Tag Archive vision in business

business planning for leaders to ensure success by Richard Gourlay

Great LEADERSHIP is all about your VISION

Great LEADERSHIP is all about your VISION 

Having a Vision for your business is the most important leadership trait for a successful leader to have. For leaders to lead they must have a strategic vision for their business. A clear future state they want to achieve. One which provides not only an optimum place within their market they want to be; but one which inspires, motivates and drives the organisation to achieve.

Great leaders may be charismatic, they may even be likeable, but for them to be successful they must be able to communicate and inspire others through their vision. A vision is a future place within tomorrow’s market.

Leader’s must create a vision which is not only aspirational for themselves but motivational for the all stakeholders.

A recent survey of 1,439 chief executives and senior HR people from 707 organizations across the globe found that the outstanding trait of successful leadership is the ability to create and communicate a VISION. This is the single most important characteristic for success. Amongst those interviewed it scored an impressive 92% amongst such high level people in business. This demonstrates just how important a characteristic this is in creating a successful leader.

“Without a clear vision no leader can succeed today in business”

#business #planning #business #successfully by Richard Gourlay

Business planning is vital to succeed: start with your #Vision.

Creating a VISION

Creating a vision is not easy. Leaders are busy people fighting to keep their business on track, dealing with day-to-day issues and making decisions based upon facts and figures. That last point is therefore a real challenge for leaders in developing a vision. This is because there are no facts and figures about the future. The future, by definition is unknown. Instead leaders must rely upon a range of forecasting tools, gut feel or by benchmarking others to develop their vision of what the future might look like.

Each of these are fraught with danger and risk, both in terms of making decisions based upon inaccurate perceptions or damage to their credibility as a leader. Following others through benchmarking is always the safest option for leaders, but it limits them to be a follower within any market sector, rather than to lead it from the front within their sector.

Sustainable Competitive Advantage is about creating and sustaining leadership within a market, how Dyson trumped Hoover in achieving success.

Growth is painful, change is painful but nothing is more painful than staying stuck somewhere you don’t belong

Dealing with Change.

For leaders to lead, they must be able to deal with change. Change happens in-perceivably until it is obvious. Every day we grow older but it is only when we look back we see how we have aged. The same is true in any market. Even when change driven by disruptive new entrants, the change that enables new players to enter is caused by changes within a market. Change is everything, the key drivers which create new opportunities are areas which leaders need to keep aware of and proactively respond to.

Change is the only constant in any business. The market is always moving either through Macro factors or through Micro factors. Good leaders need to be continually monitoring both and understanding their impacts upon their business, their customers, their channels to market and value perceptions of their brand.

Leadership is about dealing with change.

#Change is always happening, the impact of change is huge but imperceivable day-to-day, unless leaders keep monitoring it.

Challenges for Leadership 

Failing to validate then create and deliver a clear mission towards the delivery of a vision, is the single biggest single reason chief executives fail.

Leaders have to carry people with them for their vision to be brought to life. Poor communication skills are at the heart of why visions fail to succeed. Leaders must be able to create, verbalise and rationalise to others their vision to generate buy-in and carry their senior people with them. For a vision to succeed leaders have to build relationships. This starts in developing trust in their future and develop a team culture all working towards that vision. The inability for leaders to invest in developing their vision often results in the lack of trust and development within the senior team.  This failure to develop leadership soft skills, is a major area leaders must invest in to improve their effectiveness as a leader.

Leadership is a balance between science and art. Creating a vision is often seen as an art, but for a vision to connect with senior stakeholders visions require a scientific rationale. It is the old adage we buy with the heart and justify with our head. A solid vision is both a visual message but one backed up with both direct and indirect evidence of that future state in which the leader’s vision sits.

Key Communication Skills

The importance of being financial and operationally literate to the CEO role is always seen as core leadership skills. These hard skills are often key drivers of leadership assessment. Which is why so many CEO’s come from finance and operations leadership backgrounds. Today these competencies are seen as important for any CEO role.

In todays’ business environment CEO’s are being selected based upon having a demonstrated track record of delivering strategic vision. The ability to inspire others through delivering a strategic vision is now being seen as the most important track record for successful leadership.

Succession Planning 

The importance of succession and smooth transition is becoming more important element for successful leadership. With the exception of the sudden changes, such as BP’s sudden need to be seen to change direction in response to disaster events, companies today are investing time and effort in succession planning. Well planned succession planning ensures long-term shareholder value and the ability of avoiding the football management culture of overnight change. The leadership teams ability to develop successors who are able to support and follow through a vision is becoming an integral part of the CEO role.

Business leaders all recognise that talent management plans, including succession management have become essential for sustained performance in today’s organisations.

If you want to develop your company’s position then there needs to be a clear vision for it. Vitally answering the questions where it is going and why? If your are looking for some advice on developing your company, its marketing, its sustainable competitive advantage then contact us at Cowden Consulting. Let us see how we can assist you, or read more about us in this blog or at Cowden Consulting.

Or learn how to plan your business successfully see our video to learn more:-  http://www.cowdenconsulting.co/uk

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Cowden Consulting is a strategic planning and implementation business which enables customers to grow and develop their business.

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Strategy the leader's role book by Richard Gourlay

Do you have a vision or are you just a dreamer?

Leadership starts with  a Vision

No matter how big or small your business is without a clear vision of where you are going owners and directors often fall into the classic trap of just managing from day-to-day. A business needs great leadership, and for that they need to create a clear business vision, which will make and deliver longterm leadership success. Customers have choice by Richard Gourlay , Cowden Consulting.

Envisioning the Future

Leadership is about investing time, envisioning the future and effort to see into the future and imagine how things could be, is as important for success as having real passion for the business and the determination to create something new. These three personal qualities of leaders are vital for successful companies and a vision statement, sometimes called “a picture of your company in the future”, but it’s so much more than that.

Vision Statement

Your vision statement is your inspiration, the framework for all your strategic planning. A vision statement may apply to an entire company or to a single division within that company. The vision statement answers the question, “Where do we want to go?” What you are doing when creating a vision statement is articulating your dreams and hopes for your business. It reminds you of what you are trying to build. A vision statement is for you and the other members of your company, not just for your customers or clients. Visionary goals should be longer term and more challenging than strategic goals. Collins and Porras describe these lofty objectives as “Big, Hairy, Audacious Goals.” These goals should be challenging enough so that people nearly gasp when they learn of them and realize the effort that will be required to reach them. Most visionary statements fall into one of the following five categories:
  1. Targeted – quantitative or qualitative goals such as Nike: “To bring inspiration and innovation to every athlete in the world” “If you have a body, you are an athlete.”
  2. Common enemy – focused on overtaking a specific firm, becoming the number one in that sector, such as Amazon: “Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”
  3. Role model – to become like another in a different industry or market, the mirror role, Victoria Beckham (Posh Spice) “Right from the beginning, I said I wanted to be more famous than Persil Automatic”.
  4. Internal transformation – creating internal vision, GE set the goal of “Becoming number one or number two in every market it serves”
While visionary goals may require significant stretching to achieve, many visionary companies have succeeded in reaching them. Once such a goal is achieved, it needs to be replaced; otherwise, it is unlikely that the organization will continue to be successful. The second most dangerous place for a company is to have achieved its only goal, the most dangerous place is never to have had one.

Creating Your Business Vision

Simple steps to creating your vision, ask some simple questions:
  • What will our business look like in 3 to 5 years from now?
  • What new things do we intend to pursue and how?
  • What future customer needs do we want to satisfy?
Write the answers down and focus on developing them into a coherent, motivational and purposeful message which can connect with everyone. Then Question:
  • Does our vision statement provide a powerful picture of what our business will look like in 3 to 5 years from now?
  • Is your vision statement a picture of your company’s future, which everyone can interpret into their role?
  • Does it clarify the business activities to pursue, the desired market position and capabilities you will need
If your statement answers these questions then you have a vision worth owning and sharing. A vision must be motivational to everyone inside an organisation. The classic apocryphal story to demonstrate the effectiveness of great visions is about the time President Kennedy visited NASA. During one trip he came across a cleaner sweeping the warehouse floor, and asked him what his job at NASA was. The cleaner replied “My Job is to put a man on the moon, Sir.” Now I don’t know if the story is true, but it’s inspiring. In a facility full of high-powered individuals and great minds, even the cleaner was completely on board with the strategy. While you may not be planning to put a person on the moon, we can learn a lot from the story. It may sound ridiculous, but every business needs to be a little like NASA.
Great visions can create an unstoppable company
Every organisation needs to have a clear vision, owned by everyone inside and outside it. An owned and shared vision creates and sustains great morale and internal strength for companies, which can become a powerful and unstoppable force in any market no matter how competitive. At Cowden Consulting we focus on ensuring companies can successfully compete in their chosen or desired market. Like to learn more then get in touch with at Cowden Consulting. Or learn more about creating your vision and how to lead your organisation with a clear strategy, but my book: click this link or the book cover below Strategy the leader's role book by Richard Gourlay

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