- They don’t have a complacent mindset. They consistently look for ways to improve and they don’t cocoon themselves by past successes.
For example, a successful client of mine in the auto service business recognized that they needed to innovate. Right at this very moment they are just putting the final touches on a complementary service package. This will help them further their ability to provide one-stop-shop service, which is wonderful.
- They are people-focused. They recognize that the success of the company hinges on people. They hire the best they could find. For high achievers, they would create unique jobs for them, matching the expertise and aspiration of the individuals. It certainly is a great way to retain talent.
For example, an excellent project manager had reached a plateau in his career in the engineering department. He was considering leaving the company for a higher pay position. The company didn’t want to lose him. So it created a new position which allows him continue to practice project management but with the added responsibility to review capital project funding requests. He was happy and excited about the growth opportunity.
- They have structured flexibility. Let me explain what that is. It is autonomy with discipline. The discipline part is important. The lack of it causes problems for technology adoption.
For example, local offices of a national construction company have full flexibility on how and where they purchase equipment. However, the company has standard guidelines on purchasing thresholds and approvals, an approved list of vendors, and payment terms. The decentralized model has worked well for many years but the company noticed that they were not leveraging their purchasing power. In order to benefit from the economies of scale, the company decided to centralize their purchasing function. The purchasing guidelines helped them make an easy transition to a new system, allowing them share data across the country. Without the guidelines, it would have been much more challenging to adopt the new system. Therefore, structured flexibility is very important and it is necessary for long-term success particularly with technology adoption.
Are you doing anything different in these areas? Please share your thoughts in the comment box.
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