What Have You Done To Manage Rapid Growth-wetnwild

UnCategorized A company has experienced very rapid growth. This is creating space constraints, as well as stress on the staff and CEO. The CEO finds it difficult to break away from the day to day to focus on strategy. Employees are not keeping pace with the evolving needs of the Company and turnover is increasing. What have you done to manage rapid growth? Advice from a group of CEOs: The only way out of this is to improve your forecasting of business growth, and the infrastructure development needed to support this growth. This includes regularly updating your sales and production growth forecasts, updating staff and training plans to meet growth forecasts, and updating infrastructure and support plans. Without these, the organization will whipsaw in response to market demands. Next, take a critical look at your staffing and leadership development plans and the training that you are providing your staff. Look at those areas that are impacted most by business growth and which are under the greatest stress. Determine whether you have the right managers and support in place. Evaluate whether you have the right people, and enough people in place to meet the demands on the company, and whether they have the skills to handle new demands of their positions. Critically evaluate the new jobs that you take on and assure that you have the staff and infrastructure to meet client demands. While this can be challenging, particularly in an businesses with long R&D lead times, you must assure that you always deliver on your company’s integrity, reputation and core values. The above advice will assist you in meeting immediate needs. You should also be looking at long-term plans from a strategic standpoint. As an exercise, ask where you will be in 10 years. Articulate this vision down to the detail, and drive your plans down through the organization. Make sure that everyone is on the same page, aligned with the same values, aiming at the same targets. Also in line with your business strategy, differentiate your vision from your mission. You vision is a 10 year time frame, not one year – keep it way out in front of you. Your mission is what you will be doing this year and in 5 years – the activities that you will undertake to realize your longer term vision. Create your vision and mission and drive these through the organization. This will give you clarity on how you wish to do business and will help you to make hard choices as you handle rapid growth. About the Author: Sandy McMahon is publisher of Ceo2Ceos (.Ceo2Ceos..), a non-.mercial site for executives to share best practices. He is also President of Executive Forums of Silicon Valley. With over 20 years of executive experience, Sandy has a BA from Brown, an EdM from Harvard, and an MBA from Duke. Article Published On: 相关的主题文章: