What are businesses doing to regain commercial edge?
It starts with a positive mindset and having a healthy relationship with adversity. Seeing adversity as an opportunity to learn, grow and improve.
Culture and strategy are integrated. Culture is promoting the behaviours that the business requires to succeed, and it is not culture for culture’s sake. Having a culture of continuous improvement through feedback, a framework for courageous conversations.
Focus. Being clear on the top 3 things that matter most and staying focused on them. This means not allowing the strategy to become 100 priorities or a constant wave of changing priorities.
What are the common mistakes of businesses not holding their commercial edge?
Culture is not serving the business and it has become culture for culture’s sake. In pursuit of keeping people ‘happy’ accountability has slipped.
Businesses are not consolidating growth and has outgrown the platform (systems/processes, organisational structure and people capability). The platform is no longer suitable for where the business is heading and nothing is being done about it due to the relentless pursuit of growth.
Businesses are not clear on what sets them apart and they are not standing for something. This is the recipe for becoming a commodity and becoming 'lost in the noise'.
What are the top two points to take away?
Ensuring your strategy/plan is clear on the key priorities and ensuring your culture is promoting the necessary behaviours to support the strategy.
Recruiting the right people; aligned with the culture, who demonstrate the right behaviours, who have the appropriate skills and knowledge to develop their network and reputation in alignment with the company’s.
