In the real estate, capital expenses are financial investments to improve the value of a building such as replacing the windows to a higher degree of energy efficiency or to re-roof the building if it's leaking. Those improvements amortize over a long time period. A new roof last for 25 years or longer, new windows can exceed 25 years easily.
The building industry knows that essential components of a building can not be patched up and fixed with duct tape. The core structure is essential for the integrity of the building. The structure needs attention. Negligence will lead to a collapse of the structure.
Every sport depends on humans. And humans make mistakes. Athletes have relationships and interact with team mates and coaches, with the media and they play a key role for the future generation and therefore future customers of the organization. Social media is allowing us to take part in athlete's life. We indirectly take part in their lives and they share their successes and failures with us -- their fans and followers.
A problem in the organization is a people problem.
How does the organization prepare for success? Are organizations improving the athlete's context which would be considered a capital expenditure?
The capital investment approach would benefit the athletes for their whole career (like a new roof). A quick fix and covering the problem with "tape" would only postpone the collapse of the structure?
Human Capital Expenditures -- A Guaranteed Pay-off.
Only a few athletes -- those that had spent meaningful time to prepare their career with a mentor or coach have a clearly defined philosophy about themselves and their core values. Those athletes can be found at the top. They got there because they developed a clear understanding of who they are and what their largest contribution to the world of sport and society is. Those traits have to be developed. The physical and mental skills have to be honed every day. Without a clear understanding of how to create a lasting legacy, it's very difficult to purposely move forward. Organizations must acknowledge that investing in the self-development of their athletes is a human capital expenditure and it will pay off each year of their career. And it will last for as long as a roof of a building if it's done right.
Organizations, owners, managers and leaders in pro franchise environments must engage in a new approach of capital expenditures within their structures. Investing in their own people, those that run the organization on a day-to-day basis, the coaches and support team and last but not least the athletes and their immediate core group is the paradigm shift and will lead the way towards a culture that respects relationships, builds a compassionate and strong character inside which ultimately becomes visible to the outside. They are the core structure. Their dedication and passion drives the engine -- 25 years and longer.
Organizational, individual leadership and athlete's coaching at www.dirkstroda.com
-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.
No comments:
Post a Comment