As any good CEO will tell you, success hinges on having a dedicated and talented management team. As poet John Donne once wrote, “No man is an island entire of itself; every man is a piece of the continent, a part of the main.” A statement like that is especially true when running a large national or multinational business.
I think a great deal of my accomplishment can be credited to the management teams I’ve had the pleasure of working with over the years. They have been able to see issues I have overlooked and have been able to recognize areas of need in my various business ventures. Clearly, that’s very important.
When asked, “How did you go about building your management team, Richard Warke?,” people are often surprised at the answers I provide.
First, I realized long ago that in order to grow my company the way I wanted to, I would need to surround myself with professionals who had differing views, interests and specialties than myself. I think the number one mistake executives and business leaders make is hiring people with similar traits, backgrounds and even points of view.
“The input of the labor, capital and raw materials can never become production without the catalyst of management,” notes business management expert Dee Kay. “In its absence, the resources of production remain underutilized, in fact, without efficient management, no country can become a nation.”
In today’s complex business climate, it’s more than ever to have a diverse business team, one that includes varying skill specialties, professional backgrounds, and I believe most importantly, different views of how we see the world. Why? Because from my experience, when making important decisions that impact the growth and future of your company, you want to know as many sides of the equation as possible, and you want to make a decision having considered all points of view, not just one.
In my experience, when building a management team, the second most important element in doing so is building a team that can enjoy a positive and communicative relationship. The rapport within a team is incredibly significant, so much so that business success really hinges on just how healthy and open a team’s communication is. A healthy working team can contribute significantly to the overall success of a business and facilitate its growth. Unfortunately, as pointed out by the Board of Trade of Metropolitan Montreal, “a disjointed management team could well put off anyone involved with your business, e.g. employees, customers, clients or suppliers. This could ultimately lead to corporate failure.”
Because growing business is at its heart a group activity, like a sports team, management plays a critical role in ensuring that a company runs smoothly and effectively. Management plays both coach and cheerleader when it comes to forming a dynamic environment filled with teamwork and team spirit. This is achieved by developing a sound organizational structure that brings the human and material resources together and motivates staff toward achieving a common goal.
Lastly, it’s crucial to remember that a management team serves as a company-wide example and is responsible for fostering motivation levels. If managers are uninspired, lackadaisical or indifferent, this will quickly reflect in employee morale and engagement. The motivation level of the employees is directly related to strong management. In turn, management creates and maintains an environment conducive to higher efficiency and performance.
Regardless of the type of business, whether it’s retail or in the mining sector, a skilled management team will foster an environment where a business can flourish and thrive.