What makes a successful business? It’s one of those simple—yet—impossible questions that occupies the minds of the great and good. There are few easy answers. If it was easy, we’d all be at it. A great product or service, regularly updated to meet changing customer needs, is a start. But plenty of good products are beaten by inferior rivals.
Marketing, timing and a bit of luck come into it. But so too does leadership. All the other elements, including luck, are to some extent influenced by the decisions of the leader. They select products, strategy and senior people. And while smarter ones listen to advice and take criticism from others, in recent years we have become partial to celebrating and rewarding the achievements of individuals. Whatever really lies behind success, the laurels are laid at the leader’s feet.
But if leaders claim successes in the good times, they should look to themselves when customers are leaving and things aren’t going well. Fewer seem so happy to highlight their importance at these times. But are we right to dwell on the role of one individual in either case?
This focus on leadership has had good and bad outcomes. Bad because it has created the Napoleonic superstars, the ego-driven, hero leaders and the corporate rock stars. But good because it has allowed us to shine a light on the effective, self-effacing team-builders. These leaders rarely take personal credit and are quick to point to the success of others. And these are the ones building sustainable and robust businesses with strong and lasting cultures.
These themes of leadership, culture and success are all explored in this issue. There’s a profile of unassuming George Coelho, a look at businesses thriving in tough sectors, a piece on the importance of culture and a discussion on why HR directors rarely get the top job. The message is that success is not about individuals per se, but rather how they deploy the resources at their disposal.
During almost 10 years with Director, I have been fortunate to work with many brilliant and successful people. I have also enjoyed writing for and editing a magazine with such an engaged readership. Thank you for making it fun. I’m off to try something new. I hope I can make it a success.
Richard Cree