Maintain your old Siemens Hipath system

Rx for Falling Corporate Profits

Once again the squeeze is on as renewed inflation worries slow the economy's growth and many companies resort to believing that cost cutting is the best means to scramble back to profitability in an uncertain economy. The problem with this classic approach is that it sends the clear message to your brightest and best talent that no matter how well they perform, today there is no job security. Not only does such a move have a serious impact on morale, but as the economy improves we will find ourselves once again in a very tight labor market. It will be next to impossible to replace laid-off workers and worse yet, your current work force, especially those brightest and best, may well decide that it is time to move on to greener and possibly more secure pastures before the next downturn hits. Is there a better approach than cutting off your nose today and spite your face tomorrow? Absolutely!

The way for any organization to beat this cycle, especially in an economy that may well in this decade experience several see-saw periods of growth and contraction, is to adopt synergistic innovation as its model for continuous expansion despite short term economic declines. Most corporate leaders know that productivity increases provide the best way to increase profits quickly without increasing prices. What is less well understood is that continuous innovation is the most effective means to improving productivity over the long term. Internally generated innovation in products, services, processes and methods provides an endless series of new opportunities to make rapid productivity increases for both the organization and its customers an on-going reality.

Innovation channels the creativity of the organization's greatest asset, its people and puts it to work in practical ways that are "real world market" driven and directed. Far too often we immediately look outside of our organization for "new solutions", when instead we should rather be looking within, especially in times of economic downturn. New ventures and other outside opportunities, while potentially profitable for the long term future, typically take a significant period of time and frequently much additional capital to bring them to the point of being substantial profit contributors. Meanwhile opportunities often abound internally to enhance our market offerings, streamline our operations and save money through creative approaches and best of all, these capabilities exist today within the minds and hearts of our present employees. If we will endeavor to unlock these potent assets rather than choose the typical knee-jerk reactions of cost cutting and down-sizing as our first response, we will find our people willing and capable to respond in frequently unimagined ways to grow our productivity and profitability. Later, when the economy rebounds, we will not need to replace down-sized workers and will find we have built a deeper allegiance and sense of ownership within our people.

Once we have initiated a culture of innovation, then it is the primary responsibility of the leadership to ensure synergistic outcomes. The power of synergy, although simple in concept, is the most overlooked responsibility of today's senior executive corporate leaders. Large organizations are like campfires that periodically burn down until mainly embers remain. The initial fuel is mostly spent and therefore the first reaction is that we need new fuel, new resources, new investment, acquisitions, etc. to build the fire back up. Yet when out camping and the fire burns down, the first thing we do is stoke the existing fire and mound up the glowing embers. Almost immediately the flame erupts again without adding new fuel.

All we needed to do to go from dying embers to a raging campfire was to integrate the existing embers so that rather than each burning alone, they burned synergistically, combining their individual heat. So too, the careful integration of all of our products, services, processes and methodologies, in short, everything the organization is and does to achieve the greatest bang for the buck is no more than the organizational form of stoking the fire. Unlike adding new wood to the fire, the synergistic result of stoking is virtually immediate and without the need to invest capital in additional resources. Synergy is the ultimate multiplier, as it opens the door to exponential results again and again!

Copyright 2005 by John Di Frances

John Di Frances is an internationally recognized organizational legacy expert and keynote speaker. www.difrances.com

In The News:

Undersea 'blasts' recorded at same time Russia-Germany gas pipelines damaged
Tue, 27 Sep 2022 09:39:00 +0100
Mysterious leaks in the Nord Stream gas pipe network began with "powerful subsea blasts" and may have resulted from an "act of sabotage".

Qatar 'conscripting civilians and summoning diplomats from abroad' to do World Cup security
Tue, 27 Sep 2022 11:31:00 +0100
Qatar has called up hundreds of civilians - and summoned back diplomats from overseas - for mandatory military service to operate security checkpoints at World Cup stadiums.

Eleven children among 17 killed in Russia school shooting as wounded to be taken to Moscow
Tue, 27 Sep 2022 13:15:00 +0100
More than a dozen children wounded in a school shooting in central Russia are being transferred to Moscow for further treatment.

Shakira to face trial over alleged £13m tax fraud
Tue, 27 Sep 2022 12:16:00 +0100
Shakira is set to go on trial for tax fraud after a Spanish judge approved proceedings against the pop megastar.

Lawyer facing charges in case linked to Kenya's president found dead
Tue, 27 Sep 2022 11:31:00 +0100
A lawyer facing charges at the International Criminal Court (ICC) in a previous case linked to Kenya's recently elected president has been found dead.



tikatoshop.it

Erfahrungen mit Pallhuber Wein
Agen Bola SBOBET Terpercaya

Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

What Part of Handwriting on the Wall Dont You Understand - They Dont Hire People Over 50

In a recent talk to the Detroit Economic Club, President... Read More

Identify the Growth Factors

In "The Incredible Hulk", mild-mannered scientist Bruce Banner discovered that... Read More

Evaluating an Opportunity

Business opportunities are often based on broad trends, such as:?... Read More

Creativity & Entrepreneurship: The Creative Evolution of an Intellectual Property©

In each of us, there is a creative spark -... Read More

Are You an Entrepreneur That is Starved for Time?

Being an entrepreneur and running a successful home-based business is... Read More

Getting Rich Isnt a Bad Idea

You've seen plenty of articles claiming to offer you the... Read More

Entrepreneurs - Your Well Being Should Come Before Profits

I believe the spiritual aspect of life, especially to entrepreneurs,... Read More

Lets Not Forget About The Little Guy

Every business has to start somewhere. What truly makes this... Read More

Strategies for Overcoming Obstacles to Discovering Your Gifts

What are the unique gifts that differentiate you from other... Read More

10 Essential Tips for Starting Entrepreneurs - Ignore these at your Peril!

1. Do What You LOVE: If you've chosen your business... Read More

The History of the Franchise Business - Learning about Business Opportunities by Looking at the Past

Hair care has been around as long as humans have... Read More

The Reluctant Entrepreneur

It seems odd to think of a person opening a... Read More

Ten Traits of Successful Entrepreneurs

Successful entrepreneurs have many traits in common. Here are ten... Read More

How You Can Earn $1000 A Week Part Time

About 6 years ago I started to notice that certain... Read More

Business Startup Checklist

Use this comprehensive checklist to plan each step of your... Read More

If It Was Easy Everybody Would Do It

Q: I started my business about a year ago and... Read More

Solo Mojo for Solo Entrepreneurs --- Where?s Your Juice?

I recently read a magazine article about Andrew, a 42-year... Read More

Entrepreneurs Just Get Better With Age

Q: I'm thinking about starting a business after I retire... Read More

Four Steps to Entrepreneurship

As more and more people start or consider starting their... Read More

How Good Is Your Big Idea

Q: I want to start my own business. I have... Read More

Top 10 Mistakes Entrepreneurs Make Before They Even Start

So you want to start a business. You have an... Read More

Increasing Business BIGTIME with a Successful Referral System

What I've discovered from most of my small business clients... Read More

Think - Dont React

How you think, your relationship with yourself is what decides... Read More

Good Questions, good Answers; Bad Questions, Bad Replies

I'm convinced that asking the right questions is one of... Read More

Entrepreneurship Story; Over Regulation in Franchising Final Chapter

Sally and Jim have launched their automotive franchise business and... Read More