Three questions every manager must answer

Robin Li Baidu

Following are three questions every entrepreneur, salesperson, marketer, designer, and engineer should answer:

1) What brands does my business own?

2) What unique values do these brands offer?

3) What unique values do competitors offer?

 

What brands does my business own?

What if they do answer: They are aware of full potential of the business and can develop it fully and manage its risks.
Performance of most businesses does not depend on only one brand, but on many brands.
Each of these brands is a customer point of view and a set of values offered to customers.

 

What unique values do these brands offer?

What if they do answer: They are aware of what makes the business competitive, meaning what is the core of the business, which makes them good managers.
In case a brands do not offer a unique values, they are aware of the risk and can work to improve the business position.
Since offering unique value is the main goal of every business, this is crucial knowledge for any manager or staff member.

 

What unique values do competitors offer?

What if they do answer: They are aware of the competition and associated risks and can manage the business better.
If competitors do not offer unique value this knowledge as well is useful, especially since all competitors work towards creating it.

 

Importance of these questions

Being able to answer these questions shows that staff members see their work not as operational tasks disconnected from strategy, but as an important connection to the business success. This creates a feeling of ownership and improves their contribution and initiative.
Inability to answer these questions shows that staff member is operational and disconnected, which must affect their contribution to the business at some point.

Examples:
– Entrepreneur will be able to design a more focused and effective strategy;
– Salesperson will sell more and negotiate better if she knows the answers;
– Marketer will be able to make more focused decisions and get better ROI if she knows the answers;
– Designer will be able to design so brands and unique values are supported, and those of competitors beaten;
– Engineer will be able to develop so unique values are supported or new ones developed.

 

Image explained: Baidu, Chinese search leader, is founded by Robin Li. Baidu offered unique value in localizing search services for Chinese customers.

Written by: Nikola Tosic
Publishing date: 23 Nov 2016