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Michelle Bauer
Common Language
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michelle@common-language.com
FOR IMMEDIATE RELEASE
Navigating Economy Requires Positioning, Planning and Studied Approaches
(Tampa, FL) -- Sept. 16, 2008 – External economic forces are likely to propel companies into implementing change strategies to adjust to new economic realities, but these companies have to be flexible enough to be ready for an economic turnaround when it happens. That’s what the management at Proggex, the go-to company for project management, believes. Jim Stroh, Proggex CEO, says planning and change strategies are the key to guiding your business safely now and into the next economic upturn.
For those who lived through the troubled economic times of the 1980s and 1990s, they will remember that at some point the economy will pick up again. Stroh says companies shouldn’t make changes that will prevent their businesses from rebounding when the economy bounces back. He says it’s a fine line to balance your business and profitability while at the same time planning and preparing for future expansion.
Project managers are certified by the Project Management Institute, an industry gold standard. PROGGEX’s long track record of project management success covers a wide range of industries including pharmaceutical, financial, healthcare, biotech, non profit, call center, legal, education, transportation and construction.
A Sept. 4 Business Week article states that while the economy has made some surprising gains so far this year, the rest of the year could be a more difficult challenge. “After posting a 0.9% advance in the first quarter, the economy charged ahead at a 3.3% clip in the second quarter, a steep upward revision from the government's original estimate.” The article summarizes that in the coming year high gas prices and low income growth mean more businesses will postpone projects and cut more jobs.
“Business owners and managers need to carefully learn lessons from the past and avoid the pitfalls of poorly planned change initiatives and micro-change projects,” Stroh asserts. “Business Managers should consider change strategies and associated projects that are built on studied approaches.”
Six critical steps in planning and executing change to minimize the pain and maximize the gain are:
1. Build a sense of urgency for change.- Owners and managers must communicate a sense of urgency to employees by explaining to them the external forces impacting the organization.
2. Build a guiding coalition.- Managers need to engage key players in their organization who will support and add credibility to the change.
3. Create a vision for the future.- Create a shared vision for the future among the senior team in the organization. Companies should set specific goals for change based on conditions affecting the organization and determine what steps (projects) will move the company away from negative conditions or circumstances.
4. Communicate the vision.- Communicate three themes associated with the companies focus:- The change projects will happen and they are necessary- How the projects will impact the organization- How the change projects will impact shareholders, employees, suppliers, customers, etc.
Without clear communications employees, suppliers, customers and so on tend to make up their own stories about the status of the company and in turn shift focus away from management’s initiative.
5. Create short term wins.- Celebrate short term wins which move the organization as planned in the change project.- Don’t let up- Hold all project members accountable for the results they achieve in making the change project happen. Proggex’s experience shows that most change initiatives fail due to senior managers who do not visibly and consistently support the change and keep the pressure on.
About Proggex
PROGGEX is the go-to company for Project Management expertise. Founded in 2003, PROGGEX is a rapidly growing industry leader helping clients achieve high-quality results on time and within budget, no matter the size or type of project. The key to PROGGEX's success is staying laser focused on one idea—being the best at executing client projects. Unlike other firms, PROGGEX doesn't offer Project Management as simply one of a broad range of business consulting services. Project Management is what we do, and it's all we do.
PROGGEX is headquartered in Clearwater, Florida, but our reach is global. PROGGEX has successfully managed the progress and completion of projects spanning multiple countries and requiring the negotiation of diverse cultures. Our varied clientele operate in industries such as healthcare, finance, transportation, pharmaceutical, education and construction.
For more information, please visit www.proggex.com.
