Business success depends on proper Human Factor & Business Setup. According to the model developed by McKinsey, a leading consultation firm, there are 7 Elements Framework for the success of any organization:
A). Software: Skills, Staff, Style & Shared Values
B). Hardware: Strategy, Structure & Systems
Both Software & Hardware works together to achieve the "Shared Values".
1. Skills: what is the skill-set level of the staff?
2. Staff: who are they and their qualification & experience?
3. Style: what is the leadership style in your company?
4. Strategy: what is the plan of actions you have to succeed?
5. Structure: what is the organizational structure in your company?
6. Systems: what are the activities, procedures and processes?
7. Share Values: what are the values your company stands for?
Changing one single element will change all other elements, and neglecting one element will negatively affect the rest of elements.
This framework helps you identify the weakness in your existing business during the change process or to setup a strong one from the scratch. #Business #Marketing #Success