The IronMan Business Model and Endurance Approach
As the Iron Man Triathlon comes to town, I was wondering why did they originally chose cycling, swimming and the marathon as the “portfolio of the game.”
Are they the most appropriate sports to be used as a sign of excellence, endurance and worldwide performance?
I am not here to discuss the sport side of things but I was trying to use the same principals to our daily professional lives and business challenges.
So here comes the question ……….
If you had to choose three areas of action (or strategies) to improve a business as a whole what would that be ?
Like the IronMan, lets not think about a short term solutions because after all, this is about an endurance effort to become a class leader or benchmark.
I would give you my shot at it ………… (not in order of importance)
1) Operation performance (product quality, improve efficiencies, reduce waste, improve customer satisfaction, inventory management, lead times, etc)
2) Sales and marketing (Define the appropriate target market and position the products and sales efforts accordingly)
3) Corporate social responsibility (Define and implement short and long term objectives towards employees, community and environment)
Thanks again for your input, time and consideration
All the best
Edison Reis
QAM - Quality Assurance Management
www.QualityAssuranceManagement.com
Tags: business challenges, corporate social responsibility, Customer Satisfaction, iron man triathlon, operation performance, quality assurance management
January 16th, 2009 at 6:30 pm
Existing businesses can be most improved by implementing these actions and strategies and principles for long-term results. I’ve experienced this myself and have seen these strategies and actions work with my consulting clients.
1. Provide real, sustainable value in products and services to clients/customers…Value that the clients/customers want, not what the Company may assume they want. People are looking for real value, which they perceive they aren’t getting in too many cases.
2. Overdeliver to the customer and over-serve them. Example: Give more service then they expect, acknowledge and appreciate your customers. This will build long-term trust, credibility, loyalty and more future sales.
3. Owners/management must be passionate about their product(s) and services. When someone is passionate, they truly enjoy what they are doing. That makes them willing to do whatever it takes when challenges and issues arise, and they will.
These 3 strategies are also critical, basic, foundational to start-up organizations as they develop their business plan and begin their business.
Barbara Filla
Entrepreneur, Business Strategist and Coach
blog: http://www.netwebmarketer.com/barbarafilla/wordpress
Articles/Bio/More: http://www.netwebmarketer.com/barbarafilla
SingYourSong@ GetTimeMoney.com
January 16th, 2009 at 6:31 pm
Great question!
I would take the horizontal approach.
I would focus on these FOUR things (apologies:
IRONMAN+1= SWIM, CYCLE, RUN, MULTIPLICATION TABLES or ESSAY-WRITING) from the HIRING, DEVELOPING, RECOGNIZING/REWARDING, PROMOTING, FIRING perspective…holistic to the entire organization in EVERY job, west-to-east and thusly south-to-north:
+SENSE of URGENCY
+COMMUNICATION
+INDIVIDUAL CONTRIBUTION
+ACCOUNTABILITY
Lots of sub-headings under these, but these are absolutely critical to good order and productivity anywhere.
Thanks,
Boom
January 16th, 2009 at 6:32 pm
I will assume we are talking to an individual who want to prepare him or herself for the position of CEO. Obviously big corporations have different demands than small non-profits, so the answer will differ depending on the environment in which the stage is set.
1) PEOPLE SKILLS as they relate to SALES. The ability to talk to people, understand them, (empathy) and help solve their problems. Relationship building is key. A CEO who has come up through sales is best suited for moving sales forward for his company (which is never bad).
2) VISION, the ability to captivate others and help them believe in a shared vision. This is to be a true leader. It involves EQ skills and using them to understand that each person is different and how we can all find common ground and a common direction.
3) FINANCE. A CEO needs to understand the numbers in detail. This does not mean that he needs an accounting degree; it means that he needs to know the importance of things the Accountants are telling him. A professor of mine once told me that the best job in the world is that of a tax accountant for a large corporation because you can make a mistake that can cost millions of dollars and no one else will know because the area is so complicated on one else understands it! A CEO need to be able to understand as much as possible about the money.
There is so much more, do I have to stop at 3?
Steve
January 16th, 2009 at 6:35 pm
3? Just 3? I’ll take a shot. If I need to fit it into three containers I would need to be somewhat general…
1. Market – First you need a need; then you need a customer value proposition to satisfy the market’s need.
2. Strategy – The plan to achieve goals of fulfilling the need with a clear path to profitability. A good execution strategy includes all the tactics.
3. Execution - Operational Performance streamlining the efficiency of key resources and key processes. Lean production from customer needs through all value processes…
“Making the right choices and ensuring their efficient execution have always been key elements of success” ~ David Allen
Jim Conlow
January 16th, 2009 at 6:36 pm
I would go for:
1) Corporate Culture and put clients and sustainability there as a top values.
2) Innovation, which is also a culture thing: acceptance and desire for change and improvement - innovation in the way we work and bring new products and services to the market.
3) Lean / Operational Efficiency
Best regards, Pekka
January 16th, 2009 at 6:37 pm
Hi Edison
My first, rather feminist thought was why “Ironman”, another male orientated herculean task..
But I do like the essence of it - But what about Customers. Standing in their shoes first.
There are heros (male and female) inside and outside.
I would point to CSR first - redefining organisations by the way they serve the community. Ask any Joe Public how they feel about Woolies, and you will see the impact of not attending to CSR, combined with lack of attendtion to effective grass roots marketing, and perhaps poor operational management.
I remember way back a revolutionary and rather famous book about how consumers impact big companies - what was it called? Something about market turning…Can anyone remember the title?
Geraldine
http://culturechangeagents.ning.com/
January 16th, 2009 at 6:38 pm
Hi Edison,
This really made me think.
For long term success:
1 get a strategy & vision that the company can buy into and achieve.
2 build a con do culture
3 build an effective sales and marketing machine
Ask me on another day and you might get a different three,
Regards
Laurence
January 16th, 2009 at 6:39 pm
I concur with the previous thoughts and would like to add another viewpoint:
1. Sales Forecast should drive the operating budget for resource management
2. Customer Service level should be defined and the resources allocated to fill the orders by pull scheduling
3. Business Process Development and re-engineering should continually implement and improve the process conducting the company’s business and identify IT requirements to support the business practices
Robert Gotsch
January 19th, 2009 at 2:03 pm
1. Mission alignment (& to my mind, that would include CSR)
2. Values alignment (which would include CSR, open, honest communication, and involving “all relevant & effected parties)
3. Cross-functional teams
4. Intense customer focus
Robin Cook