Description

Many CEOs, directors and senior managers in business today
are focused on improving efficiency, making things work better
and delivering better customer service. They are working
extremely hard and think they are doing a good job. They are
not. This is because incremental improvement in the existing
business is not enough. In addition to improving current operations,
executives must spend time looking for entirely new ways
to meet customer needs. They should select and implement
different and better ways of meeting the corporate goals. In addition
to running today’s business, they should be starting bold,
new initiatives – some of which will fail and some of which will
succeed. Above all, they must encourage and empower their
employees and colleagues to take a creative and entrepreneurial
approach to exploit new opportunities.
Directors constantly strive to deliver increased shareholder
value by improving cash flow through efficiencies of scale and
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cost reductions. But there are strict limits to how much cost
saving you can make. In a global economy your competitors in
lower-cost countries can beat you at that game. The best way to
create value is to innovate your way ahead of the competition in
order to create temporary monopolies where yours is the only
show in town. You can do this by harnessing the creative power
of your greatest asset, your people. The goal is to turn them into
opportunistic entrepreneurs who are constantly looking for new
ways of doing business.