The pressure to succeed in today’s market is ever present. In many hyper-competitive work environments, companies are looking in every direction to gain any possible edge. Yet everyone is operating with access to the same information.
Some company leaders respond by attempting to centralize decision making in an effort to gain tight control over the rapidly and constantly changing forces that influence business outcomes. Others have learned a key lesson—centralizing decision making is often the worst thing you can do to improve performance because of one simple truth: control is an illusion.
So, how do you succeed without overreaching for control? Generally, you do everything possible to maximize the probability of success without control. But how? A good place to start to look for tips and best practices is the 2014 list of Most Admired Companies. Great companies do five things, consistently. They:
Increase discipline: Discipline is a critical component of sustainable success without control, and is a key to increasing its probability. First, companies that succeed are meticulous in planning the work and working the plan. But an often forgotten element of discipline is also the ability to adjust. Amazon is a master of discipline. In fact, they have developed a reputation of adjusting before others. Bezos’ ability to envision and adjust ahead of the market is set to be proven yet again. Learn how to adjust before it’s your only choice, and you will be ahead of the game when it comes to discipline.
Increase support: Companies that succeed over the long haul understand that their employees are their most important asset. Accordingly, firms that choose to invest in these assets by supporting their employees will get great returns. Starbucks sets a great example of support by innovating around employee education and benefits policies. Practices such as these attract a motivated, loyal employee base. Informed and motivated employees don’t need to be controlled. Encourage and enable your staff and you, too will unleash talent in your organization.
Encourage creativity: I propose that creativity is actually the ability to manifest, or create, the future. Another key to success without control is for companies to ensure they are aligned in everything they do. Is there a direct correlation between what they say and what they do? Whole Foods succeeds in this arena, by connecting what they say and write with what they do. Their senior leaders have also been very transparent about what they think and what they feel. The Whole Foods team is raising the bar when it comes to paving a new road for how we do business. Is your organization connecting what it says to what it does?
Encourage insight: The development of insight is one of the most valuable investments you can make, both personally and as a business. Confidence comes from understanding who you truly are. Forward thinking businesses are offering mindfulness programs to their staffs. Google’s popular meditation course Search Inside Yourself has been wildly successful. They clearly see this investment as a valuable part of their growth strategy. Offering programs of this sort will help your company tap into a powerful resource.
Reinforce values: Values are the foundation of relationships and of sustainable success without control. When people can connect to their values, and connect their values to their company’s values, the coherence that results can fuel a stronger commitment to the company’s success. CostCo’s focus on a concise code of ethics makes for an easily communicated value statement that shows in every phase of business. Are your organization’s values known to all? If not, consider a new communication strategy to get the message out.
Taken together, these five steps will both unlock the potential in your organization and lead to sustainable success without ill-advised overreach for control. Use this guidance to help make good choices with customers, costs, and financial capital while you stay knowledgeable about competitors and be an active, positive force in your community.
Following this roadmap won’t guarantee that your company will be added to next year’s list of Most Admired Companies, but it will absolutely help your company maximize the probability of sustainable success without control.
It’s the best you can do.