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Getting to Big the Small Way
It is a fact that small and midsize (SMB) companies grow just as fast, if not faster, than large corporations having billions of dollars of investment and millions as profits. SMB companies have a definite advantage because their size makes them more agile so that they can execute their strategies faster than their much larger rivals. Also, new technologies are incubated and nurtured much better in smaller firms. If these companies also get the benefit of bringing about such incremental changes, which can be implemented easily and bring bigger than expected results, they can grows and become bigger with lesser resources and effort. This book by Prestipino finds out what are the areas of business which make major accumulated difference to accelerate to the higher level of growth with the smallest changes and impact. The author calls it a process of ‘discovery’ where small improvements that make the biggest impact can be found and made as an ongoing process. The theme of the book is that all incremental small changes in aggregate add up to something big. The book has 10 chapters which take the reader through the concept stage to implementation of small ideas to monitoring to help stay on the course. The first two chapters are devoted to explaining the concept of thinking small for the big effect. The author is at pain to explain that thinking small is not about staying small, it actually fits in the bigger picture as it provides a way to retain the focus. Every one in a business entity is tuned towards thinking about tackling bigger problems but pays no heed to the saying "the devil is in the details" to grow big by attending to the smallest of details, which can often pave the way for sustained growth. The author rightly thinks that 95 per cent of managers leave small things unresolved and tend to handle only bigger problems, as they perceive bigger benefits in doing so. A simple small change in one area of the company may create a very beneficial ‘ripple effect’ across the other areas of business. With examples from GE, the author bares the myth ‘big changes bring big outcomes’ and proves the concept to be outdated. He emphasises the idea of small incremental behaviour culture in the organisation which empowers the employees to fully utilise their skills and abilities to effect change by taking immediate action. A structured model of SMALL Tactics — S-Select the problem, M-Measure impact of change made, A-Action, i.e., the change is within the authority of the employee, L-link-the change is linked with the company objectives, L- Learn-so that others can also use the benefit, which can be easily understood and rapidly introduced in any organisation is a useful idea. In today’s business world, one has to aim big and think small. Alvin Toffler’s statement, "you’ve got to think about ‘big thing’ while you are doing small things, so that all the small things go in the right direction", is very relevant. The assumption that bigger problems require bigger solutions is impediment to thinking small while aiming big. The author suggests four areas of small improvements for bigger results — markets, products and services, competitions and the scope of business. Defining markets accurately and knowing clearly whether a company is a product or a service company make all the difference. By putting all the four factors together, it is possible to know the specific areas where the smallest changes will have the biggest impact. The book is no doubt a useful material for those who fail to appreciate the power of small to scale big. However, it is not the first time any expert has discussed this vital but generally ignored aspect of doing business. In Japanese business world, the concept of Kaizen has been practiced for many years. In fact, the Japanese have perfected the art and the world has to learn a lot from them. The book features insights culled from vast experience of the author with different type of business organisations It is a good reading for the entire spectrum of managers, business professionals, CEOs, consultants, academics and management students.
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MOST
of the business organisations are used to the idea of doing something
big to get big outcomes. CEOs and presidents often work out grand
strategies involving major changes, invest huge resources and try to
execute the plans with finesse, only to find the results far below their
expectation. They refuse to understand the power of small which can make
big difference.