What steps were followed by successful organisations and created values for themselves
Framing a clear Vision and Mission statement and then create values for the firm
This is normally decided by the promoter or the first person who has conceived the idea of starting this business/venture, he describes what he really want to do with this newborn company, whether this company exists for earning profits or doing service to the society in true sense. (both cannot be done with the same company)
The Vision – is the dream of the organization, which tells why it exists and what it really wants to perform. A Vision is a clear, comprehensive photograph of a company at some point of time in the future. It provides direction because it describes what the organization needs to be like, to be successful within the future
The Mission is a concise statement of business strategy developed from the customers perspective and it should be aligned with the company’s vision, it should answer three key questions –
What is that we do?
How we do it?
For whom we are doing it?
Building the required Infrastructure
Next would be the infrastructure that is required for the implementation of the same – with the latest state of art technology, having provisions for accommodating anything and everything even at a later point of time
Selecting the Right set of people for running the show.
The next step would be recruiting people for the implementation of the dream project. The market is full of people with various skillsets, having good experience in the job, certifications, updations and what not, but the visionary companies looks for people with basic knowledge in the job and beyond that they try to look for other qualities like how do they mingle with their peers because success is not one mans show, it’s a team work and when all of them work together, success is not a nightmare, but It’s a Sureshot.
How do customers view this venture
When the customers enter the organization, they are not compelled, but displayed about what is that they intend to do, (short term goals and long term goals) and portray about their benefits if they are part of the family, they are all satisfied in all aspects displayed by the organization as all the employees speak in one tone as they are all a family, aware of their responsibilities and in treating the customers to their best satisfaction.
Now a satisfied customer would spread the information to his near and dear ones and by word of mouth it travels a lot. This makes the future customers to make a try and confirm it, and the relationship continues
Internally how things are handled
Failures of companies do happen because of the people in it. When their priority changes, their status changes, people are not able to handle things appropriately. The ego status of employees, change in attitude, not co-operating with the peers etc., This has to be checked by the leader and take appropriate measures to bring people under amicable environment
Morever the management should give enough space to the newcomers to understand the culture of the company, Understand and feel the vision and mission of the organization and then gradually become part of the big family and contribute for the growth of the organization.
Mistakes do happen, the employees should be given a supporting hand by the management, but never treated badly. (The understanding is he doesn’t know what is right, hence committed a mistake, and the travel is long where things can be set right)
Here the growth happens for the organization at the first level and later the employee at the next level and thirdly the other stakeholders who are part of this organisation.
Role of Leaders
For steering the whole setup, there should be a leader in true sense, who is highly practical, flexible and is ready to accept the situation, and prompt for next line of action to cover the mishap and see that deviations are set right (by involving the stakeholders)(Here the cover up decisions are also made by the team of employees)
Hence success of an organization depends upon the management , the leader/the CEO or the steering head of the group and the whole team of employees as a group performance.
Requisites for success are :
- A clear vision – which every stakeholder understands in the same sense
- A good management
- A good Leader
- A team of employees
People may come and go, but the vision has to be carried in true sense for ever by the people who are attached to it.
Any change anywhere, the flexibility mechanism has to be applied and pass on the information about their responsibility they carry with them and to what extent the company relies on their services having understood the Vision and Mission of the Organisation.
This is how in the long journey of the organization it creates value of itself and the stakeholders.