Fit for purpose or fit for failure 3

Fit for purpose or fit for failure 3

23 May 2019 By 0 Comments

In the previous 2 articles we have looked at the skills businesses need in their employees as they establish a business in a developing market where they have no real experience in that market  and in the second article we explored the skillset needed to develop that business to the next stage, which often involves integrating a local business into the global one. We highlighted that different skills were needed and that these needed to be recognized if both the employees and the businesses were to be successful and achieve their aims.

The third stage we need to explore is that of a business that is now established and is now considered to be a mainstream part of the business. The dynamics of the business have changed considerably from when it started. Now, we are looking for able administrators who know how the business operates, how to set and manage realistic targets and budgets, develop the business in line with corporate CSR requirements and act as coaches and mentors for local staff who will begin to occupy senior roles in the business and will also begin to appear elsewhere in the business as expats.

The  talent pipeline has to be firmly established with successors in the short term and long term identified and managed accordingly,  performance levels among all parts of the business need to be carefully monitored and managed  and individual performance will be managed inline with corporate policy and under performance managed accordingly.

The experienced corporate managers as well as demonstrating these skills will also be looking for their next move up the corporate ladder which reinforces the talent management programme and in our business they will be using their skills to look at growing the local business through acquisitions and/or being used in regional roles.

The fourth and last article will summarise the points raised and pull these various strands together.

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