Peter Drucker, one of the leading experts on management theory, wrote:
Because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.
He also wrote:
Marketing is not only much broader than selling; it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of its final result, that is from the customer’s point of view. Concern and responsibility for marketing must therefore permeate all areas of the enterprise.
In this article I focus on your Powerbase as a leader and give insights into the effect of the gaps we have and suggestions on how to fill them.
All leaders have a powerbase, here I have suggested our powerbase has four elements. If we accept this we can measure ourselves against them, discover what is missing and work to fill the gaps through learning the missing element or by making sure someone in our team has the missing piece.
Whilst the elements may be subjective, the point I want to make is that non of us are perfect and we probably have gaps in the skills or characteristics required to achieve the challenges we face. Accepting we have gaps shows we are half way to filling them. See how you do or put names of those you have come across who fit the shortcomings and have not accepted the fact so not done anything about it.
This applies to leaders at all levels of the organization. The Complete Set
What do Michael Jordon, Muhammad Ali, and Roger Federer have in common?
All were arguably the best performers in their chosen sport. All were 100% focused on their goals. And ALL had Professional Coaches.
Their Coach would be listening to what was said about the latest performance, and suggesting changes. The recipient would listen, question, trial the changes in training sometimes adding their own contextual adjustments. The net result would be a better performance.
I have been informally coaching executives for over 30 years, and before getting into any detail I always ask, why they want to be coached:
This is the third and final article written for the Institute of Directors way back in August 1991. I have not updated the stats for authenticity purposes. I hope you agree that it is as relevant today as it was in 1991.
Are you worth your asking price?
So far in this series of articles, we’ve established that continuous learning is vital and thinking has to be taught, if learning is to be taken effectively into the workplace. But what about the attending costs and benefits of this line of thinking?
Current statistics show that there is continued growth in the small to medium-sized company sector. Figures from the Institute of Directors show that of some 2.7 million companies in the UK, only 8,900 have more than 250 employees and around 50 per cent of the working population are in organisations that have less than 100 people. These companies, typically, are those without any specialist human resource facility – or certainly without anyone dedicated to people development.
I have always struggled with mission statements, finding them in the main pointless. I once asked a group of executives if they could quote their mission statements. Not one offered to even have a go.
When creating a Vision, Mission and Values, I adopt the following, which has always worked, both emotionally (buy in) and literally (results)
Beginning with the vision, making clear where you are headed is key to all employees. If they are not clear where they are going they are more likely to get lost!
For the vision to be believable, and gain buy, in it has to be achievable. Conquering World markets may take a tad longer than conquering National markets, which in turn may take longer than Regional and so on.
I have found that 2 to 3 year Visions are more appropriate to start ups and fledglings. A lot can change for a start up in the first couple of years and this necessitates flexibility.
Having clarified the destination I find it helpful to visualise this as a FLAG. It is a future goal which we should all be headed towards.