So now we have all the data we require, we have an open organisation willing to share data, but the execution of any strategy is a result of the ability of the individual at the top to get the purpose across to the people that do the work. A leader is hamstrung if they are not trusted. All the great ideas in the world may not see the light of day without the trust of employees. Leaders must not fall back on a dictatorial approach, (although this may acquire short term [Steve Jobs]), employees are not motivated by fear, and the best will leave, and new talent will be hard to come by. Leaders must convince and cajole employees that this is the right way forward building layers of trust throughout the organisation (read JP Kotters 'Leading Change' and 'Switch' by Chip and Dan Heath
The rank and file employees, and for that matter customers, need to trust in that person enough that they will not just pull in the same direction. But pull as hard as they can. They also need to feel trusted. Trusted enough that if they open their mouths in disagreement that they will not be black-flagged, or ‘tarred and feathered’ in front of their peers.
Every business should strive to be a monopoly, so says Peter Thiel, since competition is wasteful and leads to lower profits. Rather than wasting time and resource on competing there are many examples of ‘so-called’ competitors working together somewhat symbiotically, in a ‘keep your enemies closer’ mode. The most obvious example of Netflix being available on Amazon Prime Video. Netflix the largest provider of video streaming content using Amazons platform as an extra avenue into peoples homes, and similarly Amazon keeping hold of its customer data by allowing them to access Netflix where they can still access the when and the what of their customers data. Plus the knock on revenue for Amazon Web Services (on which Netflix runs).
Read the previous post in this series here