Chaos. Turmoil. Crash. Each of these terms has been used to describe the extreme financial market fluctuations of the past few weeks. There has been a whole lot of doom-and-gloom splashed across all of the media outlets. I suggest we look at the financial situation from another point of view. With the intelligent application of virtual business process technologies I see opportunity, thinning out the weak, and even a providential market situation.
Sometimes it takes a real kick in the pants to get moving. We get into our ruts and keep busy with activities that have nothing to do with moving the company to an e-Business model. The current market, with its wide up and down swings is that proverbial kick.
An e-Business maximizes the Internet, leveraging its global reach and reliable infrastructure, to perform nearly all business processes. There is no good reason for a company to own or even lease massive amounts of office space. Some space is necessary, but nothing like we see today. Encourage as many people as possible to work from home.
To support the virtual worker discussion with management, point to the 212 respondent research conducted by the Computing Technology Industry Association from August to September 2008. They learned that incorporating telecommuting to the business model improves productivity (67%), reduces costs (59%), provides access to more and qualified staff (39%), and improves employee retention as well as health (37%, 25%, respectively). The study also addresses environmental benefits of using virtual workers that would support the firm’s corporate social responsibility and green initiatives. For more information on the study and its results, go here: www.comptia.org/sections/research/default.aspx.
The largest hurdle you will face with this suggestion is management’s mindset. Some managers think the only way work gets accomplished is to have the staff in the office. In addition to the details of productivity increases and cost savings associated with virtual workers noted in the CTIA survey results, turn the conversation to a project management discussion. If you can speak the language of business your messages will at least be listened to.
Work is not defined as physical bodies in a centralized facility; work is the completion of steps to larger goals. Using project management tools, demonstrate to management that the metrics for the team are goals oriented. If you can show how the project fits within the corporate objective of moving toward an e-Business model, that’s even better. To arm yourself with solid information and independent perspectives, go out to www.management-issues.com.
As you pursue ways for your company to take advantage of the current financial market situation, continue to point out that invention, creativity, ingenuity, risk and opportunism have always thrived during times of strife and crisis.
The next post will address the benefits beyond real estate savings, of virtualizing customer care.
On a separate note: Does it pay for a company to emphasize organic and/or green? Attend the Naturally Boulder Products conference in Boulder, Colorado at the end of October to answer this question. Conference information can be found here: http://www.naturallyboulderproducts.com/days/program-and-events.html.
Martha Young is the founder of Nova Amber, LLC, a business consulting firm specializing in virtual business strategies. She has worked in the technology sector for more than 14 years, working and consulting with Fortune 500 companies including Cisco Systems, IBM, Intel Corporation and Lockheed Martin. She is a widely recognized industry expert on hosted, managed and outsourced services, and virtual business strategy.
This blog is a business strategy discussion aimed at firms seeking to build and retain a competitive advantage by taking advantage of virtual business processes. It covers the topic of organizational readiness for virtual business. We explore many of the components of determining organizational readiness including executive leadership readiness, IT readiness, IT governance and how to develop and execute a readiness plan. We will examine the common hurdles to readiness and how to overcome them.
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