Back to Basics

Business Basics

I started out doing consulting by forming BASIC Management Group.  The focus being that a solid business needed to be grounded in basic business fundamentals. Recalling what has happened in the past few weeks, BASIC developed during a significant economic cycle in the late 70’s, early 80’s. The cause of what has just occurred in the financial world has been:

  • A deviation from sound business practices
  • Lack of ethics/morals
  • Flawed leadership

I am sure there will be countless theories about this whole mess. I have confidence that the pendulum of reason will swing back to a sensible level of balance.

Enterprises/organizations of all kinds will encounter plenty of challenges.

The foundation for success will always be business basics.

What’s Next?

Peter Drucker:

 “Management is doing things right. Leadership is doing right things”

Oren Harari wrote:

“My point is that as leaders, we need to take those small, in-the-distance trends seriously. They represent much more than simply “challenges”. They represent market inevitability’s. They represent high-growth opportunities. If we fail to act with a healthy sense of purposeful urgency, our companies are in peril, no matter how big they are today.”

What does this say to those of us in how we run our businesses?

  • Customers- Develop deep customer loyalty
  • Products/Services- Extensive profound value/prolific service
  • People-  A committed team effort. Get the right people on the bus.
  • Strategy- Action, doing: visualize the future
  • Resources- Create/find the most, unique, different: anywhere