Synergy as a Component of Strategy and its Relevance
In the world of business, employees have the option of pursuing their objectives alone or as part of a group known as a “team.” When a corporation decides to boost performance, promote strategic development, and accomplish shared objectives via the use of teams, synergy is created. A synergistic strategy may be used by businesses in order to improve communications, encourage the sharing of information, expedite operations, and bridge the generational divide.
Improve the Way We Communicate
Through the use of synergy, communications are improved between departments, and collaboration among employees is fostered in order to achieve strategic objectives. For instance, the department of sales and the department of information technology collaborate and exchange their respective skill sets in order to develop a new customer service site and enhance market share.
Tablet computers and video conferencing are two examples of the kinds of technology that a firm that values synergy may use in order to facilitate mobility, ease of access, and real-time conversations. Employees may benefit from this by improving their communication skills and providing superior service to customers.
Encourage the Exchange of Expertise
The exchange of information makes it possible to get feedback from coworkers and fosters cooperation between internal and external stakeholders. To encourage the sharing of ideas and to strengthen connections, synergy may entail the use of customer relationship management solutions like as Salesforce.com and social networking sites such as Facebook, Twitter, and LinkedIn. When people collaborate in a manner that is synergistic, expectations, standards, and best practises become obvious. This atmosphere encourages learning and development as well as the generation of innovative ideas, all of which are beneficial to the competitive position and strategic value of a firm.
Improve Efficiency of Procedures
The elimination of redundant steps, the shortening of cycle durations, and the raising of overall efficiency may all be achieved via the increased use of organisational collaboration and the dissemination of organisational knowledge. Streamlining a process will reduce duplication of efforts and free up resources. For instance, if the marketing department and the sales department input information about client accounts on different computer systems, streamlining the process would prevent duplication of the efforts. This presents chances for the automation of processes and the reduction of labour expenses, both of which may have a favourable impact on the bottom line of a firm.
Effective and Efficient Operation
Eliminating structural duplication may also promote synergy by finding methods to simplify processes, which will enable each department to concentrate on being as effective as possible within its particular job. This will allow for more collaboration across departments.
For example, the creation of a single, specialised department that is responsible for managing customer service is more efficient than the practise of requiring many departments to deal with consumers in addition to their production obligations. As a result of the establishment of the brand-new department of customer support, the various other departments are now able to delegate challenging client concerns to the professionals.
Fill in the Gaps Between the Generations
An atmosphere that fosters synergy helps reduce the generational gaps that exist across different generations, such as those between millennials, Generation X, and baby boomers. Without it, it’s possible that every group will find unique methods to adapt, communicate, and function. This might have a detrimental impact on the productivity of an organisation as well as the way it operates as a whole.
For instance, according to a survey that was carried out and released by Ernst & Young, 78 percent of respondents believe that millennials are the most technically adept generation, yet just 45 percent of respondents are in agreement that the same generation works best in teams. In a synergistic approach, the group would be paired with another generation that has excellent team skills but inadequate technical abilities. Additionally, the strategy would promote activities that encourage members to learn from each other, such as team-building exercises and social media activities.
Alliances
You also have the option of forming synergistic partnerships with other companies that have resources or methods that complement those that you use in your own company. For instance, a chocolate manufacturer may offer to sell their wares to a neighbourhood bakery at a price that is drastically reduced in exchange for the bakery promoting the chocolate manufacturer to its customers. Both companies are able to advance in ways that would not have been possible without the synergistic link.
