• Ferhan Bulca

    I am an executive leader and a serial intrapreneur focused on innovation and design thinking. My purpose in life is to create products and services that make the world a better place to live in.

    In the course of my career, I have developed a deep understanding and expertise on all aspects of technology commercialization and product/service development. As a result, I have built multi-million dollar businesses from the ground up.

    I am the creator and the Lead Instructor for Business Innovation Certificate Program at University of Toronto, School of Continuing Studies.

    I offer business consulting services and I am available as a speaker for private and public events.

    Watch my recent talk at Ashoka Canada's Changemakers event at University of Toronto on YouTube.

  • Consult with me on Maven
  • Enter your email address to follow this blog and receive notifications of new posts by email.

    Join 300 other followers

Necessary But Not Sufficient

During these tough times, many employees have observed their companies taking very difficult decisions. These decisions helped some and were not enough to keep afloat some others. I experienced the latter, and unfortunately observed a once-profitable company go into bankruptcy protection.

This sounds like one of many stories we are hearing today. The situation I experienced is different in one major way: The company was a business experiment to apply a theory. Well, it did not work in the end but the path to the end was interesting and enlightening, if I may say so.

The CEO, President and the Board of the company strongly believed in “the combination of clever, committed people working together with a powerful approach could achieve any goal.” And, they either hired accomplished people or re-positioned those already in the company to significant roles. They explained, in excruciating detail, the methodology to apply and tools to use. People were committed to making the company successful.

What went wrong then? Some accuse the economic downturn, I beg to differ. Clever and accomplished people, thrown together and given tools, is not sufficient to achieve a goal. This is good leadership; place capable people to effective roles, give them the tools and show them the vision. It is necessary but not sufficient by itself.

The path to success is full with obstacles, detours and misconceptions. Good managerial skills and operational savvy is also necessary to navigate through ever-changing conditions, personality issues and communication problems. In my opinion, that is what caused the company meet its unfortunate end.

In summary, creating a vision and setting a goal is only a beginning to a business journey. Success depends on the capability to take the team to the goal, one day at a time, through good management.

I hope you find this posting helpful. I invite comments and feedback on my posting. You may reach me by writing to ferhan.bulca@intrascope.ca.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: