Purpose, People, Processes, Passion, and Performance
Many people think of key elements of marketing when they hear “the Five P’s.” Over the years, we’ve begun to associate them with the pursuit of excellence.
When we look at organizations that have been recognized with the Malcolm Baldrige National Quality Award and interviewed many of their senior leaders for our latest book, we saw that all of them start with articulating a strong sense of PURPOSE. This is often the stated vision and mission that are supported by the organization’s values. These leaders help everyone in the organization see how the work they do contributes to that higher PURPOSE.
These same organizations’ senior leaders have an intentional focus on engaging their PEOPLE. They communicate with transparency. They invest in their PEOPLE through training and development. They provide frequent feedback to coach and mentor for high performance. They encourage them to take an active role in improving their work and offering innovative ideas.
They focus on creating and deploying systematic PROCESSES that are designed to meet or exceed customer requirements. They use predictive measures (or leading indicators) to understand how these PROCESSES are likely to perform and to take corrective action if needed. They use outcome measures (or lagging indicators) to confirm that the PROCESSES are effective and efficient.
These senior leaders exhibit PASSION about what they do, what their PEOPLE accomplish, and the PURPOSE their organizations have in serving their customers. They have PASSION and commitment for staying on the journey, recognizing that excellence is not a destination. They have PASSION about the feedback they receive along the way and the value it provides to them as leaders.
And the first four P’s result in the fifth – PERFORMANCE. These organizations demonstrate benchmark PERFORMANCE across a variety of important measures – those reflecting customer requirements, customer satisfaction, and loyalty, workforce engagement, good governance and societal responsibility, legal and ethical behavior, and financial and marketplace results.
Wouldn’t you like to learn best practices from these types of leaders? You can at the Baldridge Quest for Excellence® Conference beginning this Sunday, April 2. https://www.nist.gov/baldrige/qe Get a jump start on your own pursuit of excellence. Will we see you there?