23 Apr Where do we frequently fall short? Loosing the Competitive Advantage in the Market
Many organisations have highly educated people, often with specialised technical knowledge, as well as high a calibre of products, so where do organisations go wrong and lose their competitors advantage?
Many can claim to have the education and technical knowledge required in a particular industry, but unfortunately this alone will not offer the competitive advantage needed to bring success that will be sustainable over time.
It has been proven time and time again that for firms to meet their strategic objectives, increase competitive advantage and support business growth they must invest in management and leadership development. Even with todays use of technology and technical knowhow organisations must seriously consider the one single most important asset – people. Thus, every minute invested in their development adds to the potential success they can bring to the organisation.
Look at successful firms and speak to loyal clients to see the common elements that surface, what do these firms have in common and why are their clients loyal over time?
Chances are that you will find a strong pool of managers and leaders with management skills that guarantee a healthy culture, ensure engaged and loyal people with attributes of loyalty, honesty, diplomacy, teambuilding, and the skills to be able to delegate and inspire their teams.
Good management leadership is vital in all industries across the world, and even more true in financial services where the stakes are often very high and demands on managers and leaders are particularly challenging.
Yet despite the evidence, we fail to invest the time to give our managers and leaders the tools, skills and knowhow to make the difference to the organisation.
Unfortunately, many vital skills do not come naturally to most!
How often do organisations consider how managers communicate and the impact this can have on teams, departments and the overall productivity? how do managers deal with the conflicts that so often arise in the workplace? do they encourage and inspire their teams so as to bring out the best in every single person? do they cope well in the fast-pace and everchanging professional environment?
These questions need to be addressed by all organisations, as well as by managers themselves; a little time needs to be allocated to develop these vital skills, if they are to succeed at an individual level and help organisations attain the competitive advantage that will bring long term success.
The EIMF team recognises exactly how important this is and offers professionals the opportunity to attain these essential skills through a CMI (Chartered Management Institute) accredited course – find out more here
Another option for some professionals may be to follow flexible short self-paced online courses covering different management development elements – find out more here