Albu On Strategy

Stop Business Killers Before it’s Too Late

Business killers can creep into an organization, stifling momentum or, in the worst cases, driving companies out of business. Here are four business killers we commonly encounter, and how Albu Consulting has helped to address them:

An unwillingness to change – Change isn’t easy for any organization. It requires commitment at all levels throughout the company. But change is necessary as your industry changes around you. Don’t allow your company to become stagnant. Find ways to motivate employees to look for new ideas and processes that will improve business performance, adapt to the changing world, and take your organization to the top of your industry.

Lack of clear direction – To be most effective, employees need to know what the organization’s objectives are and how their work will help the company achieve its goals. Without clear direction from the top, departmental politics will often take over, creating different agendas. This leads to poor communication and a lack of cooperation among departments. Leadership means setting clear direction, assigning responsibility and holding people accountable for results. Your people will welcome the clarity and understand their value to the company.

Spreading resources too thin – Most companies I work with have plenty of ideas, which can be of great value. But I’ve yet to find a company with limitless resources. Chasing too many ideas at once increases risk and spreads resources too thin. Setting clear direction and aligning activities to goals will focus resources on the most promising ideas, maximizing your return on investment.

Inadequate follow-up and follow-through – When business leaders are pulled in 10 directions by day-to-day responsibilities, it’s much easier to put off following-up on key initiatives.But inadequate follow-up and follow-through can be ultimate business killers. Staying on top of key projects is important to achieve the company’s goals, and reinforces to employees how critical certain projects are to the company.

At Albu Consulting, our best practices approach to business renewal will help you avoid these business killers. If you’d like to learn more about how we can help you, give us a call.

Posted in Newsletter, Strategy Management.