A banker in Southeast Asia wanted to allow employees of a car rental agency to buy used cars from the employer. But not a single business unit was able to put together that product. Different units were stopped either by the existing product portfolio, the underlying risk, or regulatory guidelines. One of the banker’s colleagues, however, was able to facilitate valuable introductions across the company. That led to the solution being co-designed and jointly offered by two business units.
Credit the success of this new financial product to the banker’s informal power. Informal power — which is unrelated to your formal title — can enable you to mobilize resources, drive change, and create value for the organization as well as yourself. And in the modern workplace, informal power is increasingly pivotal and can secure your place within your organization.
Read more of this article by Maxim Sytch by clicking on the title link.
