"How Leadership, Loyalty, and Transparency Fuel Growth" by Sir Terry Leahy, CEO of Tesco.

 Twenty years ago, Tesco was a distant third in the UK market, but after focused execution they are now clear leaders in not only the UK but also across the globe. As a driving factor behind the growth, Sir Terry related Ten Management Lessons from the experience.

1. Find the Truth -- Talk to your customers and listen to their advice.
2. Audacious Goals -- You'll be surprised what a motivated team can accomplish.
3. Vision, Value, and Culture -- These are more important than strategy and should emanate from employees.
4. Follow the Customer -- Watch customers carefully and be ready for change at a moment's notice.
5. Steering Wheel (balanced scorecard) -- Link the big goals to the smaller goals.
6. People, Process, Systems -- These must be viewed together, not in isolation.
7. Lean Thinking -- You can make things better and cheaper.
8. Competition is Good -- Learn from them before they learn from you.
9. Simple Beats Complex -- Over-engineering solutions leads to increased costs.
10. Leadership -- Takes you further than you could go alone.

Sir Terry admits none of these ideas are new, but few companies have the discipline to follow them all like Tesco.

via

Comments, questions or E-mails welcome: ajbrenninkmeijer (a) cs.com