Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
The famous author and cheerleader for globalization, Thomas Friedman, in his book The World is Flat identified some key drivers of globalization. He called these factors the flatteners to denote the premise of the book that these factors were responsible for the flattening of the world. In other words, globalization has ensured that all countries […]
In the previous many articles, we have been discussing a lot about the various concepts of inflation. We have understood in great detail, the way things are. However, when it comes to inflation, the ideal way that things must be is also extremely important. The only way to reach an amicable solution is to have […]
Both Six Sigma and Total Quality Management are effective tools for quality management but a thin line of difference does exist between them. Although the methodologies and procedures involved in both the two appear quite similar but there are certain major differences. Six-Sigma is a relatively newer concept than Total Quality Management but not exactly […]
The Benefits of Having More Women in the Workforce As most organisational and business experts agree, there is a business case to be made for Diversity and Inclusivity in terms of the enrichment of organisations where there are greater number of women and gender and racial minorities. Right from the variety of opinions that diversity […]
The Silicon Valley Bank collapse has the potential to be a turning point in the way the modern financial system functions. It is being touted as an event that is likely to have large-scale repercussions on the entire financial system. It is alleged that the Silicon Valley Bank is definitely going to have an impact […]
To survive and grow your business in the current times, you have got to learn the ropes of business once again. If you look at the market, you will see a lot of brands and organizations that were in the fore front in the last few decades no longer exist.
The leadership in the market place in all areas has changed and every few years we are witnessing the change of brands making it to the top. To reach the top and to retain the same position as well as grow calls for building Organizations that are constantly evolving and are on learning curve all the time.
Simply putting, if you as an Organization want to survive and grow tomorrow, you have got to be able to keep learning, internalizing and changing your Organization and such change should be constant.
The days when the Top management took time to meet and take decisions and maintained the hierarchy is gone. Today’s CEOs do not need to spend time looking at improving the production process or the quality process and trying to aim for increasing the profits. The scene has changed.
Today’s CEOs are always busy planning for tomorrow and involved in strategic planning as well as making investments that will take the Organization ahead and build profitable revenue streams on long term basis. They are thinking ahead of ten, twenty and thirty year’s horizon.
Day to day business is managed and driven by the functional and Business unit heads. The ongoing daily operations are managed through business processes that clearly define and guide the business operations irrespective of the individuals who are operating within the system.
The case for bringing in the Business processes into your Organization begins with your customers. In the market which is characterized by competition, you will find that the Customer Expectations too have increased.
Gone are those days when a product of good quality and best price was preferred by the Customers. Today the Customers look at several parameters before they choose to patronize one particular brand.
Besides product quality, they look at the Organization, its reputation as well as the total Customer experience that they receive. An airline offering cheap tickets does not necessarily attract all customers.
The customers today look at the convenience and experience of flying starting from availability of web check in and the time taken at the check in counters besides the in cabin experience and the responsiveness of the airline staff. With the power of internet, customers today are able to write about their experiences in an instant and reach across thousands instantly.
At the end, the customers expect value for money, quality as well as an exceptional experience, which means that every transaction, the ambience as well as the process which is involved in the areas that touch or interface with the customer are evaluated.
In terms of retail shopping, the customer looks at everything from the feel of the store, the ambience, the lighting to the staff appearance, attitude as well as the process of invoicing, delivery and the ease of shopping and the overall experience.
To ensure that the same quality of service and the same experience is provided every time to every customer, the Companies have got to build and base their operations not only people but on business processes.
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