Knowledge Capital & Personal Development

Since more than 3/4 of the top-developed nation’s working population are engaged in the service sectors, the intellectual capital and varying levels of development of these people are a major factor in a nation’s competitiveness.

And so it is between competing firms.  They do similar things, with the same people, for similar clients, using similar technology at more or less the same prices.  However, data shows that there are wide differences in performance between competing firms.  Why is this?  What is the key factor that is different?

A business is comprised of a group of people who have come together to play a specific role in the success of the business.  If the business is to grow, then its people must grow.  If the people are small-minded, unmotivated and not very creative – then the business will reflect this.

On the other hand, if the team members see themselves as vital, contributing, and able to excel, then the business will reflect this also.  Many organizations invest time and money in the professional development of their people; however, they neglect their team’s personal development.

Investing in the ongoing personal development and training of your team is one of the best investments you can make.  If someone makes $50,000 a year and can generate you $500,000 in value, why not take this person and increase their skill, ability, talent, attitude and education, so that they can add a million dollars in value?

A $50,000 investment that brings a $1 million return is a very, very valuable asset.  There is no better investment that companies can make than in the education and development of their own people.

Areas of personal development include:

• Relationship skills
• Interpersonal communication skills
• Emotional health and self-esteem
• Personal responsibility
• Self-motivation
• Financial intelligence
• Personal Leadership

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Our Most Precious Assets: People

In today’s competitive and fast paced world, our most precious assets are our people, our relationships and our time. Most executives and professionals are familiar with W. Edwards Deming’s concept of optimization and fine tuning a system to achieve the optimum output and results.

Few people apply the concept of optimization to their lives, people strategies, systems, policies, procedures, marketing and management practices.

Leading a team of people in today’s highly competitive, technologically sophisticated and connected world is very different from the command and control style prevalent in the preceding centuries.

Intangible assets such as people, know-how, systems and intellectual property are valued at many times more than tangible assets. Traditional management training and methods are severely lacking in “people knowledge” and an understanding of a world that is more and more intangible.

A new style of leadership is required for the new paradigm economy of today and the future.

Creativity Killers

Many of today’s leaders are operating from an old leadership model that could be described as “leadership through domination.” This style stifles creativity and inhibits innovation.

It is impossible to think of new ideas that defy old ways of doing things if we are afraid of making mistakes and are constantly worried about the real or perceived threat from a leader whose style is based on autocracy, coercion and punishment.

Creative and innovative people require creative and innovative workplaces that are fluid, flexible, fun, nurturing, supportive and enjoyable.  No longer is economic success dependent on natural resources, manufacturing excellence, and scientific or technological prowess.  Today, the terms of success revolve around an organization’s ability to mobilize, attract and retain creative human talent.  Every competitive dimension depends on creativity and ingenuity of the people that make up the organization.

Leading a team of creative talent is very different from leading a factory line of workers who do similar tasks repetitively.  It simply does not work to command creativity!  Can you imagine Mozart or Picasso being told to produce or else, “You are out!”  Leadership in the creative economy requires vastly different skills.

Today’s new model of leadership involves partnership, cooperation and team.

The Culture of “Blame”

One of the biggest blocks to most people stepping into personal leadership and responsibility is that they are so afraid of making mistakes that they won’t take the risk of being responsible and accountable at the same time.  Most people inaccurately see responsibility as another way of laying “blame” – or finding who is “at fault” when things go wrong.  Combine this with the fear of losing face, and you have people who won’t speak up – even though they know the solution!

Encouraging people to speak up requires building trust and safety.  Before people will take the risk of speaking up, they need to know that they won’t be punished for expressing themselves and stating their opinions.