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Liquidity Financial Ratios Cash Ratio The Cash Ratio is a stringent financial metric that measures a company's ability to cover its short-term liabilities using only its cash and cash equivalents. This ratio excludes other current assets, providing a conservative view of a company's liquidity. Read More Current Ratio The Current Ratio is a financial metric that measures a company's ability to pay off its short-term liabilities with its short-term assets. It indicates the liquidity and financial health of a company by comparing current assets to current liabilities. A higher ratio suggests that the company is more capable of covering its short-term debts. Read More Quick Ratio The Quick Ratio, also known as the Acid-Test Ratio, is a financial metric used to evaluate a company's ability to meet its short-term obligations with its most liquid assets . Unlike the current ratio, the quick ratio excludes inventory from current assets, considering only cash, marketable securities , and accounts receivable. This provides a more stringent measure of liquidity. Read More

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Download Guides Enhancing Your Social Skills: A Simple Guide to 10 Effective Techniques Explore practical tips to improve your social skills effortlessly in our guide. Discover 10 effective techniques to enhance your interactions and relationships at your own pace. DOWNLOAD Enhancing Business Performance: A Guide for Financial Directors with 7 Effective Strategies Empower financial directors with actionable strategies to elevate business performance. Explore our guide for 7 proven ways to drive success and maximize efficiency. DOWNLOAD Mastering High-Performance Work Systems (HPWS): A Comprehensive Guide Unlock the secrets to building High-Performance Work Systems (HPWS) with our comprehensive guide. Explore effective strategies and practical insights to enhance workplace efficiency and productivity. DOWNLOAD Mastering the Art of Phone Etiquette: A Guide to Winning Over Customers with Every Call Learn the secrets to winning customers over the phone with our comprehensive guide. Discover effective techniques to make every call count and elevate your customer service game. DOWNLOAD Embrace Authenticity: 10 Reasons to Shift Away from Transactional Business Relationships - Your Guide to Building Genuine Connections Discover why shifting away from transactional business relationships is key to creating genuine connections and unlocking success in our insightful guide. Explore 10 compelling reasons to embrace authenticity and build meaningful professional relationships. DOWNLOAD

Leverage Financial Ratios Debt Ratio The Debt Ratio is a financial metric that measures the proportion of a company's total liabilities to its total assets. It is an indicator of the financial leverage of a company, providing insights into its capital structure and ability to meet long-term obligations. A higher debt ratio suggests more leverage and potentially higher financial risk, while a lower ratio indicates a more conservative approach with less reliance on debt. Read More Debt to Equity Ratio The Debt to Equity Ratio is a financial metric that compares a company's total debt to its shareholders' equity. This ratio indicates the relative proportion of debt and equity used to finance the company's assets, providing insights into its financial leverage and risk. Read More Interest Coverage Ratio The Interest Coverage Ratio is a financial metric used to determine how easily a company can pay interest on its outstanding debt. It measures a company's ability to meet its interest obligations with its earnings before interest and taxes (EBIT). A higher ratio indicates a greater ability to cover interest expenses. Read More

Efficiency Financial Ratios Asset Turnover Ratio The Asset Turnover Ratio is a financial metric that measures the efficiency of a company in using its assets to generate sales. It indicates how well a company is utilising its assets to produce revenue. A higher ratio signifies better performance and efficient asset utilisation. Read More Days Payable Outstanding (DPO) Ratio The Days Payable Outstanding (DPO) ratio is a financial metric that measures the average number of days a company takes to pay its suppliers after receiving inventory or services. It provides insights into a company’s payment practices and liquidity. A higher DPO indicates that a company takes longer to pay its bills, which can be beneficial for cash flow management. Read More Days Sales in Inventory (DSI) The Days Sales in Inventory (DSI) ratio is a financial metric that measures the average number of days a company takes to sell its entire inventory during a specific period. It indicates how quickly a company can convert its inventory into sales. A lower DSI value suggests efficient inventory management and quicker sales. Read More Inventory Turnover Ratio The Inventory Turnover Ratio is a financial metric that measures how often a company sells and replaces its inventory over a period. It indicates the efficiency of inventory management and how well a company converts its inventory into sales. A higher ratio suggests efficient inventory management and strong sales. Read More Payables Turnover Ratio The Payables Turnover Ratio is a financial metric that measures how efficiently a company manages its accounts payable by determining how many times it pays off its suppliers within a specific period. This ratio helps assess the company's short-term liquidity and creditworthiness. Read More Receivables Turnover Ratio The Receivables Turnover Ratio is a financial metric that measures how efficiently a company collects its accounts receivable. It indicates how many times a company converts its receivables into cash within a specific period, reflecting the effectiveness of its credit and collection policies. Read More

Profitability Financial Ratios Gross Margin The Gross Margin Ratio is a financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold (COGS). It indicates the percentage of sales revenue that exceeds the COGS, reflecting the efficiency of a company in managing its production costs relative to its sales. Read More Operating Margin The Operating Margin is a financial metric that measures the proportion of a company's revenue left after paying for variable costs of production, such as wages and raw materials. It indicates how much profit a company makes from its operations before deducting interest and taxes, reflecting its operational efficiency and pricing strategy. Read More Return on Equity (ROE) Return on Equity (ROE) is a financial metric that measures the profitability of a company in generating earnings from its shareholders' equity. It indicates how effectively the management is using the company’s assets to create profits and is a key indicator of financial performance and efficiency. Read More Return on Net Assets (RONA) Return on Net Assets (RONA) is a financial performance metric that measures how efficiently a company uses its net assets to generate profit. It indicates the profitability and operational efficiency of a business by comparing its net income to its net assets. A higher RONA value signifies better asset utilisation and profitability. Read More

Glossary of Common Business Financial Terms The Matching Principle The matching principle is an accounting concept requiring expenses to be recorded in the same period as the revenues they help generate. This principle ensures accurate financial reporting by aligning costs with associated revenues, promoting consistency and comparability in financial statements. It is fundamental in accrual accounting. Read More Cash In business financials, "cash" encompasses the most liquid assets, including currency, bank deposits, and cash equivalents. These are readily available funds crucial for daily operations, paying expenses, and managing short-term obligations, reflecting a company's liquidity and financial health. Read More Balance Sheet A balance sheet is a crucial financial statement that provides a snapshot of a company's financial position at a specific point in time. It details the company's assets, liabilities, and equity, offering insight into what the company owns, owes, and the shareholders' stake. The balance sheet helps stakeholders assess the financial health and stability of the business, following the fundamental accounting equation: Assets = Liabilities + Equity. Read More Goodwill Goodwill in business is an intangible asset representing the excess value paid during an acquisition above the fair market value of identifiable net assets. It encompasses factors such as brand reputation, customer loyalty, employee relations, and proprietary technology, reflecting the acquired company's potential for future profitability. Read More Depreciation Depreciation is the accounting process used to allocate the cost of a tangible asset over its useful life. It helps businesses spread out the cost of an asset and match it with the revenue generated from its use. Common methods include straight-line depreciation, declining balance, sum-of-the-years' digits, and units of production. This process impacts financial statements by reducing the asset's book value and recording depreciation expense. Read More Allocations Allocations refer to the method of distributing financial resources, budgets, or costs to various departments, projects, or cost centres. This practice helps organisations manage expenses, track performance, and ensure efficient use of resources. Read More Accruals Accruals in accounting involve recognising revenues and expenses that have been incurred but not yet recorded in the financial statements. This practice ensures that income and expenses are matched to the period in which they are earned or incurred, providing a more accurate picture of a company's financial performance. Read More Income Statement An income statement, also known in the UK as a profit and loss account, is a financial document that summarises a company's revenues, costs, and profits or losses over a specific period. It is essential for assessing a company's financial performance and includes key components such as revenue, cost of sales, gross profit, operating expenses, operating profit, other income and expenses, profit before tax, tax expense, and net profit. Read More Capital Expenditure (CAPEX) Capital expenditure (CAPEX) refers to the funds a company uses to acquire, upgrade, and maintain physical assets such as property, buildings, machinery, and technology. These investments are made to enhance a company's operational capacity, efficiency, or asset longevity and provide long-term benefits. Unlike operating expenses, CAPEX is capitalized and depreciated over the useful life of the asset. Read More Operating Expenses (OPEX) Operating expenses (OPEX)) are the ongoing costs required for running a business's core activities. These include salaries, rent, utilities, supplies, maintenance, advertising, administrative costs, and other day-to-day expenses. Effective management of operating expenses is crucial for maintaining profitability and business sustainability. Read More Book Value Book value is an accounting term representing the value of an asset or company as recorded on the balance sheet. It is calculated by subtracting accumulated depreciation, amortization, or impairment costs from the original cost of an asset. For a company, book value is the net asset value, found by deducting liabilities and intangible assets from total assets. It is a key indicator used by investors to assess whether a stock is undervalued or overvalued compared to its market value. Read More Cash Flow Cycle The cash flow cycle, also known as the cash conversion cycle, represents the time it takes for a business to convert its investments in inventory and other resources into cash flows from sales. This cycle includes the stages of purchasing inventory, production or preparation, sales, accounts receivable, and collection. Efficient management of the cash flow cycle is crucial for maintaining liquidity, enhancing profitability, and ensuring the business can meet its financial obligations. Read More

Case Studies Best Western Hotel, Reading Best Western Hotel, Reading, finds many new opportunities to increase their revenues from their existing Front Desk operations using Awardaroo. DOWNLOAD Hotels Oakfield Estate Agents "As I sit in the branch I have been genuinely impressed by how good the calls sound now with the staff using the coaching given." Kerry Newstead, Partner DOWNLOAD Estate Agent Bond Oxborough Phillips "We are closing more business, getting more enquiries. Crucially the programme is delivering more revenue, and I feel more able to expand the team now." Neil Phillips – Partner DOWNLOAD Estate Agent Space Station Self Storage PLC Using insights from Awardaroo, Space Station Self Storage grew significantly throughout the 2008 recession and fended off much bigger rivals. DOWNLOAD Self Storage

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Value-Driven Business Coaching Operate your business like an asset, ready to sell—efficient, scalable, and designed for value-driven growth. Our high-performance workflows streamline operations and drive profitability, creating a business that works for you and your family. Build lasting value and secure your family’s future with sustainable, value-driven success. Estate & Letting Agents Business Coaching for Estate Agents and Letting Agents Leverage business coaching for estate agencies and letting agencies to win more instructions, streamline operations, ensure compliance, and maximise revenue for sustainable, long-term growth. Read More Gyms and Health Clubs Business Coaching for Gym Owners and Health Clubs Grow your Gym and Health Club with Gym Owners Business Coaching Read More Kitchen and Bathroom Showrooms Business Coaching for Kitchen and Bathroom Showrooms and Installers Grow your market share and business with expert business coaching, tailored to the kitchen and bathroom showroom and installer industry. Read More Plumbing Services Business Coaching for Plumbing Companies Business coaching for plumbers. Tailored strategies for your unique industry to grow your market share. Read More Construction Companies Value-Driven Business Coaching for Construction Companies Optimise workflows and business performance with construction business coaching for builders and installers. Drive sustainable growth and prepare your business for future success. Read More Caravans and Motorhomes Business Coaching for Caravans and Motorhomes Companies Grow your business with expert business coaching for Caravans and Motorhomes companies. Read More Self Storage & Removals Business Coaching for Self Storage Companies Business coaching for self storage companies. Grow your business to increase your market share. Read More Car Dealers and Garages Automotive Business Coaching Business coaching for the automotive industry. Whether you're a garage or a car dealership, we can help. Read More HVAC, Boiler and Heating Services Business Coaching for HVAC, Boiler and Heating Services Companies Grow your HVAC business with sustainable business coaching for HVAC Businesses, boiler and heating services companies. Read More Holiday Parks and Resorts Small Business Coaching for Holiday Parks and Resorts Grow your small business with expert business coaching for Holiday Park and Resorts. Read More Windows, Doors and Conservatories Business Coaching for Windows, Doors and Conservatories Showrooms and Installers Grow your market share and business with expert business coaching, tailored to the windows, doors and conservatories showroom and installer industry. Read More Hotels and Hospitality Business Coaching for Hotels and Hospitality Expand your business with bespoke Hotel and Hospitality business coaching, tailored to the unique needs of the hospitality industry. Read More 1 2 1 ... 1 2 ... 2

Global ESG and Sustainability UN Sustainable Development Goals (SDGs) and Environmental, Social and Governance (ESG) principles around the world. Pakistan UN SDGs, Catastrophic Floods are a Public Health Crisis Over 33 million people have been affected by the monsoon rains and the consequent flooding since mid-June 2022, causing unprecedented destruction in Pakistan, particularly in Sindh, Balochistan, and Southern Punjab. Read More Philippines and the Pace of Progress towards the UN Sustainable Development Goals (SDGs) The Philippines is one of the 193 UN Member States that have decided to support the UN’s Sustainable Development Goals (SDGs) that was approved on September 25, 2015. Read More Kenya ESG and the SDGs in Africa Environmental Social and Governance criteria (ESG) is gaining importance in Africa as a means for businesses to demonstrate their dedication to ethical business practices and to reduce the risks involved with doing business there. Read More Morocco's ESG journey towards building a sustainable future. Morocco has made great strides toward achieving some of the SDGs, but more work has to be done in order to completely implement all 17 objectives Read More

Clear net profitability goals and execution plan Real accountability Workflows improving every business area Reshaped sales and service engagements Delivered with no overwhelm Nicholas Jones Residential Achieves Best Performance in 9 Years Testimonials Tracy - Construction Company Owner "Paul has been helping me improve my estimating, scheduling, and tracking to create bigger margins and improve productivity. He clearly relates project delivery performance to business financials." Chris Gilmore, Hotel General Manager "Paul's conversation intelligence has opened my eyes to how we can improve our customer service and sales." Jon Knight, Interactive Whiteboards Sales Director "We can genuinely see a real return on our investment with a strategy covering sales pipeline, average order value and market penetration. Paul is a breath of fresh air. Paul has worked with us to put money in our bank account." Kevin Prince, Self Storage General Manager "Paul has helped Space Station Self Storage deliver substantial growth for over five years .. and helped us develop systems and processes to make our sales and marketing much more efficient and transparent." Martyn Russell, Estate Agent Owner "I can highly recommend Paul for his business coaching skills as it goes well beyond what was originally expected. Paul cares about our Business, they have improved staff engagement, raised our service levels, and improved enquiry levels." Sam Goss, Hotel General Manager "Paul's conversation intelligence is an extremely useful and beneficial tool." Andrew MacLachlan, Hotel General Manager "When I first saw Paul's telephone skills training with their conversation intelligence I thought it would be invaluable, I would stand by that view." Davinder Gharial, Estate Agent Business Owner "Paul contributed to us winning the ‘Best Estate Agent Guide – Exceptional’. The staff that engaged with the service really saw the benefits in improved call outcomes." Kerry Newstead, Estate Agent Partner "The coaching has helped us to recognise more opportunities on the calls, we are much more aware now of how a call can be managed more profitably." Mark Rogers, Hotel General Manager "Paul has helped us improve customer satisfaction levels more generally not just improve call outcomes and take more bookings." Mitch Mitchison, Estate Agent General Manager "I would highly recommend Paul to anyone running a business where personal interaction with customers is important and where they want to improve that engagement in a meaningful and effective way."

What is Business Performance Management? Business performance management can help companies of every size, from giant corporations to SMEs, better execute their strategy. Learn how. Executing business strategy remains a challenge for businesses, in fact, an estimated 67% of corporate strategies fail due to poor business execution. For many businesses, this comes down to the fact that strategy and operations simply don’t align. This disconnect means the strategy is often forgotten about, operations are not monitored to see how successfully they’re delivering the strategy targets and overall, business performance is poor. Business performance management can help companies of every size, from giant corporations to SMEs , better execute their strategy. BPM Definition: What is Business Performance Management? So you have a business strategy, with clear goals in it. But how are you executing that strategy? How are you reaching those goals and is there a better way to do so? Business performance management ( BPM ) is a process that allows businesses to monitor the methods used to reach strategy goals, so that they can continuously develop those methods to become more efficient and effective and ultimately increase business performance. There are many aspects of business performance to manage, from people to processes to financial performance . However, for all business performance management processes, they all involve three main activities: Goal selection Information monitoring and consolidation Managerial adjustments These three activities work together to improve efficiency and performance, but it begins with goal selection. You can’t improve performance if you don’t have a clear goal in mind. Setting your goals helps businesses determine the exact methods and processes that will help achieve those goals. Once the methods and processes are determined, data is used to monitor them. This information should be monitored both in real-time to allow for any adjustments necessary and consolidated for regular review. The consolidated metrics let businesses analyse the methods and processes to identify strengths and weaknesses, so they can figure out better methods and processes and continuously improve. After the data has been consolidated, teams led by management can figure out which measures to take that could improve efficiency. These changes are charted and analysed again to ensure success and in turn, inform the new goals set as the last goals are achieved. As you can see, these three activities create a process of continuous improvement for business performance, allowing companies to increase their efficiency, productivity and profitability to create more competitive and resilient companies. Different Categories of Business Performance Management As we mentioned above, there are many different aspects of performance businesses can manage. The simplest way to break this down is to categorise business performance management according to its objective. For example: Team performance management Department performance management Organisation performance management Individual performance management Business unit performance management Product performance management The Business Performance Management Cycle The three activities we mentioned above create a clear BPM framework for businesses to follow, known as a business performance management cycle. They’re as follows: Evaluate and plan Monitor performance metrics Review and analyse Improve and repeat 1. Evaluate Current Strategy and Goals and Plan Accordingly Your business performance management process needs to align with your business strategy and the goals within it. This all starts with evaluating your current goals to ensure they’re realistic and attainable. For a continuous process, setting SMART goals are a great way to achieve this: Specific Measurable Attainable Relevant Timebound Goals without specifics are impossible to track and measure. If your goal is growth, but no specific amount of growth, you’ll struggle to create a process in which you create sustainable growth long-term. Your goals should be specific, but also align with different departments to ensure business performance is being measured across the entire business and that all performance targets are relevant to the larger business strategy. Once you’ve got specific goals, you need to figure out how they’ll be measured. What performance metrics will you use to measure each method and process? Goals also need to be realistic and attainable. Setting goals far out of reach means you’ll not give enough thought to the processes and methods to achieve them. For example, if you want to increase year-on-year revenue by a substantial amount, you’ll likely need to invest heavily in marketing and sales to do so. Without a realistic foundation for these goals, you’ll struggle to figure out where resources can be best placed to actually reach these goals. You also need to set a date for when you will achieve said performance targets. This can be monthly, quarterly and annually. The best bet is a mix of all three to ensure performance is being continuously monitored and reviewed. 2. Utilise Business Intelligence to Continuously Monitor Performance With your performance goals set, your business performance management process is underway. The next step is to monitor business performance metrics continuously. This means you need to have dedicated leaders of performance management within each department. They should be regularly reviewing real-time metrics using business intelligence solutions. This regular review allows businesses to better react and adapt. Goals can be adjusted to changing market conditions and internal challenges can be addressed quickly, as opposed to after the fact. 3. Review and Analyse Performance Methods and Processes As well as continuous monitoring, a business performance management process needs a set interval where the methods and processes are reviewed and analysed. This allows leaders to spot opportunities for improvement. Utilise a larger collection of performance metrics to gain insight into where improvements can be made. Any planned changes should be recorded so businesses can identify the impact specific changes made. 4. Improve and Repeat for a Continuous Business Performance Management Process Changes shouldn’t be made ad hoc with no planning. What are the specific changes and what do you expect to see from them? How will you make the changes to the specific process? Who will lead these changes? This final step actually takes you back to the first step, evaluating and planning. It is this step that makes the business performance management process one that is continuous and creates long-term improvement. Why is Business Performance Management Important? Businesses are facing an increasingly difficult landscape which has real impacts on viability, resilience and market share. Markets are more competitive. There is always a competitor doing what you do for the same price or even less. Battling it out over who can offer a product or service the cheapest only results in slimmer and slimmer margins for the industry. It’s bad news for everyone involved. Businesses instead need to compete on the customer experience. Research shows that the customer experience has overtaken price and product as the key brand differentiator for consumers and consumers are willing to pay more for a great customer experience. This means businesses need to improve their efficiency and productivity across all departments to compete. As if this wasn’t enough of a challenge, globalisation has brought its own challenges. Not only are there more competitors, but operations have become more complex to manage due to outsourcing, remote working and more. Globalisation also means businesses are contending with a variety of economic challenges. We’ve all learned just how interconnected the global population is over the course of the last couple of years. But for businesses, this means markets are increasingly volatile and there is increased uncertainty. Consumers also demand more from businesses, not only in terms of the customer experience, but in terms of social and environmental responsibility . Brands that cannot keep up with the changing demands of consumers struggle to remain competitive and create sustainable long-term growth. These challenges are creating yet another challenge in that they’re stifling innovation. Many businesses are so swept up in the current vast and complex issues that they struggle to manage their future. There is a constant need for innovation to remain competitive in today’s market. So what businesses need then is to rethink business and implement more agile and innovative management processes to navigate this challenging landscape. Business performance management is an effective response to these obstacles. It ensures companies are actively working towards current and future goals by continuously improving the unique methods and processes involved. From Strategy to Effective Business Execution: The Benefits of BPM Business performance management brings many benefits to businesses when it’s implemented successfully. By far the largest benefit is creating a sustainable framework for business execution. Instead of a static strategy document unaligned with the operations of the business, there is an active process in place to ensure the execution of strategy to reach larger business goals. Increasing efficiency in processes can also help lower costs for businesses. This in turn, can help businesses increase their margins and profitability. A huge amount of business performance management is linked to the performance of people. After all, it is people behind the methods used to achieve business goals. Improving the performance of teams and individuals helps create a more productive workplace with a stronger company culture and ultimately, a more resilient and profitable business. The Role of Business Intelligence in Business Performance Management The role of business intelligence in business performance management cannot be understated. There are a huge wealth of metrics to track to ensure performance is successfully monitored and tracked. Leveraging business intelligence solutions can help leaders and management better manage, consolidate and analyse data. It takes away a huge amount of the administrative data tasks involved in collating performance metrics. This time can instead be better spent on analysing the data available to gain better insights and come up with more innovative and creative ideas for improvement. Additionally, business intelligence technologies have come a long way over the last decade. Previously, performance tracking was based on existing data to predict future performance. Now, solutions can provide real-time data. The best solutions are even able to contextualise this data against external sources so it can be better understood. These technologies mean businesses have better adaptability to whatever unexpected changes or challenges they face. They’re able to use the data to react in real-time, as opposed to after the fact. Overall, utilising business intelligence in performance management helps improve decision making for companies through data-led insights. Characteristics of a Successful Business Performance Management Process Organisations that get business performance management right are competitive machines. Microsoft, Deloitte and Adobe have all adopted continuous business performance management processes and have enjoyed a wealth of success in part because of this. While the exact process will come down to the unique needs of your business, many of these BPM processes share some key characteristics that contribute to their success besides a robust business intelligence solution. The importance effective goal setting cannot be overstated. Clear goals that are meaningful and understood are vital to a successful business performance management process. It allows everyone across the business to align and understand how their tasks and responsibilities contribute to wider business goals. This alignment is important, because a great business performance management process is collaborative. While leadership may turn the initial cogs to implement a BPM process, the best performance goals are strategised between teams, departments and leadership. To achieve this collaboration, there needs to be transparency about the business strategy and performance. Conversations held behind closed doors between leadership will not help staff understand their responsibilities, nor will it empower them to hit performance targets. Common Issues in Business Performance Management Just as successful business performance management processes share key characteristics, unsuccessful business performance management processes also share some common traits. First, bad performance metrics. The performance metrics you choose to monitor need to promote the desired performance. This is why so many businesses opt to use a balanced scorecard to ensure performance goals align and create the desired results. Similarly, poor targets are a surefire way to create chaos in a business performance management process. Set them too high and you’ll demotivate the entire business when they can’t reach them. Set them too low and there is little motivation for improvement as the status quo suffices. A lack of transparency around performance targets can create similar issues. Departments, teams and individuals need to know targets have meaning. They’re not a random number pulled from a hat. Performance targets should be based on data and this should be transparently communicated with teams. Even with transparency, if teams feel there is a lack of relevance to performance targets. This often happens when performance metrics are dictated from the top-down. Increased collaboration around setting performance targets and metrics can help avoid this issue, as well as encourage departments and individuals to take ownership over their performance. Business Performance Management Consulting Implementing a business performance management process has great benefits for businesses, increasing their competitiveness and resilience. As it is a process of continuous improvement, BPM can help create sustainable long-term growth for businesses of many sizes. However, if you’ve never implemented a business performance management process previously, it’s a daunting task. This is why many companies opt to use business performance management consultants to help implement the necessary changes successfully and guide them through the resulting business transformation. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. 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How to overcome limiting beliefs holding back your success Limiting beliefs hold you back from setting your goals and achieving your full potential. "Your beliefs become your thoughts; your thoughts become your words; your words become your actions; your actions become your habits; your habits become your values; your values become your destiny." Gandhi Like the brakes on a car, limiting beliefs hold you back from setting your goals and achieving your full potential. We will take a closer look at what limiting beliefs are and how you can identify and remove them. What are beliefs? Beliefs shape us like the clay in the hands of a potter. They determine how we think, how we feel, what we say and the actions we undertake. Our beliefs are based on past experiences which are now shaping our future. If we become what we think about most, then we become a reflection of our beliefs, both good and bad. Our thoughts come from our beliefs which then become our reality. When you have a belief about something, you’re more likely to see evidence around you that reinforces that belief and miss or discount anything that contradicts it. 5 examples of limiting beliefs and thoughts. Beliefs are assumptions and convictions we hold to be true about ourselves and the world around us. Beliefs become self-fulling prophecies that can hold you back or encourage you. You will have beliefs about success, education, money and morality and many other things, too. When combined with your core values, deeply held assumptions about ourselves and the world, you have a toolbox of attitudes and behaviours that you’ll be using in any given situation. People naturally recognise that someone who is determined and tenacious, who never gives up, is more likely to succeed than someone who procrastinates. Someone who believes they will succeed is generally more likely to than someone who doesn’t, irrespective of their talents. Health professionals recognise that the attitude, that is the way people act based on their beliefs, of a patient is a major factor in their recovery. In medical research, placebos have been seen to be as effective as many drugs. So, if you can think your way to health, then you can also think your way into being less healthy and less successful or more successful, too. The beliefs that others have of us can also play an important part in our beliefs about ourselves. What is a limiting belief? Have you tried to do something and failed, then not tried again? Why did you not try again? Why did you fail, and what defined failure? Did you take the failure as, ultimately, a positive experience or a negative one? While all failure is initially negative, it’s also a great mentor saying: “Don’t do it that way again”. And sometimes, experiencing why something doesn’t work is the only way to know why and how to do it better. Limiting beliefs are a state of mind that undermine your confidence and restrict you from pursuing a task you’d otherwise like to take on. They are assumptions about yourself, the world or other people that are holding you back from starting or completing a task. Limiting beliefs start in childhood, they are rooted in experiences and a way of thinking. Limiting beliefs can affect everything in your life; at work, at home and in many other areas. They place boundaries on what we think we can achieve. How is a belief formed? Beliefs are formed from experiences and from what we inherit from our parents much like we inherit many visible attributes from our parents, but unlike having blue or brown eyes, they are not fixed. As the report from the Baby Lab suggests, we’re born with a set of morals inherited from our parents, and some they teach us, which then evolve into our belief system over time and with experience. These beliefs can change over time as our experience of life evolves or if we deliberately challenge our own beliefs What is a core belief? A core belief is a deeply held assumption about ourselves, others, and the world around us. It forms the very essence of who we think we are and our opinions. Core beliefs can become self-fulfilling. If we think somebody or a certain type of person is a bad or good person, we are likely to treat them in a way that reflects that. This may encourage that behaviour in them and reinforce our belief in what they are like. The role of beliefs in our lives "Watch your thoughts, they become your words; watch your words, they become your actions; watch your actions, they become your habits; watch your habits, they become your character; watch your character, it becomes your destiny.” Lao Tzu We prefer people who we identify with most, be that their values, their beliefs, their attitude towards life or their behaviours. So, beliefs form a large part of our relationships and how we communicate with each other. This relates to all aspects of our life: work, professional and home. Knowing and being able to identify our own core beliefs and values will go a long toward helping us to succeed at whatever we are trying to accomplish. We may value honesty and believe that being honest is essential to success in life, or that other people are inherently dishonest and so make everybody sign a contract rather than rely on a handshake and a gentleman’s agreement. Identifying a limiting belief and removing it can help to increase motivation and engagement with a task. Limiting beliefs can be a healthy thing, too. Nobody should overcome the self-limiting belief that they can fly. Some self-limiting beliefs are good, sensible and help keep us safe and spend our time wisely. You may wish to become a best-selling singer, but if you’re tone-deaf, can't sing or keep time, that’s not going to be possible. Perhaps you settle for being an okay singer singing locally or pursue another interest. The challenge is in knowing what is actually physically impossible vs what you only believe to be impossible. With limiting beliefs comes victim mentality and imposter syndrome. Our beliefs can affect our health, from the healthy to the not-so-healthy food we eat, to the positive and negative thoughts we have. What is the relationship between attitudes, values and behaviours? What we think about controls how feel and the emotions we experience. What we feel controls how we act and how we behave. Having a positive attitude comes from having positive beliefs and positive values. If we believe on the whole that people are good and that one of our core values is that telling the truth is important, then we will have a positive attitude towards others, we are more likely to be truthful ourselves and trusted by others in return. What is an attitude? Attitudes are judgements on anything, whether somebody likes or dislikes something, finds it good or bad. Attitudes come from our values and beliefs. Carl Jung, in his essay on psychological types, defines attitude as “the readiness of the psyche to act or react in a certain way”. As such, attitudes will drive how we think, feel and act about things in our lives and about ourselves. Also known as the ABC model : affective, behavioural and cognitive. The affective component relates to emotions and feelings (the emotional part), behavioural relates to how we act or behave given the attitudes we have and cognitive relates to what we believe to be true (the logical part). Attitudes are based on our core beliefs and the behaviours that they motivate. For example, having a ‘positive attitude’ helps an individual to be motivated to start and engage with a task that needs to be completed. What are values? Values are core ideas and standards you believe to be true for you and how you should act on a day-to-day to basis. They help you prioritise and make ethical decisions. When you act and work in alignment with your values you generally feel good about yourself and life. Recognising they exist and what your core values are will help you make better decisions in life. The New Zealand Government places a lot of importance on happiness and wellbeing. It explains that on personal beliefs, values, attitudes and behaviour, values are: “stable long-lasting beliefs about what is important to a person”. Can values change over time? Values can change over time going from childhood to old age. The things that are important to us change. Experience and varying needs will change the values you find important. For example, security may be more important later in life and relationships earlier. As we said earlier, values are the ideas and concepts we were born with and formed as part of our childhood, those values become attitudes based on underlying beliefs. What is a behaviour? Behaviours are the final action based on our core beliefs and values. So we have values working with beliefs creating our belief system. Our thoughts, emotions and feelings are expressed as our attitudes with behaviours being the final visible action. These behaviours also determine how well we will be able to learn, acquire new knowledge and develop new skills. For example, with poor beliefs about school and little value in education, unhelpful attitudes are formed resulting in visibly poor behaviours towards learning. What are the causes of limiting beliefs? Limiting beliefs are usually rooted in experiences that have come to define how you see yourself, others and your capabilities. Some people are more predisposed to them than others. Those with a negative disposition may be more likely to have them than those with a positive disposition, but anybody can have them. Comments made to you, bad experiences, or just a lack of confidence can all hold you back. Understanding the source of your limiting thoughts or beliefs can help you to overcome them. ‍ Are your beliefs holding you back? Generally, positive thinking people with few limiting beliefs are healthier, live longer and are more successful, as reported in Can you think yourself young? Guardian article. Your limiting beliefs can stop you from trying something new. Moreover, they cause stress and unhealthy habits that can lead to depression and lower personal and professional performance. Limiting beliefs can stop us from leaving our comfort zone where life is relatively easy and risk-free but lacks growth and the opportunities to learn new things and take on new challenges. This might limit the extent to which you can achieve your personal and professional goals. Limiting beliefs can be subconscious or conscious thoughts about how you see the world, yourself and others. With limiting beliefs comes victim mentality and imposter syndrome. Not feeling that you are good enough can be a self-limiting belief that results in the imposter syndrome. Even though you’ve achieved a lot and you receive a lot of praise, you just don’t believe it’s real, and that you’re about to be ‘found out’. Believing that all our issues and problems are the result of other people’s actions, not our own, is self-limiting behaviour resulting in the victim mentality. What are examples of limiting beliefs? Typical examples of limiting beliefs or thoughts include: I’m not good enough; I can’t ...; I’m too old, too young; I don’t have enough ...; I’ll never be …; I’m not … enough; I don’t have the … They fall into these categories: Either you don’t feel you’re capable of starting the task due to a lack of skills, experience, money or time, for example. You can’t complete the task because it will never be good enough. That should you achieve your goal, you fear you won’t be able to sustain it, that you’ll be rejected by family and friends You’ve achieved your goal, but now you feel like an imposter, that you don’t deserve your success. Revered guitarist Eric Clapton had these thoughts. How to identify your limiting beliefs Is there something you’d like to do, to be or achieve but you are not currently working on it? That’s a good place to start. Become more aware of how you express yourself. Are many of your statements about yourself very negative? Speak with friends, family, and colleagues about something you might like to pursue. The only obstacle to doing this is that they may have been influenced by your own negative view of yourself or have their own issues stopping them helping you. So keep an open mind. We are all familiar with that little voice, the inner critic, inside our heads feeding us either negative or positive thoughts and emotions depending on what we’re doing, who we’re doing it with and what we’re seeing as a result. Become more aware of your inner voice and manage it in a constructive, positive way. Your business beliefs will shape your business like they do your life A positive attitude in business is essential for creating high-performance teams as there are just so many challenges to get through. Whatever plan you put together will likely fall at the first fence, and so you’ll need to constantly adapt to new challenges and lessons learnt. Positive beliefs then will help you become more resilient, develop essential business skills and create a business culture that will foster innovation, agility and motivation. Ray Dalio , founder of the investment firm Bridgewater Associates and one of the wealthiest people on the planet, identified his beliefs in his book Principles . 6 ways to overcome limiting beliefs So, to address limiting beliefs we need to identify their root causes and associated behaviours. You’ll have to start thinking in a new and better way. Perhaps the first thing to do is to act. There is no better motivation to getting started than actually getting started. The act of starting will spur you on, rather than waiting for the right time. Is this negative belief based on any facts, is there anything to suggest it is a limiting fact, rather than a limiting belief? Is the limiting belief only that it will make you slower or less good? If so, get started and find out, you’ll be surprised how much better you’ll get with practice. Ask yourself what would be the worst that can happen if you either start or complete the task. Persistence and tenacity are the hallmarks of success. Did you start something in the past, fail and then believe you couldn’t do it and didn’t try again? Well, go try again. If you improve even a little bit, you’re on your way. What we tell ourselves is important. Tell yourself you can, and there’s a good chance you’ll start to see you can. Look at those around you. Are they positive people? Are they successful people? How do you feel when you’re around them? Do you feel uplifted, inspired and motivated? Does a conversation with them make you feel good about yourself? Unfortunately, there are many people in life, even family and friends, who will resent your ambition and success if they haven’t experienced that for themselves. Movies and songs are full of that sentiment by successful artists. Adele and Lil Peep come to mind, among others. Perhaps the first step is to become more aware of our own thought patterns, how we react emotionally to certain situations and people. Once you become more aware of these thoughts you can challenge the perceptions that lead to those thoughts. Negative thoughts release chemicals in the brain that create feelings of stress and unhappiness. Positive thoughts elevate your mood and make feel more engaged, your actions, countenance and behaviours become more positive too. It comes down to the perspective you have as it relates to events and people in your life. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

What is Organisational Development? Organisational development (OD) refers to a planned and systematic approach to improving the effectiveness and efficiency of an organisation. Organisational development (OD) involves applying behavioural science principles and practices to analyse the current state of the organisation, identify areas for improvement, and implement strategies to enhance its overall performance. OD encompasses a wide range of activities aimed at improving various aspects of an organisation, including its structure, processes, systems, culture, and people. It focuses on promoting positive organisational change, fostering employee engagement, and aligning the organisation's objectives with its strategies and resources. Organisational development aims to guide an organisation through the process of change and help build capacity for ongoing improvement and adaptability in the face of evolving challenges. Organisation development (OD) and organisational design are closely related and complementary concepts that work together to improve the effectiveness and efficiency of an organisation. While OD focuses on the human and behavioural aspects of organisational change, organisational design focuses on the structural and strategic elements. Both disciplines collaborate to create an organisation that is adaptable, efficient, and aligned with its goals and values. Organisation development involves assessing and improving various aspects of an organisation, such as its culture, processes, systems, and people. It aims to enhance the organisation's capacity to adapt to change, foster employee engagement, and align its objectives with its strategies and resources. OD interventions may include leadership development, team-building activities, change management, and culture transformation. On the other hand, organisational design is concerned with the formal structure, roles, and relationships within the organisation. It involves defining the reporting lines, job roles, responsibilities, and overall organisational structure. Organisation design aims to create a structure that facilitates efficient operations, effective decision-making, and clear communication within the organisation. How can Organisational Development support an effective Business Operating System? Organisational development (OD) significantly bolsters the effectiveness of a business operating system by nurturing continuous improvement, refining organisational culture, and aligning systems with strategic objectives. Primarily, OD initiatives, including employee training, skill enhancement, and leadership programmes, ensure that staff possess the requisite competencies to navigate the business operating system adeptly. By investing in human capital, organisations optimise performance and adapt to evolving market dynamics. Furthermore, OD interventions cultivate collaboration, communication, and teamwork, critical for the seamless operation of a business operating system. By fostering a culture of transparency and accountability, OD initiatives facilitate the implementation of standard operating procedures and best practices across the organisation. Moreover, OD aids in identifying areas for improvement within the business operating system through techniques such as process mapping, feedback mechanisms, and performance evaluations. By diagnosing and rectifying inefficiencies, organisations can enhance productivity, reduce costs, and spur innovation, thereby maintaining a competitive edge in the marketplace. Overall, organisational development complements and fortifies the effectiveness of a business operating system by nurturing talent, promoting collaboration, and driving continuous improvement initiatives. Organisation Development and Organisational Design Work Together in the Following Ways Alignment: Organisation development initiatives can help identify the need for organisational structure and design changes. For example, if an OD intervention reveals that the existing structure hinders collaboration and communication, organisational design can be used to reconfigure the structure to better support these aspects. Support for Change: Organisation design plays a crucial role in supporting the implementation of organisational development interventions. When changes are introduced as part of an OD initiative, the organisational design needs to be adjusted accordingly to ensure the changes are supported by the structure, roles, and processes within the organisation. Integration of People and Structure: Organisation development focuses on improving employee engagement, teamwork, and communication. Organisation design helps facilitate these goals by creating a structure that promotes collaboration, establishes clear reporting lines, and defines roles and responsibilities. The design of the organisation should align with the desired cultural and behavioural changes identified through OD efforts. Feedback Loop: Organisation development and organisational design are iterative processes that inform and influence each other. The data and insights gathered through OD initiatives can provide valuable input for designing or modifying the organisation's structure, roles, and processes. Likewise, the outcomes of organisational design efforts can inform future OD interventions by identifying areas for improvement. Key principles and practices of organisational development include: Diagnosis: Assessing the organisation's current state through data collection methods such as surveys, interviews, and observations to identify strengths, weaknesses, and areas for improvement. Intervention: Implementing strategies and interventions based on the diagnosis to address identified issues. This may involve changes to organisational structure, processes, communication systems, leadership development, training programs, and team-building activities. Change Management: Managing the process of change within the organisation, including overcoming resistance, fostering buy-in from stakeholders, and ensuring successful implementation of new initiatives. Team Development: Enhancing the effectiveness of teams within the organisation through activities such as team building, conflict resolution, and improving communication and collaboration among team members. Leadership Development: Developing the skills, capabilities, and behaviors of leaders within the organisation to drive change, inspire employees, and create a positive work environment. Culture Transformation: Shaping and aligning the organisation's culture with its strategic goals, fostering values such as collaboration, innovation, and adaptability. Continuous Learning: Encouraging a culture of learning and growth within the organisation, promoting ongoing development and improvement of individuals and teams. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Agile Scrum in Business: A Transformational Approach to Achieving Success Agile Scrum in business is a collaborative, customer-focused framework that promotes flexibility and adaptability. It divides work into iterative sprints, emphasising transparency, continuous improvement, and delivering value. This approach accelerates time-to-market, enhances product quality, and boosts customer satisfaction, making it a vital strategy for modern businesses. In today's fast-paced and competitive business environment, adaptability and responsiveness are paramount. Companies are constantly seeking ways to increase efficiency, reduce time-to-market, and deliver high-quality products and services. This is where Agile Scrum comes into play. Agile Scrum is not just a methodology; it's a mindset that has revolutionized the way businesses operate, enabling them to thrive in an ever-changing landscape. In this article, we will delve into the world of Agile Scrum in business, exploring its principles, benefits, and how it is transforming organizations worldwide. Understanding Agile Scrum Agile Scrum is an iterative and incremental approach to software development and project management. Its roots can be traced back to the early 2000s when a group of software developers introduced the Agile Manifesto. This manifesto emphasized customer collaboration, responding to change, and delivering working software as the primary measures of progress. Scrum, one of the most popular frameworks under the Agile umbrella, was developed as a way to implement the Agile principles effectively. The term "Scrum" itself comes from rugby, where it refers to a way of restarting the game. In the business context, Scrum provides a framework for teams to work collaboratively, deliver value to customers, and adapt to changing requirements swiftly. Key Principles of Agile Scrum Iterative and Incremental: Agile Scrum divides the project into small, manageable iterations called sprints, typically lasting two to four weeks. During each sprint, the team works on a set of prioritized tasks and delivers a potentially shippable product increment at the end. Customer-Centric: Customer feedback is central to Agile Scrum. The product owner, a key role in Scrum, represents the customer's interests, defines requirements, and prioritizes the backlog of work to ensure that the most valuable features are developed first. Cross-Functional Teams: Scrum teams are self-organizing and cross-functional, meaning they have all the skills required to complete the work within the sprint. This structure promotes collaboration and reduces dependencies on external teams. Transparency: Agile Scrum places a strong emphasis on transparency. The team's progress, impediments, and the product's status are visible to everyone involved. Daily stand-up meetings, sprint reviews, and sprint retrospectives are used to foster transparency and continuous improvement. Adaptability: Scrum recognizes that change is inevitable. Teams are encouraged to embrace change and adjust their plans based on new information. This adaptability is crucial in today's dynamic business landscape. Benefits of Agile Scrum in Business Faster Time-to-Market: Agile Scrum allows businesses to release smaller increments of their product quickly. This enables companies to respond to market demands and changes in customer preferences more rapidly, gaining a competitive edge. Improved Product Quality: Continuous testing and integration in Agile Scrum ensure that defects are identified and addressed early in the development process. This results in a higher-quality product with fewer post-release issues. Enhanced Customer Satisfaction: By involving customers throughout the development process and delivering value in every sprint, Agile Scrum ensures that the end product aligns closely with customer expectations, leading to higher satisfaction levels. Better Risk Management: Agile Scrum's iterative approach allows teams to identify and mitigate risks early. This reduces the chances of costly project failures and unexpected delays. Increased Employee Engagement: Scrum teams are self-organizing and have a high degree of autonomy. This fosters a sense of ownership and engagement among team members, leading to higher productivity and job satisfaction. Flexibility and Adaptability: In a rapidly changing business landscape, the ability to adapt to new requirements and priorities is critical. Agile Scrum's flexibility allows businesses to pivot quickly and stay ahead of the competition. Implementing Agile Scrum in Business Implementing Agile Scrum in a business requires more than just adopting the framework; it involves a cultural shift and a commitment to change. Here are the key steps to successfully implement Agile Scrum: Training and Education: Start by providing training and education to your teams and leadership. Everyone must understand the principles and practices of Agile Scrum. Selecting a Scrum Master and Product Owner: Designate a Scrum Master to facilitate the Scrum process and a Product Owner to represent the customer's interests and prioritize the backlog. Forming Cross-Functional Teams: Organize teams that have all the skills needed to complete the work within a sprint. These teams should be empowered to make decisions and collaborate closely. Creating a Backlog: The Product Owner works with stakeholders to create a prioritized backlog of work. This backlog becomes the source of tasks for each sprint. Sprint Planning: At the beginning of each sprint, the team conducts sprint planning, where they select a set of tasks from the backlog to work on during the sprint. Daily Stand-up Meetings: Hold daily stand-up meetings to keep the team aligned, discuss progress, and identify any obstacles that need to be removed. Sprint Review and Retrospective: At the end of each sprint, conduct a sprint review to demonstrate the work done and gather feedback. Follow it with a sprint retrospective to reflect on what went well and what could be improved. Continuous Improvement: Encourage a culture of continuous improvement. Use feedback from retrospectives to make adjustments to the process and improve team performance. Challenges and Pitfalls While Agile Scrum offers numerous benefits, its implementation is not without challenges. Some common pitfalls include: Resistance to Change: Employees and leaders may resist the cultural shift that Agile Scrum requires. It's essential to address resistance through education and clear communication. Lack of Commitment: Successful Agile Scrum implementation requires commitment from all levels of the organization. If leadership is not fully on board, it can hinder progress. Overemphasis on Tools: While tools can enhance Agile Scrum practices, they should not be a substitute for collaboration and communication among team members. Inadequate Training: Without proper training, teams may not fully understand Agile Scrum principles and practices, leading to ineffective implementation. Scaling Challenges: Scaling Agile Scrum to large organizations can be complex. Companies must consider frameworks like SAFe (Scaled Agile Framework) or LeSS (Large Scale Scrum) to address these challenges. Agile Scrum has become a cornerstone of modern business practices, enabling organizations to respond to change, deliver value to customers, and thrive in a competitive landscape. Its principles of transparency, adaptability, and customer-centricity are transforming how businesses approach product development and project management. While Agile Scrum implementation may come with challenges, the benefits of faster time-to-market, improved product quality, and enhanced customer satisfaction make it a worthwhile endeavor. In a world where change is constant, Agile Scrum is not just a methodology; it's a strategic advantage that can drive business success. Embracing the Agile Scrum mindset is no longer an option—it's a necessity for businesses looking to stay relevant and excel in the 21st century. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Why we need Stakeholder Capitalism 53 heads of state, the president of the world bank and 100 billionaires have agreed shareholder capitalism needs to be replaced by stakeholder capitalism. Stakeholder capitalism champions a business model prioritising not only shareholders but also employees, customers, suppliers, communities, and the environment. It acknowledges their interconnectedness and the necessity of sustainable practices for long-term success. This approach fosters trust, innovation, and resilience, aligning profit with broader societal well-being. Increasing pollution of the air, seas and rivers, increasing inequality, the exponential extraction of the natural world and increasing mental health issues indicates that western capitalism is broken and it's time to make it better. ‍ What is capitalism? One definition of capitalism is: “an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.” So, the key is that it’s controlled by private individuals, as opposed to communism, often considered to be the alternative to capitalism, where everything is controlled by the state. But even communism has morphed into ‘state-controlled capitalism’. Here, the state controls large parts of the economic system, not just private owners. Capitalism’s great strength is its capacity to engage people in innovation and to enable new and creative ways of creating new value. Different flavours of capitalism have spread across the world since the end of World War Two in 1945. Nearly every country now runs some form of capitalism, be that western capitalism, state-controlled capitalism, Nordic capitalism and the capitalism of Germany with varying degrees of public/private partnership and state control. It doesn’t matter which flavour of capitalism we’re talking about, all capitalism is based on consumption ; the making of products and services that create value which are then consumed and used by customers. The issue is that the impact on the environment and people of the production of those products and service hasn’t been factored into their price and has largely been ignored by almost all businesses until now, For nearly 250 years, since ‘father of capitalism’ Adam Smith published the Wealth of Nations , we’ve been underpaying for the goods and services we’ve been buying. We’ve been using up the resources of the planet and many people’s wellbeing for free, paying only for time and materials, not the repair, regeneration and restoration needed to make good what was there in the first place. Markets create private goods not public goods. The market assigns a zero price to depleting natural resources. To rethink capitalism is to rethink not only the public/private partnership but also how businesses are run and the role the customer has in addressing the ills of capitalism. This is now hurting us twice: once in that those natural resources will soon be running out and secondly through the negative impact it’s having on the planet and people by causing global warming and increasing mental health issues. Discussions at recent global talking shops indicate that attitudes are changing, albeit at a glacial pace. Here’s what happened at COP26 and the World Economic Forum event in DAVOS: COP26 In November 2021, the UN Climate Change Conference (COP26) in Glasgow brought together 120 world leaders for two weeks to discuss climate change. Debates covered the science, the required solutions and the actions needed to address climate change. Although progress was made and actions were agreed, cuts in global greenhouse gas emissions are still far from where they need to be to preserve a livable climate. Net Zero is not enough. We need to be regenerative, not sustainable Being sustainable, as defined by COP26, means not exceeding 1.5°C of climate warming above pre-industrial levels. Climate warming is already 1.1°C above pre-industrial levels and, as we know, that’s already too warm. So, setting a goal of 1.5°C is simply too hot and too late. The only way to address this is to be regenerative. Being regenerative means creating extra value for all stakeholders, especially the planet, and with a goal of NET10, regenerating the planet at a rate of 10X. For example, if two trees are consumed in the production of products and services, then 20 new trees must be planted. Another reason to be regenerative is that removing two trees from the planet also removes the associated biodiversity that accompanied those trees, be that other trees, plants and flowers or insects and animals and on the soil too. So, removing two trees has a far bigger impact than just the trees themselves. Additionally, in a world with a still rapidly growing population and increasing wealth the future impact of growth will be multiplied and happen more quickly, and so the damage will be far greater to the planet than it is today, so some future capacity needs to be built back in the natural environment. Davos 2020 In January 2020, 3,000 delegates from more than 100 countries, 53 heads of state, the president of the world bank and 100 billionaires met as they do every year in the Swiss Alps at Davos. They agreed that, within the next 50 years, shareholder capitalism needs to have been replaced by stakeholder capitalism. So, rather than a singular focus on profit maximisation, businesses must also consider the planet, people, staff, customers, suppliers; that’s everybody and everything affected by business, to address the key issues facing humanity and the planet this decade. In the words of Klaus Schwab, Founder and Executive Chairman of the World Economic Forum: “They have to actively contribute to a more cohesive and sustainable world.” The problem with GDP as a measure of capitalism One of the challenges in measuring the success of capitalism is how we measure it. The usual way is by looking at annual Gross Domestic Product (GDP) is the total value of all goods and services produced by a county in a year and is used to measure its economic health. It is expected that GDP increases every year, and when it doesn’t, when it goes into a sustained decline, it becomes a recession resulting in job losses and a reduction in investment in business growth. When GDP is increasing, more jobs are likely to be created and wages will rise. GDP is used by governments to guide policymakers, define taxation, expenditure on public services and to set interest rates. Companies use it to guide investing in their businesses. But alone it is insufficient to use as a measure of how well capitalism is performing. It doesn’t show increasing levels of inequality, nor the impact on the environment or welfare. As inequality increases, resentment increases, trust decreases and societies, on the whole, become less happy. In our personal lives, we all understand that a focus purely on money isn’t healthy. There’s more to life than money. Some countries recognise this more than others. Some countries are starting to use the Happiness Index as an indicator of the well-being of their citizens. Bhutan, a south-central Asian country on the eastern ridges of the Himalayas, is the only country in the world that has a ‘GNH’, or ‘Gross National Happiness’ measure. This is used to ensure that material and spiritual improvements grow together. Unsurprisingly, Bhutan has been ranked as one the happiest countries in Asia. In 2019, New Zealand Prime Minister Jacinda Ardern adopted the Happiness Index metric, creating new budgets that focus on the prosperity of local communities and paving the way for a national wellbeing budget. The UK, too, is adopting the happiness index to measure societal and personal wellbeing The variables used in the Global Happiness Index include: GDP per capita Healthy life expectancy Social support Freedom of choice Generosity Perceptions of corruption The benefits of capitalism Among the main benefits of capitalism are: New technologies and possibilities Capitalism has enabled new technologies, ideas and concepts to flourish for the benefit of humankind, to significantly improve the well-being of billions. It has enabled us to reach the lowest parts of the world, the Mariana Trench in the Pacific Ocean, the top of the world on Mount Everest, journey to Moon and back, contemplate going to Mars (and back) and create life-saving and life-enhancing medical procedures. Increased life expectancy So, the benefits of capitalism far outweigh the downsides many times over. As reported in The Guardian: "Lifespans have increased with remarkable consistency since 1800," says Professor Tom Kirkwood, Director of the Institute for Ageing and Health at Newcastle University. "There was no change in longevity between Roman times and 1800. But after that, we see considerable alteration. Every century the lifespan of British people increased by 20 years. Nor is this rise an exclusively British phenomenon. It is observed in most countries today. Only those with particular health problems, like South Africa's HIV infections, have failed to see rises." During the 1990s, 500 million people were lifted out of poverty, mostly across China, India and parts of Africa. Reduced poverty Since Adam Smith 250 years ago described a better way of organising the production of goods and services in what is now called capitalism, massive benefits have been realised across the world with nearly everybody taken out of poverty and the opportunity for many millions of people to lead much better lives, to achieve their dreams and significantly lift the living standards for themselves and their families. Capitalism is broken Today, western capitalism is only running by the rules, norms, and values we have defined for it, rules that evolve. For example, there is no more child labour, working hours are considerably shorter and safer than 100 years ago, and you can no longer be put in prison if you don’t show up to work. Capitalism has also been adjusted over the decades by anti-capitalistic movements, such as socialism. In this respect, it has proved to be very flexible and isn’t a single idea, but an amalgamation of many ideas. For this reason, it will endure, unlike previous political and economic structures, such as the Roman, Ottoman and Greek empires, and many more. Like the rules of a game, then, we need only decide how best to update those rules so there are more winners, fewer losers and fewer people out on the margins, both rich and poor. Autocratic monarchies and ecclesiastical hierarchies dominated western society for hundreds of years before Smith’s Wealth of Nations. As people started to rebel against these systems, capitalism offered a way that allowed people to express themselves and have control over their own destiny, and property, and to create opportunities for themselves. Democracy went well with this as it, too, allowed for individual freedoms. People gave up being looked after by landowners, the nobility, Kings and Queens, in favour of making their own way in life. Smith saw this trend in creating The Wealth of Nations. But economic growth since 1980, when markets were deregulated and supply-side economics took hold, hasn’t been fed into improved public infrastructure. The benefits have gone disproportionally to the private sector. In other words, capitalism can both transform and demonise us. Karl Marx, co-author of The Communist Manifesto in 1848 , said capitalism “ .has greatly increased the urban population as compared with the rural, and has thus rescued a considerable part of the population from the idiocy of rural life.” . He viewed rural life as inferior to urban life. In this way, he was pro-capitalism, at least at the outset, before predicting it would destroy itself, which is the very thing we are trying to avoid now. The issues created by the current version of western capitalism Set against the benefits that capitalism has brought are numerous problems, including: Poor social mobility A lack of social mobility of the poor half of the world needs to be addressed. Being born in the wrong place at the wrong time doesn’t help your prospects. When the richest 1% make all the rules for the other 99% to follow, it doesn’t help. Rampant inequality Opportunity inequality is a concern. The minimum wage for a UK worker is about £13,000 per year and the average salary of the FTSE 100 company director is £5,000,000. The rising tide has lifted all boats, but now the bigger boats are sailing away leaving all the smaller boats stranded or sinking. The world has become more polarised in recent decades. People are blaming the very system that has given them all the benefits they now enjoy. Inequality leads it mistrust and a sense of injustice and resentment. Deaths from suicide, drug overdose and alcoholism have increased significantly, claiming 100,000 lives every year. That’s not to say these are all related to capitalism, but it’s a concerning statistic if many others are becoming better off at the same time. The economic crash of 2008 made matters worse as it was caused by the people with the money and it was the ordinary people who played no part in the slump who paid the price with broken livelihoods and the taxes to bail out the banks who were partially responsible for the catastrophe. Declining prospects It used to be the case that we could safely assume we would be better off than our parents, but that isn’t necessarily so anymore. Pollution Some might say that capitalism is poisoning the planet for profit. Ten key impacts we’re having on the planet today: 1) Pollution 2) Soil degradation 3) Global warming 4) Natural resource depletion 5) Generating unsustainable waste 6) Deforestation 7) Polar ice caps melting 8) Loss of biodiversity 9) Ocean acidification 10) Water pollution Increased mental health issues Those that are making the mega-money often work 80-100 hours per week and don’t see their families or kids without being stressed and irritable, just as though in lower incomes suffer too. What’s happening today to fix capitalism? Finally, if you want to find out what’s already being done to fix capitalism, here are some organisations that are changing the way we define business and economic success: Environmental, Social and Governance (ESG) criteria Most of us want to do the right thing. In business, many companies are adopting ESG criteria. However, they are perhaps doing it more to comply with market trends than a genuine desire to make the world a better place. Many leaders want to move away from the relentless pursuit of short-term profits demanded by their shareholders, but doing the ‘right thing’ is difficult. When they do act, it is to protect their businesses against bad publicity or to help save the planet? US Business Roundtable In August 2019, 181 chief executives of leading US companies who belong to the non-profit group US Business Roundtable redefined the purpose of a corporation to ‘promote an economy that serves all Americans’. In other words, a move away from shareholder primacy to include commitments to all stakeholders. Council for Inclusive Capitalism In December 2020, the Council for Inclusive Capitalism was created by the Vatican to promote a more inclusive and sustainable economy. The Council believes the strongest and most valuable businesses are those that profitably create value for all stakeholders. Its steering committee has offices across 163 countries representing 200 million workers and $2.1 trillion in market capitalisation. B Corporation B Corporation provides a private certification of social and environmental performance. Companies need to pass an assessment and update their governing company documents to reflect the commitments to all stakeholders. As of March 2022, there were 4,856 certified B Corporations across 153 industries in 79 countries. Conscious Capitalism A movement that aims to raise the standards of business. Forum for the future The non-profit organisation is “reinventing the way the world works”. It recommends the Five Capitals framework for sustainability, as described by environmentalist Jonathan Porritt, that integrates natural, human, social, manufactured and financial capital into existing models. Implementing Stakeholder Capitalism Nobel Laureate economist Milton Friedman said: “The business of business is business.” But this focus on short-term profit-making is now seen to be responsible for everything that’s wrong with capitalism – from the various financial crises we have endured to increasing inequalities and climate change. But capitalism is constantly transforming itself and it will continue to do so. And it can do that best within a free, fair and democratic system, so people are free to innovate, take risks and receive rewards for doing so, once all stakeholders are accounted for. Most people agree the principle of capitalism is a good one, the debate only comes down to how best to implement it. Capitalism is based on creating prosperity and freedom for everybody. Markets need to be free and fair, we need only consider how free and fair they are today. Many companies are now starting to see that their responsibilities are beyond just making a profit. The external cost of doing business needs to be factored in, the externalities in economic-speak. For example, there are social costs to burning fossil fuels that need to be accounted for. We just need to update the rules of the game to make capitalism better and the private sector can lead the way. After all, business can’t work underwater, with failing climate, food shortages, people moving from hotter climes to cooler ones and countries going to war over rapidly reducing habitats and infertile land. The private sector must lead the way because governments can only do so much. They can’t innovate or create the products and services needed to make capitalism work better. Big, public-listed companies must manage the short-term expectations of their shareholders, but private sector businesses are free of all these constraints. They are agile, quick thinking and innovative, just what is needed to show the way out of this crisis. Companies can make millions and billions of pounds out of solving the climate challenges of our time. You only have to look at electric car manufacturer Tesla, one of the most valuable car companies in the world, so there is a business opportunity in making capitalism better. People often think business is the problem, but it’s not. We just need to update the rules by which the game of business is played. If we don’t do that in a timely way, they’ll be no more game to play. So, we need to transform business and our daily lives to regenerate the planet, extract the excessive amounts of carbon with a carbon management system being created from the atmosphere, create better infrastructure, reduce inequality, increase productivity, and repair and restore the planet’s biodiversity. A Gallup poll found people today associate socialism with equality, not state control, and ownership of the means of production. So, discussions around the merits of socialism need to be tempered with this mind, people are starting to forget that it is far from a utopian ideal. Any consideration of how to fix, improve or upgrade capitalism has to start with considering human nature. McGregor defined two types of people: Theory X and Theory Y people. Theory X people are lazy and don’t like to work; Theory Y people are self-motivated. Whichever camp you’re in, everybody needs self-esteem, self-respect and recognition for the work they have completed and the contributions made. In improving capitalism, it is necessary to include the moral, ethical and spiritual considerations of people as part of business philosophy, especially among the leaders of business, the 1% who control the other 99%. This can be achieved by agreeing a set of values that everybody can sign-up to. Capitalism managed with morals, vision and ethics would be the correction we need. So far, we have seen the debate as two sided. We have free enterprise (capitalism) where people and markets are left to their own devices and on the other side state-controlled socialism, where the state is responsible for everybody and everything. Neither extreme is a good idea. A third route is required. We need a mixed economy that contains the freedom of western capitalism that allows for innovation and risk-taking and the rewards that come with that along with the controls of state regulation. This ensures the game is played fairly and equitably, with the spoils spread in a fair way. But perhaps the answer today isn’t capitalism, state control or a mixed economy. Rather, it is in providing consumers with more transparency of the costs and impact of producing the things they are buying. They can then choose to buy from companies not just because of their products and services, but because of the regenerative good they do for the planet and all stakeholders. 13 steps towards Stakeholder Capitalism It falls to small businesses, the private sector, to fix our problem with capitalism. The only way to address that is to ensure the consumer can see the impact they are having with the purchases they make. How do we organise economic and social life in a way that regenerates for all stakeholders? Society reflects business. Stressed workers go home to stressed families, and stressed kids, creating stressed communities. People who are stressed make poor decisions and are less motivated. 13 steps business leaders can take to make capitalism work better from within their own businesses: 1) Workers share more of the company’s success 2) Address inequality within the business by raising the wages at the bottom end and lowing the top 3) Provide professional development, education, training, and health care within the business 4) Provide more autonomy for staff within their roles 5) Break down the divisions between leaders, managers, directors and staff 6) Increase the transparency of important information 7) Be more inclusive in decision making so people feel valued 8) Go for long term growth, not short-term profits 9) Increase diversity, more diverse companies make better decisions and are more profitable 10) Ensure women are in senior roles. Companies with women in the Executive outperform those without. Men tend to want to win now, women tend to want to build long-term partnerships (there’s a reason Angela Merkel was called ‘Auntie’) 11) Make sure there is a collective shared vision that’s focused on the common good of all stakeholders 12) Increase trust with open, honest, timely and candid dialogue 13) Lead with awareness, alignment and values. Consider all decisions in the light of shared values and a common vision across all stakeholders. One thing many people experienced during the Covid-19 lockdown was that it slowed everybody and everything down. For a short period (not so short for some), the rat race was on hold. Everybody was equalised, everybody had to stay at home, go to the park for exercise and queue up for things. It didn’t matter where you came from, how much you earned or where you worked, everybody became equal during this period. For many of us, this was a great thing. We became more relaxed, more conversational with people we didn’t know or perhaps ordinarily would never talk to. This evidence shows how inequality and constant rush increase stress levels. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Embracing Agile: A Transformational Approach to Modern Business Embracing Agile is a paradigm shift towards flexibility and collaboration. It empowers organisations to adapt rapidly, enhance customer satisfaction, and foster continuous improvement. Agile is not just a methodology; it's a transformative mindset essential for thriving in today's ever-evolving business landscape. In the fast-paced and ever-evolving landscape of today's business world, agility has become more than just a buzzword; it's a fundamental necessity. Embracing Agile methodologies has emerged as a transformative approach that empowers organisations to adapt, innovate, and thrive in an environment characterised by uncertainty and rapid change. In this 1000-word exploration, we delve into the core principles of Agile, its benefits, and practical steps for implementation. Understanding Agile At its core, Agile is a mindset and a set of principles that prioritise flexibility, collaboration, and customer-centricity. Originally developed for software development, Agile has now found applications across various industries, including project management, marketing, and even HR. The Agile Manifesto, created in 2001 by a group of software developers, serves as the foundation for Agile principles. The Agile Manifesto The Agile Manifesto outlines four key values and twelve principles that guide Agile practices. The four core values are: Individuals and interactions over processes and tools: Agile emphasises the importance of people and their collaboration in achieving project success. It values face-to-face communication and teamwork. Working software (or product) over comprehensive documentation: Instead of focusing excessively on documentation, Agile encourages the delivery of a functional product or software that meets the customer's needs. Customer collaboration over contract negotiation: Agile promotes customer involvement throughout the development process to ensure the product aligns with their evolving requirements. Responding to change over following a plan: Agile recognises that change is inevitable and values the ability to adapt to changing circumstances, even late in the project. The Agile Principles The twelve principles derived from the Agile Manifesto further elucidate its values and provide a practical framework for Agile implementation. These principles include fostering customer satisfaction, welcoming changing requirements, delivering products frequently, and maintaining a sustainable pace for the team, among others. Benefits of Embracing Agile Embracing Agile methodologies can yield numerous benefits for organisations, both large and small. These advantages extend beyond software development to encompass all facets of business operations. 1. Enhanced Flexibility Agile allows organisations to quickly respond to market changes, customer feedback, and emerging opportunities. Teams can adjust their priorities and work on the most valuable tasks, ensuring that resources are used efficiently. 2. Improved Collaboration Agile promotes a culture of collaboration and cross-functional teamwork. Teams work closely with stakeholders, share knowledge, and continuously improve their processes. This collaborative approach fosters innovation and drives better results. 3. Faster Time-to-Market Agile's iterative and incremental approach to development enables organisations to deliver products and features more rapidly. This agility is especially valuable in industries where time-to-market is a critical success factor. 4. Increased Customer Satisfaction By involving customers throughout the development process and responding to their feedback, Agile ensures that products and services better align with customer needs and expectations. This leads to higher customer satisfaction and loyalty. 5. Better Risk Management Agile encourages early and frequent testing, which helps identify issues and risks sooner in the development process. This proactive approach to risk management reduces the likelihood of costly late-stage changes. 6. Continuous Improvement Agile promotes a culture of continuous improvement through regular retrospectives. Teams reflect on their processes and outcomes, identify areas for enhancement, and implement changes iteratively. Embracing Agile: Practical Steps Transitioning to Agile requires more than just adopting a new set of practices; it necessitates a cultural shift within the organisation. Here are practical steps to embrace Agile successfully: 1. Leadership Buy-In For Agile to thrive, leadership must endorse and actively support the transformation. Leaders should understand Agile principles and communicate their commitment to the organisation. 2. Training and Education Invest in Agile training and education for your teams. Equip them with the knowledge and skills needed to implement Agile practices effectively. 3. Form Cross-Functional Teams Assemble cross-functional teams that include members with diverse skills and perspectives. This diversity fosters innovation and ensures that all aspects of a project are considered. 4. Define Clear Objectives Clearly define project objectives and the desired outcomes. This provides teams with a shared vision and a sense of purpose. 5. Implement Agile Frameworks Choose an Agile framework that aligns with your organisation's needs, such as Scrum, Kanban, or Lean. Tailor the framework to fit your specific context. 6. Iterative Development Break down projects into smaller, manageable iterations. Focus on delivering a minimum viable product (MVP) early and then build upon it based on feedback. 7. Frequent Communication Facilitate regular communication among team members, stakeholders, and customers. This ensures everyone is informed and can provide input throughout the project. 8. Embrace Change Embrace change as an opportunity for improvement rather than a disruption. Agile teams are flexible and adapt to evolving requirements. 9. Measure and Learn Implement metrics and key performance indicators (KPIs) to assess progress and outcomes. Use data-driven insights to make informed decisions and drive continuous improvement. 10. Foster a Culture of Continuous Improvement Encourage teams to regularly reflect on their processes and outcomes. Celebrate successes and address areas for improvement in a blame-free environment. Conclusion In today's dynamic business environment, embracing Agile is not a choice but a necessity. Its principles and practices offer organisations a way to thrive amid uncertainty, adapt to change, and deliver value to customers more effectively. By cultivating a culture of flexibility, collaboration, and continuous improvement, businesses can position themselves for success in an ever-evolving landscape. Embracing Agile is not just a transformation of processes; it's a transformation of mindset that empowers organisations to innovate, excel, and lead in their respective industries. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Agile HR: Revolutionising Human Resources in the Modern Workplace Agile HR is a modern approach to human resources management that aligns with Agile principles from software development. It emphasises adaptability, collaboration, and customer-centricity in HR processes. Agile HR encourages iterative improvements, cross-functional teams, and a focus on employee engagement to better support organisational goals and respond to changing business needs. In an era marked by rapid technological advancements, shifting market dynamics, and evolving workforce expectations, traditional Human Resources (HR) practices are undergoing a transformation. Enter Agile HR, a contemporary approach that adapts agile principles from software development and project management to HR functions. Agile HR has emerged as a game-changer, offering organisations the ability to stay flexible, responsive, and employee-centric. In this comprehensive exploration of Agile HR, we delve into its key principles, benefits, challenges, real-world applications, and best practices. Understanding Agile HR Agile HR is not a one-size-fits-all approach; rather, it is a mindset and set of practices aimed at reimagining how HR operates in a dynamic environment. At its core, Agile HR shares several key principles with agile methodologies used in software development, such as Scrum or Kanban. These principles include: 1. Iteration Agile HR operates in cycles or iterations, typically called sprints, where teams focus on specific HR initiatives, adapt as needed, and then move on to the next set of priorities. This iterative approach allows HR to respond promptly to changing business conditions and employee needs. 2. Collaboration Cross-functional teams consisting of HR professionals, managers, and employees work together to solve problems, improve processes, and achieve HR objectives. Agile HR fosters a culture of collaboration, breaking down traditional silos within HR and across the organisation. 3. Feedback Frequent feedback loops are established to ensure continuous improvement. Agile HR relies on regular check-ins and retrospectives to assess and adjust HR practices, enhancing the adaptability and effectiveness of HR initiatives. 4. Customer-Centricity Agile HR places employees at the center of its efforts, seeking to meet their needs and enhance their experiences within the organisation. This customer-centric approach ensures that HR practices align with the expectations and aspirations of the workforce. Benefits of Agile HR Enhanced Flexibility Agile HR enables organisations to swiftly respond to changing business conditions and employee needs. Teams can pivot and adapt without being locked into rigid, long-term plans. This flexibility is crucial in a rapidly evolving business landscape. Improved Employee Engagement By involving employees in decision-making and process improvement, Agile HR fosters a sense of ownership and engagement. Employees become active participants in shaping the workplace culture, leading to higher job satisfaction and retention rates. Faster Problem Resolution Agile HR's iterative approach allows for the timely identification and resolution of HR issues. Rather than waiting for annual reviews or assessments, teams can address problems promptly, resulting in a more agile and efficient HR function. Increased Innovation Encouraging experimentation and creativity, Agile HR fosters a culture of innovation. HR teams and employees alike are empowered to propose and test new ideas, leading to continuous improvement and adaptation to evolving needs. Better Talent Management Agile HR facilitates more effective talent acquisition and retention by focusing on employees' career development, skill enhancement, and well-being. By aligning HR practices with employee aspirations, organisations can attract and retain top talent. Challenges of Implementing Agile HR While Agile HR offers numerous advantages, it is not without its challenges: Change Management Transitioning from traditional HR practices to Agile HR can be met with resistance from employees and HR professionals accustomed to conventional processes. Effective change management strategies are essential to mitigate resistance. Cultural Shift Organisations must cultivate a culture of trust, transparency, and open communication to enable Agile HR to thrive. This cultural shift may require time and effort, as employees and leaders adjust to new ways of working. Skill Set Requirements HR teams may need to acquire new skills in areas like data analysis, facilitation, and agile methodologies to effectively implement Agile HR. Training and development initiatives may be necessary to bridge skill gaps. Scalability Agile HR may face difficulties when applied to larger organisations or those with multiple layers of hierarchy. Adapting agile principles to suit different contexts can be complex, and scaling Agile HR practices may require careful planning and customisation. Real-World Applications of Agile HR Several organisations have successfully adopted Agile HR principles to revolutionise their HR practices. Here are a few examples: Spotify Known for its innovative approach to HR, Spotify employs a "Squad" model, where cross-functional teams take ownership of HR initiatives. This model allows for rapid iteration and customisation of HR processes to suit the unique needs of each team. Spotify's Agile HR practices have contributed to its reputation as an employer of choice. ING Bank ING Bank embraced Agile HR to streamline its performance management system. They replaced traditional annual reviews with continuous feedback and coaching, resulting in increased employee satisfaction and productivity. ING Bank's Agile HR transformation demonstrates how iterative feedback can drive meaningful change in HR practices. Airbnb Airbnb employs Agile HR practices to adapt its HR policies to the diverse needs of its global workforce. The company uses regular "Pulse" surveys to gather employee feedback and adjust HR practices accordingly. Airbnb's customer-centric approach to HR has helped create a culture of inclusion and responsiveness. Zappos The online retailer Zappos implemented Agile HR practices, including holacracy, which eliminated traditional hierarchies and empowered employees to self-organise into teams. This approach has led to greater employee engagement and adaptability. Zappos' Agile HR journey showcases how unconventional HR structures can foster innovation and agility. Best Practices in Agile HR Implementation Successful Agile HR implementation requires careful planning and adherence to best practices: Leadership Buy-In Obtain leadership support and commitment to drive the Agile HR transformation. Leaders should champion the cultural shift and set an example for the rest of the organisation. Pilot Projects Start with small pilot projects to test Agile HR practices. This allows teams to learn and refine their approach before scaling up. Training and Development Invest in training and development programs to equip HR professionals with the necessary skills and knowledge to thrive in an agile environment. Provide ongoing learning opportunities to stay up-to-date with best practices. Clear Communication Communicate the Agile HR journey clearly to all stakeholders. Transparency and open dialogue are essential to address concerns and maintain trust throughout the transformation. Feedback Loops Establish regular feedback loops with employees and teams. Use feedback to make informed decisions and continuously improve HR practices. Adaptability Be prepared to adapt Agile HR practices to suit the unique needs of your organisation. Flexibility is key to ensuring that Agile HR aligns with your specific context and goals. Conclusion Agile HR is a transformative approach that empowers organisations to navigate the complexities of the modern workplace. By embracing agile principles such as iteration, collaboration, feedback, and customer-centricity, HR functions can become more agile, responsive, and employee-centric. While there are challenges in implementing Agile HR, the benefits, including enhanced flexibility, improved employee engagement, and increased innovation, make it a worthwhile endeavor. As organisations continue to evolve, Agile HR is poised to play a pivotal role in shaping the future of human resources management, driving employee satisfaction and organisational success. 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10 Green Growth Business Improvement Ideas Companies can make a big difference in the fight for the environment in just a few steps, and the first step is in adopting a green growth business improvement strategy and ESG principles. Air pollution, plastic in the oceans, global warming, deforestation, throwing tons of food away, earthquakes, and other weather problems are the main reasons why we are concerned about the environment and our common future. We are increasingly aware of the importance of taking care of nature and the environment and building a sustainable society in which not only individuals, but also communities, companies, and institutions have responsibility. The most serious problem is climate change, which has proven to be a consequence of human activity. Climate change can transform our planet and affect our food, water supply, and health. This is precisely why companies themselves must take responsibility and have a positive impact on the environment and the community through their work. Companies can make a big difference in the fight for the environment in just a few steps, and the first step is in adopting a green growth business improvement strategy and ESG principles. WHAT IS ENVIRONMENTAL, SOCIAL, AND CORPORATE GOVERNANCE (ESG)? The practice of Environmental, social, and corporate governance has greatly developed and expanded in the last ten years. Attitudes related to environmental protection and the desire for a better and greener future contributed to the development of this management model. Considering the consequences of climate change, companies - smaller and larger, are turning to socially responsible environmental businesses. The rapid development of this business model has spread thanks to the advocacy of market leaders who promote this way of corporate behaviour. ESG is a business model in which various companies operate and make efforts in order to preserve and improve the environment, contribute to nature, and provide society with a greener future. Find out below what all the benefits your company achieves through socially responsible business. BENEFITS OF ESG Increased engagement and motivation of employees Encourage professional and personal growth Builds a healthy corporate culture Reduction of financial costs and higher income Increased Brand Recognition Strengthening the company's brand Builds public trust Increased investment opportunities Expansion of the labour market Increased customer retention and loyalty New opportunities for representation in the media and press Greater Sustainability ESG plays a crucial role in a company’s brand perception and overall business success. It is one of the best ways to attract and retain a quality workforce, especially highly educated and professional people. Research has shown that employees of socially responsible business companies have higher motivation and productivity, higher quality of work, and are less likely to be absent from work. This business model opens up space for innovation by providing the company with access to new ideas, new perspectives, and experiences, and indicates the need for new products through contacts with new clients. 10 WAYS YOUR BUSINESS CAN CONTRIBUTE TO GREEN GROWTH Being environmentally friendly will have benefits not only for the environment and community but also for your business. You have surely read somewhere how you can contribute to the preservation of the environment, introduce sustainable development, reduce your company's costs, improve the image of your company, and become part of corporate social responsibility. You know you should make your business greener, but maybe you don't know where to start. Below, read 10 steps that will make your company greener and provide a healthier future for the community. 1. EMBRACE TECH Accept and implement new technologies in your business to reduce the use of resources and make your processes more efficient. Technology helps companies stay organized and keeps the business itself secure. With the digital transformation of your business, you will be able to get to know your clients and customers much more efficiently and contribute to them in more effective ways. This step makes your business more resilient to future changes. 2. SAVE ENERGY – SWITCH TO LED LIGHTBULBS Energy consumption varies depending on the type and volume of your business, but on average businesses can use between 15,000 and 25,000 kWh of energy per year. Increasing natural light in offices and business spaces is a great way to reduce energy, but it is also better for your health. For areas where natural light is simply not possible, use LED light bulbs. You can save energy, cut costs, and protect the environment at the same time by changing every light bulb in your space. 3. REDUCE ENERGY AND RESOURCE USE Use energy and resources more efficiently. Whether you work in a business space or from home, turn off devices that you are not using at the moment, improve insulation, recycle more, reduce paper printing as much as possible, use recycled materials, replace old devices with new ones that consume less electricity, etc. In this way, you will save money and contribute to reducing climate change and preserving the environment. 4. USE SUSTAINABLE PRODUCTS Nowadays, product sustainability is key to success. The items that a company buys to ensure everything it needs to run a successful business can often be extremely harmful to the environment. Every company should strive to use sustainable products that come from environmentally friendly or harmless sources. Using products that are made from recycled materials is a great step towards sustainable development. Replace classic toxic cleaners with green cleaners that you can find in every store today. Choose natural ingredients and protect your health and environment. 5. REDUCE PAPER WASTE Various business enterprises in the last few years have taken a big step by switching to paperless. However, the further reduction of paper use has not decreased sufficiently. You can reduce paper consumption in a few simple ways; encourage staff to minimally print documents but to keep them electronically, consider alternative paper materials for printing, recycle & shred paper documents, get rid of personal waste and set up recycle bins, etc. 6. CULTIVATE A ZERO-WASTE CULTURE The zero-waste way of doing business is becoming more and more popular and many companies of different sizes are applying it. Waste disposal costs have increased by more than 25% in the last 10 years. By sending less material to the landfill and returning the value of the goods with recycling, it will reduce the company's costs and contribute to sustainable development. You can introduce a zero-waste way of doing business through several steps – establish certain waste reduction goals, develop waste prevention and reduction strategies, engage your employees, etc. Zero-waste is the whole mindset that can contribute to benefitting your business. 7. SAVE WATER Saving water is a significant step towards responsible ecological business. Fixing leaky faucets can literally stop your business from wasting gallons of water. Improve water system assessment and maintenance and install water-saving equipment. Get your staff on board with reducing water consumption and show them how reducing water consumption can contribute to a greener future. 8. RECYCLE & REUSE Encouraging recycling and reusing is important in any green business. Try to reuse materials and items whenever possible. Encourage employees to use all good materials to the maximum, let them use both sides of the paper for printing and the like. When you cannot reuse a particular item, recycling is the best option. Reduce or eliminate single-use items from your workplace such as single-use paper. Use reusable packaging where possible and educate your employees on how they can contribute to reducing waste. 9. DO BUSINESS WITH GREEN BUSINESSES As a green business, you must maintain partners and companies that act in harmony with the environment and want to contribute to the healthy development of the community and society. Support local businesses, organic products, and all those who stand up for ecology. Becoming a sustainable business depends on the companies you support. 10. PROMOTE ECO-FRIENDLY AWARENESS AMONG YOUR EMPLOYEES, CUSTOMERS & CLIENTS It is important to not only show the world that you are now an eco-friendly business but also to promote this idea amongst your employees & clients. Make sure they know what products you use, what your corporate culture is, and what it means to be implementing green growth. One of the most important aspects of combating climate change is raising awareness. Educate your employees about the harmful effects of climate change, but show them ways they can contribute to developing a healthy future. Educating your employees is a great way to ensure that you are doing your part in raising awareness about going green. The awareness that companies are raising for climate change is important because it can affect people’s decisions that they make for themselves. ‘Green growth’ is surely a rising trend for businesses, but more than that it, is one of those ideas that can encourage long-term sustainable changes and savings. There are many things you can do to ensure a greener business and enable a better future. You can do this by raising awareness of the importance of ecology and sustainable development or by adopting a green policy. Whichever way you decide, you will certainly contribute to the reduction of climate change. With small steps, your business can become greener and more environmentally friendly, which contributes to the image of the company itself, healthier life, and a more successful business. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

The Power of Sustainable Innovation: Real-World Case Studies Sustainable innovation transforms industries. Companies like Tesla, Unilever, Patagonia, Interface, and Danone prove that profitability and purpose harmonise through eco-friendly strategies, securing a brighter, responsible future. In an age defined by environmental concerns and heightened social responsibility, the integration of sustainability into business strategies has become paramount. Companies worldwide are embracing the notion that sustainable innovation is not only an ethical obligation but also a source of innovation, competitive advantage, and profitability. This article will explore real-world case studies of companies that have successfully embedded sustainability into their core business strategies, highlighting their innovative approaches, the challenges they encountered, and the tangible benefits they have reaped in terms of profitability and purpose. Tesla: Revolutionising the Automotive Industry When you think of sustainable innovation in the automotive industry, Tesla inevitably comes to mind. Founded in 2003 by Elon Musk, Tesla's vision was to accelerate the world's transition to sustainable energy. The company's groundbreaking electric vehicles (EVs) have disrupted the traditional automotive industry, demonstrating that sustainability can go hand in hand with innovation. Tesla's innovative approach began with the production of high-performance electric sports cars. These vehicles not only reduced greenhouse gas emissions but also shattered preconceived notions about the capabilities of electric vehicles. The company then expanded its product line to include more affordable models, like the Model 3, making sustainable transportation accessible to a broader audience. Tesla's challenges included battery technology development, charging infrastructure, and navigating regulatory obstacles. However, their unwavering commitment to sustainability led to groundbreaking solutions. Tesla's Gigafactories manufacture batteries at an unprecedented scale, reducing costs and increasing the range of their vehicles. Their Supercharger network addressed range anxiety, offering fast charging capabilities to EV owners. The result? Tesla has not only driven the adoption of electric vehicles but has also become one of the most valuable companies in the world, proving that sustainability can be a catalyst for business growth and success. Unilever: The Sustainable Living Plan Unilever, a multinational consumer goods company, set a shining example in the realm of sustainability with its Sustainable Living Plan. Unilever recognised early on that its products' environmental and social impacts needed addressing. Their innovative approach was to fully integrate sustainability into their business model, all while striving to double the size of the business. Unilever's challenges were vast. They had to reassess their entire supply chain, ensuring it met sustainability standards. This involved finding sustainable sources for raw materials, reducing waste, and minimising their carbon footprint. They also set ambitious goals, like helping more than a billion people improve their health and well-being and reducing their environmental impact by half. To meet these goals, Unilever focused on product innovation. They developed products that were not only environmentally friendly but also addressed social issues. For example, their Lifebuoy soap initiative aimed to improve hygiene in developing countries. They also acquired companies like Ben & Jerry's and Seventh Generation, known for their commitment to sustainability. Unilever's Sustainable Living Plan not only improved their environmental and social footprint but also bolstered their brand image and bottom line. The company reported that their sustainable brands grew 69% faster than the rest of the business in 2018. This case study exemplifies how integrating sustainability into core business strategies can drive revenue and enhance brand value. Patagonia: Leading the Way in Ethical Apparel Patagonia, an outdoor apparel company, has long been a trailblaser in sustainability and ethical business practices. Their commitment to sustainability goes beyond mere lip service – it is ingrained in the company's DNA. Patagonia's innovative approach to sustainability is anchored in the belief that less harm means more good for the world. One of their most remarkable initiatives is the "Worn Wear" program. This program encourages customers to buy used Patagonia items, repair their old clothing, or trade in used items for store credit. This not only extends the life of their products but also minimises waste and promotes responsible consumption. Patagonia has also taken a stand against "fast fashion" by encouraging customers to buy fewer, high-quality items that last. Their commitment to environmental responsibility led them to donate 100% of Black Friday sales in 2016 to grassroots environmental organisations, contributing over $10 million. Challenges faced by Patagonia included navigating the complexities of their supply chain and balancing sustainability with profitability. However, their innovative approach and unwavering commitment to environmental and social responsibility have led to remarkable results. Patagonia's revenue has continued to grow, demonstrating that consumers are increasingly valuing ethical and sustainable brands. Interface: Sustainability in Carpet Manufacturing Interface, a global manufacturer of modular carpet, is a prime example of how a company can completely revamp its business strategy to align with sustainability. Their founder, Ray Anderson, underwent a transformative journey when he realised the environmental impact of his business. Interface's innovative approach was to adopt a mission to become the world's first environmentally sustainable and socially responsible company. Interface's journey was marked by challenges. They had to reimagine their entire production process, making it more sustainable. They introduced innovative technologies like closed-loop recycling, where old carpets are collected, recycled, and used to make new ones. This reduced waste and resource consumption while saving money. The company also pursued a goal to source 100% of its materials from renewable or recycled sources. Their innovative approach to sourcing led to partnerships with suppliers who shared their sustainability goals. Interface also aimed to achieve zero net emissions, pushing them to invest in renewable energy and reduce their carbon footprint. The results have been remarkable. Interface has reduced its environmental impact, increased customer loyalty, and improved its bottom line. Their dedication to sustainability has not only paid off in terms of profits but has also solidified their position as a leader in sustainable business practices. Danone: Nurturing a Sustainable Food System Danone, a multinational food-products corporation, has undertaken a journey to transform the way they do business, focusing on healthier and more sustainable food products. Their innovative approach is guided by their "One Planet. One Health" vision, which aligns business success with the well-being of people and the planet. Danone's challenges included transforming their product portfolio to offer healthier options, reducing their carbon emissions, and promoting sustainable agriculture. They've invested in research and development to create healthier, more sustainable food products and have implemented sustainable farming practices. One of their most notable initiatives is the Danone Ecosystem Fund, which supports local farmers and communities in developing countries, helping them adopt sustainable agricultural practices. This not only improves the livelihoods of farmers but also secures a sustainable supply of raw materials for Danone. The company's commitment to sustainability has resonated with consumers, making them a preferred choice for those who value healthy, sustainable food products. Their revenue growth is indicative of the profitability of aligning business strategies with sustainability and health. These real-world case studies underscore the power of sustainable innovation in transforming companies and industries. They demonstrate that integrating sustainability into core business strategies can lead to innovative solutions, increased profitability, and a stronger sense of purpose. By embracing sustainable practices, companies can not only mitigate environmental and social challenges but also thrive in an increasingly conscious and responsible world. The time for sustainable innovation is now, and these case studies provide a compelling roadmap for companies looking to make a positive impact on the world while growing their bottom line. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

How Finance Can Drive Business Performance Finance has data and operational insight to identify key areas of businesses where value can be created to improve internal business performance. Learn more. Over the past decade, the role of finance has focused often exclusively on reducing costs — and they’ve been successful at it too, reducing costs on average around 30% across all industries. But research shows this focus is shifting from the traditional accounts management and cost cutting activities to instead a focus on finding and creating value adding activities for businesses. In other words — it’s time to rethink finance. This shift from traditional finance activities to value-driven activities is excellent news for businesses, but it isn’t without its challenges. The CFO, alongside their wider finance department, is in a unique position to lead this change and utilise data-driven decisions to improve business performance and productivity . That’s why in this article, we’ll be looking at: How finance functions are changing across businesses The challenge CFOs face in developing finance function How finance can drive business performance How Finance Functions are Changing Across Businesses As we mentioned in the introduction, for the previous decade the primary function of finance departments was to cut costs, something that most organisations achieved. Research shows the function of finance has moved on. In fact, on average five functions other than finance now report into the CFO. While surveys of CFOs reveal four in ten say they spent the majority of their time over the course of a year focusing on activities besides traditional and speciality finance. The CFOs who stated they focused on non-finance activities said they spent most of their time over the last year on: Strategic leadership Organisational transformation Performance management Capital allocation Big data and analytics Finance capabilities Technology trends ( cybersecurity, IT etc. ) Other functions ( risk management, procurement etc. ) Not only did CFOs spend more time in these areas, but they say they developed more value through these other activities. Only 18% of CFOs said traditional finance activities have created the most value for their company and 22% cite strategic leadership as the area with most value. This shift to value added activities makes perfect sense given the increasingly difficult, global economic landscape that businesses face. It is no longer practical to keep finance on the side lines, when they have the data, operational knowledge and analytical thinking to drive internal performance. But this change is not without its challenges. The Challenge CFOs Face in Developing Finance Function The barriers to finance functioning as it needs to to drive business performance are vast, but in summary: Disconnect between CFO responsibilities and perceived role A lack of investment in new data and automation technologies A lack of available talent and training A dated finance operating model Challenging the status quo of strategy A Disconnect Between CFO Responsibilities and Perceived Role There is a disconnect between how CFOs view their role and what other C-suite executives expect of them. From the above, we know the need for CFOs to be involved and even lead business strategy and to dedicate more of their time to this aspect in order to add value to businesses. Most CFOs and C-suite executives agree that CFOs are significantly involved in bringing deep financial expertise to boardroom discussions, as well as focusing these discussions on the creation of financial value. But while 79% of CFOs state they're significantly involved in allocating financial resources, only 29% of other C-suite executives agree. In a similar vein, another study reveals 51% of finance organisations are involved in setting strategy, but only 17% are seen as leading it. This research highlights a clear need for the role of the CFO to develop and for that change to be communicated to the rest of leadership to allow finance leaders to better develop strategy. A Lack of Investment in New Data and Automation Technologies It's apparent to all those within finance, and outside of it, that businesses have entered a new age of technology and automation in the Fourth Industrial Revolution. Finance technology in particular has developed so that many of the transactional activities that used to take up so much time are now almost exclusively automated. But the adoption of this technology has not logically led to the adoption of the next wave of financial technology. Less than one in three CFOs believe their company has the capacity to be competitive in their digitisation of business activities. A separate study reveals that only 10% of organisations have widespread use of reporting and predictive tools to aid data led insights to create value. This gap in investment in new data technologies presents considerable challenges for CFOs and finance departments in driving business performance. Without investment in advanced technologies, finance will struggle to identify areas of the business that could create the most value. A Lack of Available Talent and Training The new CFO and the new function of finance needs to look beyond the static job descriptions of finance currently. To strategise effectively, CFOs increasingly need a sense of commercial awareness. In fact, commercial acumen is ranked as the number one competency required in developing finance business partnerships. Looking beyond the CFO and into the wider finance department presents new challenges too. There is a global shortage of data scientists and analysts. But these skills are vital in being able to digest and action the insights available from machine learning and AI. A Dated Finance Operating Model The new finance technologies we mentioned above allow for more contextual reporting. Where previously, finance departments predominantly looked at internal sources of data, new technologies allow this data to be put into a wider external context. For example, profit projections can be contextualised against overall industry performance. This is great news as it will deliver more accurate reporting, allowing for better planning. But with it come new challenges. Current finance operating models lack both the data management practices and the departmental agility to react to wider contextual changes effectively. Annual, or even quarterly reporting , does not allow for sufficient reactivity to changing economic circumstances — and we've all seen over the last year how quickly those circumstances can change. Challenging the Status Quo of Strategy More than 50% of a company's growth comes not from internal performance improvements, but simply from functioning in markets that are doing well. It makes sense then, that when it comes to business strategies, companies allocate 90% or more of their resources to the same projects and activities as the last year, regardless of changes in environment. CFOs and finance departments face the unique challenge of changing the status quo for business strategy. Even with data-driven insights, they will still need buy-in from all other stakeholders and leadership to actually be able to lead these changes. How Finance Can Drive Business Performance Though the challenges are plentiful, there is much finance departments can do to tackle them successfully. The following steps are a good start: Develop the role of the CFO Invest in modern technologies Change the finance operating model Identify and target performance drivers Collaborate with the rest of the organisation Develop the Role of the CFO The CFO is at the helm of the financial ship. Without their direction and guidance, all other efforts will lack direction and clarity. The CFO then needs to champion these changes as a finance leader. They need to guide the wider department and business in focusing on value added activities. Vanessa Simms , CFO of Grainger, recognises this shift in role: “Traditionally a CFO has been about stewardship, performance management, whereas now I think fundamental to the role is being a good business partner, helping the business make the right decisions, and helping to execute strategy. I see that as fundamental to the CFO role." CFOs then need to move from leading just the finance department to a more holistic position of leadership. This isn't a challenge they can face alone and represents a need for wider business hierarchies to shift and allow for better data-driven strategies to take prominence. To achieve this, the CFO must possess a variety of new skills that were not formerly associated with the role, with the top CFO skills cited as : Excellent communication skills Wider people skills Leadership skills Commercial acumen The ability to support and also challenge the CEO Analytical and strategic skills Invest in Modern Technologies This step is a little simpler. Companies cannot hope to remain competitive in a digital age unless they invest in new technologies that help them drive business performance. The technologies that are revolutionising finance are vast, with many new contenders to the scene. CFOs and finance departments need to have a good understanding of the finance technologies that can best benefit their businesses, as well as the backing from other C-Suite executives to invest in them. Advanced analytics can allow finance departments to make more effective, reactive decisions. As such, it’s important that finance departments play a clear role in managing data and should be a key player in data strategies. Where possible, technologies that allow laborious tasks to be automated should be invested in, allowing staff more time to dedicate to strategic tasks and innovation, driving better internal business performance. Change the Finance Operating Model The purpose of finance is now to drive performance, but the current finance operating model is static and allows for little agility or reactivity. Finance departments need a new operating model. They need to be able to work faster and more dynamically so that when data highlights new opportunities for performance, teams can work reactively to plan the steps needed to maximise those opportunities. Though one operating model cannot fit all businesses, there is a strong argument that the finance operating model could look more akin to the common IT operating model. These typically consist of flatter hierarchies of teams with agile working principles, allowing for high performance working. At the same time, finance departments need their staff to have the right behaviours for the new finance function, as well as the correct skills for the future. To address these, finance departments, alongside HR, can use selective hiring techniques to hire for the behaviours to best suit the role and wider company. So for example, instead of hiring solely for analytical skills ( which can be taught ), companies can hire those who display change agent behaviours instead. Of course, there is still a need for analytical skills within finance, as well as a more pressing need for advanced data analytical skills. Businesses must invest in their employees' skill development throughout their career to ensure the finance department has the right skills and behaviours to produce the best results. Identify and Target Performance Drivers With the right technologies, team and leadership, finance departments can move onto this vital step; the switch from cost reduction strategies. Cost reduction is a short-term fix. For companies that want to grow in the long-term, it is not a sustainable business strategy. Cost cutting is a counterproductive strategy which often leads to missed opportunities, high operational costs and inefficiencies across businesses. Instead, the CFO and wider finance department must bring unique insight into where capital allocation is best-used, based on data. They can achieve this by using advanced analytics to identify areas of the business where changes could add value and help grow the business. For example, improving product offerings, growing existing business units, diversifying the business and so on. Collaborate With the Rest of the Organisation As clarified above, the CFO must act as a trusted business partner to other C-Suite executives or leaders within the business. But the finance department needs to communicate this across other departments and throughout the wider business. This ensures everyone has the information they need to understand the decisions taken and the reasoning behind them. Research shows an overwhelming majority of 88% agree that the CFO has a substantial role to play in supporting operations across businesses. To achieve this, concise and transparent communication is a must. Performance and productivity is everyone’s concern, even if it is led by finance. Working with departments such as IT, sales, marketing and R&D to identify areas where performance can be improved ensures it is a common goal for everyone across the business to work towards. Finance should present data in an accessible way with the relevant context necessary for departments to have the most comprehensive understanding possible. New technologies with real time data available on interactive dashboards can be helpful in aiding these transparent communications between finance and other departments. Looking to the Future From this research, it is clear the change of finance function from accounting to business performance is already underway for many businesses. For businesses that hope to remain competitive, it is imperative that finance is utilised to drive business performance through data-driven decisions. CFOs play a key role in implementing these changes and guiding businesses into a more productive and profitable future. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Sustaining Success: A Roadmap Through the 5 Essential Stages of a Sustainability Action Plan In our comprehensive guide, explore the fundamental steps to develop a robust Sustainability Action Plan. Learn how to navigate the 5 key stages, paving the way for a sustainable future for your organisation Creating a Sustainability Action Plan is a vital step for businesses and organisations aiming to address environmental, social, and economic sustainability challenges. Such a plan provides a structured approach to embed sustainable practices into daily operations, reduce environmental impact, improve social responsibility, and enhance long-term viability. The process can be divided into five key stages, each of which plays a crucial role in the development and execution of a successful Sustainability Action Plan. Stage 1: Preparing for Sustainability Integration Before diving into the details of a Sustainability Action Plan, it is essential to prepare the groundwork and establish the context for sustainability within the organisation. This stage involves the following key steps: Leadership Commitment: The first step is securing commitment from senior leadership, including the CEO and top management. Their buy-in is essential for allocating resources and making sustainability a core part of the organisation's mission. Stakeholder Engagement: Identify key stakeholders, both internal and external, who will be affected by or influence the organisation's sustainability efforts. This can include employees, customers, suppliers, regulatory bodies, and community groups. Baseline Assessment: Conduct a thorough review of the organisation's current sustainability performance. This involves gathering data on energy use, waste generation, water consumption, emissions, social impact, and other relevant metrics. The baseline assessment provides a benchmark against which progress can be measured. Setting Clear Objectives: Define specific, measurable, achievable, relevant, and time-bound (SMART) sustainability objectives. These goals should align with the organisation's mission and values, and they may cover areas such as reducing carbon emissions, minimising waste, or enhancing diversity and inclusion. Compliance and Regulatory Review: Ensure that the organisation understands and complies with relevant environmental, social, and governance (ESG) regulations and standards. This includes staying up-to-date with changing requirements and anticipating future developments. Stage 2: Goal Setting and Strategy Development Once the groundwork is established, the next stage involves setting clear sustainability goals and developing a comprehensive strategy for achieving them. This stage includes the following steps: Defining Priorities: Determine which sustainability issues are most critical for the organisation, considering factors like impact, relevance to stakeholders, and alignment with corporate values. Goal Alignment: Align sustainability goals with the organisation's broader mission and values. Ensure that these goals are integrated into the corporate strategy and culture. SWOT Analysis : Perform a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis to identify internal strengths and weaknesses related to sustainability, as well as external opportunities and threats that may affect sustainability efforts. Strategy Development: Develop a comprehensive sustainability strategy that outlines the specific initiatives and actions needed to achieve the established goals. This strategy may encompass areas like energy efficiency, sustainable sourcing, waste reduction, social responsibility, and more. Resource Allocation: Determine the financial, human, and technological resources required to execute the sustainability initiatives. Budget allocation is a critical component of this step. Stage 3: Implementation and Integration With a clear strategy in place, it's time to put it into action. This stage is marked by the actual implementation of sustainability initiatives across the organisation, and it involves the following key actions: Project Planning: Develop detailed project plans for each sustainability initiative. These plans should include timelines, responsibilities, and performance indicators. Employee Training and Engagement: Educate employees at all levels about sustainability practices and their roles in achieving the organisation's goals. Encourage active participation and commitment to sustainability efforts. Supplier Engagement: Work with suppliers to encourage sustainable sourcing and responsible business practices throughout the supply chain. This may involve setting sustainability criteria for suppliers and conducting audits. Technology and Infrastructure Updates: Implement technology and infrastructure changes, such as energy-efficient systems, waste management solutions, and renewable energy sources, to support sustainability initiatives. Monitoring and Reporting: Develop systems for ongoing monitoring and data collection to track progress. Regular reporting to both internal and external stakeholders is essential to maintain transparency. Stage 4: Evaluation and Continuous Improvement Sustainability is an ongoing journey, and organisations must continuously evaluate their efforts and make improvements. This stage involves the following key steps: Key Performance Indicators (KPIs): Establish KPIs to measure the effectiveness of sustainability initiatives. These metrics should be aligned with the SMART objectives set in the earlier stages. Data Analysis: Regularly analyse the data collected to assess the organisation's performance against established benchmarks and KPIs. Identify areas where goals are not being met or where improvements can be made. Feedback Loops: Create mechanisms for gathering feedback from employees, customers, and other stakeholders. This input can provide valuable insights and drive continuous improvement. Adaptation and Optimisation: Use the data and feedback to adapt and optimise sustainability initiatives. Modify strategies, set new targets, and reallocate resources as needed. Communication and Recognition: Share achievements and progress with stakeholders, internally and externally. Recognise and celebrate successes to motivate further engagement. Stage 5: Reporting and Transparency The final stage involves reporting on sustainability performance and ensuring transparency with stakeholders. This includes the following actions: Sustainability Reporting: Prepare regular sustainability reports that detail the organisation's performance against its goals and KPIs. These reports often follow global reporting frameworks like the Global Reporting Initiative (GRI) or the Sustainability Accounting Standards Board (SASB). Stakeholder Engagement: Share the sustainability report with key stakeholders and engage in open dialogue with them to address concerns, receive feedback, and demonstrate accountability. External Recognition: Seek external recognition and certifications related to sustainability achievements. These recognitions, such as B Corp certification or ISO 14001, can boost the organisation's reputation and credibility. Continuous Learning: Stay informed about evolving sustainability trends, best practices, and emerging regulations. Adapt the Sustainability Action Plan to reflect these changes. Public Disclosure: Consider public disclosure of the sustainability report, either through your organisation's website, social media, or industry-specific platforms. Transparency demonstrates a commitment to accountability. In summary, creating a Sustainability Action Plan involves a structured approach with five key stages: preparing for sustainability integration, setting goals and developing a strategy, implementing and integrating sustainability initiatives, evaluating and continuously improving, and reporting and ensuring transparency. This process is not static but requires ongoing commitment, adaptability, and engagement with stakeholders to drive meaningful and lasting change toward a sustainable future. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Use a Business Agility Assessment To Improve Productivity Improved business agility allows you to achieve flexibility, balance and coordination so that you can identify opportunities as a leader in a changing market. Productivity is the engine of your business. Gain the power to adapt rapidly and efficiently to changes in the market and get ahead in today’s increasingly dynamic business environment. Superior business agility enables you to develop your processes, systems, products and services in line with the current business environment to optimise your overall performance and profitability. Improved business agility enables you to adapt rapidly and cost-effectively in response to changing consumer demands and emerging market trends. An agile approach to your business will help you to adapt and maximise your assets and human resources according to the evolving demands of your sector. Why Use a Business Agility Assessment? A Business Agility Assessment is a strategic imperative for modern businesses. In an era of rapid change and unpredictability, it provides several compelling reasons for adoption: Adaptation to Change : It equips businesses with the tools to swiftly adapt to market shifts, technological advancements, and unforeseen disruptions, ensuring resilience and continuity. Efficiency and Cost Reduction : By identifying operational bottlenecks and inefficiencies, it streamlines processes, optimises resource allocation, and reduces operational costs, directly impacting the bottom line. Competitive Edge : The insights gained enable businesses to stay ahead of competitors, innovate proactively, and seize emerging opportunities in the marketplace. Talent Retention : It helps in creating a culture of learning and adaptability, enhancing employee engagement, and reducing turnover. Customer-Centricity : By fostering agility, organisations can better meet evolving customer demands, enhancing satisfaction and loyalty. Strategic Decision-Making : It provides data-driven insights that enable informed decision-making, aligning strategies with market dynamics. Resilience : It builds organisational resilience, ensuring the ability to weather crises and emerge stronger. Sustainability : By optimising operations, it contributes to sustainability goals by reducing waste and resource consumption. Regulatory Compliance : It assists in staying compliant with evolving regulations through adaptable processes. A Business Agility Assessment is a cornerstone for businesses seeking long-term viability, growth, and the ability to thrive in an ever-changing business landscape. It's an investment in agility, innovation, and competitive advantage. Business Agility Introduction In the dynamic landscape of contemporary organisations, the imperative for all industries is unequivocal: the imperative to not only amass and act upon information but to do so with alacrity, rendering decisions swiftly and implementing change deftly to keep pace with the relentless evolution of customer demands and the capricious contours of the business environment. This indispensable capacity is commonly christened as "agility." At the very core of the REM5 philosophy lies the bedrock upon which agility thrives. Agility, however, isn't merely a buzzword; it's an ethos, an art, and a science. It embodies the proactive quest for novel insights and the wholehearted embrace of unceasing transformation, all within the framework of collaborative synergy that shuns the shackles of resistance, bias, or ill-will. Yet, like any grand endeavour, the path to organisational agility is fraught with potential impediments. The labyrinthine corridors of bureaucracy, which lumberingly hinder processes, the intricate web of internal politics that extends the timeline of decision-making, the silos that cloak the origins of predicaments and foster an aura of proprietary control, and the chasm of trust deficiency that renders effective communication a Herculean task—these are but a sampling of the formidable barriers that beset the journey. In this intricate ballet of modern business, mastery of agility is not a discretionary pursuit; it's a necessity. As we delve deeper into the very essence of agility, we embark on a quest to decipher the strategies and solutions that can surmount these formidable barricades, ushering in an era of heightened organisational responsiveness and nimbleness. For, in the pages that follow, we shall unveil the intricate tapestry of agility, exploring the means by which organisations can transcend these challenges and ascend to new heights of adaptability and success. There are many things that can inhibit an organisation’s ability to be agile: bureaucracy that slows down processes, internal politics that prolong decision-making, silos that obfuscate the root causes of problems and ownership of solutions, and a lack of trust that makes communication difficult, to name just a few. When these barriers to agility exist, the fix isn’t simple, but neither is it insurmountable. What is an Agile Organisation? In the ever-evolving landscape of modern business, the clarion call for agility resounds louder than ever. Yet, achieving true agility isn't merely a matter of employing cutting-edge tools and streamlined processes, although these are indispensable components of the equation. At its core, it's a symphony orchestrated by the harmony of technology's capabilities and the resonant chords of precise data. Organisations on the path to agility must be proactive in their quest. It's about posing not just any questions but the right ones, about casting a wide net to gather, generously sharing, and methodically scrutinising information – the very heartbeat that quickens the pace of change. However, a stark truth emerges: no amount of data, no matter how vast, can serve as a magic wand to bestow agility if there exists no genuine desire to heed its insights. It's here that the interplay of confidence and courage assumes centre stage. The reluctance to listen often stems from a dearth of self-assuredness. Thus, the journey to agility necessitates more than just brilliant minds and pristine data sets. It calls for a dynamic fusion of resilience, social acumen, and an unwavering capacity for action. These elements must harmoniously coalesce around a crystalline organisational purpose, the magnetic force guiding every endeavour. In the pages that follow, we will embark on a voyage to unearth the essence of agility. It's not a destination but a dynamic state of being. It's about more than numbers; it's about the art of truly listening to the whispers of data and the cadence of an organisation's soul. It's about the fusion of human intellect, technological prowess, and an unyielding sense of purpose that forges the bedrock upon which agility is built. Join us as we explore this transformative journey, where the future belongs to those who can master the art of becoming agile. Purpose First In agile organisations, the expectation is to operate within an environment where the future course isn't etched in stone; it's a tacit understanding that new information might necessitate course corrections at any given moment. A customer-centric mission serves as the guiding compass, enabling employees to navigate toward their ultimate objectives, even when the journey takes unforeseen twists and turns. A resolute dedication to delivering value to the customer serves as the true north for every member of the organisation and bolsters agility in numerous way. Change is Vital to Business Agility Improved business agility allows you to achieve optimal flexibility, balance, adaptability and coordination so that you can identify opportunities and reposition your company as a leader in the changing market. This will, in turn allows you to take advantage of maximised productivity. By harnessing the power of visitor value, the often unpredictable business environment can now be seen as an asset, providing much scope for converting your most valuable visitors. Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

10 Tips To Deliver Great Customer Service Learn how to deliver great customer service, every single time, with our 10 top tips from the business productivity experts Awardaroo. Find out more today. 10 Tips To Deliver Great Customer Service Gain a competitive edge with an exceptional customer service strategy. Set your business apart from the rest and exceed the expectations of even your most discerning and knowledgeable customers with a proven customer service strategy . These ten steps will help you develop and implement a customer service strategy of the highest standard, one that will help you to increase visitor conversion rates too. It will also improve long term customer acquisition, retention and loyalty through delivering great customer service, every time. 1. Determine your customers’ needs Using specially designed market research surveys you can gain access to perhaps the most valuable information to your customer service operation. By asking the right questions and listening carefully you can find out exactly what it is your customers want, what they don’t and what is important to them – directly from them 2. Evaluate your current service offering It is vital to benchmark your present customer service level so that you have a starting point to work from. By understanding where you currently are and where you need to be, you can establish the correct mind set and a target to move toward. 3. Establish performance standards At this point it is important to generate ideas that can be used to help your company move towards the ultimate goal. These performance standards should be based on what your customers want, as identified in step one 4. Remember that every contact with a customer counts Your customer service strategy is only as good as the contact a customer has with your business. Each time a customer deals with your company the experience will lead them to form an opinion about your business and the quality of the products or services being sold. Remember one bad experience can undo a lot of good work. 5. Manage your business through the eyes of your customer Without customers your business ceases to exist. It therefore makes sense to manage it with their needs in mind at all times. As the manager of your organisation, it may be useful to view your role as being the customers’ representative and consider how this affects your decisions. 6. Reinforce the team culture One of the greatest keys to success are the systems you put in place to involve and lead your team members. These are often the people who have the most contact with your customers. How your staff feel and how they are treated will typically determine how they treat your customers. 7. Empower your staff Give staff the tools to perform their assigned tasks and be clear about what is expected of them as part of your customer service strategy. That way, you can ensure consistent quality output that meets and often exceeds acceptable standards. 8. Implement a feedback system Feedback is a two way process that is critical to developing effective communication channels and understanding. Firstly, there needs to be feedback between the management and the staff to ensure satisfaction and performance standards are being met. Feedback from the customer is equally important to maintain a fresh perspective on the level of customer service being received. 9. Establish a culture of continuous improvement Pay attention to the feedback received from customers! Here you then have the tools for continually improving your strategy to achieve a best in class customer support service that gives you a competitive edge. 10. Remain dedicated to the project Whether in the first stages of implementing a new customer service strategy or further down the line with a strategy already in place, it is vital that you stay committed and get thoroughly involved in the project at all times if you are to realise a maximum return on investment. Providing an outstanding customer service experience can put clear water between you and your competitors and keep your customers coming back for more! Give your customers what they want by getting to understand them and their needs! Previous Next Unlock Triple Bottom Line Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED