The vision needs to be repeatedly communicated, so the employees understand the direction and their role in turning the vision into a reality. Today, customers demand high thresholds on all three dimensions. Exceeding all these thresholds is impossible without enlightened and focused leadership. Leaders continuously assess the future to understand what opportunities lie ahead. Effective leaders understand that the objective of an organization is to maximize long-term stakeholder wealth, not to merely minimize current operating expenses.
Good leaders understand their competitive position in the market.
They know their own competitive, and their key competitors, strengths and weaknesses. Furthermore, they analyze and anticipate changing customer needs. Based on this knowledge, strategies are developed to close performance gaps. Old processes are redesigned and new processes created to yield competitive advantage. They understand what skills are necessary to satisfy customers in the future.