Flex or Fail: 3 Keys to Flexibility
I will not keep you in suspense. There are <u><b>3 Keys to Flexibility</b> that all organizations must have:</u>
<ul>
<li>Open Minds</li>
<li>Objectivity</li>
<li>Competent Management</li>
</ul>
In the world of modern business, a company must be flexible in its operational philosophy and overall approach, lest that business subsist or fail entirely. This flexibility means more than simply adapting to changing economic factors; it means a willingness to reexamine any or all business practices, from sales and marketing to all aspects of operations; it means listening and hearing as well as measuring and planning. Some enemies of flexibility are closed minds, a focus on the bottom line only, managerial incompetence, and selective blindness.
Every business must identify or develop effective barometers that accurately measure key performance ratios, the competitive set, and changing market conditions. When those measuring tools indicate trouble, such warnings must be heeded and action taken that is properly planned, not panicked or impulsive. The focus must be shifted away from what has not worked when "red flags" appear, and proactive, planned actions executed promptly yet carefully.
Often times as a business owner or someone with a principle interest in a business, the task of taking the right road can be cloaked in emotion or an inability to become flexible. I like the metaphor of the bicyclist who has a front tire suddenly caught in a rut or trough and begins to fall. The temptation is to focus in the direction of the fall, which causes a crash instead of focusing the other direction, bringing the bike upright and back into balance. An over-correction might have the same undesired result. The owner or principle must force objectivity, often times by stepping back and realizing that this is a time for a critical examination and decisions that must be made carefully, and perhaps by more than one or two minds.
Recently I managed a mid-scale, select service franchise hotel property for an individual ownership, as opposed to a corporate hotel. This was the first such occasion that I have encountered; all previous positions I enjoyed were in seasoned, experienced, and entirely professional hospitality corporation hotels. In brevity, the owner was operating this mid-scale, select service, nationally recognized franchise hotel as if it were a small-town, mom-and-pop motel. The owner was set in his ways; he seemed hard-wired to see his needs from the hotel, as opposed to the needs of the hotel in its market. Our philosophical differences were irreconcilable. The hotel was, in fact, on a "probationary status" with the franchiser. I fear that this once-proud hotel is doomed to subsistence or ultimate failure.
An objective perspective, an open mind, and competent management lead to flexibility, adaptations to changes, or even sweeping alterations in philosophy. Flexibility sets the stage for prosperity. <b>These concepts are but one small aspect of what a strong Business Consultant should share in the context of change management.</b>
Questions and Answers
Article Tags:
business consulting
,business
,change
,change management
,risk management
,success
,flexibility
,failure
,business failure
,ensuring success
,business efficacy
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