The COVID 19 pandemic which has affected the entire world this year has been a completely new experience for everyone. We live in an age where almost all fields have reached a high level of technological advancement including medicine. Despite this it is strange to see that recovery from the pandemic has been a very slow process and is still full of uncertainties. Any economic crisis brings huge challenges for businesses irrespective of their size, whether they are small, medium or large. The most crucial thought in the minds of every business owner in such trying times is “Survival”. A
Author: TP Anand
The Waiting Game
The waiting game is one where people wait to see what others do or wait for opportunities before taking any action. I see people adopting the waiting game for everything and anything. Is it smart to play the waiting game in every situation? The waiting game is interesting and fruitful only when deployed under the right circumstances. Often, it is possible that the bad habit of procrastination is being hidden under the guise of the waiting game. As a business strategist, I do advise my clients to play the waiting game but only in very select scenarios. In most cases,
GUIDED MASTERY
The whole world is facing a pandemic and the extent to which this would cause damage is a mystery. This phase will go away soon and things will start to resume leading to normalcy. When we get back to normalcy what became an only option during lockdown could well become the norm of the day. More and more people may work from Home and more and more people may go back to their native towns and not stay in Metropolitan Cities. “Survival of the fittest” will become the norm forever. To stay as the fittest organisation you need to stay
Continuous improvement
Elephants and ants have been living the same way for the last several centuries. We human beings have not lived the same way for even a few decades. We have been constantly looking to improve on everything and hence the way of life has undergone changes. Change is the only thing that is constant in our lives. With the advancement of technology, change itself is frequently changing through continuous improvement. For instance, cars, trains and buses have all been constantly improved over the years. Aircraft and ships have also undergone changes and improvements over the years. The house in which
A Common habit among old companies
Before we begin, let me ask you a question that recently crossed my mind, “How old is your Company? How long do Companies live in this world?” I read that most companies live from anywhere between 20 to 40 years. Another interesting fact I came across was that a third of the Fortune 500 companies of 1970 were gone by 1983 as they were either merged with or acquired by some other company and the rest simply went bankrupt. This led me to another question which is, “Whilst human beings can live for about 80 years why is it that
Achieving Business Excellence
Achieving Business Excellence – through the EFQM model What do big businesses do right that small businesses don’t? Are the knowledge and know-how used by big businesses available to small businesses? How can small and medium businesses achieve excellence that their bigger counterparts achieve? First, let’s answer the question, what is business excellence? Business Excellence is described as outstanding practices in managing the organization and achieving results, all based on a set of fundamental concepts or values. These practices have evolved into models for how a world class organisation should operate. EFQM is one such model developed for achieving business