Like most people, I love it when my thoughts and ideas get some confirmation. The Monday, April 16 2007 edition of the Wall Street Journal had a section devoted to conversations with CEOs. In addition to the interviews, the articles summarized five tips from each CEO.
Many of the tips from these CEOs were directly tied to the ideas in my book 4 Secrets of High Performing Organizations. If you recall, the 4 secrets are:
- Clarity of purpose and direction
- Committed and engaged employees
- Skillful execution of the things that matter
- Mutually beneficial relationships with important outside constituencies.
Here are the tips from four CEOs. I’ve listed the secret or secrets related to each tip in parentheses after the tip. I’m doing this to provide examples of concrete actions – suggested by actual CEOs – for putting the 4 secrets into play in the organizations you lead.
Steve Bennet, Intuit
- Customer driven innovation wins consistently against technology driven innovation. (Execution)
- Great companies have innovation and rigor; they are complimentary, not in conflict. (Execution)
- Process is an enable to achieve an outcome; it is not the desired outcome. (Execution)
- Direct observation of employees and customers is the best way to understand what’s really going on in your organization. (Commitment, Relationships)
- Spend time with front line employees; they do the direct work that adds real value for customers. (Commitment)
Larry Montgomery, Kohl’s
- Listen to the customer. She has something to say every day. (Relationships)
- Foster a culture that inspires, supports and rewards great talent. (Commitment)
- Ensure that merchandising, marketing, operations and finance are integrated and have a high level of collaboration. (Execution)
- Create value for your customers, associates, shareholders, suppliers and the communities in which you do business. (Execution, Relationships)
- Make sure that you keep your sense of humor. (Important for all 4 secrets)
David Brandon, Domino’s Pizza
- Spend as much time in the marketplace as you do in your office. (Commitment, Relationships)
- Don’t ask people to do things you’re not willing to do yourself. (Commitment)
- Surround yourself with terrific people. (Commitment, Execution)
- Lead by example. (Commitment)
- Be able to change and change quickly. (Execution)
Ed Zore, Northwestern Mutual Life
- Understand what you’re really good at, and then get better. It’s important to know your core competencies, but that isn’t enough. New products have to fit your value proposition. (Clarity, Execution)
- Don’t chase fads. Innovation and expansion are important, but don’t be driven simply by the fear of sitting on the sidelines when everyone else is jumping in. (Clarity)
- Respect existing clients. Treat them well. Don’t add new customers at the expense of losing loyal ones. You keep and grow market share by delivering value over the long term. (Relationships)
- Mature doesn’t mean lack of opportunity. Market opportunities can be closer than you think. Are you doing everything you can do to leverage your existing footprint? (Execution)
- Stand for more than your products. In tough times, don’t compromise your values. (Clarity)
That’s it for today. Thanks for reading. Log on to my website www.BudBilanich.com for more common sense. Check out my other blog: www.SuccessCommonSense.com for common sense advice on becoming the life and career star you are meant to be.
I’ll see you around the web, and at Alex’s Lemonade Stand.
Bud
PS: Speaking of Alex’s Lemonade Stand – my fundraising page is still open. Please go to www.FirstGiving.com/TheCommonSenseGuy to read Alex’s inspiring story and to donate if you can.
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