Weekly Blog by Philip King, CEO of the ICM - 'The value of true leadership'

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.

Weekly Blog by Philip King, CEO of the ICM - 'Out on the fringe'

I've spent the last few days at the Labour Party Conference in Manchester and, next week, I'll be in Birmingham with the Conservatives. The conferences represent a great opportunity to meet and network with business and lobby organisations, MPs, and others but - to be truthful - I find them a bit depressing. Some of the fringe events are interesting, and I've heard some fascinating debates and arguments, but I'm far less impressed by the main conference sessions.

Now before I am accused of being partisan, I'm not suggesting any one party is better or worse than the other, and I understand that politicians are playing to an audience which is largely comprised of very passionate and committed party faithfuls who hang on their every word, but I honestly don't want to listen to a litany of all the things that the 'other parties' have done wrong, how misguided they are, and how they should be ashamed of themselves.

What I want to know from the party in opposition is what they would do to address the issues they see as being important, in specific and detailed terms, so that I can form an opinion as to how realistic their plans are, and how I believe they would perform if they were in power. What I want to hear from the governing party is how they're going to address things that aren't working quite as they'd wanted, how they're going to modify their plans to get things back on track, and where those plans will get us.

The optimist in me says that I'll be more impressed next week; the realist says I doubt it and my depression at British politics will deepen!

Weekly Blog by Philip King, CEO of the ICM - 'Substance over form'

Am I alone in getting increasingly frustrated by politics taking precedence over substance? I've been listening in recent days to the spat between Adrian Beecroft and Vince Cable about the former's report on employment law, with Chuka Umunna's contribution adding plenty of fuel to the fire.  My frustration is that there has been very little talk about the detail of the report with most of the debate focused on whether or not Vince Cable should be called a socialist, and whether Adrian Beecroft's background (he has a career in private equity and is a substantial donor to the conservative party) makes him even the right person to write the report.

All very interesting and media worthy but what I'm more interested in is the content of the report, the recommendations it makes, and how they might – or might not – benefit the economy.  Sadly, the real detail and its potential impacts is conspicuous by its absence from most reporting.  I've downloaded the draft of 12 October 2011 and the published version of 24 October 2011 to my Kindle and will have a read through over the next couple of days.  I'll be able to draw my own conclusions then and filter out the noise of the politics and rhetoric.

On a separate note, I've had some really interesting meetings this week and will be able to share more details in my blog next week.  In essence, I've seen a really good example of the Government working with the wider business community to deliver growth through tangible and practical support.  Sometimes Government has to create an environment in which something can be created and delivered without its direct and ongoing involvement.  I believe I'm seeing an excellent example of that, but more next time…