Monday, 7 June 2010
A Blueprint for Success?
Vague, motherhood and apple pie in a so-called blueprint for success... from Warwick Business School.. How do you follow such a blueprint?
The following six factors were identified:
• A flexible and responsive management approach: Flexibility and effective delegation of decisions enables firms to surpass customer expectations and achieve above average growth
• Business process efficiency: Making active attempts to evaluate and optimise internal processes allows businesses to reduce costs and improve efficiency
• Marketing: Using a variety of marketing methods, such as mailshots and the internet, enables firms to make potential customers aware of products and services more effectively
• Human resources planning: Having a plan for staff development and future employment increases a business’ flexibility and responsiveness and aids its growth aspirations
• Growth ambition: Having a growth objective or ambition shapes a business’ strategy and its willingness to invest in development
• Research and development: A thorough understanding of the markets in which it works, and the best ways of delivering services, enables a business to compete more effectively
Increased uptake of the blueprint among small businesses could generate a further £15bn for the UK economy, the study claimed.
I need to see the report before I can really comment!!!