In our Semi-Annual Strategy session at Beyond Insurance Brokerage S.A.E., our current and future leaders gather to discuss our accomplishments in the previous 6 months and our objectives for the 6 months ahead. We also discuss the 18-month and 3-year vision.
Our Leaders have a say in shaping our future and we need to build an organization in which its members are fully aware of the vision and have a say in shaping that vision.
We made it very clear that our number 1 priority for the upcoming 6 months is People Development. Our business is a people business and having the most knowledgeable employees in the industry is very critical for us.
We launched the "Beyond Champions Program", this program is aimed at decentralizing learning and sharing of knowledge. A champion from each department will spearhead learning and knowledge sharing among their colleagues, we will announce more details about this program later on as I believe other organizations will benefit from the initiative.
In this session, we also discussed and summarized a very interesting book;
"7 Powers, the foundations of business strategy" by Hamilton Helmer
7 Powers lays out a clear, compelling, and insightful framework for thinking about the persistent sources of competitive advantage.
The book shares seven sources of Power for a
business, all from the first principles, which are:
- Scale Economics
- Network Economics
- Counter-Positioning
- Switching Costs
- Branding
- Cornered Resource
- Process Power
Discussing books will be a constant feature in our strategy sessions and other workshops which is a very important step along the path of prioritizing people development and knowledge sharing.
