Excel in Your Business

The miniature guide to driving your business to success OR P3Os, ITSM, PRINCE2, COBIT2019, and all those Jigsaw pieces in-between.?

What is your Business?

Always I ask the other party to describe their Business before any further discussion takes place. And always the answers come standardized, in the form “We do this .. we do that”. If you find yourself answering the same way, then please do write down the following phrase “We are an (I) & (T) Enterprise specialized in …….”. Post it somewhere where you may see to remember reading and thinking about it. Let it be your refrigerator, bathroom mirror, or your PC Monitor.

After a couple of days, let's re-read this article.

?“I & T” and not “IT”:

It is vital to any Organization nowadays to shift its mindset. Alter the way that it sees itself. And jump on the wagon of Digital Transformation. IT Enterprises are Establishments that are specialized in Information Technologies. Its foundation is to provide you with the Information Technologies that you require to manage your Business.

While I&T is a different thing. “I” is for Information that is processed anywhere in the Organization. Client requests are “Information”. Business Procedures are also Information. Products and Services received from your Supplier also are Information. The How’s and When’s of taking a Business Action, not the less is Information.

All those Information are communicated, Processed, and Managed by the “T”, which is the Technology. Your CRM, your ERP, your everything whether Software or Hardware falls under the “T”.

Mindset Shift:

Now after understanding the fact importance of Digital Transformation. The Why the One sees his/her business shifts a lot. Instead of your business being all about making the best sandwiches in town, it becomes an “Information and technology Enterprise Specialized in F&B”. Or being a “Lending Money” Establishment, it becomes an “Information and Technology Enterprises Specialized in Financial Services”.

The alteration of the Mindset opens up a huge possibility the was out of Scope due to the older understanding of the Enterprise True Capabilities. Now you may see the correct path to utilizing Technology for the benefit of your Stakeholders.

Market Disruption vs Business Disruption:

Market Disruption is always good for your Business. It used to be something to fear, Not anymore. Market Disruption means more chances for your Business to widen it Clientele, win new contracts, and fill in new gaps in the market.

While Business Disruption is the danger that you must face and fight to maintain the Business-as-Usual. Business Disruption is a bad thing to your Business. Thus, it must be always kept under control and within the Company’s Risk Apatite.

Business-as-Usual and Change:

Business-as-Usual is the day-to-day activities taken by the Enterprises workforce in order to achieve the Enterprises Objectives. But Change is always there, imposed on the Business due to an unlimited number of factors. Change by itself is Business Disruption, and Business Disruption is bad.

So, what to do and how to go about this continual challenge. Well, change by itself is not bad, but it must be kept under control. To avoid losing clientele due to new Regulations. Or to gain more market share and thus profit. Change must be introduced to your Business-as-Usual. And here comes the beauty of Project Management, where change is controlled and kept with Tolerances.

Value Co-Creation, Stakeholder Engagement, and much much more:

Value or Profit if you would like to use that word, is actually co-created by all Stakeholders. Including your competitors. If you let that fact sink in for a moment, we would reach an understanding of the importance of Engaging all Stakeholders. Not only that but furthermore, the importance of setting Tolerances to satisfy “Managing by Exception”.

The matrix is rich in its ingredients and fine-tuning is an ongoing integral part of your day-to-day activities. Which, once again imposes another concept to apply, that is “Managing by Stages”.

Optimize and then Automate:

Your Business activities, either your Business-as-Usual or your approach to Managing Change. Must also be always Optimized and Automated. The ongoing fine-tuning is aimed at Optimizing your Procedures and Processes. This should always be followed by Automation reducing several types of errors and risks, and maximizing our resources.

Under Achievement Awareness:

There is nothing worse than an underachieving Businesses, except for an underachieving Business that does not realize it's underachieving.

A lot of Profit is lost due to the fact that Businesses usually fail in Maximizing the Utilization of Resources. And failing incorrectly Identifying and Eliminating poorly achieving Investment Initiatives and Assets. Such a situation is the norm in a lot of Enterprises. And that for the fact of not having, or having a poor P3Os.

The role of you P3O Manager:

Yes, you may have some sort of successful Business without P3O. Yet, note the word “sort”. To have a true winning Business, you must implement an active P3O. So, what is a P3O?

P3O stands for “Portfolio, Programme, and Project Office(s)”. And it’s the winning ticket of any Organization that aspires to keep existing in the current Global Market. And is contrary to the misconception that P3O is a thing of Large Enterprises. And the SMEs have nothing to do with P3O or there is no need for it. P3O, nowadays proves that it is needed with your Business whether it is a Multi-Million Dollar Organization or a small Juice stall on the sidewalk.

P3O makes sure that all your business activities are aligned with your Organization's Strategies and aim to achieve their Objectives. It ensures that your Projects are handled Correctly and Efficiently, and in line with the Programmes set to achieve the correct Change.

Your P3O Manager is the Champion who not only preserves your Business Profit but also drives the New sources of Income and Growth.

Closing Note:

To Excel in Your Business, you must equip yourself with the correct mindset. The mindset that enables you to recruit the correct champions to drive your Business. You must see Business in a very deferent way and absorb that new way fully.

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