| You, Inc. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
If I posed the question "Do you operate your own business?" to corporate professionals, the response would probably be an overwhelming "No". Most corporate professionals view themselves as employees of companies who receive compensation in exchange for performing their job responsibilities. I am going to challenge you to rethink the no answer.
I entered the corporate sector in 1974. One of the first relationships that I established was with a co-worker named Jerry. Jerry was in his late 40's and had worked in the corporate sector for over 25 years. I asked Jerry about his career plans. He informed me that he would never reach the level of vice president, but would continue to contribute his knowledge and skills to the company until he retired. Jerry was a typical corporate professional working in one of the most staff reduction proof functions (Accounting & Finance). He enjoyed the certainty of career long employment in exchange for loyalty to his company and solid performance.
My, how the relationship has changed between employer and employee! Changes in the business environment such as the growth in global competition, shorter product lifecycles, frequent changes in business strategies and directions and new business models have changed the relationship.
The employer/employee relationship that prevailed during the 1970's was similar to a captive customer/supplier business relationship. Captive suppliers often have only one customer. Their customers buy their output. They may be owned by their customers, operating as wholly-owned subsidiaries or components of a business process such as the supply chain. Employers are no longer captive customers for employees to provide their skills through the performance of their jobs for an indefinite period of time. As captive employment left the corporate scene, positions were eliminated or outsourced through corporate restructuring and downsizing.
The captive customer situation is similar to an industry in which I worked for several years, the paper industry. Components of the paper manufacturing process include the growth, harvesting, and cutting of timber; conversion of fibers from the timber into pulp; and the conversion of pulp into paper. In most cases, companies owned all components of the manufacturing process. Pulp making operations or mills provided (sold) their output or product to the paper making operation. Pulp mills were captive suppliers to the paper mills.
Increased consumer demand for softer and more absorbent paper towels and tissue resulted in the sourcing of the company's pulp from other suppliers who made pulp from timber with the required specifications. Company pulp mill managers were now faced with finding other customers since their captive customer no longer required the output from their operations (their product). This challenge required competencies and skills such as marketing, selling and distribution that were not required in the captive customer business model. Pulp business leaders who either had or developed these skills were able to adjust to the change and survived. Those who did not saw their careers curtailed.
Now, I again ask you to answer the question "Do you operate a business?" If your answer is no longer a resounding or definite "no", I would like you to consider applying a process for which you are very familiar to the management of your career. This process is the Business Management Process.
The coming editions of From the Field will address applying the Business Management Process to establishing and managing You, Inc.
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Best wishes for the holiday season!
Linwood Bailey
Principal
Fields of Success
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