The document discusses the importance of relationships, or the "R factor", in business success. It argues that relationships are the bedrock of growth, innovation, mergers and acquisitions, restructuring, and other business activities. Organizational culture and leadership behaviors that promote collaboration, openness, trust and coaching help foster strong relationships both internally and externally. Companies that view relationships as a key leadership capability and part of their organizational character tend to be more successful.
2. Relationship factor in business success The “R” or Relationship factor is the bedrock of business success. Be it growth, innovation, mergers & acquisitions, restructuring, people development, customer service, union relations or environment management, the ‘R’ factor makes the difference.
3. Relationship factor in business success It is ironic that we do not fully realise the impact of relationships. In my experiences, Leadership is a personal and unique gift in every human being. And the most precious of the gifts is the ability to build relationships.
4. Relationship factor in business success Let me elucidate. At a recent session with the Leadership team of a client, I enquired of the team as to how many of them have made new friends in the previous three years. Only one hand shot up! Similarly, in the midst of a workshop with high potential talent, a younger lot, I repeated the question - lot many hands went up!! Are the senior leaders too busy or is it the “facebook” culture of gen next?
5. Relationship factor in business success hat I know for sure is that the ‘R’ factor is becoming more and more a Leadership capability and an organisation character. Corporates today (more than ever before) place a premium on collaboration and a “boundaryless” way of working together.
6. Relationship factor in business success Organisation Character And Leadership Behaviours.
7. Relationship factor in business success Culture: Organisations, especially in “people centric” businesses, the ‘R’ factor is an imperative in terms of values and cultural behaviour. As mission statements blare out “respect for individual,” these organisations internalise and demonstrate its intent. I know of a worldwide leader in the confectionary business who years ago, set out their core purpose as “working together to create brands people love”. Years later when they acquired another biggie in its field, this organisation altered its purpose statement to “working better together to create brands people love”. Yes, the “better” was deliberate and the speak was that big brother shall take care of little brother! That one act personified the character of the organisation and in quick time it integrated seamlessly and became one of the finest success stories of acquisitions. Organizational culture
8. Relationship factor in business success Collaboration: The intent on collaboration and team excellence is a “character” in these organisations. Even the Organisation Structures are re-designed to facilitate teamwork – flat, lean and close to customer. Selection of talent is on the basis of inter-personal skills and team play abilities. KRA setting ensures seamless work and cross functional teams. Performance evaluations are based not on individual brilliance but on “collective” achievements. Rewards and Recognition including annual incentive plans are often built around team and organisation achievements. Likewise, career advancement and growth is linked to collaborative contributions. Collaboration
9. Relationship factor in business success Openness, trust and transparency are the hallmark of such organisations. They dare to “reach out” (communication is an old word, by the way!) to people on an on-going manner. Vehicles like webcasts, conferences and get-togethers are two-way interactions – sharing of information and voices of enquiry. The connect is not HO centric! It goes all the way to the shop floor operator or the frontline sales. Reaching out also means involvement of family members – an annual family get-together done with spontaneity creates bondages that are everlasting. CONNECTIVITIES- SOCIAL NETWORKING
10. Relationship factor in business success Great Place is a Fun Place: Organisations that are a great place to be in are generally a “fun” place too. Again the character comes into play – these organisations strongly believe that work and fun can co-exist beautifully. Whilst they do stretch, it is “stretch with a smile”! There is a natural energy, excitement and celebration as you do business and how you treat people. Environment of trust, honest feedback, customer and consumer responsiveness, hygiene factors like office settings and recreation create a community of collaboration.
12. Relationship factor in business success Interest: R factor Leaders have genuine “interest” in their people. They demonstrate the “interest” not by just “walking about” but by staying connected and engaged with their teams. They know the highs and lows of the individual and sensitivity management is the name of the game. Whilst the Performance drive remains in full flow it’s all done with a lot of personal touch and warmth.
13. Relationship factor in business success Respect: These leaders rise above the issues of power, control and ego. Instead, they are accessible, approachable, adaptable and most importantly are flexible. They do not abuse their positions by yelling, shouting or admonishing in public. There motto is “give respect and earn respect” – a simple mantra.
14. Relationship factor in business success Coaching: Such leaders adopt a coaching style when it comes to leading their teams. They are natural coaches who painstakingly bring out the best in their people. They play on strengths and diffuse the development needs. They leverage powerful processes such as personal development plans, career conversations, succession planning besides emphasise on learning and knowledge sharing in a collaborative style. The motivation is to unleash potential and create more leaders. The success of a Coach is none more apparent than when the R factor is at an admirable level.
15. Relationship factor in business success Networking: If you are an R factor leader then you already have the network! Do a takeholder analysis on your own network and you would realise it is larger than you think. External networking is equally critical and hence the need to maintain it. Take customer development or corporate communications - staying in touch, nurturing relationships can avoid potential conflicts and sometimes even a crisis. Leaders need to renew the ‘R’ factor in themselves. They should realise that their goal is not only to get work done, but also to build and preserve rapport and relationship with your team.
