We call these...
Organizational culture is the very core of a company. It defines the environment in which employees work and what the customers experience. Company culture is not just one thing but includes a variety of components including the work environment, the company's mission, values, ethics, goals and how it communicates internally and externally. Culture is the foundation a company is built upon and often times, if there are a business challenges, they can be traced back to problems with the organizational culture.
A successful company is one built by teamwork. An idea may have been the spark that started a company but the employees and their collective effort determine whether a company will achieve success. Hiring the right people is key to any successful organization but how do you know who's right for the job? Skills and experience are factors but fit is critical. Employees need to both assimilate into the culture and enhance it. Once you have great employees, growth, recognition, and training are important in retaining your best people.
Great products don't always mean great success. To be successful in a highly competitive market, products need to be measured for product-market fit. To see if there's both a market for the product and a way to bring the product to market in a profitable way. This requires an understanding of the competitive landscape as well as the costs involved in producing and marketing the product. Many good companies with great products fail because they failed to understand how their product meets a need or solves a problem better than the competition.
Good people and great products require processes that are well understood and followed. This can reduce complexity and speed service delivery. Clear communication is essential to building processes that streamline operations and allow for appropriate feedback. Whether it is front of the house to the back of the house, marketing to sales or sales to support, it's important that processes are defined, implemented, followed and refined to assure on-going business success. The most successful businesses are the ones that understand operations and put processes in place that increase transparency and ultimately, improve the customer experience.
Businesses exist to make money but often times, profit can be elusive. Our goal is to make profit a certainty. With the right people, products and processes in place and having an underlying organizational culture focused on creating a great place to work, profit will be the natural by-product. All stakeholders benefit when a company runs as a profitable enterprise. Establishing metrics to measure performance, spotting trends and catching problems before they derail success, is necessary to build the transparency required for managers to take the required actions to keep a business profitable.
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