Business lessons you can learn from the FIFA World Cup
The FIFA World Cup tournament is an exciting affair for sports enthusiasts worldover. One of the largest sporting events, FIFA draws the attention of people from the nooks and corners of the globe and even from outer space i.e., the International Space Station.
The ongoing 2022 Qatar World Cup has already made history with surprising wins and losses. The victory of Saudi Arabia over the title favorite Argentina in their first group match startled the football fans- the entire Saudi nation celebrated the surprising victory with a bash by declaring a public holiday!
The legendary footballer Lionel Messi-led Argentina landed in Qatar with a record of 32 unbeatable matches in the Copa America tournament, World Cup qualifying matches, and international friendly matches. The jolt from Saudi gave new energy to the team in the next group matches to emerge as group champions and beat opponents in their later knock-out matches to reach the final.
There are some significant business and management lessons one can learn from the FIFA World Cup.
Business & management lessons from World Cup
From organizing a global event to team management and performance, every business and management student and professional has a lot of learning opportunities from the football carnival.
- Learning from failures
Argentina’s loss to a comparatively small team in their first match in Qatar energized the team to beat stronger teams in their latter matches. It is a big lesson for every organization and entrepreneur. There is no failure but learning. Every loss exposes your strength and weakness; it re-energizes your confidence to succeed in your subsequent efforts.
- Importance of teamwork
England football team is a great example. Till the 2014 world cup, the team was focused on a few star-studded players. All strategies were developed around these players, but they were always unsuccessful. In 2018, coach Gareth Southgate changed the approach. He picked a bunch of young players for the 2018 and 2022 world cup, which seems to have been successful for England. Likewise, no successful business is a one-man show but a teamwork of a group of people at different levels. A synergy among members is significant for sustainable growth and achieving goals.
- Role of leadership:
The coach and leading players are crucial to the team’s success. Their motivation inspires the entire team to play well and get positive results. This applies to every business enterprise. The CXOs and leadership must come forward to boost the morale of employees under them to achieve goals and create, retain and shape the expectations of other stakeholders like shareholders, partners, and customers. The motivation must be sustained and consistent with positive feedback and a realistic approach.
- Evolving strategy:
Spain has been unsuccessful since their 2006 victory. The Spanish team was knocked out of the Qatar World Cup in the pre-quarter match with neighbor Morocco. Even in the group round, they lost to Japan after scoring the first goal. Adamant to the short pass tactic of the team is considered their failure. The team’s success depends on how quickly they can refine their strategy based on the opponent’s tactics. A dynamic business strategy is imperative for every organization to sustain amid challenges, especially in this VUCA world. It would be best if you refine your strategy depending on the situation. This will help you remain significant in all conditions.
- Review individual & team performance:
Football teams constantly review the performance of individual players and analyze their contribution to the team. The potential of the individual may not reflect the team’s performance. In such a scenario, the management must find the problems and fix the shortcomings. It applies to teams in organizations too. The underperforming teams need special attention from the top management to revive their performance.
- The beauty of diversity:
The FIFA World Cup is also the celebration of diversity. Each team is different from the others, and every team has individuals from diverse backgrounds. For example, the 2018 champion France had players of white, black, Christian, Muslim, and Arab origins, most of whom were migrants or descendants of migrants. Despite all these diversities, they played as a single unit and won the cup. There will be diversity in every organization – everyone will have diverse experiences, needs, perspectives, and skills. Giving a sense of unity is pivotal for business growth and success.
- Celebrate your achievements:
In football, players, team staff, and fans celebrate each of their team’s goals. Even the losing team celebrates their late goals. This is a great lesson for everyone – we should not wait for the ultimate success to celebrate. Achieving each goal is essential for the ultimate victory, so you should celebrate every success despite its size and scale.
- Focus on training:
Years of intensive training molds each player to find a position in their national team. Even though the match lasts 90 minutes, individual players and teams spend long hours in practicing and training. This helps them level up their performance in competitions. Individual-level training is essential for both employees and organizations. Professional training institutions in different domains offer cutting-edge training for employees. Either individuals or organizations can partner with these institutions.
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Apart from entertainment, the FIFA World Cup offers various lessons to management and business professionals, students, and organizations. Implementing these points will enable you to achieve your goals in a systematic way.
Enjoy the game!
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