The Four Magic Business Bullets: Strategy, Intellectual Capital, Innovation, Implementation
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The Four Magic Business Bullets: Strategy, Intellectual Capital, Innovation, Implementation
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In the 21st Century, intellectual capital, information capital, and human capital will require strategic thinking and planning as never before. These areas will determine the success of many if not most organizations as we move from the “information age” to the “knowledge age.” Alignment of these areas must be put in place and used to fulfill organizational objectives. For the greatest organizational success, intellectual, information, and human talent capital should be directly linked with the traditional measures of strategic success, such as revenues, gross margins, profitability, return on investment and market share. As an organization you should be asking the question are we putting in place strategies that are aligned at all levels throughout the organization.
Solid leadership combined with intellectual capital and great human talent allows a key strategy to emerge - innovation. Quoting Peter Drucker, “Business has only two basic functions: marketing and innovation. Marketing and innovation produce results. All the rest are costs.” Innovation is “the” basis of all competitive advantage and the means by which the organization anticipates and satisfies the customer’s needs.
Innovation is the way the organization uses knowledge and technologies to create wealth, beat the competition, and pursue growth. Growth is what it’s all about. Growth is the great elixir…both personally and in business. At all times an organization should be in the process of transforming itself through an innovative and evolving strategy, so it can more effectively position itself to occupy a new strategic space in its industry. Without enlightened leadership and an evolving strategy, organizations rarely stay innovative and achieve growth.
A final step with regard to strategy is implementation. When a new or radically different strategy is formulated, it most likely will involve structural changes to the organization along with policy and procedural changes. Change always will call upon leaders to handle the tangible as well as the intangible variables, including the motivation and commitment of people, possible restatement of values, the modeling and monitoring of behaviors, and the establishing and networking of relationships.
When a serious attempt is made to transform any organization, the return on investment in the building and linking of strategies to accomplish the mission and vision of the organization will be substantial. Strategic thinking and planning will allow the organization to both sustain itself and grow. Strategy is where the rubber meets the road. Great strategies begin with solid leadership!
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Page 2
In the 21st Century, intellectual capital, information capital, and human capital will require strategic thinking and planning as never before. These areas will determine the success of many if not most organizations as we move from the “information age” to the “knowledge age.” Alignment of these areas must be put in place and used to fulfill organizational objectives. For the greatest organizational success, intellectual, information, and human talent capital should be directly linked with the traditional measures of strategic success, such as revenues, gross margins, profitability, return on investment and market share. As an organization you should be asking the question are we putting in place strategies that are aligned at all levels throughout the organization.
Solid leadership combined with intellectual capital and great human talent allows a key strategy to emerge - innovation. Quoting Peter Drucker, “Business has only two basic functions: marketing and innovation. Marketing and innovation produce results. All the rest are costs.” Innovation is “the” basis of all competitive advantage and the means by which the organization anticipates and satisfies the customer’s needs.
Innovation is the way the organization uses knowledge and technologies to create wealth, beat the competition, and pursue growth. Growth is what it’s all about. Growth is the great elixir…both personally and in business. At all times an organization should be in the process of transforming itself through an innovative and evolving strategy, so it can more effectively position itself to occupy a new strategic space in its industry. Without enlightened leadership and an evolving strategy, organizations rarely stay innovative and achieve growth.
A final step with regard to strategy is implementation. When a new or radically different strategy is formulated, it most likely will involve structural changes to the organization along with policy and procedural changes. Change always will call upon leaders to handle the tangible as well as the intangible variables, including the motivation and commitment of people, possible restatement of values, the modeling and monitoring of behaviors, and the establishing and networking of relationships.
When a serious attempt is made to transform any organization, the return on investment in the building and linking of strategies to accomplish the mission and vision of the organization will be substantial. Strategic thinking and planning will allow the organization to both sustain itself and grow. Strategy is where the rubber meets the road. Great strategies begin with solid leadership!
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About Ingbretsen Consulting LLC: Coach and author Roger Ingbretsen is a certified executive coach and organizational developer providing organizational and career guidance to professionals, managers, supervisors and all individuals looking for "real world" career development information. His entrepreneurial approach will help you learn how to use your strengths, plan, lead and succeed in your career. To know more and claim dozens of Rogers free articles go to www.ingbretsen.com.
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