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The Business Of Business Is People
These aren’t much help in assessing a people business, as they tend to mask weak performance or indicate volatility where it doesn’t exist. A struggling advertising agency or software company may show what seems like a satisfactory return on assets largely because it has so few of them. Similarly, even modest capital investments or productivity improvements may cause big swings in ROA for a company whose asset base is relatively small. For example, if employee costs are five times assets—not uncommon in a people business—then it takes only a 5% increase in employee productivity or a 5% reduction in employee costs to increase profits by 25% of assets.
Have conversations with people on social media, and answer their questions. Whether we realize it or not, we want to buy from people we can trust. People who do what they say, fulfill their promises, and fix things when they go wrong.
Will Gujaratis around the globe continue to enjoy the same success in the future? There is a risk that divisions in India may, in time, spread to the diaspora. Some fear, too, that in the age of “knowledge economies” their utilitarian approach to learning might become a disadvantage; it is Bangalore and Hyderabad that have pulled ahead in India’s latest high-tech businesses.
He has also led a very public battle against the FBI and their demand that Apple creates a backdoor for users’ iPhones. Donatella Versace, sister of the founder of the Italian fashion brand Versace, Gianni Versace, inherited the company after Gianni’s murder in 1997. She supports Elton John’s AIDS Foundation and was the first woman to win the GQ Designer of the Year award. Madam C.J. Walker is listed in the Guinness Book of World Records as the first female self-made American millionaire.
Frankly, this may be less the result of poor communications between business and IT than it is of poor communications between different IT divisions. Take that idea you had of putting new data center infrastructure in place to enhance scalability and halt bottlenecks to business growth. Now that you understand the corporate five-year plan, though, you can structure your proposition for a technology refresh around the enterprise’s key objectives, such as driving ecommerce growth. If not, it’s time to ask about it, so that you can understand where the business is going and how business executives talk about achieving those goals.
Optimally, IT will even be involved in the discussions that generate those strategies. Clearly, any enterprise that wants to lead more strategically, innovate more creatively, and expand more aggressively has a vested interest in being able to communicate more effectively. IT professionals, you should champion the cause of becoming better communicators outside of your own cohorts.