Creating Sustainable Future for Excellence...

Creating Sustainable Future for Excellence  An organization can achieve sustainable excellence if it embraces and respects the environment in the present and cares for the well being of the  generations to follow. The concept of creating sustainable future is broadly defined as meeting the needs of the present generation without compromising the ability of future generations to meet their needs. The ability to adapt to change is a crucial element for the survival and the key to success for an organization. The critical issue of the present time is the ability to sustain  in the face of rapid global change and resource competition. Everyone including employees and stakeholders are to play a part for creating a sustainable future. Management is to practice transformational stewardship and to find sustainable practices and strategies for the organization to create sustainable future. The principles adopted by the organization creating sustainable future are more holistic than the practices followed in the past. The management is to recognize that both the need for return on investment, the wise use of resources, and seeking the well being of their employees and stakeholders are equally important. The organization creating sustainable future is to utilize appropriate technologies and strategies for securing its future and to benefit its neighborhood. It is to shift towards the practices that respect people, profit and planet to remain not just competitive, but secure in the market. Organization creating sustainable future take managerial decisions which are based not only on financial concerns but also on environmental and social concerns. Such organization (i) creates long term financial value, (ii) knows how its actions affect the environment and actively work to reduce their impacts, (iii) cares about its employees, customers, communities, and other stakeholders and work towards making positive social changes,...

Organizational Excellence...

Organizational Excellence It is difficult to define the organizational excellence and even more difficult to achieve it. For achieving organizational excellence there has to be a paradigm shift in the thinking of the organizational leadership and its stakeholders. Organizational excellence helps an organization to excel in all its sphere of activities. It makes the organization to achieve and sustain outstanding levels of performance which meets or exceeds the expectations of all the stakeholders. An organization to achieve sustainable organizational excellence needs support of the eight key organizational pillars as shown in Fig 1. Fig 1 Eight key organizational pillars These pillars provide the foundation for achieving the excellence as well as a common language for the top management. The organization is to bring permanent change in its values and operations by focusing on managing of these eight pillars. These pillars describe the attributes of the culture needed in the organization for excellence. Each of these organizational pillars is not new by itself. Each has its own importance. But the key to organizational excellence is combining and managing them together. They have to integrate into the organizational culture for providing excellence to the organization. These eight pillars are as follows. Customer centric approach By following customer centric approach, the organization adds value for its customers on a consistent basis. This is done through understanding customers, anticipating and fulfilling their needs, meeting their expectations and utilization of the available opportunities. Development of capabilities The organizational capabilities are developed by bringing effective and permanent change in its operations through successful change management. The changes are to encompass all the organizational activities within and beyond the boundaries of the organization. Focus on creativity and innovation The organization can achieve excellence through continual improvement by harnessing creativity and innovation....

Core Competencies

Core Competencies  Core competencies’ is deep proficiency in the organization that enables it to deliver unique values to the customers. It embodies organization’s collective learning especially coordination of the diverse production skills and the integration of the multiple technologies. ‘Core competencies’ is hard for competitors to copy or to procure. Core competencies’ creates sustainable competitive advantage for the organization and helps it to branch into a wide variety of related markets. It contributes substantially to the benefits of the organization’s products offer to the customers and hence effectively helps in the businesses of the organization. Understanding of core competencies allows the organization to invest in the strengths that differentiate it from others and set strategies that unify the entire organization. Core competencies’ is a concept in the management theory which was introduced by CK Prahalad and Gary Hamel in 1990 through their article ‘The Core Competence of the Corporation’.  Success of an organization depends on acquisition of core competencies and development of core products. The concept as explained in the article is summarized here. This concept of core competencies provides advantage to the organization. It is found in the ability of the management   to consolidate organization wide technologies and production skills into competencies that empower the individual businesses of the organization to adapt quickly to the changing opportunities. The ability of the management to identify, cultivate, and exploit the core competencies makes the growth of the organization possible. Decentralization in the organization makes it difficult to focus on core competencies and in such case there is increasing dependence on outsiders for critical skills. Core competencies’ is not necessarily about outspending rivals on research and development, sharing costs among business units and integrating vertically. These actions themselves are not sufficient in building of core competencies...