FranklinCovey, launched in 1997, is a leading name when it comes to leadership and business execution training for companies and individuals. The company also focuses on helping individuals be more effective with the help of its assessment services for organizations. In 2019, the company’s worldwide revenue was $225.36 million from the sales channels it has in more than 120 countries worldwide.
FranklinCovey was formed through a merger between Franklin Quest, owned by Hyrum W. Smith, and Covey Leadership Center, owned by Stephen R. Covey. Stephen R. Covey is the famous author of the book The 7 Habits of Highly Effective People that is based on his studies on leadership and leadership ethics.
The current Chairman & CEO of FranklinCovey is Robert Whitman, with Stephen Young being the Chief Financial Officer & Controller. As of 2016, the company works on an online subscription business model, wherein it provides all its training content for an annual fee.
The Mission Statement of FranklinCovey reinforces its business objective of providing organizations and individuals with effective skills and training to have permanent changes in human behavior that will help them in personal and organizational growth.
FranklinCovey’s Vision statement talks about its role in making a positive impact on the way people live and achieve their business and personal goals through its services.
FranklinCovey sees itself as the world leader in helping organizations achieve success by transforming the behavior and working style of employees by making it more useful and effective. Though changing human behavior is difficult, FranklinCovey has the confidence to achieve the same and enable organizations to become more competitive and profitable. FranklinCovey’s core values are focused on abiding by principles, client satisfaction, giving respect, and making a profit for business growth.
FranklinCovey has a strong mission statement that asserts, “We enable greatness in people and organizations everywhere.” A deeper interpretation of this mission statement helps us understand the underlying thought behind it and how it motivates FranklinCovey to achieve its goals.
Self-confidence: The words “We Enable” reflect the company’s faith in its capabilities. Through these words, it can also be deciphered that FranklinCovey has taken upon themselves the responsibility of significant transformation that organizations want to see in their employees. It reinforces its ability to help people grow and build their organizations.
Belief in people and organizations: FranklinCovey recognizes the fact that people can be great performers if they are guided, motivated, and made aware of the same. It further believes that if the inner talent of the people can be tapped strategically, it can result in the best outcome for organizations as a whole. It also acknowledges the fact that organizations can also be more effective and achieve their goals if they recognize their strengths and the abundant talent within their team.
Achieving excellence everywhere: Talent and performance have no boundaries or limitations, and channelizing it can result in maximum effectiveness. FranklinCovey helps the organizations in their quest for excellence and also guides them so that they are not affected by regional and international boundaries and stay open-minded.
FranklinCovey Vision Statement
The vision statement of FranklinCovey is quite bold and forthcoming as it states “Our vision is to profoundly impact the way billions of people throughout the world live, work, and achieve their own great purposes.” The main components of this vision statement are:
Spreading wings globally: It talks about the heights the company wants to achieve by not restricting itself to a limited area. It sees itself in impacting the lives of billions of people around the world through its training methods. FranklinCovey is confident about the effectiveness of its training and is ready to take on the challenge of impacting billions of lives all over the world through it.
Awareness and Action: FranklinCovey believes in helping people achieve organizational excellence and personal growth by becoming aware of their competencies and taking action in the right direction. In other words, the company believes in the inherent capabilities of people, their desire to achieve greatness, and their ability to make the right choice.
The company can play an important role in making them aware of how to bring about certain changes in their lives that will help them achieve personal goals. Further, the vision statement declares that FranklinCovey’s business and training methods are not restricted to just one or two countries, but have the potential to be used and accepted globally.
FranklinCovey Core Values
As an organization that helps individuals and other organizations transform themselves, FranklinCovey has specified certain core values that guide its operations and business principles. These core values help team members be diligent and provide the highest service levels to customers, partners, and other team members.
The four core values FranklinCovey follows are:
Commitment to Principles: FranklinCovey believes in practicing what it preaches and expects its team members to maintain the same high standards and excellence that it preaches during employees’ training. The company strongly advocates that principles are everlasting and play a key role in building a strong foundation.
Lasting Customer Impact: FranklinCovey’s business model and training focus on helping their clients achieve their business and personal goals. The company believes that if their clients attain their goals, their own success is sure. As such it helps its clients to be highly effective using the knowledge, tools, and techniques it imparts to its team. In simple words, FranklinCovey’s wants to play an instrumental role in helping its clients in their quest for excellence.
Respect for the Whole Person: Through this statement, FranklinCoveywants to stress that to achieve the best results, it is important to treat everyone as an equal. It expects its team members to treat everyone in and outside the organization with respect and without any discrimination based on gender, age, race or color.
Profitable Growth: While aiming to help clients attain organizational excellence, FranklinCovey also focuses on increasing its bottom line. Only a profitable business can work towards constant innovation and provide a highly impactful and positive experience to its customers in line with the organization’s goals.
Conclusion
FranklinCovey knows that creating a transformation in the mindsets of people and organizations is no easy task and requires highly specialized skills and techniques for them to accept the transformation.
However, once the challenge has been accepted and worked upon diligently, the results are truly outstanding with both partners achieving their objectives and goals. FranklinCovey through its mission statement, vision, and core values encourage its team members to strive for excellence by helping their partners succeed.
