Increasing profits based on growing principles
Two articles which appeared in the August, 2015 issue of CPA’s “In the Black” can be combined to provide the future direction for successful businesses.
1. How self-focused CEOs kill profits: [based on Fred Keil’s research]
How does character convert into profit?
• High character leaders lower corporate risk by selecting, developing and retaining other high character people. [Character is the key selection criteria] • They supercharge their workforce by establishing an environment where employees are confident in management, energized by the vision, clear on the their priorities to support the strategy, and respectfully held accountable for their decisions and performance. [The environment they create provides the motivation]
Virtuoso leaders are skilled business people with strong characters:
• They keep their promises [trust] and follow through with commitments.
• Own up to their mistakes and correct them
• Accept that people make mistakes and forgive them [acceptance]
• Treat people as people [respect], not commodities or numbers.
[The top four relationship building values are: Trust, Respect, Acceptance and Commitment.]
2. What’s the biggest customer service mistake that businesses make?
Dr. Catriona Wallace, CEO Flamigo & Fifth Quadrant
• We need to get customers out of mass segments and use human-centred design approaches to develop experiences that create value for the person and the business. Better still, why not have the customer create the experience they want, on partnership with the employee?
Andrew Carlton, Vice-president customer service, American Express A & NZ.
• It’s essential to provide a unique customer experience by anticipating customers’ needs and expectations and exceeding them, every time. It makes sense for us to select highly engaged and customer focused employees and invest in their training and development.
[The customer wants to receive trust and respect from the employee and acceptance that the product or service will meet their expectation and that the employee will commit to ensure that happens.]
From the top to the bottom.
The common thread in all businesses from CEO to customer and all other stakeholders is, trust, respect, acceptance and commitment. This can only be achieved if it is built into the culture of the organization.
According Fred Kiel’s research CEO’s who have strong character values will deliver nearly five times the return assets as self-centered CEO’s
The Cognitive Principle Matrix is built on five sets of character building principles. It is a structured approach which teaches emotional intelligence and spiritual intelligence to teams or employees.
The Business Flow Coaching model shows how to apply those principles to develop an organization which provides customer service based on trust, respect, acceptance and commitment. Character principles flow from the top of the organization to the bottom and through to the customer. Principles also flow from inside a person to the outside. It is based on using the brains predictive system, not the comparative system which causes negativity and stops flow.
It is based on the same model which is used to build a relationship with your partner and or child. See above below:
