Monday, December 22, 2008

Your business

While i was sitting in the waiting room of my accountant, i picked up the June, 2008 issue of the HARVARD BUSINESS REVIEW. Not that i am a regular reader , but this great magazine always seems to have some real good tidbits. Mostly they relate to large companies, but can certainly be good information for any of us in business. I thought this article might be interesting and helpful. THE SECRETS TO SUCCESSFUL STRATEGY EXECUTION. You can check it out at www.hbr.org. Here are some points i reacted to...small or large companies tend to go straight to reorganizing, if they have problems and neglect the most powerful drivers of effectiveness--decision rights and proper information. Perhaps you too , like me, have an employee or employees that dont have a clear sense of their roles and responsibilities. Who is accountable, and for what..and have you made the connection for them between performance and reward. All my brilliant ideas mean nothing unless we are able to execute...get it done. Everyone must have a clear understanding of the decisions and actions for which they are responsible and get rewarded because of it. The article goes on to say; once you have the proper information, make the decision , execute it, and dont second-guess it. Early company success comes from employee satisfaction and that comes from knowing what you expect from them and what they can expect from you. Often , because some of us are really small companies , with one or maybe two employees, we tend not to make responsibility perfectly clear...this hurts the entire company. EXECUTE THE PLAN.

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