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Five Greatest Ideas for Runningthe Board Effectively • 105

executive to listen to him, changed the data recording system so that it gave us that

information and gained a number of excellent insights into the business as a result.

Unfortunately in this company when it came to a disagreement between the

chief executive and the non-exec it was not possible to get the chief executive, a man

from the North whose management style was akin to that of a nineteenth-century

mill owner, to change his mind, and the company lost the non-exec. The issue was

the number of times the board should meet, with the chief executive, who wasplainly

starting to find the meetings a hindrance to his getting his own way, trying

to cut the number down. In the end the company did not meet anyone's If your people

dreams, although it gave us all a good living for a while, and became more ore indeed the

or less a sole proprietorship partly because of this failure to listen to the greatestasset

voice of experience and knowledge. that you have

then treat them

right, since

Idea 61 -Do regular stakeholder analysis logically they

are a huge

Most companies have four stakeholders: customers, suppliers, sharehold- source of

ers and staff. (Bankers would probably want to add lenders who are not competitive

shareholders, but bankers are tedious and common so they can shut up.) edge - they

You should regularly review how your business is treating each of these. ore unique.

Ask yourself what would these people say about your company.

There is much in this book about the customer issues; so suffice it to say that

company-wide review of the treatment of your customers is vital.

Suppliers will give better service to customers with whom it is easy to do busi-

ness. Look for ways that you can help them with their problems and keep your

relationship and transactions with them as simple as possible. You never knowwhen

they might come up with the killer idea that makes you, as well as them, rich.

If your people are indeed the greatest asset that you have then treat them right,

since logically they are a huge source of competitive edge - they are unique. Don't

fudge soft issues such as job satisfaction and development and training. Put hard