Reading corner: Deliver What You Promise – The Building Blocks of Business
I was in a book shop scanning the shelves, with my eyes darting from title to title, when suddenly this one grabbed my attention. Maybe it was the bright colors on the cover, the quirky title, or the Lego bricks. Whatever it was, I’m happy I found it.
“Deliver What You Promise: The Building Blocks of Business” written by Bali Padda a former Lego CEO who had a crucial role in helping LEGO turn around its business and restore its financial stability after years of declining sales and profits.
Bali Padda explains how he built a culture of accountability, transparency, and excellence in business that ultimately allowed Lego to overcome the overall decline in the toy industry, after children increasingly turned to digital entertainment and other forms of play.
With real-world examples and case studies to illustrate his points, Bali Padda breaks down complex concepts into easy-to-understand language.
The book covers three main topics:
- The Importance of Promises
- The Building Blocks of Business
- The Power of Purpose
In the first section, Bali Padda discusses the significance of promises in business and why keeping them is crucial for long-term success. He explains how promises can be both explicit and implicit, and how understanding the difference between the two can help businesses avoid making false promises.
The second section is focused on the building blocks of business. Bali Padda explains how to create a culture of excellence and accountability by setting clear expectations, communicating effectively, and rewarding performance. He also provides guidance on how to develop effective processes and systems to ensure that promises are kept consistently over time.
In the final section of the book, Bali Padda explores the power of purpose in business. He explains how having a clear purpose can inspire employees to build brand loyalty, and drive innovation. He also shares his insights on how to align purpose with business goals and strategies to create a compelling vision for the future.
Bali Padda’s practical approach, combined with his vast experience allowed Lego to turn around, and by 2014, LEGO’s sales and revenue had returned to growth. The company continued to innovate and invest in new products and technologies, and its financial stability and position as a leading brand in the toy industry were restored.
This book is an invaluable guide for business leaders and entrepreneurs looking to build a culture of trust and reputation.