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Friday, 20 May 2016

Credibility today

We know that as humans we frequently purchase goods and services out of our emotions rather than rationality.

 

Also, our rationality as buyers is limited by the information we have about the product or service we want to purchase. Therefore, even though it’s difficult to admit it, our purchasing behaviour isn’t optimal but is satisfactory. In other words we end up purchasing a satisfactory solution to our problems rather than an optimal one.

 

Having said that, often even well-known companies believe that they can abuse their buyer’s bounded rationality!  

 

Here two examples of something that I have spotted recently: the first relates to the feedback I received in one of my Udemy's course. Under the tab Reviews there is a three stars rating. Below that it says: ''there are not reviews for this course''.

 

Udemy might argue that reviews and ratings are two different things, and it’s probably right. Yet, I believe this is not instantly clear to many Udemy's customers. It would be enough to change ‘reviews’ into ‘written reviews’.

 

 

 

Udemy2

 

 

The second example is a promotion I found in a grocery shop a while ago. As Italian, you can understand my love for espresso. Yet, I was a bit puzzled when I found this… the saving is not right!

 

 

Lavazza

 

 

Credibility today is an important asset for organisations, it gives them leverage.

 

A silly mistake is not a problem, actually gives customers a lough. Yet, it’s when organisations develop a wrong posture toward their credibility that eventually they start to lose it. 

What happens when your competitors can easily duplicate your product and the processes needed in order to manufacturing it? Practices as ‘reverse engineering’ are placing the sustainability of the competitive advantage of many organisations under siege.

 

Competing in innovation economies pushes the sustainability of your competitive advantage from tangible to intangible resources.

 

‘People: the heartbeat of sustainable competitive advantage’ is my attempt to highlight an important, and well ignored dimension of business strategy, the employees. Let me say that I prefer to name them ‘the people in your organisation’ because it’s more human.

 

 

This course focuses on the role that the people working in your organisation play in creating and maintaining sustainable advantage.  In this course you'll discover the advantage of engaging the people working in your organisation beyond complacency, inspiring them to bring their gifts of creativity, passion and initiative at work every day.

 

Ultimately in this course you'll discover your role as a leader. A leader creating not only a successful organisation but one inspiring people to perform exceptional work.

 

Exceptional work isn't written in a job description and it can't be bought, people do it as they feel inspired to do so.   

 

In a world where technology is replacing humans and their work, leadership has become the last source of sustainable competitive advantage.

 

Awake the leader in you. Your people, your customers, and we… need it.  

What does it mean to be a leader today?

 

What is the connection between the work of the leader and the sustainability of the competitive advantage of his/her organisation?

 

First of all, a leader experiences a shift in perception regarding the need of a customer. He/she is able to re-framing the understanding of a customer problem, or opportunity.

 

Second, the leader invites people to join a team of peers in order to transform an intuition into something real (innovation). The leader knows that the knowledge needed to do so is spread among different people.

 

In the process, the leader and the team create a culture.

 

Culture is probably, the most overlooked and valuable assets an organisation creates in its first weeks/moths of its life.

 

We can pivot a business model nearly on-demand. Unfortunately a culture is not made of post-its which can be removed and replaced in a fraction of a second. Human beings are a bit more complicated than that.

 

The role of the leader then is projecting his/her creativity, passion and initiative in the people working in the organisation. In doing so people feel part of something, feel part of a work in progress in which they are indispensable.

 

To make feeling anyone indispensable is probably the biggest contribution that leaders bring to their organisations and to society as a whole. 

What kind of work do you expect from your team? What type of work guarantees the sustainability of your advantage?

 

There are two types of work:

 

  • Daily / routine work: is needed in order to run your organisation. This requires workers bringing their knowledge, skills and capabilities to your organisation. This kind of work is written in the job description of each employee.

 

  • Exceptional work: is a human gift from your workforce. It’s something that people do when feeling inspired by your organisation. It’s something you can’t order and can’t be written in a job description.

 

The ingredients of exceptional work are the human gifts of creativity, passion and initiative that your team decide to bring at work or not.

 

 

While these gifts can’t be forced, we as managers, entrepreneurs or founders of a start-up can create an organisation, a platform and a culture that inspires them.   

 

Isn’t this the meaning of leadership today? 

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