The Power of Vision.

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The Power of Vision is what serves several purposes in an organisation. First and foremost, it captures the organisations future intent. In other words, it paints a picture of what the company intends to become, not what it is today.https://www.mjfgroup.biz/dailyquotes/howyoudefine the problem

This topic has been written about by Authors, Songwriters and Preachers so it is not new.

  1. The Power of Vision by Joel Barker – Star Thrower Distribution.
  2.   Myles Munroe: ‘The Power of Vision’
  3.   The Power Of A Vision – Jesus Culture,
  4. Power of a Vision | Leaders Living Life Fully – Eternal Leadership
  5. The Power of Vision | A Sermon | Pastor Taiwo Kayode — House On …

A Common red line through just the few I have highlighted here.

A vision should stand the test of time and perpetuate the enterprise over a long period of time. A vision can serve a multiple of purposes:

  1. A vision bonds. Companies are populated with individuals possessing a diversity of skills, languages, cultures and personalities. A vision can give people a common cause and direct their energies towards a unifying goal.
  2. A vision inspires. Although corporations measure their progress over time with numbers – growth, profits, or both- numbers do not generally inspire ordinary people to do extraordinary things. But, a more noble vision and strategy can inspire beyond one’s expectations.
  3. A vision is an anchor. When times are difficult, a vision gives an organisation an anchor that will steady the ship and hold everyone together until the storm passes.
  4. A vision is a potent competitive tool. Having a sense of what one wants to become when grown up gives the organisation an enormous competitive edge and advantage over those that as my daughter says ‘haven’t got a clue’.

The Power of Vision.

Required attributes of a successful vision.

A vision

  1. Will mobilise a large population of people who might not have any other attachment to the organisation than that it is their job and source of income,
  2. Must have certain attributes in order to get ordinary people to do extraordinary things.
  3. A power of a vision must be clear. The vision cannot be ambiguous. Most people in an organisation do not want to be leaders – they simply want to be good followers. As such, what they want to know from their leaders is: “Where are you taking me so I can decide whether I want to follow you there?” As a result, the leader must design a clear vision that can quickly and clearly be understood by all employees.
  4. A power of a vision must be compelling. A goal of becoming a Billion-Rand company will not motivate ordinary people to do extraordinary things. Numbers are usually not compelling enough to mobilize large groups of people to want to achieve beyond their capabilities. In order to motivate people to overachieve, the vision must ‘compel’ people to want to overachieve voluntarily. Thus the reason for Steve Jobs attracting John Scully to join Apple, even though he gave up a very lucrative job with Pepsi – not with promises of a large financial incentive, but rather with the “opportunity to change the world”. What foresight Steve Jobs exhibited in those days back in 1971. That is exactly what the PC industry, led partially by Jobs and Apple, has done.
  5. A power of a vision must be distinctive. Not many people want to work for an imitator, where every transaction the company engages in turns out to be based strictly on price. That is not a fun world! The best companies have a distinctive vision that does not attempt to imitate their competitors but sets them apart from these competitors. Like the super racehorse Secretariat, their notion of competition is not run side by side with their competitors but, rather lead the next best competitor by 31 lengths, pulling farther and farther ahead of each business cycle. As Samuel Johnson once said, “No man has achieved greatness by imitating another man.”
  6. A power of a vision must be consistent. A vision that is constantly being adjusted is usually not going to impress anyone, PARTICULARLY YOUR OWN TROOPS. Visions that are forever changing reflect the lack of forward thinking and will become the butt of everyone’s corporate joke – the proverbial “vision of the week.”

The Power of Vision.

http:///www.mjfgroup.biz/thepowerofavisionA personal perspective of what  constitutes a Vision and it’s elements. By Dr Michael J Freestone.

Next Blog My method in – Writing a Powerful Vision Statement.

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Change Management and Growth

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Change Management and Growth is depicted in the iceberg of Wilfred Kruger, which is, arguably, the best written document capturing the essence of change.

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Change Management and Growth

Change management and Growth involve a number of concepts including those of Andrew Pettigrew and Richard Whip.

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Wikipedia has this to Say.

Change management (sometimes abbreviated as CM) is a collective term for all approaches to preparing and supporting individualsteams, and organizations in making organizational change. It includes methods that redirect or redefine the use of resources, business process, budget allocations, or other modes of operation that significantly change a company or organization. Organizational change management (OCM) considers the full organization and what needs to change,[1] while change management may be used solely to refer to how people and teams are affected by such organizational transition. It deals with many different disciplines, from behavioral and social sciences to information technology and business solutions.[2]

In a project-management context, the term “change management” may be used as an alternative to change control processes wherein changes to the scope of a project are formally introduced and approved.[3][4]

Change management is faced with the fundamental difficulties of integration and navigation, and human factors.

Integration[edit]

Traditionally, organizational development (OD) departments overlooked the role of infrastructure and the possibility of carrying out change through technology. Now, managers almost exclusively focus on the structural and technical components of change.[citation needed] Alignment and integration between strategic, social, and technical components requires collaboration between people with different skill-sets.

Navigation[edit]

Managing change over time, referred to as navigation, requires continuous adaptation.[citation needed] It requires managing projects over time against a changing context, from inter-organizational factors to marketplace volatility. It also requires a balance in bureaucratic organizations between top-down and bottom-up management, ensuring employee empowerment and flexibility.

Human factors[edit]

One of the major factors which hinders the change management process is people’s natural tendency for inertia. Just as in Newton’s first law of motion, people are resistant to change in organisations because it can be uncomfortable. The notion of doing things this way, because ‘this is the way we have always done them’, can be particularly hard to overcome.[22] Furthermore, in cases where a company has seen declining fortunes, for a manager or executive to view themselves as a key part of the problem can be very humbling. This issue can be exacerbated in countries where “saving face” plays a large role in inter-personal relations.

To assist with this, a number of models have been developed which help identify their readiness for change and then to recommend the steps through which they could move. A common example is ADKAR, an acronym that stands for awareness, desire, knowledge, ability, and reinforcement. Whichever is the first level that does not apply to an individual, team, or organization is the first step to complete in helping them change.[23]

The Greiner Curve.

The Growth Phase model of Larry Greiner suggests that organisations go through between 5 and 6 phases of growth and need appropriate strategies and structures to cope,

Creativity, Direction, Delegation, Coordination and Monitoring, Collaboration and the recently added 6th being Extra Organisational Solutions.

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With thanks for the articles to 12manage.  An exllent source of business information. Join them today. MANAGER? Discover 12manage.com. Summaries of management methods and models. Network and discuss with peers. Register a membership. It’s free!

Contact us.

 If you are looking for real growth and managed change then contact us.

We provide companies with a profitable sales plan that can be as high as 179% n a single year. Join our Xtreme Business Program today.

Or send us an email asking for an appointment how our change management can take your business to new heights.

 

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IN THE NEWS

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IN THE NEWS

SAY OF THE DAY

“All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson 

 

https://www.mjfgroup.biz/intenews/5 Ways to Start a Business Part-Time While Holding a Day Job Full-Time.


5 Ways to Start a Business Part-Time While Holding a Day Job Full-TimeYou know you want to start a business, but you can’t shake those financial pressures – rent or a mortgage, a car payment and maybe you have kids. Even young people have responsibilities after all. But tack on the fact your business idea will surely take time to catch on, and starting up can seem even further out of reach.

You are a perfect candidate to become a part-time entrepreneur. While not ideal for every young trep – jumping head first into the start-up pool can be a preferred route – getting the business up and running before letting go of a regular paycheck may be the best course. Here are six ways to make the transition into entrepreneurship a smooth one:

1. Find balance.

Of course, this is what being a part-time entrepreneur is all about. Can you start up and maintain your commitment to your full-time responsibilities? If you get caught up in your business to the point that your full-time job suffers, people will notice and it will cost you opportunities and, potentially, the job itself.

https://www.mjfgroup.biz/inthenewsIN THE NEWS

2. Be patient.

As a part-time entrepreneur, you simply can’t move forward with your new business at the same pace as those who can work on theirs full-time. And even full-time entrepreneurs never have enough hours in the day. Find the right pace for you so you can see progress without completely wearing yourself out. Be patient; you may not be moving as fast as you would like, but forward is good.

3. Bank your profits.

At some point, you will want to walk away from your job and be a full-time entrepreneur. The money you save now will enable you to take that step sooner. If you don’t need it to grow the business, then save it for your future, but be prepared to put it back into your new business as needed.

https://www.mjfgroup.biz/inthenews/goalsetting4. Set flexible goals.

As you build your business, you may find your day job getting in the way of your entrepreneurial goals. That’s okay. It’s what being a part-time entrepreneur is about. Watch out for a tendency to beat yourself up for spending too much time on your job at the expense of your business. Your energies will need to shift from one to the other as time goes on, and that’s okay.

 

 

 

 

 

5. Have an escape plan.

https://www.mjfgroup.biz/inthenews/escapeplanDo you want to be a part-time entrepreneur forever? That’s actually alright. Operating as a part-time entrepreneur may not have been your original plan, but if your business can succeed in your off hours and you enjoy your full-time job, why not?

However, if your entrepreneurial plans include running your dream business full time, you need to define milestones and set goals that include walking away from your day job. What needs to be in place in terms of infrastructure, sales, product development or other criteria before you will be ready to quit?

 

 https://www.mjfgroup.biz/inthenews/businesstemplates

  Starting a business? Download startup guides to help you get started today.

We have a full set of downloadguides and templates:
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Financial
MCExample_SalesForecast
3.4.2 Cash balance schedule
3.4.5 Stock schedule
3.3 Income statement – actual versus budget
3.4.1 The balance sheet
cashflow-breakeven
Operations
4.2.1 Determining the best route to market
4.1.2 Terms and conditions of credit agreement
4.1.3 Credit approval letter
4.1.9 Overdue account reminder letter 1
Marketing
Marketing Plan Template
Sample Marketing Plan
25marketingcampaigns
2.1 Market research questionnaire
2.4 Advertising – what to check before your ad goes out
ExampleCustomerProductCompanySurvey

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If you are interested in the busines template pack above send me a contact form. I will send you an Invoice for R50.00/£4.00 with Banking dtails for an EFT.  Once funds received the pack, plus more will be sent.

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Different Types of Business Strategies

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Different Types of Business Strategies are available to any startup or a business.

Basic Approach to Strategic Planning

A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition. Some essential points which should to be observed during the review and planning process include the following:

  • Relate to the medium term i.e. 2/4 years
  • Be undertaken by owners/directors
  • Focus on matters of strategic importance
  • Be separated from day-to-day work
  • Be realistic, detached and critical
  • Distinguish between cause and effect
  • Be reviewed periodically
  • Be written down.

As the precursor to developing a strategic plan, it is desirable to clearly identify the current status, objectives and strategies of an existing business or the latest thinking in respect of a new venture. Correctly defined, these can be used as the basis for a critical examination to probe existing or perceived Strengths, Weaknesses, Threats and Opportunities. This then leads to strategy development covering the following issues discussed in more detail below:

  • Vision
  • Mission
  • Values
  • Objectives
  • Strategies
  • Goals
  • Programs

Strategic statements can be defined as broad indicators of the direction(s) in which a business should be driven in order to fulfil its vision/mission while taking realistic account of its resources, constraints and opportunities.

In the case of a start-up venture, organic and quantum approaches translate into soft or hard start-up strategies. An example of a soft start would be a software company which evolves from a part-time business into full-time service provider and then progresses into software products (classic “back room” start). Another example, would be an engineering company which starts in a shed and gradually moves into a proper premises (“garage” start).

Soft start strategies can be very effective as they allow entrepreneurs to learn the trade (and make mistakes) without incurring major, irrevocable (and maybe premature) commitments. Hard starts are obligatory where substantial investments (in R&D, market or assets) or resources (technology, manpower etc.) are needed from the outset. It may be possible to soften a hard start by renting (rather than buying) premises; leasing equipment (instead of purchasing); acquiring a franchise (in lieu of developing a new brand, systems etc.); entering into a joint venture; or subcontracting manufacturing, distribution, accountancy services and so on.

Before deciding on what type of strategy to adopt you will need to have the following statements if you are an existing company or you will need to work through what is posted here before you decide.

Different Types of Business Strategies

Note Well.

The preparation of a strategic plan is a multi-step process covering vision, mission, objectives, values, strategies, goals and programs you need to initiate to complete the strategy decide upon.

Vision.

 

 

Mission.

The nature of a business is often expressed in terms of its Mission which indicates the purposes of the business, for example, “to design, develop, manufacture and market specific product lines for sale on the basis of certain features to meet the identified needs of specified customer groups via certain distribution channels in particular geographic areas”. A statement along these lines indicates what the business is about and is infinitely clearer than saying, for instance, “we’re in electronics” or worse still, “we are in business to make money” (assuming that the business is not a mint !)

Peter Drucker says “Mission: Why you do what you do; the
organization’s reason for being, its
purpose. Says what, in the end, you want
to be remembered”

There are many tools that you can use to define your strategic position in your market,and what sort of strategy you should adopt.

One of them is the GE matrix. The GE matrix helps a strategic business unit evaluate its overall strength. Each product, brand, service, or potential product is mapped in this industry attractiveness/business strength space. The GE multi factoral was first developed by Mckinsey for General Electric in the 1970s.In order to use the GE Matrix you need to understand the market you are in and you must have a very good grasp of strategy.

I have modified the GE And the GE McKinsey graph as seen below.

I addition to giving you two points on a square block i have added what type of strategy best fits each quadrant. This has been developed by me over 3 decades of in company research, as Africa Director responsible for growth and development. The Group I worked for was massive as it had more than 136 companies in its stable.

You are asked to identify percentages in a range of questions and give an indication of your strategic ability.

When Completed you will get a Graph as shown here. Careful consideration is needed when compiling the answers.

https://www.mjfgroup.biz/gematrixamendedbymjfgroup

Click on this link to download the Free excel spreadsheet, which I modified to give You a better picture of what strategy you should follow. A Resulting graphic display will clearly tell you in which quadrant that you can

Different Types of Business Strategies.

Growth Strategy
Any growth strategy entails introducing new products or adding new features to existing products.

Sometimes, a small company may be forced to modify or increase its product line to keep up with competitors. Otherwise, customers may start using the new technology of a competitive company.

For example, cell phone companies are constantly adding new features or discovering new technology. Cell phone companies that do not keep up with consumer demand will not stay in business very long.

A small company may also adopt a growth strategy by finding a new market for its products. Sometimes, companies find new markets for their products by accident. For example, a small consumer soap manufacturer may discover through marketing research that industrial workers like its products. Hence, in addition to selling soap in retail stores, the company could package the soap in larger containers for factory and plant workers.

Product Differentiation Strategy
Small companies will often use a product differentiation strategy when they have a competitive advantage, such as superior quality or service. For example, a small manufacturer or air purifiers may set themselves apart from competitors with their superior engineering design. Obviously, companies use a product differentiation strategy to set themselves apart from key competitors. However, a product differentiation strategy can also help a company build brand loyalty, according to the article “Porter’s Generic Strategies” at QuickMBA.com.

Different Types of Business Strategies

Price-Skimming Strategy
A price-skimming strategy involves charging high prices for a product, particularly during the introductory phase. A small company will use a price-skimming strategy to quickly recover its production and advertising costs. However, there must be something special about the product for consumers to pay the exorbitant price. An example would be the introduction of a new technology. A small company may be the first to introduce a new type of solar panel. Because the company is the only one selling the product, customers that really want the solar panels may pay the higher price. One disadvantage of a price-skimming is that it tends to attract competition relatively quickly, according to the Small Business Administration. Enterprising individuals may see the profits the company is reaping and produce their own products, provided they have the technological know-how.

Acquisition Strategy
A small company with extra capital may use an acquisition strategy to gain a competitive advantage. An acquisition strategy entails purchasing another company, or one or more product lines of that company. For example, a small grocery retailer on the east coast may purchase a comparable grocery chain in the Midwest to expand its operations.

Please contact us so we an assist you with a complete strategy and corresponding tactics needed to achieve your strategy chosen.

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Business Improvement

Dear CEO/Managing Director, Executive Director we are creating this post to tell you that Business Improvement is at hand

Does your business suffer from:https"//www.mjfroup.biz/

  • declining market share,
  • no marketing strategy,
  • no sales plan or controls in place
  • slow manufacturing
  • the worst on time in full ratio in the industry
  • rising cost of sales due to poor procurement processes
  • inappropriate processes,
  • poorly trained staff,
  • sales slumping
  • inventory climbing
  • more and more obsolete inventory
  • poor accounting
  • not up to date with SARS requirements
  • no cash flow control
  • a horde of dissatisfied customers, and on and on and on.

Business Improvement

You have so many issues to attend to, your staff are all ‘so busy” they cant support you and if they had time would not be as competent as you would like them to be in order to support you.

In order to fix the problems mentioned above, we have our program called The Business Support for the CEO.

Our New Year is underway so don’t let your business become a tragedy.

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