The first part of this article assumes that your company is listed on the stock-exchange. Please stay tuned...
As consumers we are continuously seduced by advertisements. And luckily we all know what we want and what we need so we can handle this continuous stream of challenges.
Perhaps less sexy but even so often, your business is seduced in the same way. You should buy this, you should go for six sigma, implement CRM, open in a new market, develop a new product, add additional services, and the only thing you know for sure is that your budget is limited.
One mistake and your opponent will catch up easily.
So how would you minimize business mistakes?
The first pillar is about minimizing these mistakes. It is the pillar of credibility. You know that when you company is listed on the stock exchange, that all actions are observed by the market. If your company announces a business strategy that is not credible, the stock price will decline (which will impact future resource management opportunities).
The first pillar of successful resource management is therefore that you should obey to credibility. All actions should be credible.
How would you know that this will be true?
Think again about the consumer market. You are offered a cream that will rejuvenate your skin (they say). Do you buy it?