As the COVID-19 pandemic continues to expand and the next stages is yet to be known, what’s known is that we’ll have to live coherently with it for a certain period of time. As you may know, living totally out of fear might not be the best solution to cope with this situation, hence how we can leverage on and grow out of this unfortunate event is rather what should be pondered upon.
BRANDi helps elevating a Good Company into a GREAT One. It’s undeniable that coping with changes is challenging yet this might be the best opportunity for organizations to navigate through the massive changes engendered by the ongoing crisis. Prior to the coronavirus outbreak, acute economic slowdown accompanied by environmental problems have been persevered for over a period of time. As the ferocious outbreak is added to the equation, the situation upended; posing a new and complex threat that calls for a collective response.
The definition of a GREAT Company is characterized as having an ability to rebound right out of an adversity - in other words, resilience. Moreover, a GREAT Company doesn’t only retrieve once from adversity but every time it is encountered. Imagine how companies like Coca Cola, Exxon (Esso), IBM or local brands like SCG or SCB overcame various adversities throughout hundred years of business. This article will uncover how a GREAT Company is distinguished from a GOOD Company.
A GREAT company builds leaders and conveys leadership
It’s impossible for an organization over hundred years to be solely managed by its founder. Leadership from the founder itself is vital; however, what sets GREAT company apart is the ability to convey leadership to its subsequent leaders.
A GREAT company prioritizes “who” over “what”
While a GOOD Company focuses their resources on establishing a complex and bureaucratic organization, a GREAT Company focuses on each individual and their personal development. Rather than focusing on the position one upholds, one’s competency is what matters more when assigning responsibilities despite the position one upholds.
A GREAT company communicates facts and starts everything from that
In the face of this ongoing pandemic, all organizations face similar problems. Recognizing a problem is the utmost vital thing to begin with. Instead of being frightened by or surrendering to it, understanding the root cause of the problem helps navigate the right decision and approach to the problem under limited resources. The decision of what not to do is therefore more critical than the decision of what to do.
A GREAT company focuses on competency and defines “next” potential business
What you did well in the past can no more indicate future success due to massive scale of changes in consumer’s preferences and expectations, therefore the attachment to what you did well should be highly aware of. Conversely, the capability to stretch beyond your core business to a new business by leveraging on your competency is the heart and soul of a GREAT Company.
A GREAT company begins with “why” not “what”
Technology Prior to the COVID-19 incident, evidently various organizations have been trying to adopt a digital transformation whereas several organizations did it because they have seen several organizations did it instead of to reinvent themselves. Apparently, technology acts as a catalyst that helps increase the operational efficiency, however being the most technological advanced company doesn’t equate to being better. All in all, the adoption of technology that suits your organization needs is more vital than being advanced.
A GREAT company empowers culture not “rules”
We come up with rules and regulations in management because we don’t trust in people; the main purpose of this is to implement a standard work process. However, standard work process is unfavorable for change. On the other hand, culture is of the utmost importance. The culture of responsibility is a foundation that enables a GREAT Company to pursue perpetual success. All in all, a GREAT Company is a continuous process that will help promote constant growth throughout times.
All in all, a GREAT Company is a continuous process that will help promote constant growth throughout times.