A last resort and solution for businesses in trouble
When the unfortunate time comes for some businesses to find themselves in deep trouble, there is only one solution that can help them escape a dead-end situation.
This solution is none other than simply copying the practices, methods, and approaches of other highly successful businesses.
The Amazon Leadership Principles can serve as a beacon for businesses wishing to safely steer their ship out of stormy waters.
In fact, failing businesses can first first find out what they do wrong, and then change their practices to match an approach that is based on the tried and tested Amazon Leadership Principles.
When businesses are not customer obsessed
Customer obsession is a core leadership principle that is embraced by Amazon.
However, it is not uncommon for companies to challenge the usefulness and effect that this principle can have on their daily business operations.
For example, there are companies where employees are valued more than customers.
Leaders in these companies do their best to build teams that made up of employees with strong qualifications, skills, and experience, hoping to boost business performance and efficiency, as a result.
Although it is essential for a business to be able to attract, train, and keep skillful and capable employees, it cannot be disputed customers are the true lifeblood of any business.
Therefore, fostering customer obsession, or “customer mania”, even among employees who may be less competent, is perhaps a wiser and more effective approach for a business in the long run, than hiring high-caliber employees who may not be that willing to provide an excellent customer service and experience, and literally “live and grow” with customers.
When businesses are not really owned by their leaders
Business ownership is a delicate matter to discuss and analyze.
Who really owns a company?
Is it the company’s shareholders, managers, employees, lenders, customers, or someone else?
Looking at the question of business ownership from a leadership perspective, unless the junior, medium, and senior leaders of a company are made to feel that they own a part of the company, they cannot and will not be able to take optimum advantage of their leadership skills and reach their full potential as leaders.
When those leaders do not show an active interest themselves in becoming the “real owners” of the company, and they are not encouraged to, or even discouraged from, doing so, the performance of their teams will lag behind the standards and targets that have been set, and the overall performance and efficiency of the company will also suffer, as an effect.
Sources and further reading:
Amazon Leadership Principles
Can You Really Use the Amazon Leadership Principle "Bias for Action" to be a Better Parent?
Amazon's Leadership Principles: A Deep Dive