Build a winning global business

In this video, David outlines how a reexamination of brand values can revitalise any organisation.

Paying lip service to the idea of mission statements is a common mistake. A good mission statement isn’t a public relations move, it’s what defines and guides your company’s culture by clearly outlining its values. It’s the rock on which a business is founded.

Stern recognised the NBA’s fame and tremendous power.

Not only in the marketplace but also in people’s lives. And that with that power came the responsibility not only to do well as a brand, but to do good in the world. Internally, this meant coming together like a family whenever tragedy struck in the life of an NBA employee, and to celebrate their successes.

Externally, it resulted in a program called “NBA Cares” that builds schools, libraries, and housing wherever NBA games are held. Having defined its brand, the NBA committed to being a great partner to all of its partners. This meant taking the same care with advertisers’ brands as they would take with their own. It meant doing meticulous analytics and demonstrating careful concern for the success of each campaign. From merchandisers to television networks, the NBA took its partnerships very seriously –– an investment that has paid off exponentially.

Lastly, Stern points out that good brand management means constant vigilance for new opportunities. The NBA transitioned with great success into digital, social media, mobile platforms and more, racking up billions of views, likes, and shares worldwide. It has also made the most of globalization, finding new ways to stake out territory in emerging markets.

Over to you

After you watch the video consider the following questions below. You may wish to share, where appropriate, some of your thoughts with your fellow learners in the comments below.

• What is your company’s mission statement?
• What is your understanding of what the statement means, in terms of the company’s core values?
• How do those values manifest in the product, the way the company treats its employees, and the company’s relationship with the outside world?
• Are there any disconnects? Areas in which the culture of the company has gotten out of step with the mission statement?
• If so, what can be done to bring the two into alignment? Is it time to reevaluate the mission or to recommit to it?
• What kinds of partnerships are most crucial to your business?
• Describe one of your company’s best current or past partnerships. What made/makes it such a success? Now, do the same for one of its least successful partnerships. What went wrong on your end? On theirs?
• What new opportunities has your company seized on effectively in recent years, and how was it able to take full advantage of them?
• Have there been missed opportunities? Which ones and why?
• What technological, cultural, or industry-wide changes are you keeping watch on as future opportunity spaces?

There are a lot of questions here, the temptation is to rush but take your time to think about each one in turn.