RSPA Inspire 2013: In-Depth Education Sneak Peek
Business Solutions editor-in-chief Mike Monocello speaks with Tom Bouwer, Ownership Thinking, the keynote presenter at RSPA INSPIRE 2013. The Ownership Thinking Management System™ is based on 4 primary components: The Right People; The Right Education; The Right Measures; and The Right Incentives. We will go in-depth into each of these areas: The Right People: Create an environment that promotes learning and development, while at the same time increasing visibility and accountability. Your best people will excel, and your poorest performers are generally self-selected out by their peers. The Right Education: Teach employees the fundamentals of business and finance, how their company makes money and how they add or take away value. The Right Measures: Identify the organization’s Key Performance Indicators and teach employees to forecast results in an environment of high visibility and accountability. The Right Incentives: Create incentive plans that are self-funding and clearly align employee’s behavior to the organization’s business and financial objectives. We will be learning and discussing how these concepts can help RSPA members navigate their rapidly changing environment. For example, “how can this model help companies move from an up-front payment model to a SaaS model?” “How can we make our companies more profitable in the face of market convergence?” One of the keys to this is to eradicate entitlement thinking which is pervasive in companies today. Companies need to replace this entitlement mentality with a culture of earning; a culture of high visibility, accountability and purpose – that purpose being to create wealth where wealth may not have otherwise been created.