Page 124 - Using the Enneagram System to Identify and Grow Your Leadership Strengths and Achieve Maximum Success

Know the Business: Think and Act Strategically 101

When you truly Know the Business and are able to Think and
Act Strategically, the result is a Balanced Scorecard for your organ-
ization, business unit, or team that measures results not only by
financial indicators, but also by other equally important factors—
for example, intellectual and other intangible assets, high-quality
products and services that are important to valued customers, a
motivated and skilled workforce that is able to meet current and
future business needs, and a satisfied and loyal customer base.
As you read further and reflect on the 11 competency components
of Know the Business and Think and Act Strategically, rate yourself
in each area on a scale of 1 to 5. This will help you determine both
your areas of strength and the areas that need development.

The 11 Competency Components of Know the
Business: Think and Act Strategically

Know the Business: The Business Environment

COMPONENT 1: KNOWING THE INDUSTRY This includes understand-
ing the legal, political, demographic, and other environmental fac-
tors affecting the industry; staying current on industry trends;
networking with professionals outside your company; speaking and
writing as an industry expert; and routinely thinking about and
seeking new products and methods to change the way business is
done in support of your organization as an industry leader.

Low High
1 2 3 4 5

COMPONENT 2: KNOWING THE MARKETPLACE This involves knowing
how to fully tap into and strengthen your current and potential
markets; demonstrating insight into the competition’s strengths,
weaknesses, and strategies; understanding your own organization’s
strengths and weaknesses vis-à-vis those of your competitors; and