To Pop Profits & Prestige

 

 To Pop Profits & Prestige

Raise Astute Conscientiousness Enterprisewide

“What’s the big idea of proposing the imprecise and subjective concept of conscientiousness as the key quality to win business races when hundreds of incredible start-ups are rising every morning and when technologists and scientists are ushering in the new era of the Fifth Industrial Revolution (5IR) with awe-inspiring wonders like Metaverse, AI, space travel, Mars colonisation and Neurolink.”

That’s the question pundits raised during our initial consultations And, maybe, that question arises in the minds of many readers over-enchanted and infatuated by the emerging new world of AI/ VR/Metaverse et al.

The following definition of conscientiousness in “Psychology Today” magazine provides some answers: “conscientiousness is a fundamental personality trait - one of the big five - that reflects the tendency to be responsive, organised, hard-working, goal-directed, and to adhere to norms and rules……….it comprises self-control, industriousness, responsibility and reliability.”

More than the main definition, the interpretative note is more eloquent: “Conscientiousness is generally a key ingredient for success - in love as well as at work. It’s also a major predictor of health, well-being, and longevity.”

Obviously, conscientiousness is a winning master key for success in business, career and life and needs to be inculcated in everyone, but more intensively in technologists.

Winning Idea NumeroUno

ConscientiousnessOverridesSpendthriftTendencies&Saves   

The pundits, who question this centrality of conscientiousness in all fields, ignore the fact that in spite of faster automation, the final control will be with humans, who are essentially emotional and sentimental. Human behaviour is also basically guided by the traditional ‘shadripus’, the six enemies of the mind - kama (lust), krodh(anger),lobha (greed), moha (delusion), mada (pride) and matsarya (envy) or the Western equivalent of seven sins: pride, greed, lust, envy, gluttony, wrath. A high level of conscientiousness keeps these negative forces in check.

While the fast rise of some start-ups and the emergence of a few as unicorns together with the miraculous new technological wonders are admirable, we cannot ignore the shocking findings of reputable research institutions that the failure rate of start-ups is as high as 82%. It is also relevant to note that scores of multi-billion dollar companies dropped out of the prestigious Fortune 500 list during the last ten years. That’s also a colossal failure. Some researchers have done an in-depth study of the reasons for such a high rate of failure. Some have listed scores of reasons and suggested solutions, but the principal reason is disharmony among people. And this can only be eliminated by raising the conscientiousness across the entire ecosystem of an enterprise - suppliers, distributors and associates. 

There is also a monumental error of judgement in determining the business race, i.e. ranking companies, based mainly on market value rather than the intrinsic or real value. To make it to the higher ranking, there is an overemphasis on the ‘value-added’ concept, which is ‘the difference between the price of a product and the cost of producing it’.

To get a higher value-add, organisations cannot ignore the basic fact that for continuous progress on this count too, there is a need to raise the level of conscientiousness.  As stated above “Conscientiousness Overrides SpendthriftNess Tendencies (COST)". The popular cost reduction programmes often add to the cost as everyone looks for cost-saving programmes and ensures only the minimum compliance. Each individual with an emotional bond with the organisation and a sense of ownership of the job can imagine several ways to avoid waste, which is often far beyond what is reported. Therefore, the idea of ‘value added’ should be changed to ‘Enhancement of Values’.

And as revealed in the following widely reported statistics, making such a change can unearth a goldmine. That move will raise both profits and the prestige of any organisation.

• According to Gallup, “only 15 % of employees are engaged in the workplace”. If total real (physical, cognitive, emotional) engagement is considered the figure may be lower still. 

• “Today, more than a third of workers are searching actively or casually for their next job.” This is the finding of another institution, Haiilo.  

Both the above organisations report that the weaknesses in an enterprise, discussed above, cost the industry billions of dollars which can add to the profit if all-round conscientiousness is raised. 

Wizards! - Conscientiousness is Your Creed, Spread it!