5 Must-Have Elements for Organisational Success
Organisational success — whether financial or cultural or any other aspect — depends on the right combination of key factors. Often-cited tactical components include hiring and engaging the right talent, making transparent decisions, offering competitive total rewards, and many more common practices.
Yet, when one considers the long-term viability of any organisation, a more comprehensive approach can indeed prove advantageous. This alternative involves having a broad overview of the end-to-end process that forms the foundation of the organisation’s mission. Ultimately, an end-to-end process views a system from its initial starting point to its final step — resulting in an efficiently working solution. The functional outcome that emerges is one that the organisation can accomplish independently, through the efforts of its own or its network’s capability and resources.
From an end-to-end perspective, therefore, five elements can positively move the company toward achieving stellar performance — not only of the company overall, but also on the part of all its stakeholders.
Element 1. The Right Governance
Leadership roles are critical to grow the business and outperform industry peers in today’s extremely competitive market environment. With the right leaders in place, major transformational change and innovative initiatives are possible. Leadership teams need to develop convincing vision, highly compelling ideas, deep insights about the business and their people, and, most importantly establish the rules of the game and ensure that all stakeholders respect the same rules.
To achieve success, the organisation requires a framework and rules that determine its operation. The right leadership, tasked with guiding the organisation within such a framework, should be fully aligned not only among themselves but also with the governing rules and how they are enforced. That said, they must also follow the rules and not consider themselves “above the law.” Once this foundation is strongly established, monitored, and endorsed, there will be little room for any misunderstanding about how things ought to be managed across the organisation.