A Fish Rots From the Head: A Commentary On Corporate Culture
Recently, a well-respected Chairman and CEO in the financial services industry shared an old saying with me. He said, “A fish rots from the head.” We were speaking about organizational culture at the time and the point he was making is that an organization’s culture originates from the top of the company. Of course, his statement is true, but that’s only a part of the culture puzzle.
I’m Already a Customer: Disconnected Strategies and Data
Most of us do not mind receiving well-targeted and relevant marketing messages. Sometimes they can be helpful and perhaps educate us about a product, service or upgrade that is of interest. Conversely, we can be confused and perhaps a bit offended when an organization’s marketing misses the mark. How many times has the financial institution you have banked with for more than a decade sent you mail to entice you to open a checking account and receive a new credit card? Besides the obvious cost involved of mailing the materials, consider the wasted money spent trying to recruit you as a new customer when you are already a long-term patron. Such nonproductive sales and marketing efforts trigger questions, such as: “Why are you sending me solicitations to become a new customer when I already do business with you?” Disconnected and disparate customer databases can lead to such problems, but the larger issue to be addressed is that of disconnected business function silos.
Integrating Business Unit Strategies Into a Synchronized Corporate Strategic Plan
Once a business grows large enough to require separate divisions /
units to support diverse lines of business, the challenges and
complexity of strategic planning and strategy execution begin to grow as
well. As the business portfolio expands, strategic planning models must adapt and change with the growing business for optimal results to be recognized.
A Second and a Half
These days, organizations need all the help they can muster to maintain a slim second and a half lead over the competition and navigate around or through the unprecedented number of environmental threats that loom in the business environment. In the November 2011 article, How Your Competition Affects Your Strategic Plan, we explored the threat of new entrants, the power of buyers, the availability of substitutes and the power of suppliers. Even in a seemingly successful business enterprise, it doesn’t take long to lose your competitive edge. Threats can and do emerge from every direction. This article focuses on threats from competitors as well as other parts of the business ecosystem.
