LEADERSHIP STRATEGY: EMPLOYEES MUST BE TAUGHT THE BENEFITS OF CAPITALISM
its benefits are not appreciated by an ill-informed workforce
Management is failing to educate workers on the workings and benefits of capitalism. For many, their only source of information regarding what makes the business world go around comes from organized labor and an educational system that has had limited exposure to business.
by Art McNeil with an excerpt from Forbes Magazine
During launch of The Baton Process, we were stunned to learn that MOST employees:
- assume their company is retaining the lion’s share of top line revenue
- do not appreciate the job-threatening impact of shoddy performance
- are not aware that remaining competitive is essential to economic survival (both corporate and personal)
TBP implementation calls for a CEO lead discussion with employees entitled, “WHY CHANGE AND WHY NOW?” A support video demonstrates the value (expressed in terms of enhancing employee job security) of having employee centered continuous improvement.
Example: “if employees were to save $50,000.00 per year by correcting a recurring shipping problem, the saving would go directly to the bottom line. If their company was retaining 10% of its total revenue (after expenses), that $ 50, 000.00 contribution represents $500,000 that does not have to be sold. In a tight economy how many jobs might that save?”
TBP clients found that increased employee awareness of how capitalism works (including WIIFM) generated corporate energy and enthusiastic acceptance of the need for their invovement in the elimination of waste and rework.
Excerpt from The Virtues of Capitalism by Paul Johnson
Forbes magazine ran an article by an eminent British Historian and author who echoed the need to educate people on the workings and benefits of capitalism.. He suggested that the focus of this year’s election should be on reeducating the American electorate.
The economic crisis that began in 2008 and has continued with no sign of healing is essentially a crisis in the banking system Since the days of President Andrew Jackson in the 1830’s, Americans have been suspicious of bankers, especially when they’re seen to be running the economy. This is certainly what they were doing during the first decade of the 21st century, and some kind of breakdown was inevitable.
Banks are important, and the smooth flow of financial resources from them to the rest of the economy is essential for an economy to function successfully. But banks must be subservient to the economy as a whole and should never be in a position to dictate terms or put their own special interests first.
The heart of the U.S. economy is the provision of goods and services. These must be in adequate supply at highly competitive – in terms of the rest of the world – rates and in forms that are innovative, efficient and reliable. This year’s election provides an excellent opportunity to redefine and present this message with clarity and force that will strike home with voters.
This is not to say that the job of the U.S. government is to shape and run the nation’s economy. Far from it, Government’s job is to make it possible for the economy to run itself, in the interests of all its components and to the benefit of the American people, whether they be producers, suppliers, or consumers.
Government must ensure that the distortions in the system that produced the 2008 economic crisis cannot be repeated and that the hijacking of the economy by irresponsible and reckless bankers does not occur again. These themes should dominate discussions during this year’s election. Indeed, if we want to encapsulate what the election should be about, it’s this: the reeducation of the American people in the virtues of capitalism.
This post sponsored by the E book, Secure Corporate viability by Creating *Transferable Wealth and Wisdom: *a company not dependent on the CEO or any individual