Nowadays, there are many distractions within the business environment. I am sure you will agree that, the things designed to side-track and cause us to lose focus on what is most important, seem to be more prevalent now than ever before. The business closures, social unrest, the unending Covid 19 issues and unsettled employees are enough to blur our focus. Be that as it may, despite all that is going on currently, managers you must remember that you are in the business of doing business, hence, now more that ever you have to keep your eyes on the prize.
It is interesting how there always seems to be something competing for your attention and energy and without fail the thing that thrives is the one that wins the competition.
For this reason the more distracting the environment becomes, the more one needs to keep focus.
The time is ripe to re-examine the goals of the establishment; prioritise and prudently allocate the available resources. Bear in mind, that nine months of the year has almost gone and irrespective of the corporate challenges to date, filing the year 2021 in the redo folder is not an option. In fact, your performance in this year would significantly impact whether your business will live to fight in 2022.
Consequently, there are a number of ways in which you can maintain corporate focus during these challenging times.
First, revisit your operating plans; ensure that those which have not yet been achieved are clear and detailed. This will keep goals in perspective and will be useful to measure overall and departmental progress. Second, having gone so far into the year, you have the benefit of knowing how the corporation has performed so far and hence you are better equipped to set realistic goals moving forward regarding revenue and profit. Third, keep a keen eye on your gross profit margin, the continuous fall in consumer spending and the increase in import duties have left you no choice but to ensure that the prices of your products and services are at optimal level.
Amidst all that is going on around us, research has shown that corporations which remain focused and goal oriented are more likely to succeed that those that do not. Therefore, it is of paramount importance that you keep focus in order to optimise on opportunities and reduce threats as they arise.
Dr. Wendyann Richardson is a Management Consultant who specializes in corporate governance, business operations management and refining of skills through training.
She can be reached at [email protected] gmail.com