Corporate steering: The key to success
IT is not often mentioned, yet it is one of the essential elements in a company’s success. It is the notion of «corporate steering». It is the set of resources that enable a company to anticipate the risks inherent in its management, and enable it to make informed decisions to achieve its goals. All entities, especially start-ups, have steering needs in order to be able to steer and control their activities in line with their goals. This implies a proactive approach to anticipating change, allocating human and financial resources efficiently, and monitoring performance on an ongoing basis. As Idriss El Houari, founder of the Al Amana & Ciel consulting firm, explains, «Corporate steering is an essential process for directing, controlling and optimizing a company’s activities. Whether it’s a fast-growing start-up or an established company, effective steering is the cornerstone of sustainable success. In an ever-changing world, with its many economic, technological, and social challenges, corporate steering is becoming even more crucial ”.
Data Management
Many companies neglect the notion of corporate steering, at the risk of finding themselves overnight faced with external or internal constraints that can influence their life cycle. It is necessary for any business to have a dashboard of the various risks in order to be able to make sound decisions, especially in increasingly risk-prone markets. It should be noted that corporate steering materializes through various aspects, including the use of technology and management tools. For experts from the Inforisk firm, «the various steering tools depend on the company’s goals, but ultimately boil down to the following tools: Production management, Commercial management/CRM (management software used to optimize the sales cycle of z company), ERP (global activity steering solution), as well as automated reporting tools «. Indeed, the digitized economy in which people live today requires companies to use and analyze data in order to inform strategic decisions. Also, these tools would be used to monitor and control the performance of a company, such as turnover, profit margin, costs, or customer risk to ultimately support its performance on an ongoing basis. Steering is now carried out, and inescapably, on the basis of indicators which are quantitative or qualitative information making it possible to follow the evolution of a company and of its performance. These indicators must be reliable, homogeneous, and consistent, so as to be used as decision support tools. Young managers must be aware of this challenge, in order to ensure their competitiveness in a globalized market. Also, a company must constantly adapt to regulatory and normative requirements, hence the need to integrate the concept of corporate steering.
Badr CHAOU
