Latest Posts in Strategy and Operations
When it comes to knowledge management (KM), not everyone agrees on its definition or value. Some people believe that KM is a stand-alone program or project, but that is incorrect. Knowledge management refers to the explicit and tacit information life-cycle that runs throughout the entire organization continually.
Many business owners dream that their sons or daughters will take over the family business, but struggle with feeling confident it’s what’s best for the company. In a report from the Family Business Institute, 88% of family business owners said they believed their family would control their business in five years. Yet, according to the report, only about 30% of family-owned businesses survive into the second generation.
Do you continue to struggle to find or retain workers? Are you having to deal with rising labor costs simply to hire staff? Is a lack of people power restricting you from taking on new business? Stop the vicious cycle and lean things out.
Would you choose to take steps to strengthen your business and enhance its reputation if it meant improving your organization’s ultimate performance? The goal (no pun intended!) of this blog is to lay out the process you’ll need to do just that. Goal setting is important because it helps outline the specific path that an organization must take to achieve desirable outcomes. It helps provide direction and assess organizational progress.
As a small business owner, you’re crazy busy with everyday tasks that support running a successful company … yet planning for the future is essential to ensure financial stability and growth. This is where Succession Planning comes into the picture.
If you’re interested in learning more about knowledge management, or if you need more insight on why it’s important to your company, you’ve come to the right place. In this brief article, you will learn the basic definition of knowledge management, the two main types of knowledge and how your company stands to benefit from a knowledge management plan.
When it comes to running a successful company, there’s no question that profit and growth are only sustainable if a clear succession plan is in place. What good is your business if all the institutional knowledge needed to handle the in’s and out’s of the company is tucked away in your CEO’s head?
Baby Boomers are retiring at a staggering pace of over 4 million per year. Consequently, this has created a dramatic increase in privately held company transfers to the next generation. Needless to say, this can be a huge undertaking. Many business owners are caught in a challenging situation where they feel stressed and unprepared.
How should a company evaluate new ideas? That’s a question I pondered a lot in the past. Who hasn’t sat around a board room table with colleagues, listening to a presentation by someone looking for buy-in on their supposed great idea?