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Saturday, September 8, 2018

Richard Kranitz, People - The Heart of Any Business

People - The Heart of Any Business

The best-selling book, Good to Great, described the results of a multi-year study of firms that made the leap from a history of average performance, to substantially outperforming their industry. In its search for the factors that led to their dramatic improvement, one conclusion stood out. The first step the person took who drove that transformation in most of the firms studied was not the development of a new or unique strategy, but was the selection of the best possible managers to fill key positions. This result confirmed what many of us who work in corporate development have seen over time – a mediocre manager will produce mediocre results from even the most brilliant plan, while a great manager can start with even a mediocre plan and use it as the starting point to shape a great company.

It proves the point that at the heart of any business are its people. Selecting the right people, placing them in the right spots, and facilitating their working together can build a strong business or turn an average one into a business that is great. Understanding their working styles is a key task in the process.

Fortunately, there are some tools that can aid in accomplishing that task. One such tool is called a DISC assessment. Through having a job candidate or current employee fill out a detailed questionnaire it can generate a report that identifies certain key behavioral traits. This information can be used to select key personnel, assemble them into effective teams, and assist them to work together more effectively.

DISC is an acronym which stands for four key behavioral styles. Each person possesses these four styles to a greater or lesser extent. When you and your key personnel understand the particular mix of these styles in your key employees, you can make better personnel selections, assemble more effective teams and enable your key personnel to better communicate and work together with one another.

“D” stands for Dominance, a word used to describe people who are results-oriented, often controlling individuals, who become easily impatient and prone to anger when others don’t keep pace. Persons who exhibit greater “D” in their behavior typically focus on setting goals and achieving results but may need to slow down at times to consider all viewpoints and the opinions of others.

“I” stands for “Influence,” a word used to describe people who are people-oriented extroverts, who are often expressive, talking with their hands and trusting of others. Persons who exhibit greater “I” may also be disorganized at times and require help to achieve greater focus toward results.

“S” stands for “Steadiness,” a word used to describe people who are introverted and often seemingly non-emotional or poker-faced. Persons who exhibit greater “S” may be somewhat possessive. While patient and cooperative, they become disoriented by sudden change, and seek greater security.

“C” stands for “Compliance, and sometimes “Conscientiousness,” words used to describe people who are introverted, task oriented individuals, thorough researchers who ask many questions and seek accuracy and order.  Persons who exhibit greater “C” generally require clear, logical rules to follow but true to their conscientious nature, they are precise and accurate in complying with those rules.

Everyone possesses each of these four characteristics in varying degrees. Having information about the particular mix of these four characteristics in your managers and other key personnel and work teams is a useful way to improve the operation of your business.

*** Richard Kranitz (Wisconsin) is an experienced attorney and business consultant in the areas of corporate, securities and tax planning for corporations, partnerships, joint ventures, limited liability companies, multi-unit enterprises, and a variety of different non-profit entities. In addition, he has counseled their owners and executives in compensation planning, estate plans, and asset protection. Attorney profile at: https://solomonlawguild.com/richard-a-kranitz-esq