Management consultant Peter Drucker wrote a column for the WSJ in 1993, as General Motors, Xerox, Sears and IBM lost their clear business advantage. He sought to identify reasons why.
The article, which found five deadly sins in common with these corporate declines, is an interesting one, please read the descriptions and don’t be turned off by the subtitles.
Drucker’s fifth deadly sin is
— The last of the deadly sins is feeding problems and starving opportunities.
I found even in my own business dealings that this is a sin we all commit and it has long lasting repercussions. A problem turns up in a small subsidiary or a marginal business starts to slide. The immediate reaction is to find someone good to go and solve the problem.
So in your business where are your best-performing people assigned. IN more than a few businesses the performers are assigned to problems — to the old business that is sinking faster than had been forecast; to the old product that is being outflanked by a competitor’s new offering; to the old technology to try and turn it around or at least milk profits for a few more years. When you ask: “And who takes care of the opportunities?” Almost invariably, the opportunities (the real future of the business) are left to fend for themselves.
All you can get by “problem-solving” is damage-containment. The best you can expect is maybe a reduced decline. No one no matter how skilled can resuscitate yesterdays stars.
Only opportunities produce tomorrows results and growth- the results and growth your bosses need and your business deserves. And opportunities are actually every bit as difficult and demanding as problems are.
If you wish to avoid this sin, first draw up a list of the opportunities facing the business and make sure that each is adequately staffed with your stars (and adequately supported). Only then should you draw up a list of the problems and worry about staffing them.
Have you been challenged with this sinful dilemma? Please share your views and solutions.
The picture in the title is Greed (Avarica) from Heironymus Bosch’s depiction of the Seven Deadly Sins (and the four last things) at the Prado Museum, Madrid.
