The highly potent workforce performs not only the function of product generation but also that of value creation for all stakeholders. Just like any asset that needs to be serviced and overhauled to give better service, the human capital also needs to be trained and empowered to churn out its best through an appropriate business strategy in the function of value creation.
Business units are, after all, "of the people, by the people and for the people". One team of people sits at the helm and leads; another team of people turns out the products; and the third team of people uses or consumes the products. It is not, therefore, difficult to see that the entire success of any business organization depends on the people at the helm and in the forefront, or to be more precise, on the capabilities of these people to maintain consumption or sale at the optimum level. The primary goal of any business establishment is profitability, which in other words means, creation of value for the stakeholders of the organization, namely the investors or shareholders, the employees and the customers. The shareholders invest their resources and the employees invest their services, time, energy and intellect, while the consumers rely on the product quality for their satisfaction.
Business strategy is a well thought out action plan for achieving the targeted business performance, duly moulded by all possible considerations of environmental factors and market realities. The strategy also includes the remedial prescriptions to meet any unforeseen challenges that may crop up on the way to the target. |
