PERSONAL iINTERVIEW with Michael Marshall ‘The Business Doctor’
Mid Fall 2008 – part 2
I will keep this session short.
In the past you have mentioned the importance of organizations developing ‘Business Plans’, ‘Marketing Plans’ and even ‘Mission Statements”.
You have also mentioned the importance of ‘Competition Analysis’ and ‘Bench Marking” both national and international.
Don’t most business organizations have these already developed and please go into more details on these things.
To answer to your question about “don’t most companies or business organziations have these in place”;
generally speaking the larger business organizations and companies do, many of the medium size ones have some plans developed and not many of the small business organizations.
Having business plans, marketing plans and strategies in place does not assure any progress or success unless they are aggressively implemented and continually monitored.
Same goes for ‘Mission Statements’.
Business Plans, Marketing Plans, Marketing Strategies and Mission Statements are all important to help an organization to figure out:
1. who are they
2. what are they
3. where do they want to go
4. how are they going to get there
These plans, strategies and mission statements are their guides to accomplish these things.
Without such guides, it is like a ship without a rudder going in circles never getting to its destination.
It is well-known that plans and strategies mostly fail not from the plans themselvs but from not being implemented aggressively.
Plans, strategies and mission statements unfortunately are often for image sakes only and not being implemented.
This happens quite often in all size companies and business organizations.
When I speak or advise with business organizations on their plans, strategies and mission statements;
if they do have them established, I automatically ask them to tell me per department or per function, what progress, advancements or successes in the last 30 to 90 days have they had to show that they are implementing the plans and mission statements.
If every department or function can give examples of progress suporting and achieving the plans, strategies and mission statements; then the orgnaization is serious about its business growth and success.
Answers to this simple question are usually mixed but generally speaking, often the answers are weak at best.
All talk and no show, so to say.
How does competitive anlysis and bench marking both national and global fit into all of this?
A business organization needs to have a clear understanding of their competition worldwide in great detail and be able to measure or compare themselves to each detail.
This is to set some bench markings on the things they are behind on and need to improve and those things that they are better at and need to keep ahead with.
These things directly affect everything in the business plans, marketing plans, strategies and mission statements.
It really is this simple.
I did not realize that often, business organizations that do have business and marketing plans and mission statements were not implementing them.
I do like the simple question you use about ‘what things in the 30 to 90 days occuring can illustate progressively implementing business and marketing plans and the mission statement’ and then have it per department or function.
I bet that makes some people stutter or get real quiet.
I highly recommend that at monthly meetings that this question be asked and answered by every department and function.
I also suggest that all progress or lack of progress be montiored and measured by both the CEO and Director of Human Resources.
This approach seems to be effective.
All very interesting.
Many times you have mentioned the importance of ‘Creativity’, ‘Out of The Box Thinking’ and ‘Being Boldly Innovative’.
You have gone on to mention how often this is lacking in many business orgnaizations and individuals may not be as skilled in this area as they think.
Can you add some additional information to how ‘Creativity’, ‘Out of the Box Thinking’ and ‘Innovation” affects business development?
I have a passion for business development and marketing but from a higher level than where most may view it or attempt it.
In today’s competitive fast paced global business world, ‘differentiation’ has become the critical success factor.
Product and Service Performance
Fast and On-time Delivery
Good Customer Service
These traditional things are no longer major differentiators since they are all pre-requisites for just staying in business in today’s business world.
‘Out of The Box Thinking’
‘Bold Innovations of All Types’
These are the new key differentiators being utilized to;
*Develop new products and new services
*Uncover and develop customers’ new needs
*Develop new markets
*Develop new customers
*Become an important and integral part of customers
Those with such progressive efforts and skills will obsolete most of their competition and may eventually force them out of business; “you snooze, you loose”.
These skills, expertise and progressive attitudes are not common, yet.
They are in high demand with those senior executives and business organizations that have a clear understanding of this new business reality and motivated to grow and lead their industry and market.
It is important that all departments and functions in a business organization have these skills and attitudes plus routinely exemplify this with progress and deeds.
As I mentioned so many times, ‘Creativity’, ‘Out of The Box Thinking, ‘Bold Innovation’ are skills that must be trained and then surrounded with progressive leadership attitudes and support.
If these were skills that could easily be acquired some other way, everyone would already have them and be actively doing them.
As always, you have shared some very interesting and insightful information.
Well, I promissed to keep this short so I will end my questions here.
Thanks for the information.
Thanks for the information.