UK, July 15, 2017.- It´s very easy to select one example of good business management and one of bad business management. A glance by the economic press is enough to see daily news of the top executives of multinationals, and small and medium-sized companies.
The professionals who are dedicated to managing the talent of other professionals, resources and and the ability to generate wealth from big companies know how easy it is to put tags or categories. However, this summer I want to dedicate good business management to Apple for being able to overcome the death of its founder, Steve Jobs. And in August I will refer to the changes of course in Uber, the company of transport of people (and goods) with more media noise in recent years.
The technological sector is not one of the economic sectors in which I have professional experience. Rather the construction sector and logistics. However, I have followed Apple’s entrepreneurial trajectory because of its particular birth, growth, decline and resurrection. The best thing is for the experts to talk:
Accountable leaders do four things consistently:
1. They keep their promises
2. They consider the consequences of their actions
3. They take responsibility for their mistakes
4. They make amends for those mistakes
In this mini-series on accountability, we’ll we’ll look closely at each of these. Today we’ll focus on promise keeping and why it is an essential component of Apple’s financial success.
Every year the Gallupnull +0% Organization releases the results of its survey on honesty and ethical standards in the professions. Business executives are always rated among the least honest and ethical. Why is that? I submit that too often CEOs fail to remember that, as Walter Landor said, a brand is a promise. Forgetting this risks losing market capitalization, brand reputation, and above all, trustworthiness.
What exactly is the promise brands make? Whatever the product (coffee, smartphones, cars) — or service (investing, consulting, construction), the promise is the same: “You can count on us to deliver what we say we’ll deliver. And if we don’t, we will make it right.”
Apple is wildly successful, and it isn’t only because they make cool gadgets.You wouldn’t be anxious to get the next iPhone if the one you have now works only now and then and you can’t find anyone at the company to help you. Tim Cook knows that the Apple logo represents a promise to consumers, and he takes that promise seriously. This is a major reason why, as noted elsewhere in Forbes, Apple “has the world’s largest market capitalization (more than $610 billion as of December 2016) and the most profitable business in America.”