Business Head Transformation = Business Transformation (especially) in Small,Emerging Organization?
- April 28, 2019
- Posted by: Ganesh Babu
- Categories: Business Head, Business Transformation, CEO, Personal development
Several factors contribute to the success of the business regarding profitability and growth. Those factors could be a type of products or services, talented employees, competition, positioning, market, economic environment and so on. Those are all common factors prevailing for any business in which some organizations are doing successfully, and others are struggling. The crucial differentiating factor between a progressive organization and stagnant or struggling organization is a business head especially in small, emerging (SME’s) organizations. The business head could be the founder or the CEO or managing director of the firm. The business head’s beliefs, quality of thinking, business practices and leadership style determines the organizational success amidst the common factors as listed.
As I had a privilege to work with more than 100 small and medium-size business heads on different occasions, I realized one profound truth. That is, irrespective of industry, business nature, product, manufacturing process, marketing environment and competition, the growth of the organization primarily depends on the business head ‘s thinking process or mindset, leadership style, his /her business practices or daily management processes and how he/she is directing or guiding his team.
Predominately his/ her belief or how he/she looks at the business determines their leadership style, enables to choose the right business practices or processes and ultimately reflects on profitability and growth.
As I observed, Most of the business heads look at their business with either one of the two beliefs like survival orientation or growth orientation.
In survival orientation, he looks at his business and customers as a mean to make profits; he tends to make a profit somehow, with little or no emphasis on adhering to process, ethics, considering the interest of all stakeholders, future growth aspects and long-term sustainability of the business. Those organizations struggle with profitability issues, low employee engagements, frequent customer’s turnout.
In growth orientation, he looks at his business and customers as a purpose to enhance the value of all stakeholders, including his motivation. This mindset will improve his thought process towards long-term sustainable business decisions. When he has the purpose of the business, his approach and thought process would be on building a solid foundation for the procedure, systems, technology and talent management, in turn, his visionary approach would be long-term oriented even though sometimes he loses in the short term. His growth mindset enables him to choose a set of business processes or practices on a day-to-day basis, which promotes positive organizational culture, business results, and long-term growth. His enhanced mindset enables him to create sustainable wealth creation from his business to meet all stakeholder’s expectation.
In our business transformation engagements, we have witnessed that whenever the CEO or business head understands the desirable behavior gap or the business process gap and then works full heartedly along with us, the business results used to be extraordinary.
In my opinion, business success factors like technology, effective asset utilization, expanding into new markets, managing the competition, talent management and fulfilling the customers’ requirements are relatively easy tasks if the CEO or business head tune up his mindset and thought process towards growth orientation.
The real transformation has to happen at a business head level from a mere survival mindset to a growth mindset. Business transformation starts from an individual and that too from the head of the organization. If that change happens at a business head level, I firmly believe that business is also equally transformed.