Based on recent surveys and conversations, the companies that have proven successful—or given the economic crisis, least unsuccessful for the short duration—appear to share a number of leadership techniques, marketing efforts and operational tactics. In looking over the diversity of strategies and the resulting variances in product designs, distribution techniques and service center designs, the ones that seemed to have risen above the challenges and distinguished themselves seemed to all share a core set of seven characteristics. The shared characteristics found included:
6. Nimble and quick to act. They minimize bureaucracy and have a culture of problem solving. There are many companies that once dominated their niche but became so entrenched in their ways that their competition overtook them.
With the economy improving, now is the time to break the down-cycle thinking and confirm that your people, processes and technology are ready to deliver on what customers want from your organization.
Ben DiSylvester is executive director of The Robert E. Nolan Co., a management consulting firm specializing in the insurance industry.
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The opinions of bloggers on www.insurancenetworking.com do not necessarily reflect those of Insurance Networking News.
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