World Monitor Magazine April 2017 - Page 109

additional content economy. After the 1992 Olympics in Barcelona, a group of local political and business leaders realized, with some disappointment, that the event hadn’t triggered the economic growth they had expected. So they resolved to change the region’s economy in other ways. Led by the mayor, the group created a common base of technologies and practices and set up training programs for local enterprises. By 2014, after two decades of persistent effort, the city had become a hub for research and technology companies. One legacy of the Olympics is a group of about 600 sports-related companies with a collective annual revenue of US$3 billion and 20,000 employees. In carrying out this first principle, the top executives of your company must lead the way. They must learn to set lofty goals, establish a clear message about why those goals are relevant, and stick to them without compromise. This may take a while, because lofty goals require patience. You need to persevere without lowering your standards, and the confidence to believe you can reach the goals soon enough. Leaders must demonstrate that courage and commitment, or no one else will. At the same time, don’t be surprised if the rewards start to appear sooner than you expect — both financial rewards and the intrinsic pleasure of working with highly capable people on relevant projects. With high aspirations (for example, IKEA’s goal of “creating a better everyday life for the many people” or Amazon’s self- proclaimed role as the “everything store”), you recruit talented people who are deeply committed to being there. That’s one way you’ll know that you’re aiming high enough: The whole organization will start to feel like a better place to work. 2. Build on Your Strengths Your company has capabilities that set it apart, things you do better than anyone else. You can use them as a starting point to create greater success. Yet more likely than not, your strongest capabilities have been obscured over the years. If, like most companies, you pursue opportunities that crop up without thinking much about whether you have the prowess needed to capture them, you can gradually lose sight of what you do best, or why customers respond to it. Take an inventory of your most supported by EUROBAK 105