Grant Thornton
Identify what makes your organization unique.
“My key leadership secret is to identify what makes an organization unique or better, formulate this difference into a vision, build a strategy around the vision, execute on the strategy, and constantly communicate the vision and strategy to everyone within the organization,” says Ed Nusbaum, CEO of Grant Thornton, a global accounting, tax, and business advisory organization.
This differentiation can be based on a product, service, niche, or market space. Some marketers call this the Unique Selling Proposition, or USP—the single factor that makes you different or better than the competition.
Grant Thornton differentiates itself based on a niche, according to Ed, who says the firm focuses on serving midsize companies. “
Specifically, our vision is to be recognized as the leading business advisor and accounting firm serving midsize companies.
“But your strategy can evolve and move,” he adds, noting that Grant Thornton is now taking on larger clients as well as midsize companies.
To implement the strategy, Ed says, you must give individuals within the organization responsibility for making sure certain goals are met, and establish criteria for measuring performance.
“If you are not a ‘born leader,’ you can develop your leadership abilities through training and experience,” he says. Leaders must be able to build consensus within a team. “To be an effective managing partner, I need the support of the other partners.”
While a leader must be a team player, he or she must also be strong willed, and forceful enough to make unpopular decisions.
“For example, in the wake of the scandal surrounding Enron and its accounting firm Arthur Anderson, the partners at Grant Thornton were not sure that we should speak out on how to restore the public trust in the accounting profession through leadership,” Ed says.
“They were concerned that we would get caught in the cross fire. But we took a proactive position, and in fact hired 500 people from Anderson, including 60 partners. Since the Enron scandal, we have posted 25 percent annual growth.”
He concludes: “You never have all the answers. An executive must constantly develop to become a better leader and grow as time goes on.”