Entries by Therese Fauerbach
In today’s fast-paced world, the only constant is change. Technology is developing faster than we can learn how to use it, long-established companies are feeling the heat from digital savvy newcomers, and jobs are being created and/or restructured faster than workers with appropriate skills can be recruited to fill them. In the 30 years that I have been an entrepreneur, I have watched trends change and technology advance, but while the mechanics of business success have evolved, the foundation has remained the same. Here are 5 universal business truths that I believe will stand the test of time:
The best companies are made up of employees who are both successful and committed. Motivated and engaged employees can be found in a company that promotes productivity, creativity, and innovation through its culture and leadership. Creating a culture that supports and promotes employee engagement requires an understanding of the connection between employee attitudes and performance as well as a leadership team that is accountable for building and strengthening that relationship.
In my career, I have fulfilled a variety of management and leadership roles. At MCI, I led multiple groups across the organization, and I felt each role taught me something new about how to be a great manager to my team and a strong leader in the business.
It’s a common misconception that a leader is automatically a manager or vice versa. At a high level, leaders are the brave innovators, making the big – and sometimes bold – decisions behind the scenes, and managers are the faithful allies, rallying the troops on the ground.
Oil has reigned for centuries as one of society’s most valuable resources. Throughout history, those who have controlled oil, have controlled the economy. However, in today’s “data economy,” it can be argued that data, due to the insight and knowledge that can be extracted from it, is potentially more valuable. Like oil, raw data’s value comes from its potential to be refined into an essential commodity.
As a business owner and the mother of two young adults entering the workforce, I believe our future as a productive and thriving economy cannot wait. Our opportunities for sustainable economic growth rely on the attention we give to tomorrow’s workforce – today.
Much has been written about digital transformation and its impacts – both on our personal lives and from a business perspective. The digital transformation has changed how we communicate, how we shop, how we manage our homes, how we get answers to our questions, how we analyze data, as well as how we perform work.
Leadership must set the tone and define the metrics for customer experience success in the organization. The implementation of programs such as Quality Monitoring will help an organization maintain consistent and objective listening and analysis of customer interactions. Other incentive-based programs can help encourage each person in the organization to prioritize and improve experiences for unsatisfied customers. Information can be relayed across departments to help shift directional focus based on what is and isn’t working from the customers’ point of view.
We wish you a vibrant holiday season and a new year filled with joy, peace and prosperity!
The popularity of Lin-Manuel Miranda’s record-breaking musical, Hamilton: An American Musical, has not only electrified theater stages in New York and Chicago, but has reinvigorated an interest in American history and Alexander Hamilton, himself.
I had the good fortune of attending a recent Chicago performance of Hamilton and I couldn’t help but take note of the many valuable lessons I came away with after hearing and seeing Alexander Hamilton’s story and that of our Founding Fathers’ brought to life. What was clear to me is that no matter your political point of view or background, you have the ability to change history – now – and leave behind a legacy for future generations to build upon.
With the arrival of November, my thoughts turn to gratitude.
As the eldest in a family of ten children and the daughter of two hard working and very disciplined Irish immigrant parents, I was introduced to the importance of thank you at a very young age. It did not take long to learn that things generally worked out better for me when I used those two words. Over time, however, I came to understand that it was more than the words that helped produce positive outcomes in my life. It was gratitude.