A holistic business discipline with an end-to-end approach versus “top-down” management establishes a nimble, proactive company that adjusts during even the most critical of circumstances. There are eight attributes, however, that must be present for a healthy holistic company to thrive:
Be obsessed with offering what the customer wants and adapt to new needs. Let’s take a real-world example:
The revenue of an office furniture manufacturer plummets by 70% during the first weeks of COVID lock-down as the world swiftly adapts to working from home. But how did the manufacturer adapt? We used a 14-day discipline, meeting 3 times a day, during which all department members shed their titles, and united to call as many customers, suppliers, and extended networks as possible to find an opportunity.
Outcome: Within just 2 months, the company had modified their product from office furniture for retailers (B2B) to home-office furniture (B2C), created a new marketing campaign, and leveraged their networks to identify and tap into an innovative assembling capacity to meet increased demand — all without letting go of a single employee!
Mid-COVID, within just 2 months, a facility management company with 2000 employees, moves into the home refurbishment market (from B2B to B2C) and what quickly follows is a bold and united decision to fire 300 technicians and rehire them as freelancers. Why? By employing our customer obsessed approach, the company spoke directly with as many homeowners as they could and discovered what customers want: technicians to come to their homes either before or after their working hours. Creating an app, allowing homeowners to access on-call freelance technicians (much like uber drivers), the company was able to meet the increased demand for home renovations, in particular terraces, while at the same time mitigating increased labour costs.
Our co-Win-real world example above brilliantly illustrates the second and third attributes of a healthy holistic company:
Although a large corporation or an SME may have multiple departments, they are ultimately on the same team. Sounds obvious, right? Yet, as we discussed in a previous post, what occurs is often the contrary with departments competing with each other, working in direct conflict with one another’s KPIs. It’s imperative that managers have a cohesive framework: one purpose that every department contributes to and supports.
A company that is slow to make bold decisions or makes decisions in isolation, rather than with the input of all involved, can not only alienate their customers, suppliers, and other stakeholders, but also miss out on critical life-lines.
In a growing, thriving organization, the needle moves every day. Yet, reports are often given weekly or even monthly. It’s pertinent that essential information is shared quickly with all involved. Decisions that are made without critical information, can negatively affect the company. Implement a way of sharing essential information daily.
What’s PDCA, you ask? It starts with planning. After a plan is in place, then and only then, can you do. Once the task is done, you check for results. Then act by either moving forward as planned, or realizing the plan wasn’t effective and changing your course of action. This is how an effective leader proactively manages risk.
The smartest minds have said, “Learning is a lifelong process.” Therefore, encouraging learning, accepting mistakes during the learning curve, and supporting each member of the team creates a cohesive culture that enhances the end-to-end performance you desire within the organization.
Enable a culture that allows each person to be heard and understood, ensuring they feel like a valuable member of the team.
Improve quality and decrease costs. Ultimately to stay in business, it’s important to turn a profit; but, you don’t want to compromise quality in the process.
To move from COVID to Co-Win, it is essential your organization is able to build leaders, create a cohesive culture, and pivot to adjust to the changes in the market. Whether you are a consumer-driven product-based business or a B2B, service-based business, the market has changed and will continue to change.
If you plan to Co-Win, take the first step of acquiring feedback from your stakeholders. How do you do that?
Simply follow these 5 steps:
These five simple tips can help your organization stay relevant and adjust to market changes in a timely way. Take the first step to creating a Co-Win culture for your organization.