Tag: Employees

Why You Should Focus On Your Business Growth

by Bright Osadiaye, posted in Improve Academy, Leadership, Management, Motivational Quotes, Personal Development

‘Your business is a living organism.’ If you want it to thrive, you must take care of it.

According to Kevin Cope, ‘Companies either continue to grow or risk dying. Companies growing profitably tend to be more energized, innovate products and services, expand market share, attract motivated top talent.’

‘Companies not growing can enter a ‘downward decline and die.’ cycle of higher costs, lower sales, lost market share, lower share price, cost cutting, reduction in force, demoralized employees, lost productivity. lost customers, more loss market share, and so on. The competition will take over their markets, customers, brand positioning, and even their best people.’

‘Organic growth means internal expansion- opening new stores, selling more products, and entering new demographic or geographic markets. Inorganic growth means merging with acquiring new business to increase revenue.’

‘Growth expectations may change based on a company’s stage of development. High growth may be realistic in the early years but may be less sustainable as the company matures and becomes larger and more complex.’

‘Risks of high growth include expenses that grow faster than sales revenue, a decline in quality, and burnout among employees. Many companies grow sales rapidly but lose money and go out of business.’

‘People are the most important resource for any company. Employees and customers are two important stakeholders to your business.’

‘Successful companies usually have a history of strong employee satisfaction and longer employee tenure, so companies work hard to keep employees satisfied and to attract top talent.’

‘Your customers are the lifeblood of your business. You should focus on your customers more than on your competitors.’

‘Employees can improve asset ultilization by eliminating inefficient or nonproductive assets, getting more productivity from existing assets, making business processess more efficient, and by working to use personal time more effectively.’

‘The productivity of employees reflects how much work employees can accomplishand is often affected by the tools and technology they have and the training and education they receive.’

‘Employees can impact asset strength by doing anything that benefits cash position.’

‘Investors evaluate the worth of companies in large measure by their potential to consistently increase profits from their core business over time.’

‘Cash is the fuel of business. All companies require cash to operate, pay bills, and invest for the future. Lack of cash is a primary reason businesses fail.’

Finally, ‘Everything you do to impact cash, profits, and assets influences your balance sheet.’

Source:

Kevin Cope (2012). Seeing the Big Picture: Business Acumen to Build Your Credibility, Career, and Company

How To Develop Your People

by Bright Osadiaye, posted in Leadership
Photo by fauxels on Pexels.com

‘A good manager makes things better. If you manage with excellence, over time even the doubters will recognize … that they are better off, and they will support you in your new role.’- Larry Sternberg and Kim Turnage

‘To bring about rapid change, you must be prepared to replace employees who cannot or will not be a part of the future the organization envisions. Do it compassionately, but do it swiftly. Be proactive in helping new employees build positive relationships quickly.’- Larry Sternberg and Kim Turnage

‘People will have reasonable questions that you cannot answer. Do not be defensive about that. Accept it as part of the change process, and express confidence that you will figure out the answer together.’- Larry Sternberg and Kim Turnage

‘When an employee brings you an idea, you are in a learning moment. Do not shoot it down. Make time to discusss the possible consequences, both good and bad. Be open to the possibility that it might be worth a try. If you engage in an open-minded discussion, or if you try the idea, somebody will learn something. It might be you.’- Larry Sternberg and Kim Turnage

‘Speak only positively about people who are absent. If you do not have something positve to say, follow the advice your mother gave you and say nothing. This will enhance your moral authority, build trust with your people, and improve your culture.’- Larry Sternberg and Kim Turnage

‘When you exert moral authority, your capacity to influence others increases dramatically, thus improving your ability to help them grow as human beings. This is the most powerful way to shape a culture.’- Larry Sternberg and Kim Turnage

‘Your employees expect you to hold people accounatble. The way you respond to poor performance must be thoughtfully tailored to each situation.’- Larry Sternberg and Kim Turnage

‘Encouraging employees to have fun at work while maintaining a focus on high performance builds closer relationships, improves engagement, and increases productivity.’- Larry Sternberg and Kim Turnage

‘Discussion is not enough. As the manager, you must walk the talk.’- Larry Sternberg and Kim Turnage

‘To build an extraordinary team, sometimes you have to let someone go.’- Larry Sternberg and Kim Turnage

‘Empowerment accelerates change.’- Larry Sternberg and Kim Turnage

‘When people are more empowered, more learning occurs, whether their suggestions work or not.’- Larry Sternberg and Kim Turnage

‘The more decisions employees are empowered to make, the higher their level of job satisfaction, the greater their degree of engagement, the more they learn, and the greater the likelihood of retaining them.’- Larry Sternberg and Kim Turnage

‘People do not lose respect for you because you become friends with some employees. They lose respect when you decide not to do your job as a manager.’- Larry Sternberg and Kim Turnage