Value creation largely depends on the success in business strategies. The real value of goods demands focus, discipline and execution in all the attempts made by the management. A proper balance between people's aspirations and businesses' demands could be attained with the implementation of a corporate governance strategy that gives priority to the human element in the organization. In today's challenging world, global marketing enterprises have to evolve with innovative strategies aimed at staking their claim in the increased pool of profits which have resulted from the opening of new markets. This is also meant for bringing value to the contributions of the shareholders, customers and employees of the company. This innovation may take place in areas like product, process and governance, not only to increase competitiveness and business performance, but also to promote employee welfare.
The impact of a people-oriented strategy in creating value for the business is more visible in the light of transformation of the HR functions to have an increased involvement and contribution in shaping corporate strategies. Mike Lewis, the head of strategic human resources at the Allied Irish Bank (AIB), drawing on his own line of management and consultancy experience, repositioned HR to add value to the business.
The uncertain economic fortunes, demand for higher returns on investment, and rising pressures on enterprise-wide operating budgets have created a new challenge for the "supply-chain management," and maintaining excellence in it is found to be critical for business success in the recent times. |
