Last year, HBR published this Robert Sher article -- https://hbr.org/2014/03/midsize-companies-must-prioritize-ruthlessly -- in which he suggests that midmarket leaders need to understand the value of time as the more important resource than money for midsize companies, and he offers three sound project management principles leaders can take to avoid business failure.
In my work with midmarket leaders over the past decade, this prioritization of time over money is one that I've seen time-and-again at leading, growth-fueled midsize businesses, and the best organizations apply that lens not only in terms of project management, but in strategic decision-making, as well. It's not to say that cash isn't important, rather, it's the idea that the entrepreneurial spirit spurring growth can lead to an accumulation of diverse projects that -- if all are pursued without strict prioritization -- can derail a company. As Chris Zook pointed out in his 2001 book Profit from the Core, the majority of companies that sustain growth over a decade or more focus much more on their core than on diversifying. Leaders who combine Sher's ruthless prioritization techniques with Zook's focus on the core can lead to a period of sustained success for their midmarket business.
In my work with midmarket leaders over the past decade, this prioritization of time over money is one that I've seen time-and-again at leading, growth-fueled midsize businesses, and the best organizations apply that lens not only in terms of project management, but in strategic decision-making, as well. It's not to say that cash isn't important, rather, it's the idea that the entrepreneurial spirit spurring growth can lead to an accumulation of diverse projects that -- if all are pursued without strict prioritization -- can derail a company. As Chris Zook pointed out in his 2001 book Profit from the Core, the majority of companies that sustain growth over a decade or more focus much more on their core than on diversifying. Leaders who combine Sher's ruthless prioritization techniques with Zook's focus on the core can lead to a period of sustained success for their midmarket business.
I generally check this kind of article and I found your article which is related to my interest.LEADERSHIP COACH London Genuinely it is good and instructive information. Thankful to you for sharing an article like this.
ReplyDelete