Growth & Leadership Insights

Assessing Opportunity Risk

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All progress involves risk. Nothing significant is accomplished when the objective is to minimize risk. Of course, determining if the risk associated with an opportunity is reasonable requires an evaluation of its expected benefits. Risk and return. But there’s one more consideration. These 3 steps help assess if an opportunity risk is reasonable: Value the projected benefits of taking the risk and the probability of realizing them. Is that probability low (25%), medium (50%) or …

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3 Ways That Dialogue Enables Commitment

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Teams cannot commit to a goal, strategy or action without understanding why it’s important to the business and to them, and why it’s the best way forward. Leaders enable this insight to emerge by fostering dialogue with their teams. To ensure that this dialogue is productive, consider these suggestions: Seek to learn rather than persuade. As leader, though your experience may convince you that the best way forward is obvious, resist the impulse to save …

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The Improvement Journey

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Every innovation or improvement effort begins by defining the problem. In addition to describing it, this definition should answer a few questions: How serious is it? How urgent is it? How costly will it be to resolve? While soliciting stakeholders to collaborate in resolving the problem, it’s important to confirm that everyone agrees that there is a problem, and that it’s solvable. Some may see the problem as a condition that cannot be resolved, that …

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Strengthening Cultural Capital

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Businesses are living entities, communities with cultures built and nurtured by all those whose energy and commitment have produced your company’s progress. Culture binds your employees to one another, and to the company. It enables the execution of strategy in pursuit of shared goals, and the creation of value for customers, the business and each other. Culture is how things get done. Increasingly, culture is recognized as a primary source of competitive advantage and business …

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Assessing Value Creation Posture

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Creating value is the work of leaders. After multiple years of adapting to relentless economic disruption, considering questions like these can help assess the qualitative aspect of your efforts, your value creation posture? • What do we own in the marketplace? What is our most sustainable competitive advantage and how do we preserve it? • How can we more quickly and accurately interpret and adapt to changing customer or market needs? Do customers value what …

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Nurturing Trust

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We know that trust is the basis for all enduring relationships. Trust is personal and intimate. It’s fragile and requires nurturing. For your customers, the depth of that trust is dependent on more than the reliability of your offerings, or even the fulfillment of your promises. It fundamentally depends on how well your people create a human connection with your customer’s people, providing a personal touch that becomes a vital differentiator when your customer has …

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Taking Ownership

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For customers, it’s the first person they contact who creates that critical first impression of your business. If that person listens more than talks, probes to learn more about what the customer needs,and takes ownership for resolving that need, then it is likely that the customer will welcome the opportunity to build a trust relationship with your company. Recognizing that trust can only take root once your promise to the customer is realized, taking ownership …

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5 Strategy Execution Attributes

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Executing a new strategy involves acting in a new or different way; it’s a change process. Because the strategy is a change, there will likely be some resistance to it. Those who will implement the strategy, and those impacted by it, want to understand its objective and why this is the best way to achieve it. They will assess how well the strategy aligns with company culture, and how they will personally be affected by …

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Problems Shape Leaders

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Leaders grow stronger, becoming more effective, as they collaborate with their teams to overcome obstacles and solve problems that improve results. As Warren Bennis once stated: “Leaders learn bestby leading in the face of obstacles. As weather shapes mountains, problems shape leaders.”Leaders develop their teams to meet the required challenges, and deepen their own competency, by: Earning the trust of their teams. They walk the talk, keep promises and lead from the front, engaging with …

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Pursuing Innovation

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Pursuing innovation doesn’t compel us to understand the future, except to recognize that future business sustainability relies on our relentless awareness of how customer needs and goals are evolvingover time. Successful innovations create value for customers, strengthening those relationships, while improving differentiation, increasing revenue, reinforcing company culture, and boosting employee pride and satisfaction.Only the largest of organizations can afford to invest specific resources in innovation; but innovation is a must-have” for all businesses to drive progress and secure sustainability, so: …

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