Text 5. Spin of Success

As “Marks and Spenser” Co. states: “Our mission is our basic customer benefits. We respect them and meet their needs providing them for maximum service”. Peter Drucker? The famous guru in management, prices “M&S” as the best world company in the sphere of management. He notes that its course intends the stable growth and success.

What is success? How can we define it?

Every large-scale company follows “a spin of success”:

- definition of effective demand;

- concentration on the problem;

- competence;

- success.

The main problem is in the centre of a spin, i.e. the main problem definition. It is one of the most important parts; the more is known about it, the better. In other words, it is an effective demand – the strongest demand in the market. A company should find it, decide what to do for its satisfaction and, finally do it better than its competitors.

The next step is concentration on the problem. A company starts making decisions and … “the spin starts turning”.

The third stage is a competence. In fact, any company needs to be competent in solving the problem and taking business direction.

A set of competences has been developed;

Client responsiveness:

1. Relationship building establishes mutual understanding and builds long-term relationships with key decision makers;

2. Professional judgment - knows who the “real client is at all times and uses this knowledge to operate effectively.

Business skills:

1. Commerciality –relates all aspects of company’s service to client’s business perspective.

2. Business development – is seen by existing clients to market effectively and appropriately

Management:

1.Task management skills – control the process of delivery to the client.

2.Team skills – encourages openness and co-operating working;

3. People development – gives staff responsibility and autonomy appropriate to their level of competence.

Personal effectiveness:

1. Drive and commitment to results –goes beyond client’s expressed requirements and meets their real need.

2. Resilience – recover crisis situations; is resourceful at time of pressure and stress.

Social skills:

1.Communication skills – speaks clearly and with impact( influence);

2. Social confidence – is perceived to enjoy the company of a wide range of people.

Thinking skills:

1.Analytical thinking – analyses large amounts of complex data, extracts essentials;

2. Proactive thinking –comes forward with ideas unprompted by clients.

While in operation, a company should be able to analyze its customers, competitors, changes if the environment it acts in, and to control its activities by answering the questions: What impedes (prevents) the profitability increase? After that it can define its corporate strategy.

Only then a company faces its business success. Developing spiral, success attracts the new success, like a magnet.

The company’s success depends on how all its strategies match its corporate mission. In turn, it is extremely important for the top management to have a clear understanding of corporate mission in order to create a basis for formulating corporate strategy.

The most important task of top management is to motivate the personnel, instill self-confidence in staff, and make guiding line turn into accessible objectives.