Blog Post

Key Challenges that Impact Corporations

Five Key Challenges

Problems We Need To Solve

We face challenges. How do we get strategically clear about what we need to do?

Having the right insight at the right time and place matters. Predictive insight creates opportunity to anticipate change. Knowing what is possible can give you an edge. When we heighten awareness of what we need to do, it is easier to move forward with new initiatives. Context provides perspective you need to know to take action.

The point is to get things right the first time around. It is painful to learn old lessons. Projects fail when there is a false sense of reality. Get realities of situations wrong . . you are destined to get poor results. It is painful to fail when there is opportunity to get what you want to achieve. Getting work done efficiently is an added bonus.

Ask yourself: Do you have the information you need to make the best decisions? How do you know?

Do you really know what is possible? Gut instincts are important, but often wrong. The biased nature of our thinking sets up situations where you can get blindsided. Consequences can be very expensive.

Insight can give you an edge to solve problems you need to solve. Over the years we analyzed organizational structures, business processes and decision making in world-class corporations. What we learned was eye opening. For instance, we learned that there are always opportunities to discover new solutions. Effort to identify new kinds of insight can be extremely rewarding. The point is to find better ways to get the best results. Needs and interests of every person vary. We need to get work done. We have different ways to get work done. Getting everyone on the same page is the challenge.

There is great benefit when we can get work done more efficiently. Benefits differ depending on what you need to do. People waste lots of time doing the wrong things. This is one reason why knowledge worker productivity is declining. Opportunity to optimize operational performance is often contigent on how we overcome differences of opinion. There is a balance. We find balance collectively. What is key is good information. You need facts, not fiction. This is how I have learned to solve problems:

1) First you need baseline data to benchmark your current situation. The problem, you do not have the data you need. How do we know? Decades of research profiling hundreds of thousands of knowledge workers. You need DNA based data on your organization to develop strategies, roadmaps and action plans to optimize operational performance with great ROI. What will you do to get your baseline data?

2) Every problem must be valued and put into proper perspective. Problems are caused by an interconnected maze of activities and outcomes. This is why we model problems and situations. You need core analytics to model operating performance to analyze cause and effects. You need to know activity-based costs to develop effective solutions. True cost data helps you to know where to focus efforts and resources.

3) Problems are not solved on the level they are created. It is necessary to rise above situations to find the best solutions. People do not like to change. We change to satisfy new needs and concerns. We need valid reasoning to engage in change efforts. Value is something we create. If you want to achieve the best outcomes, get new perspective. You might see something you have never seen before. What will you do to create better outcomes?

4) How will you evolve legacy systems and outdated business practices? There is a cost to indecision. Knowing where, when and how to focus resources and efforts matters. The point is to create the greatest gains while creating the best quality of life. You need insight to do this efficiently. You do not have the insight you need. What will you do to get what you need?

5) How do you measure value creation when you cannot optimize operating performance? This is a real dilemma. When you do not have the insight you need, value creation suffers. There is huge opportunity when you have the insight to know what you need to do. Priorities become obvious and effort is directed to where it is needed.

Once you know what is possible, it becomes a fiduciary responsibility to do the right things. Failure to act when you have good options is not a good idea. Especially when you consider the benefits. What is important is to engage transformational efforts one step at a time. Start with the DNA of your business. Do you know how? You can learn. What will you do to improve the way you solve problems?