Why do companies actually fail?

“Companies don’t fail because they have a bad plan, they fail because their employees don’t put their hearts and minds into it.”

I started off my career at 15 as an apprentice to become a car mechanic, and over the 40 years since then, I’ve worked my way up the career ladder. I’ve had great leaders and mentors, and I’ve also grown as a leader myself. One of the biggest lessons I’ve learnt along the way is that the best leaders don’t live day-by-day. We must always be re-imagining, planning and steering the ship.

 
 
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With the Fourth Industrial Revolution, the need for this is greater than ever before. Rapid digitization and evolving technologies mean that there are lower barriers to entry for competition, evolving business models and greater expectations from consumers. Sure, this accelerated rate of change has helped businesses rise faster, but it’s also reduced the time it takes for them to fall.

So how can leaders future-proof their businesses? I’ve found that the most sustainable solution is to build ambitious, productive, agile, competent and high-performing workforces that are focused on innovation. A Wall Street Journal article suggests that “most innovations are created through networks – groups of people working in concert.” When people and their different points of view and experiences converge, they create the type of innovation that could not have been done or found alone.

Here are three things I believe helps to foster innovation amongst teams.


Build a diverse workforce

Hire people of different ages, races, genders, with varied education, religions and backgrounds. Everyone sees the world differently, and a diverse team will bring fresh perspectives and creativity. The distinct capabilities of your team will make your business more capable of adapting to the unexpected, not to mention that you will appeal to a wider range of customers. 3 years ago, we have started creating our winning team at Al Masaood Automobiles. Today top 13 key positions are filled with 9 different nationalities aged between 34 to 58. From India to USA, from South Africa to Ireland.

Stand with your employees

Your business won’t fail if you have a bad plan, it will fail if your employees are “told” what to do – they will not put their hearts and minds into the plan’s execution. Allow them to be involved in all phases of the business including planning, research and strategy and you will find that they are appreciative and happy to do this. When we engage our people to reach a destination, they become more willing to make decisions, take appropriate risks and will act in the best interests of the organization, because they will feel a sense of ownership and pride in it.

BUILD AN ATMOSPHERE OF TRUST

It’s rewarding to build a relationship with your team. People aren’t committed to companies; they are committed to the people that they work for and alongside. Do you trust your team, and do they trust you? Your behavior as a leader or manager speaks much louder than your words. Communicate to your employees and encourage them to express their ideas and opinions. Listen when they talk and ensure transparency across your organization’s hierarchy.

Some leaders think of their employees as a commodity, but the truth is, your people are the real assets, the foundation of your company. They are the most powerful influencers of your success. Make it your top priority to rally your team together, because when you get everyone in the organization running with the same passion and purpose, you will be amazed at what you can accomplish. Just as we have been at Al Masaood Automobiles.


About the Author:

Irfan Tansel, Global Citizen and CEO of Al Masaood Automobiles

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After starting his career as an apprentice to become a Car Mechanic at the age of 15, Irfan Tansel has over 40 years’ experience working for family offices spanning across 3 continents. An entrepreneurial and visionary leader, Irfan is credited for his unique approach to company strategy, culture building within organizations and more recently, succeeding in a challenging market; this year Al Masaood Automobiles gained global recognition for achieving 68% growth after re-strategizing, repositioning on the automotive market and hiring a diverse workforce.

Driven to build a legacy, Irfan has a competitive nature. And, after achieving his goals and reaching the peak of his career, Irfan is determined to inspire tomorrow’s leaders by sharing his career of 4 decades Automotive knowledge.

When Irfan isn’t preparing for a future of disruption as electric cars, connectivity, autonomous vehicles and ride-sharing comes into play, you can find him spending time with his family and playing golf. 

For media and keynote inquiries, please email his brand manager Jen at Jen@prestidgegroup.com or call +971 55 719 3601. DOWNLOAD IRFAN’S MEDIA KIT.


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