Good business management equals good business. Period. With consistency, professionalism, proper planning of strategies, and alignments with operations, you can run a successful business.The challenge is to balance effectiveness and efficiency when determining how to get things accomplished, and making the decision as to when it is appropriate to “do things right” or “do the right thing”.
Effectiveness is more about goal setting, and efficiency is more about the process of attaining the goal.
If the goal is to go to Lake Taupo, it is useless if you arrive at Lake Wanaka, not matter how efficiently you have prepared for the trip. All efforts are futile.
Efficiency alone will put your company on the fast track to bankruptcy
An efficient business will “do things right” and focus on HOW and WHEN” it can accomplish tasks with a minimum of time and resources. An efficient business aims to achieve the least waste in what it does. Nothing wrong with that, but this not enough and often not effective.
Effectiveness alone “may” allow your company to survive
An effective business “does the right thing”, spends a lot of time deciding WHY and WHAT it should do, and will never “rearrange the deck chairs on the Titanic,” no matter how quickly and efficiently they can do it. However the company will not reach its maximum potential if it is inefficient.
Effectiveness and efficiency together will almost guarantee success
The efficient company is taking the fast track to wherever it is going, be that a good or bad direction. The effective company is at least going in the right direction, even if it is not getting there very fast. The company that can do both will grow and take business away from companies that only do one or the other.
How marketSMARTS can improve management effectiveness
- balance effectiveness with efficiency . . . bridge the gap between strategic direction and tactical operations with built in measurement criteria.
- help you focus on the end and not just the means . . . it’s easier to look at how well you are accomplishing a task than to determine if that task really helps you reach your goal. The result can be disaster.
- provide “Virtual General Management support” . . . many CEO’s are either entrepreneurial visionaries or product specialists and lack the admin related skills required for managing staff, admin or process. Let us do this for you.
- recommend resources, systems or process . . . we have access to software, people and admin resources through partners and alliances on a national basis.
- advice on the “best fit” management style . . . understanding the difference between leadership and management, the make-up of your team and getting the best out of them.
- review your business plans across 3 levels of management
- senior level . . . strategic leadership and direction
- mid level . . . tactical interpretation of strategy into day to day management
- low level and other staff . . . day to day management is effective in achieving goals and not just following policy or meeting paperwork goals. Every employee should know what the company is doing and why, and how his or her work helps reach those goals.
To get you on the road to effectiveness we can provide . . .
1. Management Checklist . . . asks the question “Are you doing it” and identifies gaps
2. Management Health Check . . . asks the questions “are you doing it, should you do it and how important is it – report includes a summary of strengths and weaknesses.
3. Management Review . . . asks the questions “are you doing it, should you do it, how important is it, and how well have you done it – report includes a summary of strengths and weaknesses, a scorecard rating, graphs and a priority action list.
4. Virtual General Manager (VGM). . . ideal if you need an expert to provide general management input and direction, “Virtual Manage” your business and oversee your admin, process and resources.