As a Business Consultant, I am presenting the following analysis with a focus on organizations, in particular Startups and SME's, where it has been observed that several critical areas are lagging behind in most organizations resulting in failures or loss of revenues :
Here are some Critical Points for any Organization to grow revenues:
1. Organizational Culture (OC) :
Culture of any Organisation plays very important role in its success. Culture need to be open and transparent which allows all of its employees to play on thier strengths. This becomes more critical when any Organisation is in its transitional phase.
2. Information Flow :
Information should flow from bottom to Top when it's about packaging, pricing, placement of products and Competition activities and at the same time the decision making and strategies should flow from Top to Bottom with transparent and open system.
3. Team Skill Sharpening :
Startups as well as SME's need to sharpen their Employee's skills on regular basis while using advanced technologies and professionals to keep themselves ahead of competition.
4. Technology Integration :
Using updated technology and tools with proper training of team on it is critical aspect for any organisation which enables them to understand the current business flow and take necessary actionable.
5. Data Analysis :
Regarding data analytics, it has been observed that many organizations rely solely on market sentiments and a few trusted employees. However, organizations should base their decisions on data and reports to make informed and bold choices.
6. Bold Decision Making:
Organizations need to take bold decisions when it comes to performance and progress. All employees are not assets but only performer's are assets for any Organisation.
7. Product Mix :
Organizations typically have one or two top-line SKUs along with slower-moving products. It is imperative for organizations to focus on their strengths and channel their energy into the right product mix to offer to their customers.
8. Distribution Corrections :
A well-structured distribution system is crucial for the success of any organization. The distribution management system should be robust, covering a wide operational area with comprehensive product penetration.
9. Systems and Policies :
Organization's system's should be updated and should contribute in progress. No Organization can get succeed in absence of robust systems and strong policies.
I am sure, these insights would help Organizations to get back on track to achieve their bottom line goals.
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