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If you know
a company — customer, supplier, friend, or your
own — that could benefit
from improved operations,
let us know.
Your best interest is our best interest.
The
Finish Strong® monthly e-newsletter is for
business leaders who recognize Operations as a
strategic function that creates competitive advantage,
profitability and brand loyalty in the marketplace
The current economic situation is
front of mind for most of us. It's safe to assume
that it is important to all the stakeholders of
your company. Leverage this crisis to strengthen
relationships, organizational capabilities, and
market position.
Employees: Provide
information on the federal mortgage loan modification
process; provide an unbiased credit counseling
seminar, be flexible if they've needed to take
a second job. Keep them as informed about your
business outlook as you can. Don't get so involved
in your own challenges that you overlook the very
real concerns of your employees. Show that you
care about them too. You need their focus and
cooperation.
Customers: Evaluate
the future of the markets you serve. Based on
that, meet with customers (current and target)
to discuss the business relationship. This is
a great opportunity to develop the basis of a
real partnership that can help you grow profitably
together. Know their financial condition -- help
where you can with extended terms and pricing
but don't get caught financing a bankruptcy in
progress. Work with them to share lower margins
on work you can obtain together rather than both
of you lose volume and opportunity because you
didn't collaborate. Find out what they need from
you to get more profitable business themselves.
Help them understand how to reduce their costs
with you.
Suppliers: See
"customers" above. Understand where
risk exists, and how you can manage it. Seek out
collaborative opportunities that can benefit multiple
organizations.
Management and Leadership: Don't define the future by what you see today.
Focus on a profitable and growing tomorrow despite
current uncertainty. The certainty you had last
summer was misplaced, and the turbulence you face
today will not last forever. Obviously survival
is key, but beyond that there is opportunity.
The decisions you make now can have ramifications
for years to come. Take this time as one to position
your organization to gain market share, new markets,
and profitability when the turnaround begins.
Whether it is 6 months from now, or 6 years, the
economy will begin to recover. The players will
be different, and the rules of the game changed.
Be ready, not reactive.
Community: Your
community needs you now more than ever. If you
can, encourage donation of "excess"
worker-days to the food bank or other community
causes. If it's unpaid time off for your employees,
give them an extra half-day vacation when your
sales have returned to "normal" levels.
Keep your building and grounds clean, continue
community activities, and develop your staff by
encouraging their volunteer activities with professional
organizations.
IF THEY
CAN, YOU CAN TOO
The Cuyahoga County (OH) justice
systems reports (Plain Dealer, February 22,
2009, pg B1):
"....streamlining the flow of cases through
the [indictment] system have been so successful
that the jail population is below capacity for
the first time in decades. A prisoner's average
stay in jail, which used to last weeks or months,
has dropped to three days....[the director of
corrections] estimates ... the county will save
as much as $8 million a year previously paid
to jails in other counties for prisoner board
and care."
None of us look to government
for how to run our businesses (at least I hope
that's true!), but if lethargic monoliths like
this are improving successfully, there's no
excuse for you not to.
There exists no perfect organization,
which means each and every one can improve.
FINISH STRONG®
The Starting Pistol
Helen Keller:
“The only thing worse than being blind
is having sight but no vision.”
Dr. Rollo May:
"Commitment is healthiest when it's not
without doubt but in spite of doubt.”
The Tape
Rebecca Morgan:
"...and these uncertain times
require both vision and commitment."
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