from an understanding stand points, improvement starts to happen.
Process (P)- The P is created by humans, so we must understand that everything can be improved based on the P we implement. However, the P is dependent upon the full understanding of the I and improving the I, to get the desire O. Many times people and companies try to create P focus mainly on the O, instead focusing on the I.
Output (O)- This will be hard for many to understand, however the O is never perfect! Even with the best process, company, money. consultant, people, product, service, and etc. The O is a product of the following; The I which is Human, the P which is created and managed by Human, thus the O will alway be imperfect.
By going through the steps of IPO, will ultimately improve the people or company in many respects. However, the true element of the IPO process is understanding Humans and understand the variables that effects Human behavior and performance.
For more information, please email info@e2p2inc.com or visit our website www.e2p2inc.com.
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A science to your business
Discipline,Detail, Character, and Compliance (D2C2)
August 17, 2011 Leave a comment
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www.e2p2inc.com is now on Empire Avenue. More to come!
The focus now is D2C2- Discipline Detail, Character, and Compliance!
True Leadership, the Journey
June 8, 2011 Leave a comment
Within the the last 8 months I have been challenged in this subject matter! Being a business owner, professor, researcher, student, father, friend to others that I like and those that I do not, family, boyfriend/intimate partner, and a community leader.
Here are the few things that are essential to being a leader;
Emotional Intelligence
Knowing when to say no and yes
Objectivity
One must be able to continue seeking knowledge
Time Management
Goal oriented
Financial responsibility
Do the right thing
Slow down and understand
Trust and followup
Constantly seeking for betterment in every endeavor that participate and seeking other endeavor to improve
Education
Faith and Spirituality
Caring and Patience
There is more! There is not a true definition of leadership! I have found myself researching to better understand each aspect listed and more. Leadership is an inner and fine/high rigor calling within yourself! It is a constant journey! Meaning, you can not stop! Here are a few things that I have done to stay on this journey;
Pray and meditation
Exercise
Eating healthy and plenty
I make decisions, but slow in making them
Have fun
Look the best you can be
Continue to be positive especially in tough situations
Communication
Seek better understanding and new technology
Systems and Processes to improve yourself and your business
Mentors and Mentees (You need both)
Constantly be honest in yourself of what you can, will, and can not do
If you need an objective partner, please review my website www.e2p2inc.com and or please contact me.
Eric C. Belmar Jr.
CEO
Doctoral Learner, MBA/BS
www.e2p2inc.con
678.379.3732
