What Would Confucius Say About Business Targets?

New year new targets - Or not?

Now we all are back to work. Many would think: right, to improve staff performance, let's give them more targets. Think carefully: tougher targets (without sufficient resources and support) will easily lead to poor performance; poor performance compromises quality, and unacceptable quality results in fewer sales.

Confucius said, 'Small men think about Li (profit); gentlemen think about Yi (righteousness).' It is not numbers but the meaning of numbers that matters. To be competitive, businesses need to improve employees' performance. There are several key points bosses and managers need to consider in order to motivate or better still, excite the staff:

1. Communicate how new targets will make more customers happier - for example: pushing great products and services to a new client base; improving the quality of existing products and services; or developing new products and services based on past success.

2. Communicate how new targets will help other businesses become more efficient - for example: letting them know how your solutions are better than others with intensive marketing activities; improving internal systems to save costs with competitive pricing; or walking the talks by implementing your offer internally.

3. Communicate how new targets will give employees a sense of fulfillment - for example: stretching their skills and knowledge to new tasks and responsibilities; encouraging ideas and suggestions for innovation and efficiency; or empowering customer-facing staff with power and resources to satisfy and impress customers

Profit is important to business. However, key success factors in business are based on what it 'offers' rather than what it takes. The essence of business is about creating benefits for others (customers, employees and society); doing so the money will come.

Wishing you and your business a successful year.