“Responsibility = Accountability = Ownership. And a sense of ownership is the most powerful
weapon a team or organization can have.”
― Pat Summitt
You have heard the saying, "I own that". You have heard of people taking ownership, but what does that really mean? What does it mean to operate with an ownership mentality and how does that translate into today's business world? People can ‘own’ an idea or even a company, but if they do not have an ownership mindset they often fall short of the results they want.
Building a culture of ownership takes time and consistency and needs to start at the top levels of the company. There are several steps you can take to build a culture of ownership throughout a company. Here are the five steps to encourage an Ownership Mindset at all levels of your organization, outlined by Forbes.com in 2017.
Support Freedom and Responsibility
Empower employees to drive change, innovate, and improve processes and practices so that they can build customer intimacy and loyalty.Change the Mindset
Focus on contribution vs. control and encourage employees to add value, knowledge, and innovation to the company.Embrace Shared Values
Communicate that the success of the company hinges on the values that guide the desired behaviors and actions of employees.Focus on Positive Reinforcement
Encourage employees to use discretionary decision-making to solve a problem or to better serve the client, and aim to give that person positive reinforcement.Support Entrepreneurial Thinking
Promote transparency and support a focus on generating sales, cutting expenses, and looking for alternative sources of revenue.
Setting the tone of ownership is the first step to getting a culture moving in the right direction. Employees will understand their role more if you and your leadership team actively practice what you preach. It is impossible for leaders to know it all, so you must operate ownership by relinquishing control.
Share your vision and ensure that all employees at every level of the organization understand the “WHY” of decisions and direction. Get your teams involved in goal setting and planning so they feel part of the process and not just cogs in a wheel. Often, allowing creative approaches to finding solutions may take teams in different directions. Getting involved and instilling an ownership mindset across your organizations ensures you are tapping into the skills and resources you might have left undiscovered.
Start by finding a spark in your organization to blaze the trail to establishing an ownership culture in your company. Find those that react to problems quickly and decisively. Recognize those who are delivering more than expected and harvest their passion.
Encourage ownership by sharing it. It’s not about what or how much you ‘own’, it is more about how much you are willing to give away to gain.
Edited from the original article by ActionCOACH Carmen Gigar
https://www.actioncoach.com/blog/the-ownership-mindset-the-most-powerful-weapon-in-business/
December 5, 2023
