Effective leaders proactively address both tactical and strategic needs of their business. To help my executive clients, I challenge them to define clearly their imperatives.
As I described in two previous keys, to create and sustain forward momentum, leaders must work concurrently on three critical aspects of their business: the present, the future, and the business capabilities and resources. These are the three imperatives for business success.
In this key we will reflect on the third of these three imperatives for success and identify the questions you must address about your organization's resources and capabilities to build your business and leverage your opportunities.
The 3 Imperatives for Business Success: Resources and Capabilities
How do you address these three imperatives - the challenge of today, the challenge of tomorrow, and the capabilities and resources you need to meet both?
You easily can get blindsided and fall into one of the "traps" that derail you or delay your progress. Managing all three imperatives simultaneously is the leadership imperative!
Here are a few key points about the third imperative: organizational resources and capabilities.
Imperative of resources and capabilities
- What is it?
In this aspect of your business, you focus on capacity-building. On its own, an organization has no meaning and strategy. Its meaning and strategy are created by its people, by their capabilities and capacities. Specifically, you work on your people strategy and on building the skills and competencies necessary to meet current and future requirements.
- What must I do?
Engage in an on-going evaluation of needs, opportunities, and risks. Determine what competencies and capabilities you must develop and/or bring into the organization. Invest your resources thoughtfully. To build future readiness, focus on the renewal and development of your workforce.
- What is the potential trap?
Gullible leaders may treat capacity-building as an afterthought, something that will take care of itself. It will not.
- Reflection questions:
1. What capabilities must we build to enable the future we are developing?
2. What new competencies must I develop in my team?
3. How will we build best-in-class influencing and consultative capabilities?
4. How will we cultivate our teams' financial acumen?
5. What new competencies must I develop in myself?
6. What practices must we institutionalize throughout the organization to create a differentiated experience for our customers?
7. What resources must I create and/or free up?
After answering the above reflection questions for the third imperative, organizational resources and capabilities, as well as the previous questions for the first imperative, the present, and the second imperative, the future, you will have a complete blueprint for greater success in your organization. Take this final self-assessment step today.
Call us to discuss how we can help you meet your imperatives and create the future of your organization.
© Aviv Shahar