Securing the future today

FAILURE to implement ideas could make the difference between business success and business failure.

Research shows those businesses that are performing well are generally those that are proactive about adopting change where it is beneficial for their business.

Being able to assess how both internal and external trends will affect the business seems to be the key to running a proactive business.

University of WA Graduate School of Management senior lecturer Tim Mazzarol said failing to implement ideas was one of the biggest problems facing business.

“They know the problems facing their business but don’t do anything about them,” he said.

“These businesses need to create an ‘action’ culture. This means the owner needs to spend more time thinking about the business and getting the key staff involved.

“They can create an ‘e’ or entrepreneurial team to come up with ideas and find ways to put them into practise.

“If the culture is bogged down in nano-management the owner is not going to realise there is a need to make big changes.

“A lot of owners get so busy because they don’t delegate to their teams.

“One of the things you need to build is a culture of change in the organisation. Owners and employees can get stuck in their ways.

“Is there a fear of failure within the organisation? They need to realise failure is part of doing new and innovative things. It’s okay to fail a couple of times as long as you learn from it.”

According to the Australian Institute of Management, change is a process that needs to be separated from managing the organisation after it has been changed.

But it teaches that executives wanting to change their organisation for tomorrow need to ensure the organisation’s future is secure for today.

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