Whenever I hear people talking about the dark side of capitalism, I turn to the principles of Warren Buffet, which remind me, that the best of human nature can bring immense success.
In his letters to his investors, Buffet shares that he invests in companies where CEO’s care about customers. Buffet has found the genuine positive regard for customers, correlates to other key indicators of profitability such as honest accounting, customer focus, quality product and a loyal team. In short, caring for customers is a lead indicator that a business, is a principle centred one, and worthy of investment.
A principled centred business, says Stephen Covey, focuses on honour rather than fairness or fear. It looks at character in addition to skills of the person, character includes, integrity, abundance thinking and maturity. In a principle centred business the key governing principles are trustworthiness of individuals, trust in relationships, empowerment in management and alignment within the organisation.
Brand values stand upon the healthy foundations of a principle centred business, creating a point of differentiation. The brand values operate as a value system does in an individual, defining the business identity by: the choices it makes, the quality of customer relationships, what it has to share of unique value and the world it creates around them.
So brand values, join with Covey’s principles for leadership, to become the governing principles, which allow the organisation to walk the talk of their customer promise.
I will wrap with this warming thought.
To me, what Covey and Buffet are talking about in essence is human consciousness, that is our ability to be in relationship and care for others. Both Covey and Buffet claim this is the lead indicator of business profitability and that thought leaves me a lot to feel optimistic about.
Hearts and Minds
Thought Leader – Stephen Covey