By Tom Richardson and Augusto Vidaurreta
Enterprise is a touch activity simply because human touch, connection, and cooperation is the essence of industrial. Even in our transaction-driven, more and more digital international, reliable, long-lasting relationships are nonetheless primary to luck. but in so much businesses, relationships with consumers and staff or even extra so with providers, vendors, licensees, licensors, shareholders, creditors, strategic companions, board participants, universities, charities, the media and the group are the main underutilized resources.
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Extra resources for Business Is a Contact Sport
Starbucks, however, offered all benefits, including stock options, to all employees. The win for the employees is healthcare insurance and other benefits that they couldn’t get elsewhere. The wins for Starbucks were lower employee turnover (in a high-turnover business) and decreased recruiting and training costs. The company ultimately made money, saved money, and became stronger—wins well worth the cost, in Schultz’s view. The wins need not always be that dramatic. Employees see wins in improved career opportunities, new skills, teamwork, or even a change 20 ❘ BUSINESS IS A CONTACT SPORT of scenery.
This illustrates one of the many wins that a CRO can provide. In more significant situations, the wins involve large sums of money and relationships that determine the company’s success or failure. Thus, the CRO works with relationship owners across the company to raise their 44 ❘ BUSINESS IS A CONTACT SPORT awareness of relationships, develop and implement RAM strategies, create wins, and avoid relationship killers. Those relationship owners are equally important to successful RAM strategy. So, before examining the CRO’s job in more depth, let’s look at the rest of the team.
Finally, few companies have relationship owners for all stakeholders and someone (other than an extremely busy CEO) coordinating all their efforts. Managing relationships might not be new, but the idea of owning them is, and everything in business starts with ownership. Anything that’s critical to a company’s success has someone in charge of it. With someone in charge, that element will receive the attention it needs. People in the company will believe that it’s important and will know that they’ll be held accountable for it.