Is your Company Making the same mistakes?
Take the time to find out.
Mistake 1: Taking Existing Customers for Granted
When demand slows, the last thing you want to do is to take your customerbase for granted by assuming existing customers will remain loyal through tough economic times.Instead, customers may be faced with their own financial difficulties or could be lured away by incentives from the competition. Staying in tune with the needs of your customers and reacting appropriately can help shore up loyalty and maintain sales.
You need a simple and effective way to identify top customers based on profitability, size, or potential. But if
customer and sales data is located in multiple software applications, it could be difficult to access the information and build an overall picture needed for valuable insight into customer behaviors.
Mistake 2: Failing to Capitalize on Market Opportunities
Even with limited investment funds, you still have to make fact-based decisions about short- and long-term opportunities to grow top-line revenues – whether you’re trying to expand into new markets or extend a successful product line.Many great brands were launched during recessionary times and yet able to
capitalize on unique market opportunities.To invest in and seize market opportunities with confidence, you need a solution that helps you see trends and variances, analyze scenarios, and select the right combination of initiatives to maximize your returns.
Mistake 3: Allowing Operational Inefficiencies to Persist
To keep the cost of delivering goods and services in line, you must continually find ways to reduce waste
and eliminate inefficiencies.If operational wastefulness persists, you can lose control of your cost
structures – and that puts pressure on your gross margins. economic woes and restricted cash flows
are forcing companies to analyze cost structures by delving deeper into the information already at their fingertips.
Mistake 4: Letting Problems Go Undiagnosed and Uncorrected
In today’s business environment, an organization needs to address all outstanding issues – but you must
first identify and prioritize existing problems, then focus your time and energy on the most crucial. no organization wants to wait until a product is drastically behind schedule or a department significantly over budget before taking action. However, if you manually track project or program status, you risk not only wasting time and money on an ineffective approach but also delaying your ability to identify and then
correct problems.
Mistake 5: Driving the Wrong Behavior in the Organization
If your corporate goals aren’t clearly defined, communicated, and measured, you’re missing out on an opportunity to encourage beneficial behaviors. You may improve performance in one department or
division at the expense of overall company performance. Gartner suggests that organizations “show how
performance management efforts will benefit the enterprise if metrics and reporting align to corporate goals.
You need a solution that supports greater alignment, accountability, and performance at both the individual and the corporate level.s. But companies often find their strategic initiatives disconnected from daily operational goals, leaving employees confused about individual priorities. By clearly assigning accountability for goals and timelines, you can communicate explicit performance expectations throughout the company
and develop incentives that drive needed cultural and behavioral changes.
Mistake 6: Failing to Offer Transparency for Stakeholders
The global economic crisis is leading business stakeholders and governments to demand greater transparency into company finances, operations, decisions, and core performance metrics. However, many organizations find that overly complex reporting hampers their ability to demonstrate compliance or fiscal
health. According to Gartner analyst Bill Hostmann, “most organizations find they do not have the information, processes, and tools needed by their managers to make informed, responsive decisions. Too many enterprises underinvest in their information infrastructure.
Take the time to find out.
Mistake 1: Taking Existing Customers for Granted
When demand slows, the last thing you want to do is to take your customerbase for granted by assuming existing customers will remain loyal through tough economic times.Instead, customers may be faced with their own financial difficulties or could be lured away by incentives from the competition. Staying in tune with the needs of your customers and reacting appropriately can help shore up loyalty and maintain sales.
You need a simple and effective way to identify top customers based on profitability, size, or potential. But if
customer and sales data is located in multiple software applications, it could be difficult to access the information and build an overall picture needed for valuable insight into customer behaviors.
Mistake 2: Failing to Capitalize on Market Opportunities
Even with limited investment funds, you still have to make fact-based decisions about short- and long-term opportunities to grow top-line revenues – whether you’re trying to expand into new markets or extend a successful product line.Many great brands were launched during recessionary times and yet able to
capitalize on unique market opportunities.To invest in and seize market opportunities with confidence, you need a solution that helps you see trends and variances, analyze scenarios, and select the right combination of initiatives to maximize your returns.
Mistake 3: Allowing Operational Inefficiencies to Persist
To keep the cost of delivering goods and services in line, you must continually find ways to reduce waste
and eliminate inefficiencies.If operational wastefulness persists, you can lose control of your cost
structures – and that puts pressure on your gross margins. economic woes and restricted cash flows
are forcing companies to analyze cost structures by delving deeper into the information already at their fingertips.
Mistake 4: Letting Problems Go Undiagnosed and Uncorrected
In today’s business environment, an organization needs to address all outstanding issues – but you must
first identify and prioritize existing problems, then focus your time and energy on the most crucial. no organization wants to wait until a product is drastically behind schedule or a department significantly over budget before taking action. However, if you manually track project or program status, you risk not only wasting time and money on an ineffective approach but also delaying your ability to identify and then
correct problems.
Mistake 5: Driving the Wrong Behavior in the Organization
If your corporate goals aren’t clearly defined, communicated, and measured, you’re missing out on an opportunity to encourage beneficial behaviors. You may improve performance in one department or
division at the expense of overall company performance. Gartner suggests that organizations “show how
performance management efforts will benefit the enterprise if metrics and reporting align to corporate goals.
You need a solution that supports greater alignment, accountability, and performance at both the individual and the corporate level.s. But companies often find their strategic initiatives disconnected from daily operational goals, leaving employees confused about individual priorities. By clearly assigning accountability for goals and timelines, you can communicate explicit performance expectations throughout the company
and develop incentives that drive needed cultural and behavioral changes.
Mistake 6: Failing to Offer Transparency for Stakeholders
The global economic crisis is leading business stakeholders and governments to demand greater transparency into company finances, operations, decisions, and core performance metrics. However, many organizations find that overly complex reporting hampers their ability to demonstrate compliance or fiscal
health. According to Gartner analyst Bill Hostmann, “most organizations find they do not have the information, processes, and tools needed by their managers to make informed, responsive decisions. Too many enterprises underinvest in their information infrastructure.
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