My New Year message in the form of................... Corporate advise to CEOs & Managers @ All levels.

My New Year message in the form of...................

Corporate advise to CEOs & Managers @ All levels.

Good Morning and wishing All CEOs and Managers @ all levels, an innovative,result oriented  and profitable 2016.

A TRUE CEO/Manager First of all should know how to prevent FAILURES...............Then learn and understand the art and science of......... how to Manage failures, if and when occurs........and thereby eliminate their customer dissatisfaction.....as the good old belief establishes that a dissatisfied customer will  continue to remain  as a bad symptom and sign  in the records of your company, while a satisfied will remain as good symptom and sign  and the former invariably happens as a result of your Company's FAILURES due to poor performance leading to poor results.

Failure is a strong word. Few corporate  CEOs/Managers would readily and really admit that their innovation programs have not been successful. An honest assessment, however, would reveal that in many companies, innovation succeeds only on sporadic occasions. In too many cases, innovation is nothing more than a management buzzword or slogan.........and no results are ever achieved.

It does no good to crib about the lack of results from corporate innovation concepts. It makes much more sense to study the causes of failure and how to overcome failure by initiating  corrective action.

There are only three basic reasons why corporate innovation fails......................... Not enough commitment and not enough use of best and ethical practices.......and  lack of adequate financial resources.

The Causes of Corporate Innovation Failure..........

Managed innovation is designed to arrive at effective solutions as quickly and inexpensively as possible. At the same time, managed innovation is not free of cost, and it does take time. When management does not invest enough resources to innovation, results will suffer......and ultimately FAIL.

Resources come in two forms, human and financial. Human resources are by far the most important. Employees must be assigned to innovate and then given the time to complete the task. Failure occurs when CEOs/ managers refuse to realise and to release their employees to work on innovation....and Financial resources as already mentioned earlier is, Company management's  responsibility  to invest.

Funding during a First-class innovation initiative may be required for effective customer services, as the customers pay for it and in many a cases well in advance as per company's corporate policy, as this comes to the corporate, free of interest . Say for a practical instance, CEOs/Managers, who were reluctant to spend Rs.50,000 to find  a solution that had the potential to produce 20 crores in revenue............... The company saved Rs.50,000, but it had no other solution in hand with the potential to generate that much revenue.

Best,ethical and transparent practices are also very essential  for innovation success while dealing with its customers. Follow the  these  guiding principles  for each of the four steps in the process: 1. Discover. 2. Invent.3.Invest 4.Refine.

Tension or frustration may sometimes occurs between the new methods corporate company's introduce and the old ways of doing business. For instance, one team did fantastic work on the first two steps under proper guidance. They identified an unfulfilled need of its customers and invented a solution to meet and fulfill the need....but lacked in adequate investment from Management.

However, during the Refinement step, they decided not to use the principle that should have been used , and they went forward based on their existing idea development process. After more than a considerable period of time being wasted, they still had not refined the new innovative concept to the point where they could make it.

And CEOs/Managers to bear in mind at all times while engaged in customer service the following two mantras(watch words) to be successful and to satisfy customers at least to certain extend and thereby increase their market share..........& to create enduring value

1. We don't think to breathe.................We breath to think.

2. We can't spell "S(U)CCESS with out "U" ........OUR ESTEEMED customers.

GOD BLESS  "YOU ALL" My Dear...........CEOs & Managers.......and enjoy a successful and profitable YEARS HEAD.

J.K

PS: You will find this article in my web page, blog titled  " BUSINESS ETHICS & PRACTICE,linked-in and Face Book ,to benefit larger sections of readers.