“You cannot manage what you cannot measure.”
Building a successful business requires more than just understanding customer discovery, go-to-market strategies, legal issues, and raising capital. Successful businesses are built on foundations that enable leaders to turn information into knowledge in order to scale, evolve, and recover. This foundation requires entrepreneurs to understand and implement strategies in Process Management, Organizational Culture for Competitive Advantage, and Crisis Management.
Going from product/service focused to business model focused takes time and intentional effort but is necessary in order to innovate, differentiate, and compete in today’s economic climate. Also, building better businesses and communities is a proactive approach to addressing inclusion, diversity, and safe spaces in tech.
Although we live in an information age, information itself is of little value. It's only when information is turned into knowledge that it can be used by organizational leaders to make decisions.
The challenge that faces many entrepreneurs is that the "how-to" to turning information into knowledge has been in the hands of the few. Those who understand business operations because of formal or informal education. What we end up with is a leadership culture that reflects the individuals with the power, agency or resources to make change bur don’t have the perspective or a strong interest in doing so and the people with the perspective and a strong interest but lack the power, agency or resources.
We must shift our focus to helping entrepreneurs, particularly those who are members of underrepresented and marginalized groups, gain the basics of a business school education in order to innovate, compete and improve inclusion & diversity within our organizations and communities.
In 1971, the U.S. Chamber of Commerce commissioned Lewis F. Powell to develop a strategy for ensuring that government worked in favor of Big Businesses interest. The document that was created, now known as The Powell Memo, clearly outlines the effort that’s required to make long lasting, impactful change. Although, some may feel that the Powell Memo was the demarcation point in American history related to the U.S. governments relationship with business, I propose that what is outline worked and can be used to guide efforts for improving inclusion and diversity in our organizations and communities world-wide.