Mastering People Strategy: Five Steps to Propelling Your Business Forward
2/11/23
In my co-author 2018 Contemporary Issues in Strategic Management book p8, my colleague and I engaged in a discourse regarding corporate leaders peering through the fog of uncertainty. Then, think about how to position themselves once the crisis has passed and things return to normal.
Now is undoubtedly a case of déjà vu, as organisations are coming to terms with the disruptive forces reshaping their markets and striving to find their footing in an ever-changing and competitive marketplace.
We also highlighted the usefulness of old-fashioned business values by saying:
“the “new normal” represents a return to old-fashioned business values of using leverage judiciously, watching cash flow rigorously, investing in people and systems, and keeping an eye out for growth. Adjusting to the “new normal” is about managing people better” p8.
Fast forward to today, and the essence of our message remains unchanged. Finding ways to lead and manage your people assets innovatively has been a consistent thread in my previous four newsletters, and it's something we cannot emphasise enough. In today’s dynamic world, the success of any organisation largely depends on its ability to adapt and thrive, which makes an influential people's strategy more crucial than ever.
Leadership today is more than giving orders. In the rest of this article, I will briefly outline five roadblocks we have consistently encountered when working and delivering workshops with organisations and with more than two decades of work with our MBA students.
Conclusion: A people strategy that works
Remember, a well-executed people strategy is not a one-time initiative; it's an ongoing commitment to the success and well-being of your people. In a constantly evolving world, investing in your workforce is the surest path to achieving sustainable success and driving your firm forward, even in challenging circumstances.
ENDS