Companies today are seeking to find a good balance between employee engagement and organizational strategies that work together to achieve smart goals and objectives.
A significant factor for success is a company culture that aligns with business strategies.
Culture, in this sense, is not just about congenial work environments, but also an organizational structure which incorporates the right harmony between employees and company mindset.
Recent studies have shown that company leadership that feels its culture and business goals are aligned also has higher profit margins.
Reporting participants indicated profit margins more than double, from 4.8% to 11.5%, when culture lines up with strategy.
Organizational Structure Takes A Variety of Forms
The first step in coordinating culture with business objectives is deciding what type of environment a company wants to build. Depending on the goal, companies can then put strategies into place that support the cultural ideal. Each type attracts its own adherents among leadership and staff, and a company can certainly have overlaps.
An company striving for a culture of innovation needs to include a business strategy that uses new ideas to keep ahead of the competition.
Meanwhile, the overall culture should aim to encourage diversity in approach and support risk-taking. Leadership should keep its eye on future priorities and encourage its staff to explore.
The business strategy for a brand focused on efficiency should strive to be a well-oiled business machine that focuses on delivering quality services and products. It’s often data-driven, with clear lines of responsibilities.
The culture aspirations should be to make staff training a priority. Workload and assignments are optimized for definitive performance measurement.
- Business Strategy: A customer-focused firm that produces high levels of satisfaction in products, services, and customer response among clients.
- Culture: Team building and information sharing to achieve satisfied customers. Provide deep understanding of products and services to address client desires and goals.
- Business Strategy: A company that centers on best practices, services, and materials to produce in-demand products and services.
- Culture: Localized decision-making that improves products and processes. Keen attention to data-driven analytics in order to refine and deliver best products and services to clients.
- Business Strategy: A firm that has a strong brand identity and takes that into consideration with all its strategies.
- Culture: Reputational awareness that drives pride in products and services. How the company is perceived is as important as the products and services it delivers in keeping with industry leadership goals.
No company needs to make strict choices among culture identity options. Depending on the size of the company, multiple cultures can come into play. Retailers, for instance, can have strong brand-identity and customer service in its customer-facing divisions while a quality-focus might be more in tune with its research and development teams.
Another key to success is guiding employee performance to align with the corporate goals. Free-thinkers thrive in innovation, while data analysts might prefer efficiency-driven settings. Regardless of the culture, providing the proper tools and support for staff to achieve within their job roles, the company hierarchy, and personal and professional goals is critical.
Electric vehicles (EV) industry gaining momentum in ASEAN
The development of electric vehicles (EV) is gaining momentum in Southeast Asian nations, as such vehicles require fewer parts and barriers to market entry are lower compared to engine-powered vehicles, according to The Yomiuri Shimbun.
The development of electric vehicles (EV) is gaining momentum in Southeast Asian nations, as such vehicles require fewer parts and barriers to market entry are lower compared to engine-powered vehicles, according to The Yomiuri Shimbun.(more…)
More manufacturers to relocate from China to Southeast Asia
JLL anticipates the trend to accelerate as the China-US tariff war are driving more companies in China to relocate their operations to other countries to avoid US tariffs and maintain their competitiveness.
Bangkok, 11 July 2019 – More manufacturers have relocated from China to Southeast Asia over the past few years largely because The Red Dragon’s labor costs have become less and less competitive. This trend has been reinforced by the China-US trade war that began in 2018.(more…)
New Business licenses up 15.85% in first 6 months
Despite the Chinese-US trade war, the investment outlook in the second half of the year is expected to increase by 20 percent or 200 billion baht. It is expected that the investment value will total 430 billion baht this year.
BANGKOK, 3 July 2019(NNT) – Investor confidence and clear policies on industrial development, especially in the Eastern Economic Corridor (EEC) area have increased the value of investment by entrepreneurs requesting new business licenses, and expanding their factories’ capacity by 15.85 percent.(more…)
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...
How is Thailand Bringing Technology to the Table?
In Asia, a country like Thailand has taken the initiative to implement agricultural biotechnology in its industry. The country has...