![[PHOTO] Light streaming through a key hole illuminating an old iron key.](../images/ph_findings.jpg)
A lot of companies didn't want to--and some still don't--accept that local and global economies are going to be bad for awhile. So nobody has really wanted to engage, renew and realign, and in some cases change dramatically. Many enterprises have slimmed back down to what they consider their basics, and held on to profitability.
But in a world where change is becoming more rapid and less predictable, that's not enough. Increasing the organization's agility and resilience is critical to survival. With several failed recoveries and signs of business activity picking up, it's a good time to go forward to basics rather than return to basics. "What business are you really in?" isn't as simple a question as it appears.
Before rushing to optimize processes across the enterprise, the following questions require tough-minded review by the management team and the board to achieve a business and organizational renewal:
Once having answered these questions with examples, you are ready to set up governance that promotes value.
Again, provide examples for each question. The managements of corporations, divisions, business units, private firms, professional organizations, and government agencies focus on the first but seldom address the remaining three. They don't push hard to measure results and value, rationalizing that "We have approval. If our process is implemented, the value will come."
Now is the time to revisit the "approved" processes, reflect on the company's track record for value realization, and focus forward.