Generating profit can be a business commitment, but other than profit generating activities, people development is a life commitment.
Culture of our business is also considered as a resource. According to the theory of Resource-Based View (RBV), resources of a business have to be inimitable so that our business will achieve sustainable competitive advantage.
As such, "differentiation" is the key. One approach to be different from other businesses is to focus on People Development. People development will make us distinct from the other organizational leaders.
It is not wrong for businesses to put the priority on building revenue. However, I believe that other than building revenue, focusing on people development will be one of the strategies to gain competitive advantage, and to be sustainable in the industry. Working on people development will be the factor to establish retention in an organization.
A very important question to ask ourselves is whether our business is "result oriented" or "people oriented". In fact, these focuses are interrelated. I would suggest that focusing on our own people (our team) will enable us to achieve our results easier. If we have a great alignment within our team, we will achieve our goal easier and faster.
A team's growth will be highly dependent on our plans on people development. A relationship comes in two ways. If our team does not see any opportunity for their personal development, be it financial or personal, there is no reason for our team to stay on in the game with us. As such, growth is necessary within a company or a team to ensure sustainability.
To achieve people development, we should always empower our team to be who they are. It is not about making our team wrong, or criticising them for not being good enough. It is about empowerment, and by empowering our team to be who they are and what they are great of.
The act of giving is not only an act, it is my reason for moving on with my career.
We can have many ways of gaining wealth, but why not develop others while creating wealth in which we can ensure our fortune will be paying it forward?
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