Partnership
This is essential for building the culture and capabilities that enable superior value creation.
What are partnerships?
This process is more than just benchmarking and involves a humble approach to continual improvement.
What is closing gaps?
Developing this is crucial for aligning team efforts and maximizing contribution.
What is a shared vision?
Emphasizing the importance of creating value that benefits all parties involved.
What is win-win?
These are external challenges that impede progress, reduce demand, or increase costs.
What are headwinds?
Mutual benefit with these figures ensures laws enable, rather than hinder, success.
Who are lawmakers and regulators?
This principle based framework can be used to regularly discover gaps in methods and results.
What is Principle Based Management?
A clear and compelling vision provides this for decision-making and prioritization.
What is direction?
Mutual benefit is foundational to this overarching vision of Koch Inc.
What is Koch's Vision?
These factors can increase demand, weaken competitive forces, or lower costs.
What are tailwinds?
By contributing to the well-being of this group, Koch aims to achieve long-term success.
What are communities?
This phenomenon can make it difficult to spot performance gaps when we are doing well.
What is overconfidence or complacency?
Employees are encouraged to connect to this to maximize their contribution.
What is the team/organizational vision?
This type of benefit occurs when one party benefits at the expense of another.
What is a win-lose situation?
The creation and popularity of smartphones created headwinds for these standalone devices.
What are MP3 players, watches, alarm clocks, or landline phones/services?
This economist observed that people in a civilized society require the cooperation and assistance of others.
Who is Adam Smith?
This mindset involves never being satisfied with the status quo and always seeking improvement.
What is restless discontent?
This practice involves prioritizing and making decisions to align with long-term success.
What is long term thinking?
This type of employee is essential for collaboration and building trusted relationships.
What is a contribution-motivated employee?
Changes in fashion preferences provided tailwinds for manufacturers of this type of attire.
What are casual clothes?
These three elements are required for beneficial and lasting partnerships.
What are a shared vision, shared values, and complementary capabilities?
This term describes the process of comparing our performance against the best in the industry to identify areas for improvement.
What is benchmarking?
The Vision Dimension suggests stopping or modifying these activities to support successful partnerships.
What are unprofitable activities?
Mutual benefit encourages innovation by avoiding profits through these negative practices.
What are extraction and exploitation?
The Headwinds and Tailwinds model can help businesses decide on these three strategic actions.
What are entering, exiting, or remaining in a business?