Management Today
"impressively comprehensive...
a thought-provoking peek at what the future of corporate leadership might be"
Stephen M.R. Covey
“Keep making the difference with the great work you're doing and keep inspiring trust in all of society"
|
|
I must admit I'm not a great reader of business books - to be honest when we started Virgin almost 40 years ago now we totally ignored the established business theories and strategies and struck out determined to do things differently. There weren't any business books where actual CEOs, from a range of different businesses, shared real experiences and lessons learnt, with people just starting out. I wish there had been - perhaps I might have saved myself a few headaches along the way!
Let's face it the world is constantly changing - no big surprise there - but the sheer pace of that change can be staggering, confusing and down right terrifying at times. Steve and Andy have identified the new facts of life that most businesses are hit by on a daily basis, especially hard globalisation, sustainability and the war for talent. The developments on the internet, particularly when it comes to reaching out to your customers with new and interactive content, fascinate and totally baffle me. I hadn't gotten my head around web 2.0 when someone in my team told me not to worry about it: “that was yesterday - today we're looking at web 3.0”! |
|
 |
Hard globalisation is a reality for Virgin: I have always had the dream that Virgin would one day become one of world's most respected brands. As we expand outside of the UK across America, India, Australia, Asia and the Middle East, I feel that dream is getting closer to becoming a reality. But hard globalisation brings with it very specific challenges - Steve and Andy highlight many of these - and all businesses need to be aware of their global footprint.
One of the most impressive developments within businesses today is the belief that to truly become a successful, thriving company (whether that be a company of 10 or a global company employing 50,000 people) you have to place corporate responsibility and sustainability at the heart of your business. As recently as ten years ago this was unheard of - every large business had a charitable foundation but this was seen very much as a 'nice to do' rather than a core strategy within your business. Customers expect the companies they are purchasing from to act in an ethical, sustainable way - as business leaders it is crucial we repay that trust by going the extra mile to ensure best practice at all times. On a global level, the behaviour of people, industries and enterprises has immediate and often long-term effects on our world. If mankind makes a mistake, it can be catastrophic. I believe that it is up to companies like Virgin to lead the way with a holistic approach to business - it was this belief that led me a few years ago to pledge Virgin Group's profits from our transportation businesses over the next ten years (approx. $3 billion) to clean energy initiatives. I hope, through the strides forward that our airline and transport companies across the world continue to initiate, trial and invest in, successes such as our most recent bio- fuel trails on Virgin Atlantic and Virgin Trains, that other airlines and transport businesses will also follow suit. When all businesses put sustainability at the heart of what they do we will see a radically positive change in the impact we have on our planet - I believe that day is not too far away.
I was heartened to read Chapter 12 of this book - for a long time I have been drawn to the Gaia Theory, an hypothesis formulated by James Lovelock almost 40 years ago, which states that the earth is a living entity, like a single cell; this way of thinking can apply to business too. I have never been a fan of command and control and believe that Steve and Andy's model of a cell-like organisation could be a really powerful way of running a business in the future. I have always believed that one of my strengths has been my ability to trust the people around me 100% and to be able to truly delegate responsibility to the managers of our business. You cannot expect those who you rely on to run your businesses every day to truly put their neck out and go that extra mile if you do not give them a sense of ownership. Let them make mistakes, support them through the bad and the good times and above all install in them a sense that your business is their business – and, most importantly, mean it.
In a business your people are everything - without them you don't have a business! Steve and Andy touch on this very point throughout the book, whether that is delegation, ensuring you encourage creativity and innovation or simply letting your hair down with your staff and having some fun! I can hand on heart say I am only one of many entrepreneurs at Virgin - we employ like-minded people who love to innovate and challenge the norm - to quote my good friend Stephen Murphy, who you'll hear a lot more from in the book: "we employ rock climbers, not people who need ladders". At Virgin it is this creativity and the ability to challenge the norm that marks us out from the rest and ensures we continue to grow. Employing the best people who will not only be loyal to your company but are also not afraid to challenge it when things become a bit staid is the best way to ensure you stay ahead of the curve.
Last but not least, as I mentioned above, at Virgin we not only know how to work hard but know how to party hard! It was great to see that many of the other CEOs Steve and Andy interviewed remind us that working is meant to be fun. We spend most of our lives working - what a shame it would be if you're spending that time doing something you hate. Even when things get a bit rocky, you can still learn from the experience. If you’ve had a bad day or week, take the team out and have some fun - it’s amazing how a little downtime gives you a new perspective on what you thought was an insurmountable problem.
Naturally, and mores the pity, it can't all be party, party, party so check out Chapter 13 on building a career. I agree in the future the best thing is not to be limited by traditional corporate careers but to be clear on what you want from life and get as much varied experience as you can pack in! For me I still get some of my best and most memorable experiences from setting up and launching new businesses around the world - that's probably why I can't stop doing it! I was glad to see that Steve and Andy recommend this as a great way to learn.
I'll end as Steve and Andy do, by asking – “why not you”?
Read and enjoy...
Richard Branson
July 8, 2008
|
|
