Budhwar: How to Build Organisations that Endure-Insights

After training 4,000 senior executives in Africa and the UK in the past nine years, These Executive Minds (TEXEM), UK pride themselves on their ability to customise programmes for their clients and TEXEM have a deep understanding of Africa. Furthermore, TEXEM and its world-class faculty partners have a very good grasp of contextual realities of Africa vis-à-vis weak institutions, resource dependence, limited infrastructure and the huge size of government. TEXEM’s forthcoming programme on ‘Building Successful Organisations that Endure: Aligning Purpose, Process, Performance, and People’ to be delivered by world renowned  Professor Pawan Budhwar Editor-in-Chief of British Academy of Management (One of the world’s top academic journal, even raked higher than Harvard Business Review)at Eko Hotel, Victoria Island , Lagos on the 2nd and 3rd of May. has offered consultancy services to hundreds of firms globally.

 

 

What makes TEXEM different from other consultancy firms?

In response to this question please allow me to share with you some of TEXEM’s unique selling points:

–Good reputation in offering tailored, relevant and context-rich executive education programmes, which are relevant and have an impact on the bottom line.

-Network of critical stakeholders in Europe and North America that TEXEM have worked with in the past, which they could deploy towards the delivery of executive development programmes.

-The impressive track record on customer satisfaction with 60% of her delegates being repeat customers.

-Understanding of the challenges that organisations face and committed, distinguished advisory board, which have a passion for the growth of Africa.

-Great networking opportunities with very senior executives as participants and over six hundred years of combined experience of participants and faculties in every programme thus steepening the learning curve of participants via peer to peer learning moderated by world-renowned faculties.

 

How do you create enduring success in an organisation?

Leaders can learn how to create enduring success by attending the forthcoming programme coming up on the 2^nd and 3^rd of May at Eko Hotel, Lagos, Nigeria. But in brief, organisations can enhance their rate of success by learning from own and others’ mistakes. They could also achieve enduring success by pursuing effective and efficient change management; continuous exploration of new ideas, mechanisms, and initiatives for innovation, improvement of systems and products; diversifying on a regular basis; building and sustaining unique/differentiated core; being a learning organisation; creating a synergistic interdependence between crucial function; amongst others.

 

How can purpose and people be aligned towards a successful organisation?

 

One way of achieving this would be by aligning organisational vision/mission to its strategy and goals. Make sure these are actionable to all employees by cascading, i.e., ensuring the organisational vision is translated into lower level objectives; by connecting dots; the adoption of balanced scorecards can be considered; guaranteeing meaningful communication; and optimal use of vital organisational resources.

 

How can aligning performance and process lead to building a successful organisation?

Organisational alignment can be vertical and horizontal and when achieved results in improved performance leading to organisational success. Vertical organisational alignment can be obtained via the process of ensuring that there is: a fit between external environment/forces and business/corporate strategy (i.e., the required strategic emphasis); and key functional strategies (e.g., HR, Marketing, etc.) are also aligned with the business strategy. This results in the creation of strategic fit, which is fundamental not only to competitive advantage but also to the sustainability of that advantage. The horizontal alignment, on the other hand, is created by the process of ensuring coherence between core organisational functions, resulting in the creation of a synergistic effect leading to enhanced performance and organisational success.

What is the difference between developing a successful organisation and building a successful organisation that endures?

A successful organisation can be defined in a variety of ways depending on a given stakeholder’s viewpoint. It can be defined regarding market leadership, profitability, reputation, achievement of action/target/goal in a given period, monetary rewards, or positive impact on others, amongst others. There are few ways of building an enduring organisation, these include: by embedding resilience in their businesses, can act fast to respond to forces of change (e.g., competition, demands, technological advancements, etc.), continuously transforming by developing new competence and capabilities. Others are by minimising the gap between intention and needed actions, having proactive and agile leadership, having a strong culture aligned to a clear vision, providing extraordinary returns of key stakeholders on an ongoing basis, amongst others.

 

What actions can be explored towards achieving an enduring success in the organisation?

This can be achieved by having the right leadership which can ensure a relevant business model in place (and next-generation business model already in development and how the migration should take place). The leader must be strategic and be able to access opportunities within their clients, design processes to reach new level of performance, having relevant tools to create and sustain change, amongst others.

Could it be said that failing to align organisational purpose, process, people and performance would be the first step to a failing organisation?

 

Perhaps, but many times it might not be observable straightaway, i.e., if the mentioned are not aligned, then the organisation will fail. Also, there can be many other factors which might be contributing to organisational failure apart from alignment. It is worth noting that alignment, as it is portrayed here, is not easy, and also realignment is further challenging and might not be achieved in the short term because of factors such as lack of integration between systems, different challenges (e.g., related to costs and regulations), etc.

 

What are the steps executives can take towards aligning purpose, process, performance, and people?  

It has to start with a clear and ambitious vision, a clear organisational purpose, the right strategy which is in line with external forces, effective leadership, engagement of employees, vertical and horizontal alignment, relevant organisational capabilities, access to resources, and appropriate management systems.

Why should executives attend this programme?

Please allow me to share with you some testimonials from previous delegates of TEXEM and so you can be the judge:

“It’s been a really intellectually energising exercise. I think it’s a Global standard and I have gotten lots of insights already”. Chijioke Ugochukwu, ED Shared Services, Fidelity Bank.

“I’m glad to be part of this session. Firstly, the resource people are quite commendable and the form of case studies are enlightening. I’m delighted with the quality of colleagues in there and the ideas shared from experience. This is a session I will like to be part of again”. Bosun Sosanya, Executive Director, Halogen.

“It’s the first time Im doing a local programme in Nigeria and it’s actually quite interesting. The first thing I liked about it is the diversity of the participants. I also like the edgy conversations we had with Christian and Alim. It’s quite thought provoking”. Effiong Okon, Operations Director, Seplat.

“I have enjoyed every part of it. It’s been wonderful. The lecturers have put in their best. I will recommend this course for anyone who wants to grow his business. And it’s a worthwhile course to attend for business executives”. Ambrose Okoh, Controller of Programme, Channels TV

“During the programme, we have been able to understand the value that people add to the growth of an organisation. If you look at the entire experience, there’s a mind shift and a lot of drive added to the organisation to ensure that the success level is sustained”. Molade Faseru, Divisional Head, Retail Banking, GTB.