Success Factors for Top Performing Companies
Written by Tedd Long on Thursday, May 21 2009
As a consultant focused on human capital management and innovation, I found the results of a report issued by Six Disciplines on factors that contribute to business success to be very enlightening. Six Disciplines contracted with Research for Action to survey 314 businesses that employ 10-100 people to determine the factors that were most important in their success.
They found that high performing organizations scored at least 100% better on these five factors than their competitors:
- The strength of the senior leadership team.
- The organization’s ability to attract and retain quality people.
- The organization’s ability to adopt a disciplined approach to the business including working “on” the business to create plans and align the employees to execute the business plans.
- High performing companies made strategic use of technology.
- High performing companies developed relationships with trusted outside advisors.
You can read the complete research findings in this white paper, Five Secrets of High Performing Organizations. It is refreshing to see that top performing small businesses recognize the value of leveraging technology and the advice of a trusted advisor.