Having spent many of my years as a corporate strategist, leading my own consulting organization, teaching, writing and lecturing, I tried to summarize what I believe are the essential elements of being a strategic winner.
When I wrote my latest book: The Secret To GE’s Success! (that I wanted to entitle: Breaking the GE Code) I came to conclusion that GE’s 125-year growth, profitability, and survival could be summarized in one word: L.A.T.I.N that stands for Leadership, Adaptability, Talent, Influencing and Networks.
Leadership- many academics assert the there is one type of leader for all situations and that you can train individuals to be leaders. I totally disagree. Leaders must fit the unique situation of the organization and its environment. I believe there are four types of leaders: risktakers, caretakers, surgeons and undertakers.
Adaptability- no strategy lasts forever and the leader must know when and how to change to fit the changing markets, competition, socio/political and economic changes.
Talent- Winners are willing to invest in the selection, development and rewarding of the right talents to fit the strategies and changing world
Influencing- winners must influence their customers, the regulators, the community that they know what they are doing and must support them.
Networks and systems are important to assure that the strategies are executed efficiently and creatively.
In the next few notes I would like to show how these factors relate to the dynamic and complex changes in the healthcare markets.