Characteristics of a Robust Business
These stand-out attributes of a robust business are set out in summary form, and in no specific order of importance.
– The secret of any successful business is firstly the robustness of the principles it is founded upon and the consistency and loyalty with which these are made visible in all its measures and behaviours.
– Secondly, the clarity and consistency of the thoughts, ideas, and intentions of the top level, and how these are relayed to and espoused by its workforce determine its strength, health, and vigour to stand firm in all circumstances.
– There is cohesiveness to all human interactions in the organisation. Every employee is seen as and strives to perform like a stakeholder in the business, doing the right thing and doing it right.
– Such an enterprise sees no need to make waves; it simply sails along nonchalantly.
– One hallmark of a robust business is that its philosophical base is aligned to the principles of natural human values. Matters such as gender balancing and fair treatment of employees, customers, suppliers, and public in general are embedded in its DNA. They do not have to be enforced, contrived, or dictated by any outside agency; they just happen as an instinctive response to the basic business need to do the right thing.
– Their culture, ethos, values, behaviour and unflinching adherence to their vision and mission make their peers and industry rivals look up to them as standard bearers for their business sector.
– Of equal measure is their passion for innovation and consistent investment in safe, efficient, and economic methods of operation, production and other processes which makes them stand out.
– The global environment, public at large and compliance with pertinent regulations are always kept at the centre of all their endeavours; these are never compromised in the interest of profit and shareholder gratification.
– They are accustomed to seeing profit as a natural consequence of satisfying all criteria for decent corporate existence, and not as a prime objective. When profit has soared, instead of patting themselves on the back, the core management debates how some of the excess profit can be shared with employees and customers.
– Their criteria for measuring performance effectiveness are mandatorily inclusive of customer satisfaction & retention, employee empowerment, care and training & development, product failures and returns, contribution to environmental obligations, and other such as donations to worthy causes.
– The concept of loyalty to the business tends to be deeply rooted and flows both ways from ‘top to bottom’ and ‘bottom to top’ “To perform loyally” is ingrained in every employee’s work ethic which stems from the induction training given at the start of employment. Hence, there is no place for corruption-inducing cash-based incentive schemes.
– Striving constantly to better their standards holistically, the management never thinks they have arrived. They believe and know “our industry is a projection of ourselves” and apply themselves to self-transformation as the panacea for influencing and transforming their entire industry. These enterprises exist to be more collaborative and less competitive.
– Robust businesses are run and managed by natural born leaders whose stand out qualities are that they exemplify models of rectitude, generate bonhomie and goodwill in group environment and are supremely optimistic.
Finally, for a business to be robust it does not have to be measured by the size of its turnover, profit, assets, or manpower. It is the factors such as trustworthiness of its people, high product quality, increasing number of returning customers, employees taking pride in belonging to the organisation, respect for and compliance with regulations and contribution to its social and economic environment.