“You have to take into account the situation
and the person you are talking to.
“Certain departments will need to be
supported properly and you have to
watch over them. With others, you have
to be a little bit softer until they are
able to perform at the level you expect.
At the same time, you have to be firm
but fair. You have to recognise those who
are performing and those who are not, so
that we have some sense of order and
achievement for everyone.
Being open to feedback from all levels
of the organisation, as well as its external
stakeholders, is also vital, Ferdinand says. “You
have to communicate with your employees
and managers, but also your customers,
partners, suppliers, stockholders. It’s a matter
of listening. Honestly, the best form of doing
business is to try to listen to them all. It’s
impossible to know everything, but we pick
the best ideas and put them all together.”
Ferdinand says the best business advice he
has ever received dates way back before theinception of CW Home Depot. “In my
formative years, my father told me that
you can make money or lose money, but
that the values you keep and values that
you honour whenever you do business
should go beyond just numbers. Whatever
you do with your friends, or in business,
should have something beyond money that
you honour. It is crucial to have that view.
You have to respect everyone and they
will reciprocate.
“I’m not an original thinker; I defer to
my father. In business, there are so many
techniques you can use. You can advise, listen,
decide, whatever, but if you understand the
foundation of your values and how you want
to run everything, that is crucial. In the end,
it’s about how you treat people. You have to
show them respect and be honourable to
everyone and have the right values. That is
the best foundation that you can apply, not
just in work but in your family life and with
friends. Once you apply those things in your
life, how can you go wrong?”Half page advert
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