The
Financial Times reported this week that "if the International Monetary
Fund's latest forecasts are right, then meaningful growth looks set to elude
Britain for another two years." So stagflation is here to stay.
I've
been listening to Jim Collins' 2011 book 'Great by Choice' and the results of
this research are fascinating. The sub-title is 'Uncertainty, chaos and luck –
why some thrive despite them all' and, following his standard research
approach, Jim (together with his colleague Morten Hansen) looks at truly
successful businesses and compares and contrasts them with a direct competitor
which they have out-performed by a factor of at least ten times over a defined
period. I'm only half-way through the book but what is already apparent is that
the successful examples are, to a great extent, the result of having a great or
enlightened leader. He talks about three common elements: Fanatic Discipline,
Empirical Creativity, and Productive Paranoia but comes back to an individual
that led the business' approach and made a real difference.
The
early part of the book is a captivating comparison of the attempts by Captain
Scott and Roald Amundsen to reach the South Pole. He argues and
demonstrates that they were both operating in similar environments but that the
difference was their approach both before and during their expeditions. For
Amundsen it was a race to victory and a safe return home while, for Captain
Scott, it was a devastating and tragic defeat. Events that date back to 1911
have some strong and powerful lessons for today.
If
we're in a prolonged period without growth then the approach we take to our
roles and to our businesses will determine the outcome and – wherever we sit
within an organisation – we can have an impact and have to choose whether it
will be positive or negative. I know I'm currently looking closely at what I
need to do differently in the months ahead.
When
it comes to great leaders, there's been a huge amount written following the
recent death of Margaret Thatcher. It's been interesting to listen to
commentators and contemporaries, some of whom are great supporters and others
vociferous detractors, all share one view. She was passionate in her beliefs,
she was fiercely loyal to her country, and she has left a lasting legacy on
British politics. In an era when bland sound-bytes and immediate short-term
company results are too often the focus, real leaders are few and far between
and we need more of them driving us back to growth.
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