Tuesday, June 28, 2011

Doing More With Less

This was part of our conversation with a large global senior executive team just before the economy took a hard dive. It is even more true, today. We hope it will help someone out there, and look forward to your thoughts and ideas on the subject!

Accountability is the key to doing more with less. But to make doing more with less successful, you must have a team that can not only can multitask -- but has "bought in" to the new corporate culture of multi-tasking. Doing more with less does not mean a larger work load, it means a smarter work. Right now, its about survival. Employees that don't buy into this concept, should not be working with your company. It's that simple.

To implement accountability throughout the entire organization you must add transparency. Implement a concise Annual Operating Plan (AOP) to ensure all teams are driving toward the same goals -- and working only on projects outlined in the plan.

There must be quarterly executive reviews held for each team to track progress and set benchmarks for meeting these goals.

Streamlining business by creating interdisciplinary teams that focus on circular strategic thinking and execution will be key elements to ensure success. Teams should not be made up of executives only but a cross section of all departments, head to toe.  Great ideas come from thinking differently, challenge every member of the team to think about all aspects of the business; sales, marketing, accounting, product management etc. Remember, many successful executives started in the mail room!

Streamlining at a Glance
  • Eliminate duplication of efforts, i.e., individual websites, regional PR agencies & ad agencies
  • Institute an immediate evaluation of IT infrastructure, consolidate where you can and cut unnecessary systems.
  • HR should evaluate benefits and restructure immediately.
  • Set deadlines for strategic planning budget, resource allocation and performance management report
  • Execute. Execute. Execute.
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