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Research Outline
Prepared for Daniel A. | Delivered March 22, 2020
Speed, Passion, Proactivity's Effect on Business Operations
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Goals
To provide examples of how SPEED, PASSION, and PROACTIVITY drive economic success of companies
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Early Findings
Speed and Business Success
According to Lindsay McGregor, the coauthor of Primed to Perform and co-founder of Vega Factor, a slower worker not only slows business operations but also
lowers the team's morale
. As such, it is important that companies recognize and help employees become more efficient.
According to Forbes,
92% of "executives
believe that organizational agility is critical to business success."
Increased speed contributes to the
development of new products
and product features. Speed is especially important as faster-moving startups are becoming more prominent.
In fact, many industry experts claim that the speed of business operations is not a luxury, it has become a
must-have for survival.
Some examples of companies that have lost significant market share due to not being fast enough include
Kodak, Xerox, and Sears.
While many technology companies have reported that they have been able to increase speed operations by as much as
20%,
if employees are not able to handle that speed, it is all for naught.
Passion and Business Success
According to a
D
e
l
o
i
t
t
e
survey, "workers who
demonstrate more passio
n in the workplace are more committed to their employers, and respond better to the diverse challenges of a globalized marketplace."
Some of the biggest innovators have shown that sometime all it takes is passion. As Steve Jobs has previously said, "the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to
love what you do
. If you haven't found it yet, keep looking. Don't settle."
Another survey by
D
e
l
o
i
t
t
e
, stated that "p
assionate workers
can drive extreme and sustained performance improvement".
Interestingly, a study by Silvia
H
u
b
n
e
r
, a professor and researcher at the University of Singapore, found that employees that work for "entrepreneurs who expressed a high degree of entrepreneurial passion were more likely to
express passion themselves
."
P
r
o
a
c
t
i
v
i
t
y
and Business Success
Being proactive means to be willing to seek feedback and opportunities to "
improve one’s skill set
and actively look for ways to positively contribute to the work environment."
According to a survey performed by the London School of Economics (LSE), proactive employees have a
higher chance to persevere
when faced with challenges.
In fact, such individuals view challenging events as
opportunities rather than obstacles
, which is crucial for the development of companies, as such employees can greatly help in improving products and client satisfaction.
Moreover, proactive employees tend to be more productive and happier because they feel
empowered to innovate
and get work done, increase customers’ satisfaction levels, and bring in more revenue.
The LSE study also showed that
leaders trust proactive employees
more and believe that they are more capable than other employees.
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