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Win an Olympic Gold Medal - What are the Key skills needed to win in Business?
LMC31 Jul 2012
With all eyes on London for the 2012 Olympic Games every participating country will no doubt have one clear goal: Winning as many gold medals as possible. However this is very much easier said than done. Aspiring Olympic gold medallists require willpower, hard work and dedication. There is much we as business professionals can learn from this level of commitment and dedication. Much like these highly trained athletes we must aspire to the highest levels of performance and success. Here a 5 key points to consider:
This is a key skill for almost all Olympic Athletes especially within the sport of gymnastics. Without the right balance athletes will be unable to perform and will inevitability fall. This is also true within organisations! They must strive for perfect balance where strategy (improvement and future plans) and maintenance (operations) are divided evenly across the organisation. An example of this is the “Kaizen Square” which is used as a tool in Total Quality Management (TQM). While originally developed to support TQM, it is an ideal illustration from which to develop a balanced organisational development strategy.
For an Olympic swimmer, the difference between winning and losing a race can come down to the 10-thousandth of a second (see Michael Phelps’ 100m butterfly finish in Beijing). Swimmers understand the importance of consistency in training because one wrong stroke could ruin a chance at achieving victory. The same applies to Organistions. They must ensure that there processes and procedures are always reviewed, assessed and improved. A consistent approach across the organisation will ensure efficiency, effectiveness and ultimately peak performance and success.
Olympic cycling is not an event that is decided quickly. Cyclists train for long distances where they must constantly give their all – there is no time to rest. The same rules apply to organistions! The race for quality has no finish line. Organisations must continue to exceptionally serve there customers, and shareholders. When improvement is needed improve it! Remember there is not time to rest, it is a constant cycle which can be hard, and at times stressful. Organistions who have the ability to withstand this and move forward will ultimately succeed.
Many Olympic sports are team events such as Basketball, Football and Running. The key word here being team! Each player relies on each other to win. This is a critical factor within Organistions. Simply put…Without team work it is impossible to succeed. There are many benefits to teamwork and there are many books listing them so here are three to consider:
- Creating an atmosphere where people build relationships within their teams will result in happier, more productive workers.
- Synergy, 1+1=3 within high functioning teams
- Diversity of ideas
People in general have the desire to be part of something, committed to a goal or a project and by creating environments that foster teamwork, individuals become part of something and "belong." The result is increased productivity and creativity. The value of team work is the diversity of ideas, opinions, and solutions that may not have been considered individually.
One the most watched sports in the Olympics (and in general) is Football. However what does it take to score that perfect goal? In one word…Accuracy. Organisations must install a sense of confidence among their employees, customers and stakeholders. To do this attention to detail, precision and above all truth are key to this. Eventually the organistion will gain a reputation of reliability and trust which will serve in performing well and achieving success.
- Activity Based Budgeting (ABB)
- Balanced Scorecard (BSC)
- Interpersonal Communication
- Accounting Insolvency