"The Human Side of Business - Digitalization in a box"
Reflections and insights on the human element in business.
You need to consider issues such as what trends are affecting your company’s markets, how your company’s strategy should evolve and what new technologies or initiatives your organization should adopt. These are unquestionably important — and a critical part of your job.
But when it comes to the execution of big-picture ideas, so much of business comes down to people — and how they work together, both within organizations and in partnerships between organizations.*
The fundamental objective of any business is to earn revenue. However, Business is NOT about making money. Technically no business can ‘make’ money. Making money is the responsibility of the government mint! Businesses, or organisations, can only ‘create’ money.
Creation of money simply means to channelize the money that exists in the market into the organisation system. Anything and everything that ensures an uninterrupted flow in this channel may be considered ‘doing business’. In fact, the efficiency of the business is directly proportional to the flow of money into the system. The more seamless the flow is, the more efficient is the business.
The flow of money, or revenue, is dependent on transactions. A give and take. Give something in return for its money value. This ‘Give’ can be either a product or a service or both. There is, however, a caveat.**
Business is not about a ‘give and take’. Business is more to do about human perception towards the ‘given and take’.
Money is a creation of mankind. It has an unnatural existence on this planet, hence is governed more by the forces of the human system than laws of nature.
If money is the key for a business and money is a creation of human beings, then logically: Business is not about money, but more about the Human Being. It isn’t really about focusing on the channel which generates the money in the business. It is more to do with the channel(s) that are governed by human influences. Businesses, therefore, to thrive need to be sensitive to the ‘human factor’ at all times.
The world today is bombarded with technological innovation. Innovation fulfils instant gratification. Not only does a person want a choice in ‘what’ to consume, but he also exercises a choice in the ‘why’, ‘how’ and ‘where’ of the consumption. Businesses today can no longer enjoy the luxury of creating its own strategy on the might of its product or services. The product or service isn’t the locus anymore, the ‘human element’ associated in each of its business processes is.
Companies that failed to keep this in mind, failing to continuously monitor the ‘pulse’ of the human element, have perished. Markets of today are seamless and heavily influenced by the flow of information and human perception. Businesses, therefore, cannot be reactive. They cannot afford to be static either since human consumption patterns are not stable and enduring. What if the need of the hour is to adapt and respond? Adapt to the fast-changing consumption landscape and respond to environmental realities. Both these are dependent on the ability to be quick and flexible. Hence, businesses have to implement respective positive behavior elements. Imbibe the agility of quickly responding and adapting to its internal and external work environments.
A systemic transformation to Organizational Behavior is one such opportunity that is available for businesses (irrespective of size or nature) to not only survive but also prosper in the market. Organizational Behavior is one such methodology that encapsulates the essence of Agile fundamentals with sound business practices.**
Organizational Behavior procedures, therefore, deliver the ability of an enterprise to operate efficiently in an environment of chaos and disruption. This ability is not confined to management alone. It has to permeate into four fundamental dimensions that exist in the organisation.
1. Individual. 2. Team. 3. Supervisor. 4. Values and Norms.
All actions directed in meeting the emergent requirements of these four dimensions in business is the scope in which Organizational Behavior is pitched at.
How we analyze and strategize on achieving strong organizations in each level of the business is the essence of the talk. At PREDICTA|ME, we approach this topic from an diagnostical perspective - fascilitating understanding, so that effective methodology can be implemented in order to drive business outcomes. Get in touch if you want to benefit.
*adapted by Martha Mangelsdorf. MIT Sloan Management review.
**adapted. Agile, Agile Marketing, Agile Transformation, Consulting by Col. Ranjeev K. Babu