A positive company growth curve is every business owner’s dream. However, the business model that helped S&P 500 companies thrive in the 1960s is going to change. In this article at Information Week, Steven ZoBell shares tips for maintaining a positive company growth curve in the digital era.
The Digital Era Growth Trajectory
It was possible to maintain your brand without innovation. In the digital era, organizations that were market leaders can be the ones that get disrupted. A recent State of Work research has figured out how to maintain a positive company growth curve despite living in an era of disruption. Here are the findings:
Having an Agile Organization: Companies have embraced Agile because their business growth is dependent on it. For a positive company growth curve, they are facilitating more IT spends and changing business models around emerging technologies. Team members are part of cross-functional projects, and hierarchies are flatlining at a rapid pace. Prioritize deploying subject matter experts rather than traditional team dynamics to improve project quality.
Updating In-House Tools and Systems: It is necessary to equip teams with the right tools and systems to experience a positive company growth. The State of Work survey found out that 80 percent of employees want their devices to be as updated as that of Amazon’s. 94 percent want their data to be as accessible as Google. 88 percent rate their job satisfaction with how updated their office systems and tools are. Taking a cue from employee expectations, analyze the usability of in-house technology in terms of industry standards.
Transparency in the Decision-Making Process: Only 46 percent of the survey participants believe that companies decide business goals based on data. Some do not even know how the top management decides. Leaders that want a positive company growth need to make their business decisions accessible to everyone. Find out how your employees get to know about organizational choices. Learn how data is helping you to evolve company strategies.
Evaluating Employee Performance: Agile organizations always prioritize employee performance because that eventually fulfill corporate goals. Market leaders also work on management performance to enable an innovative work environment.
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