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economy. After the 1992 Olympics in
Barcelona, a group of local political
and business leaders realized, with
some disappointment, that the event
hadn’t triggered the economic growth
they had expected. So they resolved
to change the region’s economy in
other ways. Led by the mayor, the
group created a common base of
technologies and practices and set up
training programs for local enterprises.
By 2014, after two decades of
persistent effort, the city had become
a hub for research and technology
companies. One legacy of the Olympics
is a group of about 600 sports-related
companies with a collective annual
revenue of US$3 billion and 20,000
employees.
In carrying out this first principle, the
top executives of your company must
lead the way. They must learn to set
lofty goals, establish a clear message
about why those goals are relevant,
and stick to them without compromise.
This may take a while, because lofty
goals require patience. You need
to persevere without lowering your
standards, and the confidence to
believe you can reach the goals soon
enough. Leaders must demonstrate
that courage and commitment, or no
one else will. At the same time, don’t
be surprised if the rewards start to
appear sooner than you expect — both
financial rewards and the intrinsic
pleasure of working with highly capable
people on relevant projects. With high
aspirations (for example, IKEA’s goal
of “creating a better everyday life for
the many people” or Amazon’s self-
proclaimed role as the “everything
store”), you recruit talented people
who are deeply committed to being
there. That’s one way you’ll know that
you’re aiming high enough: The whole
organization will start to feel like a
better place to work.
2. Build on Your
Strengths
Your company has capabilities that
set it apart, things you do better
than anyone else. You can use them
as a starting point to create greater
success. Yet more likely than not,
your strongest capabilities have been
obscured over the years. If, like most
companies, you pursue opportunities
that crop up without thinking much
about whether you have the prowess
needed to capture them, you can
gradually lose sight of what you do
best, or why customers respond to it.
Take an inventory of your most
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