PETER GEORGESCU and The Source of Success
"Can Business Do Good, and be Good?
The New Imperatives"

Chautauqua July 9, 2002
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I suggest there are six fundamental Imperatives:

First, I would argue that the most powerful insight one can have, is an understanding of human nature. A good grasp, of our own selves. Of who we really are. Of our strengths, and our many fallibilities.

A comprehension, of where mankind's capacity for evil comes from. Those powerful forces in each one of us - put there through our DNA - by our struggle to survive, over the millennia.

We are descendants of animals. Once, we were predators. We battled, we grew in strength, and, in our capacity to be clever. That is, how we survived. Yet many of those instincts, which brought us success in those early years - are the instincts which account for so much of the cruelty - disingenuousness, and so much of the violence that is a part of our lives - and our world. Enron, WorldCom, Andersen. They're part of that heritage. It turns out, Pogo was right: "We have met the enemy. And it is indeed, us." This will not be easy.

It is a challenge to our spirit, not just an intellectual exercise. In order to truly understand ourselves, and our nature, we must look at ourselves in the mirror - with a willingness to see, the unvarnished truth, of who we are. And an equal willingness - to do something, with this new knowledge.

As people of free will, we have choices. We had better make more of them wise, and right. And we had better comprehend, the need to bring our business personae, in line with the best of us as people, as friends, as family men and women. In the future, you will not be able to be a good businessperson - without first being a good person.

The second strategy - is to harness the natural power, of our human creativity.

As the natural forces of free enterprise, and free markets, continue to bring commoditization, and sameness to all businesses - we must search for antidotes, the counter forces, that bring differentiation - through invention and innovation.

Fortunately, we have the ultimate tool to achieve this aim. All of us, are with that force: human creativity. It's a part of the beautiful mind we all possess. Success, will come to those who understand, nurture and grow their creative powers. While creativity is inborn, it can also be taught, and learned. It is unlike any other quality, except love. Because both caring and creativity, are eternally replenishable energies. The more you use them, the bigger and better, and stronger, they get!

That makes creativity, the only leveragable asset any company has, on its real balance sheet.

There's one more critical notion for business people must comprehend. Nurturing creativity, in an institutional sense, is vital to any company's survival. The winning companies, will be those, best at attracting talented creative minds - supporting them, challenging them, being demanding of them - but also being fair, and nurturing of their needs. And the losers - why, they will do business as usual.

Third, competence: Nothing good can happen - in our extraordinarily complex and competitive business world - without a high level of knowledge.

A deep understanding of your business - your craft, the mission you are on. Competence, both general and specific - is the price of admission, to the journey to success. That's why our basic educational system in our country must improve. We cannot rank 45th among nations in the developed world and still win long-term in the global marketplace.

But competence by itself, is not enough.

The fourth Imperative: The value of basic human values.

They will provide the compass settings to success in business, and to fulfillment, in our personal lives. Honesty, respect for others, and also for ourselves - integrity, accountability. These are the basic tenets, essential to sustainable success, and to happiness. As Mark Twain said, "You can fool some of the people some of the time." Increasingly, you can fool fewer people, less and less often. In the old excess demand world, a very few leaders, at the top of an organization - could create and control the enterprise and its future.

The role of most members in the organization - was that of inefficient robots. The early farmers, the factory workers, the bureaucrats, Even the rank and file at Enron, they were not supposed to challenge, to create, to invent. Their mission was just - to do. The faster, the better. The cheaper, the better. The more efficiently, the better. The same, the better.

But no more. Tomorrow, global and local enterprises, will compete in competence and creativity, aided by value. And every member of the organization, will impact the ultimate consumer or customer. All employees will be pressed into higher service, a higher business calling.

These new organizations, must be managed and lead, through the practice of basic human values. After all, creativity can only exist and thrive in a values-driven enterprise.

All this, because of the new powers of the great unwashed, the consumer. But the great unwashed no more. He and she, are emptor Rex - the consumer kings! A few years ago, I read a short, powerful book - about the ultimate values-driven organization. Frankly, one didn't need to read the book. The title, said it all: "The Customer Comes in Second, Your Employees Come in First." Basically, it asked how a company can expect their employees - to treat their consumers consistently with respect and dignity - if the organization does not treat them that way, in the first place?

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