10 Elements of a Successful Company
There are certain definable qualities highly successful organisations have in common. Extraordinary companies do ordinary things extraordinarily well. Some do better in certain areas than others. These characteristics often overlap. Any one affects all the others. It is these universal distinguishing characteristics that separate a good company from a great company.
None of the qualities we’ve identified are necessarily more important than another. They are symbiotic as well as synergistic. They distinguish the world-class company from all the rest. Together, they create the culture of the organisation.
Buckminster Fuller said, “Integrity is the essence of everything successful.”; And integrity is the bedrock of a world-class company. Without this solid foundation, even the strongest pillars cannot support the business. A weak pillar/support weakens the entire structure. Conversely, strong pillars/supports helps to support weaker ones.
Integrity means wholeness. It demands honesty and dependability. No company can endure without firm underpinnings. And these underpinnings must incorporate the core values of the company. In the end, what you stand for depends upon what you stand on.
Here are the ten pillars or supports of a winning company. Have a think about each section and rank you and your company out of 10, with 10 being the best you can ever imagine.
1. Communication
One definition of business is ‘a network of communication against a background of relationship’. Great companies operate with exceptional communication. They tell the truth with compassion. They create more light than heat. All communication-
internal and external-is honest, clear and on purpose.
2. Mission
The values and the mission of the company are not only known and articulated, but also demonstrated day in and day out. Every person, with every interaction creates a ‘moment of truth’; that reflects the company’s core values and furthers its
mission.
3. Relationships
A company is its people. And a great company puts people first. It is people-driven. It embodies a community of dedicated, trusted and talented people. It has the right people in the right jobs. There is an attitude of cooperation. You can feel it.
4. Authenticity
Uniqueness and individuality not only enables a company to stand out from the crowd-it is an integral part of its personality. It’s the company’s identity, character and position.
5. Vision
Employees, customers and stakeholders want to be part of something bigger than they are. They want to know where they’re going and have a picture of what’s possible. An empowering vision is the mission personified.
6. Customer-Driven
Without the customer the company cannot exist. Providing the customer with what they want, doing it consistently and dependably is essential to creating and maintaining a world-class company. Always delivering what you promise-and even
more when you can-is the hallmark of the customer-driven company.
7. Stewardship
All great companies see taking excellent care of present and future resources as a sacred trust. These resources include-but are not limited to-people, capital, tools, equipment, the environment and intellectual properties. A company has an obligation to care for and to not squander any of its assets.
8. Stability
The world-class company should be one that can endure 100 years-preferably longer. To do this, the organisation must be able to preserve core values but be willing to change cultural and operating practices, goals and strategies. Dependability and consistency are paramount.
9. Production/Productivity
There’s no business unless someone DOES something. The ability to produce and do so effectively and efficiently is essential in creating quality products and services and maintaining growth.
10. Excellence
Excellence is more easily experienced than described. You know when it’s there and you know when it’s not. A commitment to constant and never-ending improvement is evident in every organisation that has earned the right to be seen as world-class. A great company brings all its resources to bear in delivering impeccable quality products or service. They maintain severe standards of excellence.
The list above is only an overview of the universal distinguishing characteristics found in world-class companies. Based upon this summary, are you where you want to be? If so, hats off to you. If not…what are you waiting for?
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With thanks to Michael Angier, Successnet.org
