In my blog, Leadership Excellence – Can it Be That Simple? I shared the concept of calibrating team interaction as we would an instrument of measurement.
A key priority emerging is the importance of having a well-defined CORE (Central Operating Reference Experience) that includes Purpose, Vision, Values, Needs, Markets, Competencies (to name a few). When your CORE is well defined, there is no interpretation or misunderstanding around focusing on the future. The organizational orientation is clear.
In working with leadership teams, I have learned that organizations grow through development stages just like people do. Actions bring about reactions and changes that expand growth and open up a whole new level of awareness. Keeping your CORE stable is important, but allowing yourself to calibrate (evaluate, shift, adjust, tweak and make changes based on learnings and key data) will really open up opportunities for greater expansion.
Keeping your CORE strong and stable is a must in this climate of ever changing markets, developing technology, and consumer demands. This is true for all businesses, and especially family businesses where a strong core within the family business can guide the multiple generations through a grounding event that has brought stability to the family, the business and the families dependent on the health and vitality of the family business. With current statistics of only 10-12% of second generation transfers to the third generation being successful, this idea to continue to build on what the previous generation developed is essential to the future success of the business. Hence the CORE foundation definition is critical for the next generation to be successful in responding appropriately to the developmental needs of the organization.
So my question to you is: IS your CORE elements well defined? Does it provide the flexibility to move effectively in a changing economic environment? What about your CORE is keeping you awake at night?
Is it time to take a look at your CORE and work to provide the balance you need?
Terry Schaefer offers a complimentary 30 minute call where you can explore how to grow your business past your own expectations.