Notes

The Five Whys of Business Analysis and Strategy
"The Five Why's" was an underlying cause and effect questioning methodology developed by Toyota to establish the main issue behind a particular problem. By continuing to ask "why" to each response, you'll be able to peel back the layers to access the nub of the issue and build an enduring solution to overcome it. The problem we all face now could be how to increase performance when sales are falling and budgets are squeezed.

As the recession takes hold, organisations have responded by tightening their collective belts in a drive to cut their overhead and minimise their exposure to the less sympathetic banks. Consequently, there is less overall around and sales have fallen with sectors fighting for what business there is by cutting margins, discounting and doing whatever they can to persuade the client to put their hands to their not so deep pockets.

The inevitable result is that organisations reorganise, and spending is scrutinised with budgetary autonomy reduced as FDs exert tighter controls. Easy money saving cuts include experiential marketing, internal communications and team development as discretionary spend is challenged and the enrichment of the message eroded. Additionally, Power BI Training Courses in London are reconfigured to the changed environment and that means job losses, merged teams and changed teams.

So let's ask "The Five Whys" for this hypothetical statement: "The performance of my team has dropped."

* Why: Our regular customers aren't buying from us like they used to and we're finding it difficult to acquire new customers.

* Why: Our people aren't engaged, giving it 100%. Individual targets are being missed.

* Why: Morale is low, weren't communicating effectively, relationships aren't as strong because they used to be and that's effecting customer interaction and relationships.

* Why: We've re organised, less people, smaller budgets, same work load.

* Why: The focus is on cutting costs rather than optimising sales.

Business leaders are keenly aware of the need in these recessionary times to help keep cost down and reduce overheads to complement the economic cycle. Indeed, we have reorganised our very own business and realigned ourselves towards new opportunities which have now emerged. But to avoid outward indications of PTCD (post traumatic change disorder), there are a few quick wins to get the performance curves pointing back an upwards direction:

* Re-engineer your teams addressing team effectiveness and leadership

* Re-engage with the clients with experiential marketing

* Re-incentivise your team with a meaningful reward scheme

Toyota's "Five Whys" is not a panacea but it will help crystallise an issue and effectively diagnose the problem. With a clear understanding of what you want to accomplish (your objective) after that you can begin the building of a solution (your plan). Both need contribution and buy in from your own people.
Website: https://www.janqwztraining.co.uk