Sid Shah, is a premier member of ours, who has always shown and taught us many business lessons. He has of course also imbibed many of them and taught them through his coaching lessons to many.
We present eight attributes of Innovative Companies that he shares with us.
- A bias for action: Even though these companies may be analytical in their approach to decision making, there are not paralyzed by that fact.
- Close to the customer: These companies learn from the people they serve. The provide unparalled quality, service, and reliability—things that work and last.
- Autonomy & Entrepreneurship: The innovative companies foster many leaders and many innovators throughout the organization. They are a hive for champions.
- Productivity through people: The excellent companies treat the rank and file as the root source of quality and productivity gain. They do not regard capital investment as the fundamental source of efficiency improvement.
- Hands-on, value driven: All Innovative companies are agile and give lot of focus on values.
- Stick to the knitting: While there may be few exceptions, the odds for excellent performance seem strongly to favour those companies that stay reasonably close to business they know.
- Simple form, lean staff: The underlying structural forms and systems in the excellent companies are elegantly simple.
- Simultaneous loss-tight properties: The excellent companies are both centralized and decentralized.
Most of these eight attributes are not startling. Some of them are very simple, but as most of us know, real power lies in Simplicity.
We invite you all to apply these principles in your life and company and experience the benefits.
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