Monday, November 11, 2013

Lessons from P&G Values in Partnerships

Partnerships or limited companies like Moon & Stars Consulting Group, a company of P&G Alumni, can find itself with significant problems brought on by one or more of the principals who are not in alignment with the values of the partnership. This article is not to dwell on the problems caused, but rather to identify some issues from the Procter & Gamble Values and Principles that are worth highlighting and may be of use to you in your “partnership” endeavors. Here are the P&G elements, many of which you may have adopted for your company: Integrity • We always try to do the right thing. • We are honest and straightforward with each other. • We operate within the letter and spirit of the law. • We uphold the values and principles of the company in every action and decision. • We are data-based and intellectually honest in advocating proposals, including recognizing risks. Trust • We respect our colleagues, customers and consumers, and treat them as we want to be treated. • We have confidence in each other’s capabilities and intentions. • We believe that people work best when there is a foundation of trust. Respect for All Individuals • We believe that all individuals can and want to contribute to their fullest potential. • We value differences. • We inspire and enable people to achieve high expectations, standards and challenging goals. Mutual Interdependency • We work together with confidence and trust across business units, functions, categories and geographies. • We take pride in results from reapplying others’ ideas. • We build superior relationships with all the parties who contribute to fulfilling our Corporate Purpose, including our customers and suppliers. In a partnership that is just starting out and not a large company that has been in existence for several hundred years, it is easy to take these traits for granted. We assume that all members will operate in the same manner in which we personally operate. This is particularly true when we think we know their background. But do not be fooled. Commonality is not always the case, no matter how rosy the initial period might be. In some cases there is not commonality of values and selfish issues can tend to creep in and can become more and more prevalent with some individuals. They start to operate independently and not in the best interests of the company and your stake in it. This has to be weeded out quickly. It is difficult to test for values since most people talk a good game. So stay alert and watch what is happening. Hopefully, you will be able to see the problems before they become crippling and find a means to exit the damaging individual. One suggestion, beyond taking the extra time at the start of the relationship, is to continually make all of the financial transactions totally transparent. Let us know if you have problems or questions. We can help. Thanks, John Maver President Maver Management Group (925) 648-7561 Moon & Stars Consulting Group Founder and Managing Director Maver Management
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