The not-so secret ingredient of world class businesses

ONE MINUTE BRIEFING: The CMI's Ann Francke says that the best companies are about far more than just their products.

by Stephen Jones
Last Updated: 28 Nov 2018

If anyone knows what makes a well-run company, it is Ann Francke. The former Boots, Yell and Mars’ exec heads up the Chartered Management Institute, the 119,000 member chartered body for professional management.

For her, great companies have a clear purpose, strong products and a culture that focuses on developing staff.


"A world class organisation recognises that its business is about people. Look at Unilever and Diageo for example, companies that have become extremely successful on a world stage, but still invest a significant amount of time and money working on their culture and their employees.

"Unilever was a pioneer of purpose and put it at the heart of everything it does. It’s constantly articulating that purpose, holding itself up to it. It allows each brand to have its own purpose.

"Likewise Diageo recognised the power of inclusivity and diversity very early on. Now we talk about this stuff all of the time, but 15 years ago we didn't. Diageo set out on this journey then and it’s paying off - 34 per cent of its senior leadership globally are women; most companies are nowhere near that.

"So world class companies (of any size) invest from day one in training people, not only on the basics of how to run a business, but also on the people side of it. Importantly they they keep developing staff throughout their entire tenure in the organisation, not just to do the role that they join for."

For more information

Here Adobe's Northern VP provides tips on how to change a negative culture, or see this article for tips on how you can tell if your business is dead inside


Image credits: s_white/Gettyimages

 

Tags:

Find this article useful?

Get more great articles like this in your inbox every lunchtime