20Mar 2017

DECODING THE FORMULA FOR EVERGREEN BUSINESS SUCCESS.

  • M.B.A., Final Year Student, SRM University, Ramapuram, Chennai, India.
Crossref Cited-by Linking logo
  • Abstract
  • Keywords
  • References
  • Cite This Article as
  • Corresponding Author

The goal of this article is to understand deeply what the most important elements of success of a business. To achieve this objective, the study extensively collected, identified and analyzed best management practices, decode them into qualified factors that contribute most to sustained business performance. The findings suggest that the talented team & innovation are the main concern in determining the success. Other remarkable findings include that culture & structure, Execution & Leadership were all interrelated to each other and essentially need to be satisfied for attaining success. The mechanism through which organizational culture impacts the design of structures and vice versa is explained at the conceptual level. This article provides formula which when executed correctly will lead to increase value for both customer & company as well as sustain in this dynamic world. A schema for understanding the different potential domains for innovation is also added

  1. Igor Ansoff and Patrick A. Sullivan, (1993). “Optimizing Profitability in Turbulent Environments: A Formula for Strategic Success”, Long Range Planning, Vol. 26, No. 5, pp. 11 to 23.
  2. Jean-Michel Mollo, Nathalie Parent, (2013).“Decoding the formula for superior performance- Reinvent your business”, Deloitte.
  3. Ira Kalb (2013),” Innovation Isn't Just About Brainstorming New Ideas”, Marshall School of Business, USC, Business Insider.
  4. Richard Phelps, (2012). “Delivering better business results through talent”, www.pwc.com/talentmanagement.
  5. Ovidiu-Iliuta Dobre, (2013). “Employee motivation and organizational performance”, Review of Applied Socio- Economic Research, Volume 5, Issue 1, pp. 53
  6. Felipe Furtado, Gibeon Aquino and Silvio Meira, (2012). “Improving Organizational Performance Through Reward Systems”, Business Dynamics in the 21st Century, www.intechopen.com
  7. Nitin Nohria, William Joyce, and Bruce Roberson, (2003). “What Really Works”, Harvard Business Review article
  8. Fahri Karakas, (2007). “The Twenty-First Century Leader: Social Artist, Spiritual Visionary, and Cultural Innovator,” Global Business & Organizational Excellence, p: 44-50.
  9. John Spence, (2014).“The Formula For Business Success”, www.johnspence.com
  10. Nebojsa Janicijevic, (2013).“The Mutual Impact Of Organizational Culture And Structure”, Economic Annals, Volume LVIII, No. 198
  11. Derrick Palmer   & Soren Kaplan, (2015). “A Framework for Strategic Innovation”, www.innovation-point.com
  12. Richard S. Wellins, Audrey B. Smith, Scott Erker, (2007). “Nine Best Practices For Effective Talent Management”, Development Dimensions International, Inc., MMVI.
  13. Phil Harkins, (2014).“10 Leadership Techniques for Building High-Performing Teams”, in Linkage, www.linkage.com
  14. Alfred A. Marcus, (2006). “Big Winners and Big Losers”, Pearson Education Inc., USA
  15. Paul Rogers, Paul Meehan and Scott Tanner, (2006). “Building a winning culture”, Bain & Company, Inc., www.bain.com
  16. David J. Teece, (2009). “Business Models, Business Strategy and Innovation”, Long Range Planning, vol43, Elsevier Ltd.
  17. Erika Agin and Tracy Gibson, (2010). “Developing an Innovative Culture,” T+D 64, no. 7, p: 52-55.
  18. Dorian LaGuardia, (2008). “Organizational Culture,” T+D 62, no. 3, p: 56-61.
  19. Qikker Solutions Ltd, (2014).“The Missing Link: Improving your organization, by linking reward to performance”, www.qikker.com
  20. IBM Global Business Services, (2006). “Expanding the Innovation Horizon: The Global CEO Study 2006.”
  21. Bruce I. Jones, (2012). “Brand Loyalty: Applying Disney’s Formula for Long-Lasting Success”, disneyinstitute.com
  22. The Bridgespan Group, (2009). “Designing an Effective Organization Structure”
  23. Robert G.Cooper, (2006). “Formula for Success in New Product Development”, Marketing Management Magazine, Stage-Gate International
  24. John L. Ward, (1997). “Growing the Family Business: Special Challenges and Best Practices”, Family Business Review, vol. 10, no.4, December
  25. Dalita Balassanian, (2006). “Incentive Systems: Incentives, Motivation, And Development Performance”, United Nations Development Programme
  26. Gabriel Kasper, (2008). “Intentional Innovation: How Getting More Systematic about Innovation Could Improve Philanthropy and Increase Social Impact”, W. K. Kellogg Foundation
  27. John J. Bowen Jr., Paul Brunswick, Jeanne Hurlbert, and Jonathan J. Powell, (2015). “The Ultimate Success Formula: Fast-Track Your Practice with Today’s Most Effective Strategies”, www.cegworldwide.com
  28. Barry Jaruzelski, Volker Staack, Brad Goehle, (2014). “Proven Paths to Innovation Success”, Strategy+Business Magazine, PwC Strategy& Inc
  29. Bayode O. Babatunde, Adebola O. Adebisi, (2012). “Strategic Environmental Scanning and Organization Performance in a Competitive Business Environment”, Economic Insights – Trends and Challenges, Vol. LXIV, No. 1, pp24-34.
  30. Roger B. Mason, (2007). “The external environment’s effect on management and strategy”, Management Decision Vol. 45 No. 1, pp. 10-28
  31. Gary P. Pisano, (2015). “You Need an Innovation Strategy”, Harvard Business Review
  32. Steven G. Blank, (2006). “The Four Steps to the Epiphany”, 3rd Edition
  33. Jeffrey Pfeffer and John F. Veiga, (1999). “Putting people first for organizational Success”, Academy of Management Executive, Vol. 13, No. 2.
  34. Ong Tze San, Yip Mei Theen, Teh Boon Heng, (2012). “The Reward Strategy and Performance Measurement (Evidence from Malaysian Insurance Companies)”, International Journal of Business, Humanities and Technology, Vol. 2 No. 1.
  35. Robin Sharma ,(2011). “Little Black Book For Stunning Success”
  36. Kenneth Chukwujioke Agbim, (2013). “The Impact of Organizational Structure and Leadership Styles on Innovation”, IOSR Journal of Business and Management (IOSR-JBM), Volume 6, Issue 6, PP 56-63
  37. Brooke Dobni, (2010). “Achieving synergy between strategy and innovation: The key to value creation”, Int. Journal of Business Science and Applied Management, Volume 5, Issue 1.
  38. David Birchall, Nick Holley and Benjamin Reid, (2008). “Talent Management”, Henley Business School
  39. Bob Burg, (2003). “The Success Formula”, Burg Communications, Inc.
  40. Dan Martin, (2012). “Scientists create formula for business success”
  41. Friday O. Okpara, (2007). “The value of creativity and innovation in entrepreneurship”, Journal of Asia Entrepreneurship and Sustainability, Volume III, Issue 2

[HemaAnandaRaman.N.M. (2017); DECODING THE FORMULA FOR EVERGREEN BUSINESS SUCCESS. Int. J. of Adv. Res. 5 (Mar). 439-446] (ISSN 2320-5407). www.journalijar.com

HemaAnandaRaman.N.M.
M.B.A., Final Year Student, SRM University,Ramapuram, Chennai, India.

DOI:

Article DOI: 10.21474/IJAR01/3531      
DOI URL: http://dx.doi.org/10.21474/IJAR01/3531

Download Full Paper

Download PDF No. of Downloads: 22 | No. of Views: 126