The 3 Imperatives for Every Business
When a business is struggling, most leaders would start cutting back on headcount to save money. But not Hubert Joly, former CEO of Best Buy.
At the time he was appointed CEO, Best Buy was on the brink of shutting down. But Hubert not only didn’t cut people, he actually put more money into training, incentives, and wellness.
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Hubert believes that every business has 3 imperatives:
👍People Imperative. You need to have good people who are well-trained and well-equipped.
👍Customer Imperative. You need to have happy customers to whom you sell.
👍Financial Imperative. You need money.
According to Hubert, strong financial performance is an outcome of the Customer Imperative. And the Customer Imperative is an outcome of excellence on the People Imperative.
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Over the last 15 years, I’ve had the privilege of speaking and working with some of the world’s top leaders. Here are 15 of my favorite leadership lessons that I learned from the CEOs of organizations like Netflix, Honeywell, Volvo, Best Buy, The Home Depot, and others. I hope they inspire you and give you things you can try in your work and life. Get the PDF here.