Incentive - February 2009 - (Page 29) STRATEGIES Nature vs. Nurture BY JAMES FELDMAN, CITE, CPIM, CPT, MIP A s we begin 2009, a large percentage of people and businesses will be facing more evidence that “Shift Happens!” With our two major industries— auto and finance—in crisis and consumer demand continuing to weaken, 2009 will be a very challenging year. It will require a newfound talent for coping with uncertainty and a significant “shift” in our thinking about how we do business. I recently gave a presentation to meeting and incentive planners. All of the attendees were concerned about their businesses and their future, and much of the attention focused on identifying the next catastrophe of the current economic crisis. That made me think of the age-old “nature versus nurture” debate. It does not really matter to business what “nature” brings, whether it is in the form of an economic tsunami or an Atlantic hurricane. We can prepare for it, try to manage its effects and even leverage it to our advantage. Nevertheless, we cannot control it. We need to allow the “natural” issues to take care of themselves, and prepare the best way we can to survive them. That leaves us with nurture. There was clear agreement that future survival, let alone success, means that each organization must identify and nurture future leaders with the capacity to think strategically. Cultivating leadership is just the beginning, though. I believe you should focus on nurturing your customers and suppliers as well. Customers eventually will return. Start now with programs that will ensure they return to you. Moreover, even if you are not buying much now for your company, you will need dependable suppliers when things return to normal. Identify and nurture relationships with the better ones, and let them know you can be as good a customer as you want them to be a supplier. There is no “secret” that will overcome the failure of an organization to nurture those who are the foundation of its success. That is the key to any successful venture. Not technology. Not price. Nurture. Here’s a slow times “nurture” suggestion: Nurture business collaborations. Strategic partnerships and alliances can be built to evaluate and monitor an entire range of different business relationships. They are especially effective in helping you evaluate new markets and identifying new products and services that you can deliver using existing resources. Work with your managers to help determine how much time and effort should be invested in the relationship. Don’t spend too much time on trying to make it work. Either it does or doesn’t. Once you see the possibilities, a thorough and fact-based communication, grounded in a common understanding of objectives and transparent metrics among all the parties involved, is critical in building the trust necessary for a successful partnership. In my experience, organizations that dedicate an individual or a team to be responsible for alliances typically are better able to identify, evaluate and execute alliances than are companies without a dedicated resource. In addition, third parties may be well worth the costs in being the “deal maker.” So, this year, consider making a Better Change by identifying the customers, employees and suppliers that you want to keep. Consider their needs, wants, expectations and value. Consider collaborations and partnerships that produce win-wins. Then consider what you are willing—and not willing—to do to nurture your relationships with them. Then just do it and see how nurture is the secret to overcoming nature in tough times. I Send comments to feedback@incentivemag.com incentivemag.com | February 2009 | Incentive | 29 http://www.incentivemag.com
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