Continued from my earlier post – PART 1
Good corporations with strong, well defined business practices tend to deliver meaningful, enduring and purpose driven value to the entire stakeholder community. These institutions leave a lasting impression on the society and act as a lighthouse to inspire generations to look up to. These are not just good to have practices but make very strong economic sense and logic.
Great institution consistently reflects the following 4 Bs or the 4 key attributes of corporations –
- a) Belief – Reflects the philosophy of enterprises
- b) Behaviour – Defines the practices of enterprises
- c) Business – Establishes the objectives of enterprises
- d) Balance Sheet – Demonstrates the value of enterprises
These 4 attributes put together create the template for success and are the common threads that define breakout institutions. It is the unshakable belief of the business leadership in this approach through different economic cycles that marks out these companies for greater glory.
This approach is all about encouraging businesses to have a strong heart and a deep soul. It is about demonstrating courage of conviction against odds. It is about doing things the good old way and believing that what is good for heart is definitely good for mind – and therefore business.
One need not therefore get conditioned by the jungle rule or the Darwin theory – survival of the fittest. Jungle laws are all about “Primal Thinking” which establishes evolution through the lens of the survivor. As we have evolved, this is perhaps the right time and age to use the part of the brain that we human beings have so religiously developed – about reasoning, wisdom, affection and love.
We need to believe in and design institutions that befit humans and human characteristics – and not robots or animals that are programmed to react with only basal instincts – greed or fear.
So – time to revisit our institution design by undertaking a mental orbit shift for superior and enduring outcomes?
END OF PART 2