Growth tips 30 seconds to business enlightenment.
- All
- Customer
& Sales -
Leadership &
Management - Marketing
& Strategy - Productivity
& Execution
Jim Collins on how to deal with turbulent times
26-Mar-2009
Jim Collins, the best-selling author of the books “Built to Last” and “Good to Great” was interviewed recently in Fortune magazine.
His current research project is about companies who were once vulnerable in turbulent times - that went on to attain greatness.
Here’s a summary of the key points Jim made in the interview about how these companies got through the tough times:
CORE VALUES:
“Companies like Proctor & Gamble, General Electric, Johnson & Johnson, and IBM had an incredible fabric of values and principles that explained why they existed.
P&G said a customer will always be able to depend on the fact that a product is what we say it is - we will always build our reputation on quality. When they were under pressure to start cutting corners or use cheaper ingredients, they just didn't do that.
What matters is that you actually have core values - not what they are. The more challenged you are, the more you need your values. You need to preserve them consistently over time.
RIGHT PEOPLE:
These companies that went through the Depression understood that it was the caliber of their people that would get them through.
As a rock climber, if there's a storm on the mountain - the people you have with you are more important than the plan.
Those who panic - die on the mountain. You don't just sit on the mountain. You either go up or go down, but don't just sit and wait to get clobbered. If you go down and survive, you can come back another day.
The right people don't need to be managed. The moment you feel the need to tightly manage someone, you've made a hiring mistake.
The right people don't think they have a job - they have responsibilities. The right people do what they say they will do - which means being really careful about what they say they will do.
FACE THE BRUTAL FACTS - BUT BELIEVE YOU WILL PREVAIL:
Believe that you will prevail, but also do not be the Pollyanna who ignores the brutal facts.
You have to say that we will be in this for a long time and we will turn this into a defining event, a big catalyst to make ourselves a much stronger enterprise. Our characters are being forged in a burning, searing crucible
Our results are our responsibility. People who take credit in good times and blame external forces in bad times do not deserve to lead. End of story.”
Sign Up For Growth Tips
To ensure your Weekly Growth Tip does not end up being blocked by your spam filter make sure that you whitelist info@RESULTS.COM in your e-mail and with your ISP.
Follow Us
At your weekly management meeting (you do have one don't you?) - share the latest Growth Tip with your team and ask the question: "How can we apply this information in our business?"
Commit to taking some form of action. You will be glad you did.
Comment