I am often asked, ‘What makes a good business?’
Other people are heard to speak of sustainability, seemingly without understanding that if a business is to be environmentally and socially sustainable (and it should), then it must also be financially sustainable (profits pay for environmental and social programmes).
I believe that a good business is one that focuses on people; its staff, customers, and the community. Some business owners say, “People are our greatest asset.”
Actually, they are the company.
I also believe that people, rather than ‘things,’ will become more focused for business. They would force change in the business world.
Increasingly, the individual is looking not just for the right job, but also for the right working atmosphere. People regard the old values of the business world (the get-rich- quick and make-a-profit-at any cost) as selfish and outdated. They are less willing to work for them.
Community focus
It is the responsibility of businesses to make profits and create vibrant, honourable organisations with a commitment to the community.
This is good business with a genuine focus on the community. It helps a business connect with and build loyalty from customers, generating profits.
People (be they potential staff, customers, shareholders or all three) no longer evaluate a business solely on their annual report and accounts. They want to relate to the business on a personal level.
Along with the financial profit and loss statement, they want to know about the profit and loss for the environment, the community, the contribution made to the disadvantaged or developing nations.
A good business is one that does not allow growth to compromise values.
The New Zealand economy will truly take off if we align the pursuit of profit with our sense of the Kiwi values on which our country was built; our businesses will be more profitable, creating more employment, contributing to the environment and the communities in which they operate.
I am sure that business owners reading this article would say, “Hang on a minute mate; it is the Government’s job to worry about the environment and the disadvantaged. That is why I pay taxes.”
Equal opportunity
The Government must ensure equality of opportunity to succeed. Individual pursuit of success will raise the average income and lift people above the poverty line.
The Government needs to focus on education. As technological change continues to occur, low skilled jobs will disappear. We need a plethora of education opportunities so that every Kiwi child has the opportunity to thrive in an ever-changing world.
The role and responsibilities of individuals, businesses and Governments needs further debate. We seem to live in a world where individuals and businesses have forgotten the values that are important and transferred all responsibility to the Government.
Adrian Dixon is an experienced consultant and strategy specialist. He is a member of the Panel of Judges for the Indian Newslink Indian Business Awards 2014.
Email: ajdixon@xtra.co.nz
