ฝึกพูดภาษาอังกฤษด้วยเทคนิค Shadowing จากวิดีโอ: If “Value” Isn’t Driving Your Decisions, You’re Failing

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Value isn't forged in the rhetoric, no matter how consistently you might talk about it.

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Value isn't forged in the rhetoric, no matter how consistently you might talk about it.

It's forged through your actions as a leader.

And these actions begin in your decision-making process.

If you don't get the value focus right when you make decisions, it's almost impossible to retrofit it further down the track.

Welcome to Moments with Marty, your short, sharp shot of leadership insight to help you to stay on track between our weekly episodes of the No Bullshit Leadership Podcast.

Many leaders use the word value with gay abandon.

They say things like, come on, I want you all to add value, or we need to create value for our customers.

But for the people that this is designed to motivate and encourage, it's almost meaningless.

There's no tangible way for them to connect the word value

to the actions they might need to take in order to deliver it.

What should they do differently from what they're already doing?

How would they know if what they were doing was value accretive or not?

Value isn't forged in the rhetoric, no matter how consistently you might talk about it.

It's forged through your actions as a leader, and these actions begin in your decision-making process.

If you don't get the value focus right when you make decisions, it's almost impossible to retrofit it further down the track.

Whenever you make a decision, you have to put value at the forefront of the options analysis, the discussion and of course the eventual outcome.

During my corporate career, I saw so much money just pissed away simply

because value wasn't put at the centre of the decision making process.

Of course there are many factors other than value creation that can drive leaders to decisions.

Perhaps they want to do the work that's most challenging or most interesting to them.

Maybe they want to expand the scope and influence of their team.

It could be that they want to signal their virtue by pursuing a social initiative.

Or because they just want to be liked, they pursue their team's ideas without ever asking the hard questions that would validate their potential value.

Here are 10 fundamental questions that you should ask when considering a decision that requires any investment of the company's resources.

And of course resources are people, money, assets and time.

Question 1.

What is the required investment?

Question 2.

What do we get for that investment?

In other words, what value will be generated?

Question three, where and when will I see that value appear?

Because it has to be tangible.

Question four, what other options did you consider before recommending this option?

Question five, what risks are associated with the investment?

How likely is it to pay off?

Question six, what assumptions did you make when you constructed the value case?

Question 7, have you tested those assumptions with some what-if scenarios?

Question 8, what's the worst case scenario?

What's our maximum exposure if it all goes to custard?

Question 9, are there better alternatives for us to invest our resources in?

Question 10, are you confident that you can deliver this value to the company?

Now it might not be exactly those questions for you, but by asking any similar questions that put a value focus at the forefront, you'll achieve multiple objectives.

For a start, you'll push your people to support their recommendations with facts and data, rather than just desires and opinions.

Then of course you'll demonstrate your own focus on value.

If the value case doesn't stack up, it's not happening.

And you'll reduce the amount of low value work, improving your team's effectiveness by focusing their energies on the things that really move the needle.

Want to generate more value?

Well, build it into your team's decision-making discipline and use it as your primary filter to stop the dumb shit.

For more depth on this insight, have a listen to episode 42 of the No Bullshit Leadership podcast, First Create Value.

We'll leave a link in the show notes.

I really hope you enjoyed this moment and that gives you that extra little spark to be a no bullshit leader.

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