It would not be a stretch to say that success in business today is an obsession. CEOs and entrepreneurs are hooked on making mega profits. That a single app can sell for billions is the new gold standard. Executives push hard for enormous returns on the investment of time and money. And their shareholders demand it.
The intensity of the game has grown to epic proportions reshaping how businesses are run. When asked how much profit is enough”, Phil Knight, founder of Nike remarked: “It’s never enough”. This mentality can put great stress on an organization, burn out its executives, and eliminate job security for its employees.
To keep pace with the competition, to be ahead of the curve, companies commonly undergo major transformational processes to implement new strategies. Programs are formulated, stiff quotas assigned. It’s change or die.
Downsizing, restructuring, installing new technology all seem like sound programs. Then why do 70% of all corporate change initiatives fail according to the Harvard Business Review.
The answer lies in The P-Factor – a lack of understanding of the value of Partnership in business; specifically, a failure to cultivate a strong, vibrant working relationship between executives and among their employees.
What is an organization after all? It’s a group of individuals brought together to contribute to a common goal. The organization is only as strong as the individuals who comprise it. But these individual are not operating alone. They connect, inter-relate, and exchange with one another.
They are partnered in a joint pursuit. When thought of that way, when the value of their relationships are nurtured, when their concerns are acknowledged, and their personal and professional growth aided through training and enhancement programs, the viability of the organization is the direct beneficiary.
Popular attempts to “inject a culture” into a company are symptoms of a dysfunctional partnership. The solution is to inject programs that address the heart and soul of a corporation – the individual partners who commit their time and energy to the company. Their well being, their sense of belonging, their job fulfillment, are indispensable to corporate viability.
Unlike the current push towards excessive corporate achievement – its stock price – the new measure of success should be the health of its partnerships.