With the grim news about AIG, Lehman and Merrill Lynch making headlines, it's easy to be concerned from the perspective of investors, customers and employees. However, the turmoil on Wall Street can be an opportunity for you as a leader to open discussion with your team or organization about the state of your business, and what you can do to make the business as strong as possible.
No matter what industry you're in, it is more important than ever to keep your focus on creating the highest value.
To prompt your thinking, here are a few questions to help you and your team assess the value you're creating and delivering:
* What does your market care about most now? And what are you doing to address that need?
* What can you do to create even more value for your clients or customers?
* Is your value proposition still relevant? Or do you need to modify it?
* Where should you be investing your efforts in the business to achieve the greatest rewards?
* What aspects of the business are not producing the best results? What will you do about it?
* How do you measure the value you deliver?
* What's driving your day-to-day decisions?
Be willing to make changes quickly. Shift gears, if needed, to create the highest value. Don't wait for a crisis. Regularly evaluate the value your business delivers. It's a best practice period.
(c) 2008 WorkMatters, Inc.