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What is a Goal Setting Framework? Setting goals is crucial because it enables you to concentrate your time and efforts on the things that are important to you. It assists you in determining your goals and developing a strategy to attain them. Published on: 12 Mar 2024 Goal Setting Framework – Definition and Importance Setting goals entails choosing what you want to accomplish and creating quantifiable targets and timeframes to support that goal. Setting goals is crucial because it enables you to concentrate your time and efforts on the things that are important to you. It assists you in determining your goals and developing a strategy to attain them. Additionally, it aids with motivation and progress measurement. You can raise your chances of success and enhance your general wellbeing by creating goals. Goal Setting Frameworks explain how goals should be set and how they should be accomplished in a step-by-step manner. It involves setting milestones for ourselves by developing strategies to help us keep true to our goals. When used in the workplace, it can increase employee engagement, provide clear guidelines, enhance performance and encourage continuous improvement. “Goals are the fuel in the furnace of achievement.” – Brian Tracy Short Background on Goal Setting A 1935 study by Cecil Alec Mace, which was discussed in Ryan and Smith’s Industrial Psychology textbook and later in Ryan, served as the inspiration for goal-setting. Mace investigated how various assigned performance goals affected task performance. Midway through the 1960s, Edwin A. Locke started exploring goal setting. He worked on the topic for more than 30 years. He discovered that people who set precise, challenging goals outperformed people who set broad, simple goals. Locke borrowed Aristotle’s concept of final causality as the inspiration for goal-setting. Meanwhile, Peter Drucker, a management guru, introduced “management by objectives” in 1954. Under this strategy, employees and their boss would agree on a set of goals and work to achieve them throughout the year. Locke and Latham’s Goal Setting Theory In their efforts to research goal-setting, Locke and Latham worked both individually and jointly. Locke published their findings in 1968. These results demonstrated that people are motivated by both sensible goals and positive feedback. Later, Latham reported further findings that supported Locke’s findings. Later, Locke and Latham worked together on the subject. Their well-known work, “A Theory of Goal Setting and Task Performance,” was released in 1990. They described Locke and Latham’s goal-setting theory and their five guiding principles in this book. The five guiding principles for goal setting are as follows: 1. Clarity – The goal needs to be clear, specific, and well-defined. 2. Challenge – Goals need to be challenging to be motivating. 3. Commitment – Commitment to goals keeps you focused and is a key factor for success. 4. Feedback – Feedback improves confidence and motivation and encourages the completion of goals and objectives. 5. Task Complexity – Goals must be set at the right level of complexity. Complex tasks and objectives should have multiple goals. Goal Setting Frameworks Examined GROW Model The GROW model is a simple goal-setting framework that helps individuals set and achieve their goals. It was developed in the United Kingdom and has been used considerably from the late 1980s and 1990s in corporate coaching. GROW is an acronym that stands for: G – Goal R – Reality O – Obstacles / Options W – Way Forward An example we can use is with increase in sales as shown in the table below. Goal To triple my current daily sales in my food business. Reality Currently, my daily sales is S1000 Obstacles Options I do not offer delivery; no online ordering. Check local drivers I can partner with; see about setting up a website or Facebook Page Way Forward Contact drivers to deal with delivery. Set-up Facebook Page Set-up Facebook Ads OKRs The Management by Objectives philosophy popularized by Peter Drucker is the foundation of the goals-based structure known as Objectives and Key Results, or OKRs. Andy Grove, who was the CEO of Intel at the time, developed the idea by including a vital results component in the 1970s. The theory was that by connecting objectives to quantifiable key performance indicators (KPIs), individuals would be held responsible for tracking and achieving their objectives. As the name implies, developing an OKR begins with determining your main objective, then the key results you’ll use to gauge your performance. It can be done using this simple template: “I will (objective) as measured by (key result).” Using the earlier example in the OKR template, it can be written in this manner: “I will make S3000 daily sales within 3 months by making $1000 off food deliveries and making $1000 from new customers Facebook Ads.” SMART Goals The SMART goal framework was conceptualized by George Doran in 1981 with its easy-to-remember acronym: S – Specific M – Measurable A – Attainable R – Relevant T – Timely or Time-bound Using the previous example of weight loss, here are the SMART Goals Specific Triple my daily sales in my food business Measurable Make $ 3000 daily sales by adding food delivery and driving new customers using Facebook Ads Attainable Contact drivers who can deliver; study Facebook Ads and managing Facebook Page Relevant Increase sales can mean I can expand my kitchen. Timely or Time-bound Achieve this goal in 6 months MBO MBO is a goal-setting framework that Peter Drucker made popular with his book in the 1950s. It entails establishing particular, quantifiable objectives for people or teams, followed by routinely monitoring progress and offering feedback. MBO goals are frequently centered on medium- to short-term objectives, paying close attention to the team’s goals and creating a coherent plan around them. The manager and their teams agree upon the goals under MBOs, enabling time for the exchange of input and suggestions at the start of the process. Finding the team’s goals is the first step in the process. Additionally, the manager delegated tasks and made sure that everyone was encouraged and supported. BHAGs BHAG (Big Hairy Audacious Goals) is a goal-setting framework that is designed to help individuals and businesses set ambitious goals. The term was first coined in 1994 by Jim Collins and Jerry Porras in their book “Built to Last: Successful Habits of Visionary Companies.” BHAGs are organization-sized stretch goals that are nearly impossible to complete but can drive companies and organizations to think big and create long-term success. BHAGs can be categorized into four groups: · Role Model – model after a successful and well-known company · Common Economy – overcome industry leaders so you become the leader · Targeting – setting a clearly defined objective, such as becoming a Fortune 500 company · Internal Transformation – used by large, established companies to restructure their systems, processed or positioning. BSQ This acronym stands for “think Big, act Small, move Quickly.” Using this framework, large objectives are planned by achieving small achievements that lead quickly to the goal. Setting goals is using the BSQ framework is quite simple because it involves only three things: · Set a goal for yourself. (Think Big) · Establish a timeline of smaller accomplishments to achieve. (Act Small) · Set a manageable deadline. (Move quickly) Conclusion The secret to success is to consistently work for your goals. It’s a system for defining goals that enables you to prioritize your objectives in order to accomplish them and maintain your progress. Goal-setting frameworks might be complicated tools at times, but they can help you organize your objectives and generate creative goal-setting ideas. These goal-setting frameworks can assist team managers in coming up with creative concepts for generating goals that their team members will love. “What you get by achieving your goals is not as important as what you become by achieving your goals.” – Michelangelo Buonarroti, Renaissance artist Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

What is Permaculture? Permaculture is a design philosophy and approach that aims to create sustainable, productive, and regenerative systems that work harmoniously with nature. The term "permaculture is a combination of the words "permanent" and "agriculture" or "culture." However, permaculture is not limited to agriculture alone and encompasses a broader range of applications, including land use, community development, economics, and lifestyle choices. The history of permaculture The story of permaculture begins with the collaboration between Bill Mollison and David Holmgren in the 1970s. Both Mollison, an Australian biologist, and Holmgren, a graduate student at the time, were concerned about the environmental degradation caused by industrialised agriculture and the unsustainability of modern lifestyles. Their shared interest in finding sustainable solutions led them to develop the concept of permaculture. However, the concept extended beyond agriculture alone and encompassed a holistic design approach that could be applied to various aspects of human systems. In 1978, Bill Mollison and David Holmgren published the book "Permaculture One ," which introduced the core principles and ethics of permaculture. This publication marked the official beginning of permaculture as a defined discipline. Inspired by indigenous land management practices, traditional farming methods, and ecological systems, Mollison and Holmgren sought to create a design system that emulated the patterns and resilience of natural ecosystems. They recognised that by observing and working with nature's principles, it was possible to create productive and sustainable human systems. Permaculture gained wider recognition through Mollison's teachings and the establishment of the Permaculture Institute in Tasmania, Australia. Mollison travelled extensively, teaching permaculture design courses and inspiring a growing community of practitioners around the world. His teachings and the practical application of permaculture principles contributed to its spread across different continents and climates. The publication of Mollison's book "Permaculture: A Designer's Manual" in 1988 further solidified permaculture as a comprehensive design methodology. The book provided a detailed guide to permaculture design, covering topics such as site analysis, soil management, water systems, energy systems, and social aspects. Over the years, permaculture has evolved and diversified, with practitioners adapting the principles and methods to suit various contexts and challenges. Permaculture designs have been applied to a wide range of settings, including urban gardens, rural farms, community projects, eco-villages, and regenerative land management. Today, permaculture inspires and empowers individuals and communities to create sustainable and regenerative systems. It has influenced sustainable agriculture, ecological design, community development, and alternative education. Permaculture principles and practices have become integral to the broader sustainability and resilience movements. The history of permaculture showcases the power of observation, collaboration, and creative problem-solving in designing systems that promote the well-being of both people and the planet. It emphasises the importance of working with nature, valuing diversity, and fostering resilient and self-sufficient communities. Permaculture is guided by three ethics: Earth Care: This ethic emphasises the importance of caring for the Earth and all living systems. It recognises that our well-being is interconnected with the health and vitality of the planet. Permaculture seeks to minimise harm to the environment, regenerate degraded landscapes, and promote biodiversity. People Care: People Care focuses on meeting the needs of individuals and communities in fair and equitable ways. It involves promoting social justice, providing for basic needs, and fostering supportive and resilient communities. Permaculture encourages self-reliance, local decision-making, and cooperation among people. Fair Share: Fair Share relates to the ethical distribution of resources and the principle of sharing surplus. It recognises that resources are finite and should be shared in an equitable manner. Permaculture promotes the idea of using resources wisely, reducing waste, and redistributing excess to meet the needs of others and contribute to the broader community. Permaculture design Permaculture design is the practical application of these ethics. It involves observing and mimicking the patterns and principles found in natural ecosystems to create integrated and efficient systems. Permaculture design principles provide guidance for designing sustainable systems, and some common principles include: Observation and Interaction: Careful observation of natural patterns and interactions is essential for effective design. Understanding the relationships between elements allows for better design decisions. Use and Value Renewable Resources and Services: Permaculture encourages the use of renewable resources such as solar energy, wind power, and natural materials. It also emphasises valuing and utilising ecosystem services provided by nature, such as pollination, water filtration, and nutrient cycling. Design for Diversity: Permaculture recognises the strength and resilience of diverse systems. Designing with diversity in mind increases stability, enhances ecosystem functions, and reduces vulnerability to pests and diseases. Apply Self-Regulation and Accept Feedback: Permaculture systems are designed to be self-regulating and adaptable. They respond to feedback from the environment and the people interacting with them, allowing for continuous improvement and adjustment. Integrate Rather than Segregate: Permaculture seeks to create functional connections and relationships between different elements within a system. By integrating elements, such as plants, animals, and structures, the overall efficiency and productivity of the system can be increased. Use Small-Scale, Slow Solutions: Permaculture often favors small-scale, decentralised systems that can be easily managed and adapted. It emphasises the importance of gradual, incremental changes rather than large-scale, rapid interventions. Value the Edge: Permaculture recognises that the edges and interfaces between different ecosystems or elements are often the most productive and diverse. Designing to maximise the utilisation of edges can increase overall system productivity. Permaculture can be applied to various contexts, including urban gardens, rural farms, community projects, and even personal lifestyles. It provides a framework for creating sustainable and resilient systems that meet human needs while enhancing ecosystem health and biodiversity. Permaculture design techniques and strategies Permaculture design incorporates a wide range of techniques and strategies, including: Designing for multiple functions: Elements in a permaculture system should serve multiple purposes to maximise efficiency and productivity. For example, a tree can provide shade, produce fruits, improve soil quality, and act as a windbreak. Building soil fertility: Permaculture emphasises the importance of healthy soil as the foundation of a productive system. Techniques such as composting, mulching, and cover cropping are used to improve soil structure, fertility, and water-holding capacity. Water management: Permaculture design aims to capture, store, and efficiently use water on-site. Techniques like rainwater harvesting, swales (contour trenches), and the use of ponds or tanks help conserve water, prevent erosion, and support plant growth. Integrating diversity: Permaculture systems promote biodiversity by incorporating a variety of plants, animals, and microorganisms. Diversity increases ecosystem resilience, reduces pest and disease pressures, and improves overall productivity. Using renewable resources: Permaculture emphasises the use of renewable resources and minimising waste. Renewable energy systems like solar panels and wind turbines are often integrated into permaculture designs, and waste products are recycled or repurposed. Designing for energy efficiency: Permaculture designs aim to minimise energy inputs by optimising the placement of elements and utilising passive solar design principles. This includes designing buildings to maximise natural light and heat, and using energy-efficient technologies. Creating beneficial relationships: Permaculture design encourages the creation of mutually beneficial relationships between elements in the system. For example, planting nitrogen-fixing plants near crops that require nitrogen, or using companion planting to enhance pest control. Zones and sectors: Permaculture designs often utilise zoning and sector planning to strategically locate elements based on their frequency of use and energy requirements. Elements requiring frequent attention are placed closer to the center of activity, while low-maintenance elements are placed further away. Permaculture design can be applied to various scales, from small backyard gardens to large-scale agricultural systems. It seeks to create sustainable, productive, and resilient systems that work in harmony with nature while meeting the needs of people and communities. The permaculture design process The permaculture design process follows a systematic approach to create sustainable and regenerative systems. While different designers may have variations in their process, the following steps provide a general framework for designing using permaculture principles: 1. Define the Goals and Objectives: Begin by clearly defining the goals and objectives of the design project. Consider the needs and desires of the individuals or community involved, as well as the environmental and social context. 2. Site Analysis and Assessment: Conduct a thorough analysis of the site where the design will be implemented. Observe and document the existing natural features, climate patterns, water sources, soil conditions, microclimates, and available resources. This analysis helps in understanding the site's potential and limitations. 3. Design Conceptualisation: Based on the site analysis, develop a design concept that integrates the goals and objectives with the site's characteristics. Consider elements such as water management, energy flows, zones, and sectors. Use principles such as functional interconnection, stacking, and efficiency to guide the design. 4. Design Elements and Placement: Identify and select specific elements to be included in the design, such as plants, animals, structures, and infrastructure. Consider their functions, interactions, and relationships within the system. Use tools like zone planning and sector analysis to determine the optimal placement of elements based on their requirements and human use. 5. Integration and Synergy: Seek opportunities for integration and synergy among design elements. Look for ways to create mutually beneficial relationships and interactions, such as using plants to provide shade, windbreaks, or nitrogen fixation for other plants. 6. Implementation Strategies: Develop a plan for implementing the design, considering factors like available resources, budget, and timeline. Determine the sequence of implementation, considering dependencies and priorities. Break down larger tasks into smaller achievable steps. 7. Monitoring and Evaluation: Continuously monitor the implemented design to assess its performance and adjust as needed. Evaluate the effectiveness of the design in meeting the established goals and objectives. Collect feedback from stakeholders and learn from the successes and challenges encountered during implementation. 8. Iteration and Adaptation: Permaculture design is an iterative process that allows for continuous learning and adaptation. Use the feedback and insights gained from monitoring and evaluation to refine and improve the design over time. Embrace a flexible and evolving approach as the system matures and changes. It's important to note that the permaculture design process is not necessarily linear, and different steps may overlap or be revisited as the design evolves. It encourages a holistic and creative approach that takes into account the unique characteristics of each site and the needs of the people involved. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Financial Reporting Council Impose Tougher Standards for Ethical Funds The Financial Reporting Council (FRC) has revised its Stewardship Code to impose tougher standards on ethical funds, resulting in many fund managers missing out. The Financial Reporting Council (FRC) has revised its Stewardship Code to impose tougher standards on ethical funds, resulting in many fund managers missing out as signatories. The FRC is the main watchdog for the audit and accounting industry. Its Stewardship Code is the industry benchmark that sets the standards for insurers, asset managers and pension schemes on behalf of Britain's savers. Prior to the changes, fund managers had to provide the FRC with a statement about their stewardship and little more. However, this year the FRC has required fund managers to provide more detailed evidence of how their actions complied with industry standards. The industry standards of stewardship are currently defined as "the responsible allocation, management and oversight of capital to create long-term value for clients and beneficiaries leading to sustainable benefits for the economy, the environment and society. " The changes come as the FRC identified a need to improve the quality of reporting as too many firms were releasing "boiler plate" statements with little action behind them. Many businesses have been accused of similar statements in regard to ESG (environmental, social and governance) statements, commitments and reporting. As investors and consumers continue to prioritise companies that do better for the planet and people, quality ESG reporting has become an ever more pressing issue for businesses that wish to remain competitive. The tougher standards introduced by the FRC have meant a number of top asset managers have failed to become signatories to the revised code for the first time. This includes Schroders, one of the UK's largest asset managers, alongside other large firms such as T Rowe Price, Allianz Global Investors and Columbia Threadneedle. In fact, overall 64 firms of the 189 who applied were unsuccessful. The Chief Executive of the FRC, Sir Jon Thompson, said : "This list demonstrates our continued commitment to serve the public interest as we transform to becoming a new regulator. We are proud of our robust approach to assessment and encourage those who have been unsuccessful to reflect on our feedback and apply again in future." The shift in industry standards represents a wider shift towards ESG investing worldwide. According to the Investment Association, the amount of money going into ESG funds in 2020 is four times the amount invested in 2019. The change serves to show the importance of staying up to date with new consumer and investor expectations. Both the FRC and SEC (US Securities and Exchange Commission ) state they will be bringing in further regulations and changes to encourage more sustainable investment in the future. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

30 Game-Changing Ways to Improve Your Time Management Skills Discover 30 game-changing strategies to boost time management and productivity. From task prioritisation to time-blocking, take control of your day with proven tips. Published on: 22 Feb 2024 Time management is more than just organising your tasks; it’s about creating balance and finding a rhythm that supports both your professional and personal life. With these 30 game-changing time management tips, you’ll not only feel more in control at work and home, but you'll also foster a healthier work-life balance, leading to improved mental health and physical wellbeing. The challenge with time management is that we often find ourselves managing other people’s expectations, agendas, and priorities instead of our own. It’s easy for good intentions to fade, as we revert to reacting to urgent demands rather than focusing on what truly matters. Another common obstacle is that time management can feel like just one more task to add to an already packed schedule. When we're already stretched thin, thinking about how to better manage time can feel overwhelming. Then there’s the struggle with planning and commitment. We often avoid planning too far ahead because of the unpredictability of life, and this uncertainty can derail even our best intentions. Finally, many of us plan our time around external rewards—money, success, or acquiring more—rather than what nurtures our inner selves, like meaningful conversations, relationships, and creativity. When time is only framed around external gains, it’s no wonder we fall back into old habits and reactive behaviours. As Emma Donaldson-Feilder, a chartered occupational psychologist for the NHS, wisely states, “The aim of good time management is to achieve the lifestyle balance you want.” These 30 tips will help you align your time with what truly matters, so you can break free from reactive habits and create a more fulfilling life How Are Organisational Design and Time Management Related? Organisational design and time management are deeply intertwined, influencing the overall efficiency and effectiveness of an organisation. A well-structured organisational design clarifies roles, sets priorities, streamlines communication, and supports quick decision-making, all of which contribute to better time management. On the other hand, a poorly designed structure can create confusion, inefficiencies, and time management challenges. Here’s how these two elements are interconnected: Role Clarification : Organisational design defines roles, responsibilities, and reporting structures, giving employees a clear understanding of their duties. When roles are well-defined, time is managed more effectively as employees focus on their assigned tasks, minimising ambiguity and reducing time wasted on unclear responsibilities. Prioritisation : Time management depends on setting priorities, and organisational design helps establish those priorities through hierarchies, goals, and resource allocation. This clarity allows individuals to understand the significance of their tasks, enabling them to allocate their time more effectively. Communication and Coordination : Efficient communication is essential for managing time well, and organisational design shapes how information flows. Clear lines of communication and reporting structures reduce delays and misunderstandings, ensuring tasks are completed on time and improving overall productivity. Time Allocation : Organisational design impacts how employees distribute their time across tasks. In hierarchical structures, clear reporting lines help employees focus on their primary responsibilities. In flatter or matrix structures, employees often juggle multiple roles, making time management crucial to balancing competing priorities effectively. Decision-Making : The speed and efficiency of decision-making processes directly affect time management. In centralised organisations, decisions may be delayed due to top-down authority, slowing time-sensitive tasks. In decentralised designs, faster decision-making at different levels allows for quicker responses and better time management. Flexibility and Adaptability : An adaptable organisational design is critical for managing time in a dynamic environment. Agile designs that encourage cross-functional collaboration and quick decision-making enable organisations to adjust time management strategies in response to shifting priorities or unexpected changes. The Productivity Benefits of Improving Time Management Skills Enhancing your time management skills brings a multitude of benefits that go far beyond simply getting more done. Here are some key ways in which mastering time management can transform your productivity and overall wellbeing: Better Sleep and Reduced Stress : When you have control over your time and know you’re working on the most important tasks, you’ll feel less stressed and conflicted. This sense of accomplishment and clarity reduces the anxiety that often keeps people awake at night, leading to better, deeper sleep and more energy for the next day. Improved Work-Life Balance : Effective time management helps you draw clear boundaries between work and personal life. By prioritising tasks and managing distractions, you can free up time for personal activities, hobbies, and relationships, improving both your mental health and overall wellbeing. Achieving Personal Goals : Time management allows you to focus on what matters to you , rather than constantly responding to other people’s demands. This helps you progress toward your own significant goals, whether in your career, personal development, or other areas of life. Greater Achievement of Significant Outcomes : With improved time management, you’re not just ticking off to-do lists—you’re focusing on high-impact tasks. This allows you to achieve results that are meaningful and significant by any measure, moving you closer to long-term success rather than simply completing minor tasks. Fewer Low-Priority Tasks : When you manage your time well, you’re less likely to become the go-to person for low-priority or inconvenient tasks that others want to delegate. You’ll develop the confidence to say no to tasks that don’t align with your priorities, protecting your time for what truly matters. Increased Self-Respect and Esteem : As you take control of your time, your self-respect and self-esteem will naturally grow. When others see that you’re focused, in control, and purposeful, their respect for you will also increase. You’ll be viewed as someone who knows their priorities and delivers on their commitments. New Opportunities and Organisational Skills : Good time management allows you to be more organised and proactive. This clarity opens doors to new opportunities—whether professional or personal—that you might not have had the time or energy to pursue otherwise. Being better organised makes you more agile and ready to seize opportunities as they arise. Moving Beyond SMART Goals : Advanced time management, like exponential time management, goes beyond the traditional framework of SMART goals. Instead of rigid goal-setting, it allows you to achieve inner peace by focusing on progress and balance throughout the day, reducing the pressure of constant deadlines and performance metrics. Less Wasted Time : When you’re in control of your schedule, you spend less time on distractions, procrastination, or low-value activities. This helps you to work more efficiently, leaving you with more time to focus on what truly matters, both at work and in your personal life. Freedom from the 'Busy' Trap : Many people equate being busy with being productive, but time management helps you break free from this trap. You’ll focus on outcomes rather than the amount of time spent working, helping you to be more effective and less focused on merely appearing busy. Enhanced Reputation : Consistently delivering on your promises builds a strong reputation. When you manage your time effectively, people will recognise you as someone who follows through, even when saying no is the more difficult but necessary option. Your ability to prioritise and stay focused will earn you greater respect and trust. Before diving into how to improve time management, it's essential to first understand why we want to improve it. We all manage our time in one way or another, but many do so without much planning—simply reacting to events as they unfold or following routines out of habit. In this reactive mode, life is like a sailboat adrift on the sea. You might enjoy the occasional view or survive a storm, but you’re not steering towards any particular destination, nor are you in control of what happens next. For some, this approach may be enough—no significant goals or aspirations, just going with the flow. But for most, the desire for less stress, fewer hassles, more inner peace, and a sense of accomplishment drives the need for better time management. By gaining control of our time, we can steer our lives towards a more intentional and fulfilling future. 30 Game-Changing Time Management Productivity Tips Forget the Plans – Just Start Contrary to popular belief, you don’t always need long-term plans or goals to get going. Start by increasing your awareness of what you’re doing and why. Are you saying “yes” when a “no” or “later” would be better? Sometimes the best way to start is to take that first step. Check Your Inner Peace How are you sleeping? Are you waking up early or feeling grouchy? Time management goes beyond tasks—it impacts your well-being. Conflicted time management can lead to stress, affecting your health and relationships. Identify Long-Term Priorities Reflect on what matters most in the long run. Will you regret not pursuing meaningful relationships, or are you more focused on material goals? Define your long-term priorities to guide daily decisions. You Can’t Do It All – Prioritise You don’t need to do everything. Prioritising tasks, ideally the night before, allows for a more restful sleep and a better sense of control the next day. Reduce Reactive Work How much of your day is spent reacting instead of planning? Examine the causes of reactive work and strategise to reduce it. This allows for more structured, planned work that yields higher productivity. Write Down Long-Term Goals Clearly define your goals for the next 5-10 years and work backward to identify steps to get there. This creates a mental filter for making daily decisions, helping you say “no” to distractions. Say “No” More Often Practice saying “no” to tasks that don’t align with your long-term goals. Do this diplomatically to avoid undermining important relationships. Create a ‘Done List’ Instead of a traditional to-do list, try a “Done List.” Focus on your accomplishments to stay motivated and build momentum. Avoid Being a Busy Fool Working hard on the wrong things is a productivity trap. Focus on meaningful outcomes rather than just staying busy. Check Your Inner Peace Again Periodically check in with your sense of inner peace. If you’re feeling conflicted or stressed, revisit your time management strategies and priorities. Build Confidence Through Action If you’re avoiding a task due to a lack of confidence, start it anyway. You’ll build skills and knowledge as you go, and progress will boost your confidence. Focus on Quality Over Quantity While perfectionism can be a trap, focusing on quality will make your work more enjoyable and efficient. This prevents repeating tasks due to poor performance. Earn Your Breaks Set milestones and work toward them. When you reach those points, reward yourself with a break, making it feel deserved and refreshing. Get Fresh Air and Eat Well Take care of your body with regular breaks, fresh air, and healthy meals. Avoid pre-packaged food when possible. Nutrition and movement are essential for sustained focus. Manage Your Emails Emails can be a huge time-sucker. Set dedicated times to check them, and prioritise responses based on importance. Filter out unnecessary emails to stay focused. Stay True to Your Values As you prioritise tasks, ensure they align with your core values. Time spent with loved ones may be more valuable than climbing the career ladder. Track Your Time Spend a few days tracking where your time goes. You might be surprised to see which tasks take up the most time, helping you adjust accordingly. Don’t Stress About Deviations Plans are essential, but life often throws curveballs. If you veer off course, replan without stressing. Adaptability is key to sustainable time management. Develop Critical Thinking Skills Strengthening critical thinking will help you make better decisions and organise tasks more effectively. Use the Eisenhower Matrix The Eisenhower Matrix helps you categorise tasks based on urgency and importance, ensuring you focus on what truly matters. Focus on One Task at a Time Multitasking is less efficient than focusing on one task at a time. Concentrating fully on a single task ensures higher quality and quicker completion. Apply the Pomodoro Technique Break work into 25-minute intervals with short breaks using the Pomodoro Technique. This method is effective for maintaining focus and productivity. Build in Buffers and Breaks Schedule breaks into your day to maintain concentration and energy. Reflect on your progress during these pauses. Create a Productive Environment Your environment plays a significant role in your focus and productivity. Eliminate distractions and organise your space for optimal efficiency. Plan Ahead At the end of each day, week, or month, plan for the next. This keeps you organised and provides a sense of control. Leverage Your Most Productive Time Identify your peak productivity hours and use them for your highest-priority tasks. You’ll achieve more when you work in sync with your natural energy levels. Apply the Pareto Principle (80/20 Rule) Focus on the 20% of tasks that yield 80% of the results. This helps you maximise productivity and focus on what truly matters. Block Out the Start of Each Day Dedicate the first part of your day to personal preparation, whether it’s exercise, breakfast, or reviewing your schedule. This sets the tone for the day ahead. Delegate Where Possible Consider which tasks can be delegated to others. This frees you to focus on higher-level tasks aligned with your long-term goals. Focus on Outcomes, Not Time Shift your mindset from “hours worked” to “results achieved.” This helps you prioritise effectiveness over simply being busy. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

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 Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Workflow Management Services Optimised business workflows are the backbone of a successful organisation. Our workflow management services are designed to help you drive efficiency, improve performance, and achieve sustainable growth. Our ethos is simple: efficiency comes first. By focusing on lean and streamlined workflows, we ensure your business can reduce costs, improve margins, and scale sustainably. Reduce costs, improve margins, and scale sustainably. Workflow Assessment & Optimisation We analyse your existing workflows, identify inefficiencies, and provide tailored solutions to streamline processes. Our expertise spans across operational, creative, and problem-solving workflows to ensure all aspects of your business are covered. Lean Workflow Implementation By incorporating Lean methodologies, we ensure your workflows minimise waste, reduce redundancy, and maximise output. This means faster project completion, better resource allocation, and a more agile team. We don’t just look at profits; we also focus on growing your people and creating a more sustainable planet. Our workflow solutions enhance business value while aligning with your long-term goals of environmental and social responsibility. Custom Workflow Automation Save time and resources with our automation services. We design and implement systems that handle repetitive tasks so your team can focus on more valuable activities, improving overall productivity. Our team uses data analysis to track the performance of your workflows, allowing us to identify bottlenecks and areas of improvement in real-time. We provide ongoing insights so you can make informed decisions about your operations. Workflow Integration Our team ensures that new workflow systems integrate seamlessly with your existing operations and technology, reducing downtime and facilitating a smooth transition. We know that no two businesses are alike. That’s why our workflow solutions are never one-size-fits-all. Every service is customised to meet the unique needs and goals of your business. ISO Workflow Assessment & Alignment We perform an in-depth analysis of your current workflows and align them with the relevant ISO standards, such as ISO 9001 for quality management or ISO 14001 for environmental management. Our team identifies gaps and helps you implement the necessary changes to achieve and maintain certification. Training & Support At Rostone Opex, we don’t just implement solutions—we empower your team to sustain and improve them. We provide thorough training on new workflows and offer continuous support to ensure long-term success. Whether you’re looking to optimise day-to-day operations, improve creative output, or solve complex business problems, our holistic approach ensures complete coverage across all aspects of your workflows. 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

7 Benefits of Reviewing Your Management Accounts Weekly Find out why you should be reviewing management accounts weekly and how it can benefit your business when it comes to productivity and profitability. Published on: 23 Aug 2018 Whilst not the only important purpose of a business, stewardship of the planet and people being others, profit is seen in the management of accounts along with potential risks to that profitability. It’s important to be familiar with these management accounts as they are used to make decisions of how to grow the business by allocating scare resource most wisely during the year. It will show you the cash position of the business, where the money is going each month and critical areas of the business and their performance. In the Annual Report, there are six key sections : The Directors Report The Auditors Report Profit and Loss Account Balance Sheet Cash Flow Statement Notes to the Accounts The Management Accounts help with the preparation of the Annual Report. The Management Accounts are there to help with: Management Planning Cost Control Performance Management The core of these accounts are the Profit and Loss Accounts, Balance Sheet and Cash Flow Statement. Notes to the accounts are important too. 7 Benefits of Reviewing Management Accounts Weekly: The bank balance may look good today, however the Management Accounts can help identify possible future problems caused by poor trading conditions, looming severe cash flow short falls can be predicted, poor margins identified, low sales figures and rising costs. An analysis of sales can be seen by product or service to help identify trends. Analysis of costs, where the money is going is important to ensure costs do not escalate. Tax planning. By knowing how much the company is making and when, taxes can be minimised, salaries and dividends paid appropriately. Comparing the P&L to the previous year will identify possible overspend, underspend and variances in revenues. Different departments and locations can be compared to identify trends and performance variations. Completing the Management Accounts in a timely way, periodically, reduces the chance of errors later, long after the transactions have completed. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

What is Carbon Capture and Storage (CCS)? Carbon capture and storage (CCS) is a process of capturing CO2 emissions from industrial sources, transporting it, and storing it underground. It helps mitigate climate change by reducing greenhouse gas concentrations. Carbon capture and storage (CCS), also known as carbon capture, utilisation, and storage (CCUS), is a process that involves capturing carbon dioxide (CO2) emissions from industrial processes and power plants, transporting it to a suitable storage location, and securely storing it underground or using it for other purposes. The process typically consists of three main steps: Capture: Carbon dioxide is captured from large-scale industrial sources, such as power plants or cement factories, before it is released into the atmosphere. Various technologies are employed for capturing CO2, including post-combustion capture (removing CO2 from flue gases), pre-combustion capture (separating CO2 before the combustion process), and oxy-fuel combustion (burning fossil fuels in pure oxygen to produce a concentrated CO2 stream). Transportation: Once the CO2 is captured, it needs to be transported to a suitable storage site. Typically, pipelines are used to transport the CO2 over long distances, similar to natural gas pipelines. Alternatively, it can be transported by ships or trucks in the form of compressed or liquefied CO2. Storage: The captured CO2 is stored underground in geological formations such as depleted oil and gas fields, saline aquifers, or deep coal seams. These formations provide secure and permanent storage for the CO2, preventing its release into the atmosphere. The CO2 is injected into the storage formations and stored deep underground, where it can be trapped and eventually mineralise over time. Carbon capture and storage is considered an important technology in efforts to mitigate climate change. By capturing and storing CO2 emissions, it helps reduce greenhouse gas concentrations in the atmosphere, thereby mitigating global warming. It can also be used in certain industrial processes to reduce emissions directly at the source. Additionally, the captured CO2 can be utilised in enhanced oil recovery (EOR) projects, where it is injected into oil fields to enhance oil extraction and store the CO2 simultaneously. However, it's worth noting that while carbon capture and storage has the potential to play a role in reducing CO2 emissions, it is not a standalone solution to climate change. It should be seen as a part of a broader strategy that includes transitioning to renewable energy sources, improving energy efficiency, and adopting sustainable practices in various sectors of the economy. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

Quick Guide to Business Process Management (BPM) A short, practical explanation of BPM and workflow management for improving business operations and sustainability. Quick Guide to Business Process Management (BPM): Boost Efficiency Business Process Management (BPM) is a systematic approach to improving an organisation’s workflows, making them more efficient, adaptable, and aligned with overall business objectives. BPM involves documenting, analysing, and continuously improving processes to reduce inefficiencies, enhance productivity, and deliver consistent outcomes. For small and medium-sized enterprises (SMEs), BPM can be transformative. Research suggests that only 4% of businesses actively measure and manage their processes , indicating a significant opportunity for improvement. By adopting BPM, companies can streamline operations, cut costs, and ensure scalability as the business grows. Why is BPM Important? Efficiency : BPM helps businesses streamline their operations by identifying inefficiencies and bottlenecks. Rostone Opex highlights the value of BPM in achieving operational excellence by driving profitability and sustainability through process optimisation. Consistency : A well-documented BPM framework ensures that processes are carried out consistently, minimising errors and variability, which is crucial for maintaining high quality across operations. Agility : BPM provides the flexibility needed to adapt quickly to market changes. By refining processes without disrupting daily operations, businesses can remain agile and competitive in an ever-evolving marketplace. Sustainability : Effective BPM can reduce a business’s environmental impact by optimising resource usage and reducing waste. Rostone Opex stresses that BPM is integral to balancing profitability and sustainability. How to Implement BPM Document Your Processes : Begin by mapping out your current workflows. Tools like Lucidchart or Microsoft Visio are useful for creating detailed process maps. Without this documentation, you're essentially guessing where improvements are needed. Analyse the Processes : Once your processes are mapped, evaluate where inefficiencies lie. Techniques such as time-and-motion studies or performance benchmarking can help identify opportunities for improvement. Automate Where Possible : Many repetitive tasks can be automated. Tools like Zapier and comprehensive business management systems (e.g., ERP software) allow companies to automate routine activities, giving employees more time for high-value tasks. Continuous Improvement : BPM is an ongoing initiative. Rostone Opex emphasises the importance of continuous improvement, where businesses must regularly reassess and optimise processes as they scale. The Role of Workflow Management in BPM Workflow management is an integral part of BPM, focusing specifically on how tasks move through different stages in a process. Effective workflow management can simplify complex operations, boost collaboration, and improve time management across teams. Rostone Opex offers Workflow Management Services to help businesses streamline and automate their workflows, leading to better resource allocation and faster, more efficient operations. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

How to Write a Small Business Sustainability Plan for Improved Profitability Writing a Small Business Sustainability Plan is crucial for improved profitability. Sustainability measures reduce operational costs, enhance brand reputation, and attract eco-conscious customers. It demonstrates forward-thinking, adapting to a changing market while fostering responsible business practices, ultimately resulting in long-term financial gains and resilience. In today's world, sustainability is not just a buzzword; it's a critical aspect of business success. Small businesses are no exception to this rule. Implementing sustainability practices not only helps protect our environment but can also significantly improve profitability. Crafting a small business sustainability plan is the first step towards achieving this dual goal. In this blog post, we'll guide you through the process of creating a sustainability plan with a primary focus on enhancing profitability. Define Your Sustainability Goals Before you can improve profitability through sustainability, you need to establish clear sustainability goals. Start by considering what sustainability means to your business. Is it reducing waste, conserving energy, sourcing eco-friendly materials, or all of the above? Your goals should be specific, measurable, achievable, relevant, and time-bound (SMART). Assess Your Current Environmental Impact An essential step in writing a sustainability plan is to evaluate your current environmental impact. This includes assessing your energy consumption, waste production, water usage, and carbon emissions. A sustainability audit can help identify areas where you can make improvements. Identify Cost-Saving Opportunities Once you've assessed your environmental impact, look for opportunities to reduce costs through sustainability. For example, investing in energy-efficient appliances or optimising your supply chain to reduce transportation costs can have a direct positive impact on your bottom line. Calculate ROI on Sustainability Investments Before making any sustainability investments, calculate the return on investment (ROI). Consider the upfront costs and the potential savings over time. Many sustainability initiatives require an initial investment, but they can lead to substantial long-term savings. Employee Engagement and Training Engage your employees in your sustainability efforts. Employees can provide valuable insights and support in implementing sustainability measures. Consider providing training to make them aware of the importance of sustainability and how they can contribute. Supplier Engagement Engaging with your suppliers is another crucial aspect of a sustainability plan. Work with your suppliers to source eco-friendly materials or products, reduce packaging waste, and streamline your supply chain. This can improve sustainability and reduce costs. Waste Reduction and Recycling Waste reduction is a key component of sustainability. Implement recycling programs and reduce waste by using sustainable packaging, composting, and reusing materials when possible. This not only benefits the environment but can also save on disposal costs. Energy Efficiency Improving energy efficiency can lead to significant cost savings. Upgrade lighting, heating, and cooling systems, and consider renewable energy sources like solar panels. Small changes can lead to a more sustainable operation and lower utility bills. Marketing Your Sustainability Initiatives Communicate your sustainability efforts to your customers. Consumers are increasingly choosing businesses that prioritise sustainability. Use your sustainability plan as a marketing tool to attract eco-conscious customers and differentiate yourself from competitors. Monitor and Adjust Your sustainability plan should be dynamic and subject to continuous improvement. Regularly monitor your progress and adjust your strategies as needed. You may discover new cost-saving opportunities or areas for further environmental improvement. Conclusion A well-crafted small business sustainability plan can enhance both your environmental footprint and your profitability. By setting clear sustainability goals, identifying cost-saving opportunities, engaging employees and suppliers, and continuously monitoring your progress, you can create a roadmap to sustainable success. In the process, you'll not only benefit the planet but also your bottom line. Embrace sustainability, and your small business will thrive in an increasingly eco-conscious marketplace. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

Why ISO 9001 Certification is Essential for Your Business Learn why ISO 9001 certification is vital for your business, enhancing credibility, efficiency, customer satisfaction, and opening new market opportunities in a competitive landscape. Published on: 1 Feb 2023 In today’s competitive global market, businesses are continually seeking ways to enhance their operations, satisfy customers, and gain a competitive edge. One effective method to achieve these goals is by obtaining ISO 9001 certification. But what exactly is ISO 9001, and why is it so crucial for your business? Let’s delve into the myriad reasons why ISO 9001 certification is essential for your organisation’s success. Understanding ISO 9001 ISO 9001 is an internationally recognised standard for quality management systems (QMS) . It provides a framework that organisations can use to ensure they consistently meet customer and regulatory requirements while striving to enhance customer satisfaction. The standard is based on several quality management principles, including a strong customer focus, the involvement of top management, a process-oriented approach, and continual improvement. Benefits of ISO 9001 Certification Enhanced Credibility and Reputation Achieving ISO 9001 certification signals to customers, stakeholders, and the market that your business is committed to quality. It demonstrates that your organisation adheres to internationally recognised quality management principles, thereby enhancing your credibility and reputation. Improved Customer Satisfaction ISO 9001 focuses on meeting customer needs and expectations. By implementing its guidelines, your business can deliver consistent quality products and services, leading to higher customer satisfaction and loyalty. Satisfied customers are more likely to return and recommend your business to others, fostering growth and stability. Operational Efficiency The ISO 9001 standard emphasises a process-oriented approach to management. This means identifying, understanding, and managing interrelated processes as a system contributes to your organisation’s efficiency and effectiveness. Streamlined processes reduce waste, minimise errors, and lead to better use of resources. Risk Management ISO 9001 requires businesses to adopt a proactive approach to identifying and addressing risks and opportunities. This systematic risk management helps prevent potential issues from becoming significant problems, thus safeguarding your business’s continuity and performance. Market Opportunities Many companies and government entities require their suppliers to be ISO 9001 certified. By obtaining this certification, your business can access new markets and opportunities that were previously out of reach. It can also be a deciding factor in winning contracts and partnerships. Employee Engagement and Productivity Engaging employees in the process of obtaining and maintaining ISO 9001 certification can improve their understanding of quality objectives and their role in achieving them. This involvement can lead to higher motivation, increased job satisfaction, and better overall productivity. Continuous Improvement One of the core principles of ISO 9001 is the commitment to continuous improvement. The certification process encourages businesses to constantly evaluate and enhance their processes, products, and services. This dedication to improvement helps your organisation stay competitive and responsive to market changes. Regulatory Compliance ISO 9001 helps ensure that your business complies with relevant laws and regulations. This not only reduces the risk of legal issues but also enhances your reputation with regulators, customers, and the public. Steps to Achieve ISO 9001 Certification Achieving ISO 9001 certification involves several key steps: Gap Analysis : Assess your current processes against the ISO 9001 requirements to identify areas for improvement. Planning : Develop a plan to address the gaps and implement necessary changes. Implementation : Execute the plan by modifying processes, training employees, and documenting procedures. Internal Audit : Conduct internal audits to ensure the changes are effective and meet ISO 9001 standards. Certification Audit : Engage an external certification body to perform an audit and verify compliance with ISO 9001. Conclusion ISO 9001 certification is more than just a badge of honour; it is a strategic tool that can drive your business towards excellence. By enhancing your credibility, improving customer satisfaction, boosting operational efficiency, and opening up new market opportunities, ISO 9001 certification can significantly contribute to your business's long-term success. Embracing the principles of this internationally recognised standard is a testament to your commitment to quality and continuous improvement, ensuring your business remains competitive and resilient in a dynamic marketplace. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

< Back Return on Net Assets (RONA) Understanding Return on Net Assets (RONA): Measuring Efficiency and Profitability 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. RONA = Net Income / Net Assets Suppose Company GHI has the following financial details: Net Income: $500,000 Net Assets (Total Assets - Total Liabilities): $2,500,000 To calculate RONA: Divide net income by net assets: 500,000 / 2,500,000 = 0.2 A RONA of 20% indicates that Company GHI generates a return of 20 cents for every dollar of net assets. This suggests efficient use of assets in generating profit. Profitability Ratio Previous Next

Matthew Unerman Food Waste Recovery Matthew Unerman Food Sustainability Manager Discusses Food Waste Recovery Food waste recovery refers to the process of reclaiming and repurposing food that would otherwise be discarded. It is a sustainable approach aimed at reducing the environmental and social impacts of food waste. Through various methods such as composting, anaerobic digestion, and food redistribution, food waste recovery helps minimise methane emissions from landfills and alleviates the strain on natural resources. MATTHEW And because retailers don't want empty shelves. They always have food there. They have way more food than anyone possibly buying. So this inevitably causes the accountability of that returned food waste from the retailer goes back to the producers or to the farmers PAUL Hello and welcome to Rethink What Matters, the podcast dedicated to aligning the economy, with the ecology and everyone for improved business performance, stronger families, and a greener, cooler climate. And today I'm joined by Matthew Unerman, Food Sustainability Manager at Compassion in World Farming. We're going to be discussing food waste recovery. Great stuff. Great stuff. And you know, I came to you through your Embrace the Waste TED Talk. Could you tell us a little bit about your journey then that brought you to embrace the waste? MATTHEW I'll give you two versions. I'll give you the one I told people and the BBC and whatnot when I had the interview. And then also the truth. PAUL Okay. We get the exclusive. Thank you. Thank you. MATTHEW The version that I tell was that I was at university, attended Durham University studying anthropology. And at that university, you've got a collegiate system. And most colleges, their first year students are catered for. And go, you know, you pay however many thousand at the start of the year, and you can get three meals per day. When you're a second or third or fourth year, you don't get that anymore. So, I was in college revising for my exams. At the end of lunch, I see this huge amount of food waste being thrown into the bin and this ignites a fire in me. And I know I have to take action to solve the issue. Now, this is what I'll tell you - the truth. Most-- All of that was true. The key thing was, when I was a second year, I wanted some free lunch. So I went to the end of lunch a saw all of this extra food and I said, look, you know, can I have some of these chips that no one's eating then? And they said no, and in front of me, put it in the bin. So at that point, I was hungry and angry. So that's what I thought, right, let me take some action. So I went home that day. I drew on a little bit of cardboard I had, messaged all my friends. I said, guys, we need to protest. This is ridiculous. There's an abundance of food, students are hungry, it's a very expensive city to be in. And I said, come join me for a protest. So I rock up the next day with my placards, and no one joins me. So I sit down and I think five days, six, seven days, I was protesting every lunch. Getting some petitions, getting general support. No one sat with me, but I had the words of encouragement until the kitchen manager finally agreed to work with me to implement this initiative. For the final ten minutes of the meal second, third or fourth years could come pay a charitable donation and get food if there was food left over. PAUL Right. Okay. No. It's a huge thing. And so you started to research it more and you got more involved with it, I should imagine, and understanding the bigger wider impact of food waste. It's not just what we put in the bin, is it? I mean, it's a much bigger problem. It's much bigger problem than the chips that they throw in the bin in front of you. MATTHEW Exactly. Yes. Back then, when I thought I understood food waste, now being able to look back years later, and I'm sure in however many years I'll look back at myself now and think to say, you know, “How naive.” But having worked in sustainability and being a food waste consultant, co-chairing a B corporation food waste working group, I've come to understand and not more how food waste occurs all across the supply chain and has-- I don't know if it's made me more optimistic or more pessimistic. I definitely fluctuate between them. But it's been an interesting journey to get myself to being on this podcast, I guess. PAUL Can you just give us a little insight into why you might be pessimistic and sometimes why you might be optimistic. MATTHEW I'll start with the pessimism actually because then I can end on the more optimistic note. I think just seeing the numbers and understanding the drivers, seeing the slowness in policy. And just-- I think stepping out and seeing how people interact with the world. It's something that I think will take a huge amount of wealth and legislation and money to solve. And when you've got a million other problems in the world, it might slip through the gaps. And we've seen that. We've seen that with mandatory food waste reporting. It just keeps getting pushed on. And I think when you ask people, do you care about food waste? They say yes. It's a visceral feeling when you see food being thrown in the bin. No one's happy with it. But then when you look at how people live on a day to day basis. That concern for food waste doesn't necessarily translate into action. Now, why am I optimistic? I'm optimistic because people are talking about it. It's become very trendy, I'd say, over the last five years. People are doing podcasts on it. PAUL (Laughs) Really? MATTHEW Founders in this space are getting headlines you've got too good to go. You've got Olio. You've got Winnow. All of these businesses, which are looking to tackle nuance as a food waste to getting a lot more press. I think AI is helping a lot. PAUL What is helping a lot? Sorry. I missed that. MATTHEW Artificial intelligence is helping a lot. I think you've got greater consumer buy in. But I'm hoping it's not a trend, like, deforestation, like plastics. These things, they get the spotlight, and then it'll all sort of tails off. And a lot of the great work that was done falls to the wayside and they change and pivot the focus. So I hope that doesn't happen with food waste. PAUL I'm hoping that Awardaroo can be part of your optimistic picture because, you know, what we're about at Awardaroo is a part of it is education and really spreading the word. And it's about it is about mindset, and it's very much about behaviours. And it's about identifying simple things that we can all do that are, like, form the domino where all the other dominoes fall over. So just, you know so basically, there are there are three. First one is litter. You know, if we all pick up litter, then we empower everybody else a pickup litter that drives a community-based sort of view of things, and it's very powerful. It doesn't go into-- it doesn't become pollution. And the second one then is food. Food waste. But actually, it's expressed as cooking from scratch. You know, because if we all cook from scratch, we solve so many problems. First of all, we solve the food waste problem, and that's all of the energy that goes into the food waste, not just what goes into the bin. But also, you know, we take away all the packaging that goes with it, which is another huge issue. And we also get rid of all of the ultra-processed food, which is so damaging to everybody's health. We also create stronger families because it's nice to sit around a homemade meal. Right? I mean, nobody ever says, “Thanks Dad for the Chicken Kiev that you've just taken out of the box.” But they might say, “Thanks Dad the Chicken Kiev that you've just spent half an hour making, and, you know, you probably have done a very good job of it.” So it actually builds families as well. So it's definitely a big part of what we might say, you know, we want to do at Awardaroo, what are the areas that we like to encourage at Awardaroo. Now what is this anthropological view of food waste. Could you give us a bit more of an insight on that, please? MATTHEW I can. So I think I mentioned earlier that studied anthropology at university. And for those that don't know, the headline anthropology is the study of humans. In particular, looking at the evolutionary aspect of that. And when I was studying this and doing my food waste work, it was very interesting to start to piece those together and help understand why humans have food waste because most animals don't create food waste. So I want you to imagine humans fifteen thousand years ago. So the agricultural revolution was about twelve thousand years ago. So we're still hunter gatherers. We remember large geographic ranges because we're nomadic. So we don't stay in one place for very long. We're amazing at geography, but because we don't stay in one place, we don't have a lot of stuff because it's a pain to trip stuff miles across the savannah. Then all of a sudden , across the world pretty simultaneously, we start to develop agriculture. And if you plant a crop, you need to stay there in order to care for it and harvest it. So we became a lot more sedentary. And because we were staying in one place, we could have more stuff. And over the course of the next twelve thousand years to where we are today, we got more and more industrialised. We accrued more and more stuff. And it's a real mismatch with our brains. We're not used to that. So if I said to you, picture your route home from work or from your closest train station. I'm guaranteeing in your head, you can visualise that route. Where you know an area well. But if I said to you, tell me how much food you have in your fridge at the moment, or how many pieces of paper you have in your house. You can't. Because we don't-- we can't comprehend that scale. So when it comes to food waste, we're very bad at one, remembering how much food we've wasted. So you say, oh, I don't waste a lot of food, you know, maybe a pizza crust here, banana there. But when you put it all together, it's actually a staggering amount of food. But then also, when you're shopping and you think, what do I have in the fridge? You know, some people agree to this, but most people have no idea. And in this society we live in where we have everything at (our) fingertips. We've got a bunch of stuff. It really impacts our ability to portion properly and eat the food we have. And understand our impact. PAUL Okay. Understood. Understood. No, I could definitely relate to that. Still finding things at the back of the fridge. Yeah. So, you know, it is a it is a huge problem. What are we going to do about it, Matthew? This whole food waste recovery. I mean, where are you at the moment with it? I mean, there are various, you know, is it about policy? Is it about regulation? There's obviously people's habits. I do remember watching a video by Tristan Stewart, I think it was. And he said, “There's four times the amount we create, four times the amount of food globally that we actually need because of all food waste. And there's twice the amount of food on the shelves in the supermarkets than we actually need as well.” So, you know, it is a massive problem. There is all the energy that goes into that as well as all the you know, the pigs and the livestock and all the rest of it there. Obviously, being weird that we don't need to. So where are you on this journey at the moment then in terms of, what can we do to address it? MATTHEW I think the key thing before looking to address it is to understand where it comes from and why it comes from. And in the last couple years, my view of food waste has shifted away from the household and the retailer, which is where a lot of focus is spent, a lot of blame is put. Somewhat quite rightly. But if you look further down and you look at farm stage food waste and manufacturing and production food waste, it's huge. And I want to start this by saying, don't blame the farmers. It's not the farmer's fault that there's food waste on farm. But let's start with farm stage food waste, and we'll work our way up. So you've got direct drivers of food waste. You've got biological and environmental factors, flood, drought, pests. You've got agronomy, animal husbandry and fishing practises, disease, poor animal welfare, by catch, poor handling and harvesting techniques. And then you've also got technology and infrastructure, inadequate storage, faulty machinery, a poor connection to the marketplace. So these are some of the direct drivers. These are somewhat easier to solve. If you've got pests, you know, you can put a net above your crops. If you've got outdated technology, you can replace it. I'm not saying it's easy, but there are solutions to that. When it comes to the indirect drivers, so you've got citizens. Let's take Halloween. Everyone wants pumpkins. And then all of a sudden, no one wants pumpkins. Causes a huge amount of food waste. Governments, depending on their policies, their subsidies, it can really impact what farmers grow and their ability to get food that they grow onto place. You've got other supply chain actors. One of the examples that really sits with me is we were looking at farm stage food waste. And this farmer had this whole field of, it was cabbages. Well, no. Sorry. It was cauliflowers. They couldn't harvest because the cost of harvesting was more than the price they would get from selling it. Whereas there was a huge influx and retailers were spoilt. So there's the direct drivers and the indirect drivers. I'd say to recover food here, there needs to be local partnerships with food banks and charities, smaller supply chains. So you've got these… Odd Box, for example, where they take the wonky vegetables that might not pass the aesthetics, sell those to customers. You need more labour. That was a real issue resulting from Brexit that we just didn't have the people to help harvest. And just supporting farmers for subsidies to help them move foods away. And I think it's Fare Share. We've now got this fund where if a farmer's grown food, perfectly edible, but it's not profitable to grow. They'll pay the farmer to harvest that food and donate it to charity. PAUL Right. Right. MATTHEW We can then move on to manufacturing waste where a lot of the waste in this stage is attributed to damaged food. So if food doesn't look nice, most of the time, it won't end up on the shelf even if it's perfectly edible. PAUL That's a very much an education part of it, isn't it? And I think we can get we can educate people, I think, about you know, how ridiculous this is. And people I'm sure that would not associate the look of it were necessarily how healthy it is. It's still exactly it's still a potato. Right? Even if it looks a bit weird. MATTHEW Exactly. And there's opportunities that a lot of retailers and producers aren't doing, where let's say there is ugly bench. You know, the wording varies wonky, ugly, and perfect. But they can take that and then use that in their ready meals for example, which I know you probably won't advocate for because it's processed and whatnot. But it's a way to valorise that food waste. And it's a huge cause of food waste. You've also got lack of buyers, kind of what I alluded to earlier, where you might have a bunch of peanuts but if no one wants the peanuts, you can't eat all of them, so it will have to go to waste. So there's miscommunication in the supply chain as well. And then if we move on to retail food waste, there's a few key things. And there's one that I've coined myself. So I'll start with the indirect drivers, which is seasonal products like we mentioned earlier, Easter eggs. You've got your pumpkins, brussels sprouts, all of this stuff, the turkey - has a huge demand for a few weeks’ time and then doesn't. So after Halloween, no one buys pumpkins. All of those aren’t going to get sold, get wasted. You've got people’s shopping habits where they buy the same thing. I saw this interesting statistic from a talk I went to, where the average shopper looks at seven words in the supermarket because they're so ingrained just to, hummus, not those kind of habits. And then another indirect driver, which I'd like to think I've come up with . I haven't seen it that I called described like this before, is this myth of abundance. Where you go into a supermarket and the shelves are always stocked. You know, if they're not stocked, you get societal panic. Think back to COVID or last year when we had empty shelves, made headlines, you know. We either we don't have enough food, which is scary, or we've got just enough food that actually we've got some empty shelves. And because retailers don't want empty shelves, they always have food there. They have way more food than anyone could possibly buy. So this inevitably causes food waste. PAUL Okay. So there's a lot the guests returned. We probably don't see. MATTHEW Yeah. And then the accountability of that returned food waste from the retailer goes back to the producers or to the farmers and they have to show, to front the cost of that. And other drivers in the retail space, you've got date labels. So, “best before”, which is now being pushed away from the EU and other countries. But “use by” damaged packaging could mean that the food gets thrown away even if the food fine. You might have faulty fridges, you know. I'm sure you've walked into a supermarket, seen the fridge broke and all of the food gets thrown away. And you say to them, “Can I buy that? You know, I've just seen the fridge break. Surely, it's fine.” But they're not allowed to because of health and safety concerns. So I'd say those are the main retail causes. PAUL Okay. It's a complicated process, isn't it? So it's a complicated process, which we and we need to find actions that people can take when they go shopping to help address this. So I think if we can all see it as two halves, you know. One is before it gets to the plate and the other one is after is on the plate, you know. Once it's on the plate, you know, we need to kind of eat it, obviously. But before it goes on the plate thinking about how it got there and, you know, did it actually ever need to arrive there in that way? So I mean, have you got any hints and tips for people? Any advice for people as to-- I mean, obviously, you know, eat our peace, finish our plate, don't put it in the bin. MATTHEW I think the most power that people have is in the hope. And we're going to be talking to people. And there's a few easy things people can do whilst listening to this to reduce their food waste. The first thing, check your fridge and freezer. Are they set to the correct temperature? Your freezer should be zero degrees, and your fridge should be between like one to four degrees, one to three degrees. If you do that, your foods will last so much longer. Not only is beneficial for the planet. It's beneficial for your bank account because you're not throwing your money into the bin. I think another thing that resonates with people is a thought experiment. Where if you think about your food, how did it get there? So you've got the farm. The farmer goes, they have the seeds, they have the fertiliser, they have all of these inputs, they've got the space, the water, the time. They grow this food. They've got the machinery, the fuel to make all of this happen. Then it gets harvested, transported, processed. Again, all of these inputs are going in packaged, stored, transported again, put in the retail shelf. All of this energy, put in your car, driven home, put in your fridge. If you think about how much has gone in to getting that onion, into your fridge. I think that helps people place more value on their food because then it's not just the 17P for the banana, which if you think about all of those inputs, it's crazy how you can get a banana for 17P. But it's not just the money. It's all of that energy and all of those things. PAUL Yes. Right. Absolutely. And all as I say, the packaging that goes with it, I think we have to remember, it creates a lot of packaging. MATTHEW Yeah. And something that I know you'll be began for is cooking and understanding how ingredients work and being creative and utilising all of the food. So something I only started doing a couple years ago, I eat cauliflower, chop the head of the cauliflower, throw the leaves in the bin. I thought to myself one day, let me try and cook these leaves and I'll tell you what, put some oil and salt on, stick them in the oven it’s delicious. And it's just one way of utilising the food, freeze your vegetable scraps and make a vegetable broth. There's all of these things you can do, so that (you) minimise the inedible food waste. But also, when you're creative and cook your food, it's easier to portion. You can use up a range of vegetables. You can eat locally, and you've got a lot more control over your food. I'll give you an anecdote, which ties all of this together quite nicely. So during the pandemic, my mom and I were thinking, “What can what can we do to help?” We both like cooking, we were aware of a new food bank that was set up. So we go over, we’re volunteering. And I'm seeing this huge amount of fruit and vegetables and ingredients being donated. And we were speaking to the volunteers and they were saying that people just don't know what to do with this. You know, if someone gave me a scenario, I'd be lost. Lucky my mom knows what to do. But if I got given that in a parcel, I wouldn't be able to cook it. So you-- it was salvaged foods from a supermarket and then it would just go in the bin later on. So what we did was we got all of the vegetables, we went and perused, thought of some recipe ideas, took the vegetables from the food bank, cooked, however many you could meals, and whether that was a dessert, a soup or creole or whatnot. And then went and donated those to the food bank users. And the food we've actually got, they said, firstly, it was really nice that people are taking the time to do this. But also, it was yummy. So nice. And then we also put the recipes in as well, so they could try and do that themselves. PAUL Right. If we cook from scratch, we solve a lot of these food waste problems. And yeah, you know, there's so many recipes online now, isn't it? You know, the local council does want us to take our organic waste now, don't they? And put it into these separate little, you know, little separate little black boxes. For them to take it off separately. What is the driver behind that then? Why don't they just want us to thread in the bin with everything else? MATTHEW So they'll say environmental reasons. And that is a key part of it. If the food goes into the general waste, most of the time in England, that will then be burnt for this process called energy from waste. We don't have many landfills here. Other countries do have landfills. So they'll say environmental reasons. One of the key reasons is the money, because general waste costs are not. The disposal cost is high. When you separate your food waste and other organic matter, you've got the opportunity to send it one or two ways. One of two ways. Sorry. You can either send through composting, which not a lot of the country has access to, and something we can cover another time, which is why compostable packaging isn't the silver bullet that's made out to be. But if it doesn't go to composting, it goes to an anaerobic digestion plant where it breaks down and releases methane, but this methane is captured and converted into energy. So that way, you can then create income and usefulness and finalise this food waste rather than just sending it to landfill or to energy for waste. PAUL Okay. Got it. So it's better for the actual packaging and the processing packaging, and it's also better for the food as well that we're disposing of it. So kindly understood. Matthew, it's been real a real pleasure having you on this podcast. And giving us your insights into food waste and food waste recovery. MATTHEW It's been great chatting with you and talking about a subject that I'm so passionate about and find so interesting. So thank you. Previous Next

Agile Principles and Values: The Foundation of Modern Project Management Agile principles and values underpin modern software development. Values like customer collaboration, responding to change, and individuals over processes promote adaptability. Principles such as delivering working software, welcoming changing requirements, and frequent feedback foster agile practices. Together, they empower teams to deliver value efficiently while prioritizing customer needs. Agile Principles and Values: Transforming Project Management for Operational Excellence Agile principles and values have redefined how teams manage complex projects, especially in fast-paced environments like software development. Originally conceived in the early 2000s, Agile methodologies have been widely adopted across industries due to their focus on customer-centricity, collaboration, and delivering measurable value. In this comprehensive review, we explore Agile principles through the lens of operational excellence, efficiency, and high-performance workflows , in line with Rostone Opex's framework for success. Agile Principles: The Foundation for High-Performance Workflows Customer Satisfaction through Early and Continuous Delivery of Value In Agile, delivering value quickly and continuously is a priority. Projects are broken into smaller, manageable tasks, allowing for incremental delivery that aligns with customer expectations. This process mirrors the Rostone Opex focus on Time and Trust , as it fosters ongoing communication with stakeholders, ensuring the product meets evolving needs. By keeping workflows adaptable and customer-focused, teams can enhance satisfaction and drive business value. Embracing Change, Even Late in Development Agile’s flexibility empowers teams to adapt to changing requirements without derailing progress. This principle aligns with the Traits of adaptability and resilience, core elements of the Rostone Opex approach. Change is not a disruption but an opportunity for improvement—agility in response ensures that businesses remain competitive and can swiftly pivot to market shifts or customer demands. Frequent Delivery with a Focus on Manageable Workflows Agile promotes breaking projects into smaller tasks, such as user stories or backlog items, for quick delivery. This mirrors the emphasis on Time and Talent within the 5Ts, as smaller, focused efforts reduce inefficiencies, minimise errors, and keep workflows visible and accountable. The ability to track progress in short cycles ensures that teams can rapidly deliver results and continuously improve through feedback. Collaboration Between Cross-Functional Teams for Maximum Efficiency Collaboration is a cornerstone of Agile, where diverse teams work together towards a common goal. At Rostone Opex, this speaks to Trust and Teach . Cross-functional teams can share knowledge, identify problems early, and foster a sense of collective ownership. Agile stand-ups, akin to Rostone’s focus on communication, keep workflows transparent, help overcome barriers, and promote continuous improvement. Building Projects Around Motivated Individuals and Empowering Teams Agile encourages creating an environment where individuals feel motivated and supported, directly connecting to the Talent principle in the Rostone Opex system. When people are given the autonomy to make decisions and influence their work, the result is higher accountability and ownership. Agile leaders, much like Rostone Opex advocates, focus on providing the necessary resources and support to foster team success, ensuring operational excellence. Face-to-Face Communication for Efficient Collaboration While remote tools play a significant role in modern workflows, Agile underscores the importance of face-to-face communication for clarity and efficiency. Aligning with the Trust aspect of the 5Ts, direct communication helps build relationships, resolve issues faster, and keep workflows streamlined . When in-person meetings aren’t possible, Agile teams leverage tools like video conferencing to maintain this vital connection, ensuring that communication remains a catalyst for efficiency. Measuring Progress Through Working Products, Not Just Plans: In Agile, progress is gauged by the delivery of functional, working products rather than by documentation or plans. This practical approach reflects the Rostone Opex focus on Time and Traits , where tangible results and measurable progress are paramount. By focusing on what’s delivered rather than what’s planned, Agile teams ensure that their workflows remain productive and goal-oriented, aligned with operational excellence. Agile Values: Guiding Principles for Operational Excellence Beyond the principles, Agile methodologies are grounded in four core values that serve as a compass for teams navigating complex projects in dynamic business environments. These values echo the Rostone Opex ethos of operational efficiency, high-performance workflows, and the 5Ts—Traits, Trust, Time, Talent, and Teach—guiding successful project outcomes. Individuals and Interactions Over Processes and Tools Agile places greater emphasis on people and their interactions than on rigid processes or tools. While processes and tools play a role, Agile highlights that the real drivers of success are the individuals on the team and their capacity for collaboration. This value aligns with the Rostone Opex principle of Trust , recognising that the strength of communication and relationships is key to efficient workflows. Empowered individuals who communicate openly can innovate faster, solve problems more effectively, and create a more cohesive team dynamic. Working Solutions Over Comprehensive Documentation Agile prioritises the delivery of working products, software, or solutions over exhaustive documentation. While documentation remains valuable, it should not come at the expense of progress. Rostone Opex’s emphasis on Time and delivering value through lean and efficient workflows resonates with this value. Agile teams focus on actionable outcomes , ensuring that customer value is continually delivered. By keeping efforts streamlined, documentation supports development but does not slow down the essential progress of a project. Customer Collaboration Over Contract Negotiation Agile values ongoing customer collaboration throughout the project rather than rigid adherence to predefined contracts. This aligns perfectly with Rostone Opex's principle of Traits —adaptability and open communication ensure that customer needs are met dynamically, enabling businesses to remain responsive to change. Regular feedback loops, much like the Teach aspect of Rostone’s framework, allow teams to learn, adapt, and refine the product to meet evolving expectations, ultimately enhancing customer satisfaction. Responding to Change Over Following a Plan In Agile, adaptability takes precedence over strict adherence to a pre-set plan. This value reflects the Traits and Time principles in the Rostone Opex framework—agility in operations and time management is essential for efficiency in a fast-changing environment. Plans may offer structure, but the ability to pivot in response to market shifts or new customer insights often yields better long-term success. Agile teams, like high-performance workflows , thrive on their capacity to embrace change and find opportunity in uncertainty. The Significance of Agile Values in Project Management and Operational Excellence Agile values have fundamentally transformed project management, especially in how teams deliver value, optimise workflows, and adapt to market demands. Here’s why these values matter in today’s business landscape, particularly within the context of Rostone Opex's efficiency-first approach: Enhanced Flexibility and Adaptability Agile's emphasis on flexibility mirrors the Rostone Opex focus on Traits and Time management, ensuring that teams can adjust their workflows without compromising quality. The ability to adapt swiftly to new information or evolving customer needs is essential in today’s fast-paced business environment, enabling organisations to remain competitive and innovative. Improved Collaboration and Communication Cross-functional teams thrive under Agile, which promotes continuous communication and collaboration, directly aligning with Trust and Teach principles. By synchronising efforts through daily stand-ups and iterative feedback cycles, Agile fosters a culture of openness and shared responsibility. This collaboration improves problem-solving, accelerates decision-making, and strengthens the overall performance of the team. Increased Customer Satisfaction By delivering value early and frequently, Agile ensures that customers receive products that closely match their expectations. This iterative delivery model reflects the Traits of customer-centricity and the Teach principle, as customer feedback helps guide the project. Agile methodologies help teams achieve higher levels of customer satisfaction, building long-term relationships and enhancing loyalty. Reduced Risk and Cost Agile’s incremental approach to development allows teams to identify risks early and address them before they escalate. Rostone Opex’s principles of lean processes and efficient resource allocation come into play here, as smaller iterations help avoid costly mistakes and make projects more predictable. Agile workflows minimise waste, keeping projects on track and within budget. Faster Time-to-Market Agile's iterative cycles accelerate time-to-market, an advantage in industries where speed is critical. Rostone Opex’s focus on Time and optimising workflows for efficiency ensures that teams remain on target and deliver value consistently. Faster delivery also allows businesses to capitalise on market opportunities, ensuring they stay ahead of competitors. Empowered Teams Lead to Greater Innovation Agile empowers teams to make decisions and take ownership of their work, driving motivation, innovation, and accountability. Rostone Opex’s Talent principle shines here, as teams equipped with the right skills and authority can push boundaries and create value-driven solutions. This empowerment enhances team performance and fosters a culture of continuous improvement. Measurable Progress and Transparency By focusing on working products as the primary measure of progress, Agile provides stakeholders with clear and tangible outcomes. This transparency promotes Trust between teams and customers, ensuring that workflows remain aligned with business goals. Stakeholders can see real results, fostering confidence and ensuring continued support throughout the project lifecycle. Agile principles and values have revolutionised not only project management but also how businesses achieve operational excellence. In today’s environment of rapid technological advancements and shifting market dynamics, the significance of Agile continues to grow. By embracing these values and integrating them with the Rostone Opex approach, organisations can unlock higher performance, consistently deliver customer value, and confidently navigate the complexities of modern business. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

< Back Earnings Per Share (EPS) Understanding Earnings Per Share (EPS): Measuring Profitability Per Share Earnings Per Share (EPS) is a financial metric that indicates the portion of a company's profit allocated to each outstanding share of common stock. It is a key indicator of a company's profitability and is often used by investors to gauge a company's financial health and performance. EPS = (Net Income−Dividends on Preferred Stock) / Average Outstanding Shares Suppose Company XYZ has the following financial details: Net Income: $1,000,000 Dividends on Preferred Stock: $100,000 Average Outstanding Shares: 450,000 To calculate the Earnings Per Share: Subtract dividends on preferred stock from net income: 1,000,000−100,000=900,000 Divide by the average outstanding shares: 900,000/450,000=2 An EPS of $2 indicates that Company XYZ earned $2 for each share of its common stock over the reporting period. This suggests the company's profitability on a per-share basis. Market Value Ratio Previous Next

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 Start Your Business Improvement Journey Our business improvement programme and smart operations offer clarity and a well-defined pathway for you and your team to move forward confidently. Get Started

What is Stakeholder Capitalism? The idea of stakeholder capitalism features in The Modern Corporation and Private Property from 1932 and came to life in the 1970s, driven largely by Klaus Schwab, who founded the World Economic Forum. Published on: 27 Jul 2023 Stakeholder capitalism is about companies serving a wider group of interests beyond the narrow focus on their shareholders. The list of stakeholders includes the shareholders but also customers, staff, partners, suppliers, the planet, the community and wider society. A stakeholder business considers the environmental, social and governance (ESG) issues and corporate social responsibility (CSR) in addition to making a profit for shareholders. Stakeholder capitalism has a broader scope than shareholder capitalism alone Implementing stakeholder capitalism can be difficult as it has to be balanced with the priorities of shareholder capitalism Consistent metrics for companies to measure their efforts are needed for stakeholder capitalism to be applied successfully Momentum in the growth of stakeholder capitalism is being driven in part by increasing ESG and CSR requirements Economic models are adapting to support stakeholder capitalism objectives with advances in sustainable and circular economic activities The idea of stakeholder capitalism features in The Modern Corporation and Private Property from 1932 and came to life in the 1970s, driven largely by Klaus Schwab, who founded the World Economic Forum. In 2019, the influential Business Roundtable of top US company executives urged a move by companies away from shareholder primacy. At the start of 2015, releasing a report with former UK chancellor Ed Balls, former US treasury secretary Larry Summers wrote, “The ability of free-market democracies to deliver widely shared increases in prosperity is in question as never before.” As the saying goes, a rising tide lifts all boats. So for the first 100 years of capitalism nobody saw the damage being done. After all, more people die today of obesity than starvation. Most people became better off. However, now we see the shrinking ice caps, the inequality with bosses paid hundreds or even thousand times more than their staff and increasing pollution. The cost of economic growth has become more apparent to everybody. The best-performing companies are inclusive; they engage their employees and treat them right. In return, the staff are more motivated and the company more profitable. Countries can be run in the same way, by galvanising their population’s efforts to maximise growth and instilling a belief that things are being done in a fair, equal and inclusive way. Industrial capitalism needs an upgrade. Today, the world is dominated by services, experiences and knowledge, not industry. It needs upgrading to stakeholder capitalism . Haydn Shaughnessy wrote about this back in 2012, in Forbes , The Emergence of Social Capitalism: Adaptation or Threat? Stakeholder capitalism needs to be built with stakeholder businesses . These businesses still have profit as a primary focus, but they recognise and account for their impact on the environment, the communities within which they operate and the management of their suppliers and staff. Unlike their industrial capitalist parents, stakeholder capitalists don’t work in isolation. They work with others and factor into their costs the impact they’re having on the wider environment, the world and on other businesses. It’s a fundamental and very important difference. Yanis Varoufakis refers to it as “ democratic socialism” which works for him and his left leaning ideas and Marco Rubio’s calls it “common good capitalism” which works for his Republican right leaning tendencies. However “stakeholder capitalism” would be equally liked and disliked by both sides so making it an ideal name to run with, at least for now. As Winston Churchill once said: “The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” Stakeholder capitalism brings together business, society and government into a single place, where the interests of all three are met equally at the same time. What is the difference between Shareholder Capitalism and Stakeholder Capitalism? Stakeholders in a company have a vested interest in it as they are affected by what it does and how it performs. In contrast to stakeholder capitalism, shareholder capitalism focuses more exclusively on achieving beneficial outcomes for companies and their shareholders through profitable growth. In the 1970s, the economist Milton Friedman was an influential voice in support of shareholder capitalism as the way forward for businesses. Traditionally, business owners are capitalists who own the means of production and pay wages to employees who work on their behalf. Flaws in capitalism concerning the exploitation of workers by factory owners were highlighted in the 19th century, in particular by Karl Marx, the German philosopher who witnessed first-hand the deprivations caused by the industrial revolution on his visits to Manchester. Social reform from the 19th century led to greater protection of employees, an important stakeholder group. Marx and Friedrich Engel’s pamphlet The Communist Manifesto viewed capitalism as a historical stage that would be followed by socialism – whether through revolution of political reforms and structural change. The threats to individuals posed by shareholder capitalism have influenced the works of many great authors, from Charles Dickens to George Orwell. Shareholder capitalism isn’t in danger of being overthrown, but it is evolving – rapidly. Source: Avenis What are the challenges of Stakeholder Capitalism? To be effective, stakeholder capitalism needs to strike the right balance with the demands of traditional shareholder capitalism. In his book Stakeholder Capitalism , Schwab highlights the list of major socio-economic issues that have to be tackled : Rising income inequality and slow wage growth Slowing growth, innovation and productivity Global debt Exploitation of natural resources that is damaging the environment The Embedding Project, which helps companies embed social and environmental factors in their decision-making, interviewed hundreds of senior leaders of global companies to identify these key stumbling blocks facing stakeholder capitalism : Not all positive contributions offset adverse impacts, for example, making carbon credits to cover carbon emissions Companies need to do more to balance all interests Meeting stakeholder expectations might not be enough in the longer term Focusing too much on stakeholders’ risks and ignoring bigger systems that are at play, for example, a well-intentioned environmental action might destabilise larger ecosystem activity. A flaw in stakeholder capitalism is that businesses trying to balance diverse priorities can cause confusion that may lead to so called garbage can organisations . Some people worry that stakeholder capitalism in the 21st century could fail for the same reasons they believe it did in the 20th century. Other challenges for businesses to face when they embrace stakeholder capitalism include: Being too vague on your goals and what success looks like Trying to do too much at the same time Not being accountable Not dealing with resistance to change from shareholders or conflicts between stakeholders Another significant challenge is cynicism in the ability of stakeholder capitalism to deliver on its promises. People can be turned off by tokenism and actions that are really no more than public relations exercises – talking the talk rather than walking the walk. Stakeholder capitalism initiatives can also be hijacked for other purposes, for example, as an excuse to cut workforce numbers. Implementing Stakeholder Capitalism Attention is being given to how best to transition to stakeholder capitalism and ensure it can be sustained. In conjunction with the likes of Deloitte, EY, KPMG and PwC, the World Economic Forum has proposed a set of common metrics that encourage consistent reporting by businesses of sustainable value creation. The aim is for these metrics to be used in corporate annual reports across all industry sectors and countries. There are 21 core metrics where information is already reported and a further 34 metrics that are less established. All metrics are aligned with four ESG priorities: governance, planet, people and prosperity. A report by the London Business School and the Investor Forum urges investors to use their influence to bridge the perceived divide between the role of shareholders and the expectations of stakeholders. The report recommends action in two key areas: A systematic approach in responding to stakeholder issues Better alignment of interests between investors and stakeholders Consultants McKinsey identifies five steps to getting stakeholder capitalism right : Know your stakeholders Understand stakeholders’ needs Define and measure how you will meet stakeholders’ needs Execute your stakeholder capitalism strategy Sustain long-term value creation for all your stakeholders WEF-IBC Measuring Stakeholder Capitalism Report How to measure Stakeholder Capitalism? As they say, “what gets measured, gets managed”, so how to measure stakeholder capitalism? A part of the answer lays with ESG; Environmental, Social and Governance criteria, and a white paper commissioned by the World Economic Forum’s International Business Council (IBC) called Measuring Stakeholder Capitalism – Towards common metrics and consistent reporting of sustainable value creation. This contains 21 core metrics and 34 expanded metrics with the goal of creating a global reporting system. The framework divides the metrics into four areas — principles of governance, planet, people, and prosperity — that serve as the foundation for ESG reporting standards. Each of these considers the 17 SDGs: Stakeholder Capitalism SDG Principles of Governance Metrics Stakeholder Capitalism SDG Principles of Governance Metrics SDG12: Responsible consumption and production, SDG16: Peace Justice and strong institutions, SDG17: Partnerships for the goals Stakeholder Capitalism SDG Planet Metrics Stakeholder Capitalism SDG Planet Metrics SDG6: Clean water and sanitation, SDG7: Affordable and clean energy, SD12: Responsible consumption and production, SDG13: Climate action, SDG14: Life below water, SDG15: Life on land Stakeholder Capitalism SDG People Metrics Stakeholder Capitalism SDG People Metrics SDG1: No Poverty, SDG3: Good health, SDG4: Quality Education, SDG5: Gender Equality, SDG10: Reduced Equalities Stakeholder Capitalism SDG Prosperity Metrics Stakeholder Capitalism SDG Prosperity Metrics SDG1: No poverty, SDG8: Descent economic growth, SDG9: Industry innovation and infrastructure, SDG10: Reduced inequalities To Wrap It Up Stakeholder capitalism is concerned not only for the shareholders but for all those who have a stake in the business – the employees, suppliers, customers, partners, society and the planet. To address the challenges of stakeholder capitalism, we must set ourselves to incorporate the ESG (environment, social and governance) principles not only with our reporting systems (or metrics) but also to embed these principles into the fabric of our businesses. We must approach this in such a way that our stakeholders have no doubt that we hold their best interests at heart. We can do this by being transparent in our governance, taking the utmost care to show how we value our people and by making firm decisions that support our environment. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

< Back Operating Margin Understanding the Operating Margin: Measuring Operational Efficiency 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. Operating Margin = (Operating Income / Net Sales) × 100 Suppose Company LMN has the following financial details: Operating Income: $300,000 Net Sales: $1,000,000 To calculate the Operating Margin: Divide operating income by net sales and multiply by 100: (300,000/1,000,000) × 100 = 30% An Operating Margin of 30% indicates that Company LMN retains 30% of its revenue as operating profit after covering its variable costs. This suggests a strong operational efficiency. Profitability Ratio Previous Next

What is Proactive Customer Service? Proactive customer service helps companies out-innovate and out-perform the competition, increasing business growth and profitability. Published on: 29 Apr 2021 Proactive Customer Service Definition “Also known as proactive customer support, proactive customer service involves going out of your way to improve a customer experience. Businesses who use proactive customer service help customers by anticipating their needs before customers feel the need to contact the company.” As you can imagine there are lots of ways businesses can implement proactive customer service. Customer satisfaction surveys can help. It could be by introducing a new product, improving a service or changing a process completely to name just a few examples. Whatever the solution is, all businesses who implement proactive customer service have one thing in common — they resolve customer issues before they occur . They achieve this by anticipating customer needs, pains and desires and taking action to resolve whatever it is as soon as possible. All of this improves the customer experience. The opposite to proactive customer service is the example we used in the introduction. This is reactive customer service. Proactive Customer Service Vs. Reactive Customer Service Reactive customer service is the far more common type of customer service we see in businesses across the UK. We’re not here to slate reactive customer service. There is absolutely a time and a place for it. It’s almost impossible to anticipate all customer issues, needs and desires. This said, companies tend to lean too heavily on reactive customer service with proactive customer service left on the backburner. If companies dedicated more time and resources into proactive customer service, employees would have more time to dedicate to helping the business grow through chasing leads, as opposed to being bogged down with reactive issues. A good way to understand the two is with a simple analogy. Let’s think about our garden. We put weed killer down to stop them cropping up as regularly. That’s our proactive customer service. Weed killer doesn’t stop all weeds from coming up though, so we also need to go round and deal with the weeds that do come up. This is reactive customer service. I think we can all agree we’d rather deal with less weeds in the garden and spend more time growing new plants! Using both customer service approaches together can help businesses spend less time on reactive customer service and more time on growing their business. Proactive Customer Service Benefits There are so many great benefits of implementing proactive customer service for your business. They’re as follows: Free Up Your Team We touched on this above, but it’s worth expanding on. How much of your team’s day is taken up with service calls? By this we mean calls about queries or issues that could have been easily resolved at a point before the customer contacted you. We’d guess the answer is quite a lot! From the companies we’ve worked with, most of them spend around 50% of their day on service calls. Now think how much time your team would have to spend on more productive tasks if you halved the amount of service calls. It’s a complete game changer for business productivity. Boost Brand Authority Brand authority is so important for companies in an increasingly digital landscape. It’s vital for both the acquisition and retention of customers. Getting it right is the difference between you and the next competitor. Improve Retention Rates Intrinsically related to the above, boosting brand authority can help improve your retention rates by creating loyal customers . Loyal customers are better for business, costing a fraction of the price new customers cost to acquire. More Reviews Think about it — when was the last time a company really ‘wowed’ you? We bet when they did, you probably left them a review. Just like customers are more inclined to leave negative reviews for poor experiences, customers are more inclined to leave positive reviews for seamless experiences . Because you’re delivering a better service through a proactive support, your reviews should increase. Create Advocates Word of mouth marketing is still a valuable tool even in the digital commerce realm. In fact, word of mouth marketing drives $6 trillion of annual consumer spending in America, accounting for 13% of consumer sales. It’s importance cannot be overstated. Customers who have an outstanding experience with your brand are more likely to recommend your business to a friend, colleague or family member. How to Implement Proactive Customer Service Ideas We can guess what you’re thinking. “ As if my customer service team don’t have enough to do already! There’s no way I’ll find the time .” Fortunately, implementing proactive customer service ideas isn’t as hard as you might think it is. In fact, you’re probably doing some of it already! You need to do three main factors involving in implementing a proactive customer service strategy: Be available Help customers help themselves Know your customers You should have more than just a contact us form on your site to be available to your customers. You should be available across many different channels and actually monitor these channels. This includes phone, email and social media. Customers can then choose the channel most convenient to them. You should also empower your customers to help themselves. This can be through improving your customer experience with great content. Not content written solely for SEO, but content that actually helps your customers resolve common queries or issues to do with your product or service. Of course, without knowing your customers all of this is futile. You can’t anticipate what your customer’s needs and wants are if you don’t have a clue who your customers are. These three foundations help you lay the foundations for your proactive support approach, but we’ll give you a few more proactive customer service ideas to try to add to your strategy to build on these foundations. Proactive Customer Service Strategies There’s lots of strategies you can implement to deliver more proactive customer service. Try these. Ask For Feedback Very obvious, but very helpful — the best way to figure out how your customers think you could improve is by asking them. You can do this in many different ways. You could add feedback surveys to your customer journey, ask for reviews, ask for feedback on your site or kick it old school and pick up a phone to ask. Companies who do this can identify areas of weakness before they become an issue and cause unhappy customers. Monitor Mentions Do you pay attention to what’s being said about your business online — both the good and the bad? Good mentions feel great, but negative mentions should be seen as an opportunity , not a slight. Reach out to any negative mentions to get to the root of the problem so you can make sure it never happens again. There’s also opportunity in the positive interactions. Many brands are killing it on twitter with positive and fun interactions with customers instead of getting bogged down in reactive tweets from upset customers only. Reward Customers So many companies claim to value their customers, but don’t do anything to show it. They’re too focused on chasing down the new customer. Show your loyal customers you value them by rewarding them with exclusive offers and deals. Alongside outstanding customer service, it’s one of the best strategies to build loyalty. This doesn’t have to be as simple as offering a percentage off on their next purchase. You can send out personalised emails recommending products related to their previous purchases. This could be to remind them a subscription is running out or giving them the heads up on an exclusive sale of products you know they love, as well as many other ideas. Admit Mistakes Honesty is a virtue in life and business. Don’t let customers discover a problem on their own. If you’re aware of a problem, proactively reach out to inform customers. Anytime you identify a problem that will affect your customer experience, you should be reaching out to let them know, as well as letting them know what you’re doing to fix it and how long it’ll take. Amazon is a great example of this. As we all know, their entire service revolves around the fastest delivery possible. So when they have delivery issues or delays, Amazon will reach out to the customer to let them know when the new delivery date will be. For prime subscribers, they’ll also often credit them with a month free subscription to make up for the inconvenience — all before the customer has even realised there’s a problem! It’s an outstanding proactive customer service example that shows why Amazon is the king of eCommerce. Create Content Have you ever had to call up a company for a query so minor that you feel like it’s a waste of both your time? Wouldn’t you have preferred to just find the answer you were looking for online? Creating content that helps customers answer their own queries is a vital step of proactive customer service. You should be keeping track of common queries from customers and creating content to answer them on your website. Not only that but this information should be really easy to find. You can put together an FAQs section, a resources hub or add it to product pages. Embrace Automation Automation can help in so many aspects of proactive customer care and service. You could use email or SMS automation to send notifications and reminders (that will actually help your customers, not just sell products!). You could use an AI chatbot to answer simple queries or better direct queries to the right department. There’s endless examples where automation can help deliver a better customer experience. Proactive Customer Service Examples We’ve covered a few proactive customer service strategies that you could implement across many different businesses in various industries above. But sometimes it’s easier to learn by example, so here’s a few beacons of proactive customer service. Netflix Streaming issues are Netflix’s nemesis. They make the service completely defective. But they do happen. Instead of brushing them under the carpet or waiting for customers to find out, Netflix issues a statement anytime there’s an issue that could cause streaming issues. They apologise and sometimes offer a free month to make up for the inconvenience. It’s a great example of transparent proactive customer service which no doubt saves their customer service team hours of potential complaints down the line. Adobe Adobe may well have the most comprehensive collection of proactive content around. They have exhaustive guides for all of their different programs. Not just this but they have different level guides for novice, intermediate and advanced users. The content is easy to trawl through so customers can find what they’re looking for, as well as search engine optimised to allow customers to find the answers through that route instead. Tesla In such a short time since the company first started making waves, Tesla has built an incredibly loyal customer base through proactive customer service. In fact, 80% of their customers buy or lease another Tesla for their next car. It’s an enviable statistic for other companies. They achieve this through an outstanding customer journey. Not just from inquiry to sale, but after the sale as well. Tesla created an entire charging network infrastructure across the United States, at their own initial cost, to ensure their customers could drive and charge their vehicles with ease. BetterCloud BetterCloud is a SaaS management company. When their customers have an issue, the system flags it and sends it to one of their customer service agents. The agent then contacts the customer explaining the problem has been flagged and asking how they can help, all before the customer has to get in touch. IKEA Ikea uses augmented reality to relieve the customer pain point of not knowing how a piece of furniture will look in their home before purchasing. It’s a great tool that not only improves the customer experience, but likely saves the company a huge amount of time dealing with refunds or exchanges. Amazon Of course, no list of proactive customer service examples would be complete without mentioning Amazon. We mentioned them above, but that’s just one example of many outstanding customer service strategies the eCommerce giant follows. The company has been slowly revolutionising many different industries from bookstores to subscription services by focusing on one core value — customer obsessed. They have an incredibly detailed DIY help centre which is easy to navigate and packed full of helpful information. As we mentioned above, they proactively inform customers not just about delivery slots but also update them beforehand if there will be delays. Even their reactive support is impressive; should users ever actually have a problem which isn’t resolved beforehand, they have 24/7 support with impressively low wait times. Be Proactive and Grow Your Business Companies who embrace proactive customer service will remain ahead of the competition in terms of revenue, customer loyalty and brand authority. Though reactive customer service still has its place within customer support teams, an increased focus on proactive customer service can decrease the time spent on service calls, freeing up your staff for more productive tasks to help grow your business. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

How To Use Internal and External Communications To Improve Business Performance Staff and customers feature prominently in most company vision and values statements. Improving customers’ experiences is usually an all-consuming obsession for sales and marketing teams. Published on: 25 Feb 2021 Use your business communications to improve business performance Good business communications can positively influence business performance and productivity . Staff and customers feature prominently in most company vision and values statements. Improving customers’ experiences is usually an all-consuming obsession for sales and marketing teams. The employee experience is becoming an equally important priority for HR departments – after all, businesses regularly assert the mantra “staff are our most important asset”. How you communicate with both your staff and customers is an important way of showing you understand and respect them. You should think about communicating simultaneously with both audiences as part of a concerted effort to grow your business. In a way, they are two sides of the same coin. Timothy R Clark, CEO of LeaderFactor, hits the nail on the head: “Highly engaged employees make the customer experience. Disengaged employees break it.” Think of each piece of communication that you publish as a golden opportunity to build better experiences for these two audiences. The channels you use to communicate are relatively easy to set up. Newsletters, magazines, blogs, emails and apps, to name a few. What you put in them is often trickier to get right. The most impactful internal and external communications are down to good storytelling . Clear the roadblocks to effective communications There are likely to be roadblocks on the route to smoothly achieving your internal and external communications goals . Here are some of the hurdles that small businesses , medium-sized businesses and enterprises are likely to face – together with ideas on how to overcome them. Let’s start with staff communications. Senior management should support but not dominate internal communications Challenge Internal communications need buy-in and support from the top. This adds credibility to the content and should provide stronger momentum for your communications. However, it can create two challenges. First, senior management may lack the time – or inclination – to focus on internal communications. Data from Gallup shows that only 13% of employees strongly agree that leaders communicate effectively with the rest of the organisation. Second, there is the risk of managers dominating the platform. You don’t want employees seeing ‘their’ company newsletter as just another management mouthpiece. Fostering honest and open internal communications is one of the key leadership skills of the 21st century . Ideas • Good leaders listen. They can demonstrate this by balancing the content of their internal communications, so it isn’t top-heavy with corporate messaging • Whenever you share important company messages do it in a palatable way that staff will find easy to digest • Report honestly on setbacks, as well as progress, to build trust in what you are saying • Respond quickly to negative situations with real examples of what you are doing to turn things around Improve productivity with two-way internal communications Challenge Research by the Chartered Institute of Personnel and Development (CIPD) found that a quarter of employees said they rarely or never have the opportunity to raise ideas or concerns to improve how their business functions. A quarter reported that they often choose not to speak up, even though they have something they’d like to say. If you get staff on your side then they’re likely to want to work harder for you. Ideas • Use your internal communications to encourage people to share their views – both positive and negative. Then make sure you follow up, and report on, the actions you plan for remedying unsatisfactory situations • If staff are more involved in the process they should feel ownership of internal communications, such as a newsletter, so it becomes a trusted channel for giving information • Feature plenty of comments and quotes from staff in your news – that’s usually who colleagues most want to read about • Think about having a staff representative attend planning meetings for key internal communications projects, where they can represent their colleagues’ views while discussing content suggestions Align employee with company goals Challenge Deloitte noted that only 23% of executives in its survey said their companies were excellent at aligning employees’ goals with corporate purposes. The firm noted that over half (59%) of those surveyed said they were not ready or only somewhat ready to address the employee experience challenge. Company goals should be shared openly and reinforced regularly, not left on a shelf collecting dust, because they are essential to creating a healthy company culture. If you keep them out in the open and review them regularly then you are more likely to be able to align corporate ambitions with employees’ goals. Having staff on your side makes sustained business growth more achievable. As former Fortune 500 CEO and business leader Douglas R Conant points out: “To win in the marketplace, you must first win in the workplace.” Ideas • Use your internal communications to encourage and demonstrate greater workplace collaboration, so everyone feels part of the same team, pursuing common goals • Share important messages around wellbeing, health & safety and the work/life balance • Share recruitment information and job role profiles, so staff can see where their next career steps might be and you can reduce employee churn • Include corporate social responsibility (CSR) information in your communications – these issues are front-of-mind for many people • Feature personal stories from staff about life beyond work that help to reflect the human side of your business Highlight reward and recognition Challenge Reward and recognition schemes are a great way to boost employee wellbeing and loyalty. But a Perkbox survey found only 4% of employees said they currently have the right perks for them. Encouragingly, Perkbox also reported that 42% of staff said they’d be happier in 2021 if they received greater recognition for their work. You often hear companies bemoan the fact that staff don’t take advantage of the range of attractive incentives and benefits available to them. On the flip side, staff sometimes complain their employers fail to give them much in the way of perks but aren’t aware of what’s on offer. This situation highlights the damaging impact of an avoidable internal communications breakdown. Ideas • Celebrate staff successes and achievements with stories that give them the recognition they deserve and which inspire colleagues to aim equally high in their efforts • Keep details about your benefits and rewards programmes up to date, so everyone knows the latest news and how they can participate • Encourage greater innovation in the workplace by showcasing staff suggestions about better ways of working • Motivate staff with positive news, so they feel more loyal and happier to be more productive Now, let’s look at customer communications. Improve the customer experience Challenge Over two-thirds of marketing people who are responsible for managing the customer experience in companies told Gartner that their companies compete mostly or completely based on those experiences. Getting the customer experience right is essential so your productivity isn’t compromised by constantly having to sort out poor experiences. If you get it right, then you should be on a roll – Gladly observed that 68% of people were happy to pay more for products and services if they knew the company offered good customer service experiences. Ideas • Use external communications to make customers feel appreciated and part of a community based around your brand • Use external communications to improve your understanding of what customers want, so you can increase your performance by improving customer experiences • See life from the customer’s point of view, not yours. Share information, such as advice and case studies, that are relevant to their world • Speak the same language as your customers – straight-talking and jargon-free – so they are more likely to respond positively Personalise your relationships Challenge According to Accenture , only 22% of global customers said that the companies with which they do business tailor their experiences based on a deep understanding of their needs, preferences and past interactions. CEOs appear to be taking steps to address this, with 73% of them recognising the need for products, services and experiences that are more meaningful to their customers. Accenture says we are now in the ‘hyper-relevance’ era. A lot of success in improving customer experiences comes down to how well you personalise your communication. The Gladly survey found that 59% of people said that they preferred personalisation over speed in customer service. Ideas • Share positive stories about customer experiences that strengthen trust in your brand • Share important news about your business and products in a timely way that inspires confidence in your brand and generates additional interest in your business • Use external communications to highlight special offers tailored to your audience • Bring more customers back through positive, personalised messaging Listen and learn from customer feedback Challenge The service that customers receive is important in terms of how loyal they are, said 96% of respondents to a Microsoft survey. What’s more, some 77% of customers view brands more favourably if they ask for and accept customer feedback. While 68% of them view brands more favourably if they act proactively in their relationships. Ideas • Use your external communications as a platform to receive and share customer feedback that helps you understand what they think about you, so you can continually improve what you offer them • Show compassion and a deep understanding of customers’ challenges – plus a readiness to help tackle them • Delivering content that engages its audience should encourage customers to continue interacting with you • Demonstrate that your business is the expert in its market by encouraging debate and discussion around topics that highlight your leadership Turn customers into brand ambassadors Challenge A report by Bond shows that 70% of customers are more likely to recommend brands that offer good loyalty programmes. It said loyalty programmes that establish ‘positive emotional connections’ with members can lead to 27% of the membership increasing how much they spend with the brand. The ability to increase revenue from loyal customers is confirmed by Bain , who noted that companies that excel at the customer experience grow revenues 4-8% above their market. Better experiences increase loyalty and turn customers into promoters of your brand, with a lifetime value 6-14 times that of detractors, according to Bain. Customers who are switched-on to your brand can have a positive impact on your profitability. Constellation Research estimated that companies that improve engagement can increase cross-sell revenue by 22%. Ideas • Engage customers more fully with useful information about your products and services, so they get more from them • Use your external communications to educate and inform customers about your whole business – beyond the transactional side that first brought them to you • Improving customer loyalty saves money – it costs businesses far more to find new customers than to retain existing ones Summary Timely, informative, conversational internal communications help keep everyone in the picture and enable two-way conversations, so you can understand the challenges your people face and respond more quickly to resolve their issues. Lively, insightful external communications reinforce your business values, help you learn more about your customers and put a human face on your businesses. Creating effective business communications comes down to the words you use . What to say, how to say it and when to say it. It’s not always easy articulating the things that make your business a brilliant place to work or one that treats its customers like royalty. Previous Next Start Your Business Improvement Journey Our business improvement programme and smart operations provide clarity and a clear pathway forward for you and your team. Get Started

Businesses Should Rethink Employment Benefits Post-Pandemic The new norm may just be the norm as employees increasingly say they have no interest in returning to the office full-time. Businesses must adapt to these changes. In the UK, many companies seem to be recognising this shift and adapting. Almost 50 of the UK's biggest employers said they would adopt flexible, hybrid and remote working practices in place. It is undeniable that Covid has transformed our ways of working, but as normality slowly returns as restrictions lifts, it seems the employment landscape has shifted irrevocably. Scott Dussault , CFO at Workhuman recognises this shift and states: "Post-pandemic there's no question that the working-from-home genie isn't going back into the bottle... remote work may no longer be viewed as a perk, companies may adjust employee benefits accordingly, swapping traditional benefits like on-site childcare, gyms and lunches for in-kind stipends and off-site alternatives." Research into employee sentiment is similar, with 97% of employees surveyed stating they don't want to return to the office full-time. 61% of those stated they prefer working in a fully remote environment. For benefits beyond this, many HR and finance departments are looking for creative ways to transfer traditional perks into the future. Multifaceted wellness is an increasingly important perk. By this we refer to not just physical wellness, but emotional and mental wellness, as well as financial wellness. Research suggests employees don't want this benefit just for themselves, but also for their loved ones. Research also suggests company culture is becoming an increasingly important factor, particularly for Gen Z and millennials. More than traditional monetary perks, employees surveyed stated they wanted trustworthy leaders, for their leaders to trust them, human connection, diversity, equity and belonging. Of course, there are some industries where flexible working practices cannot be the new norm, such as hospitality. These industries have been hit the hardest by the pandemic and in the UK now face yet another uphill battle as they face a staffing crisis. Job vacancies in the industry are at their highest levels since records began and one in five workers have left the sector. A major contributor to this staffing problem is the status quo of company culture in the hospitality industry - that is low wages and long, unsociable working hours, alongside a high rate of zero hour contracts. For this industry in particular, the challenges are vast. Wages must increase and a pay progression scale must be implemented, but more pressingly a work-life balance must be restored to begin attracting potential employees back. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

4 Day Work Week Boosts Business Productivity and Employee Well-Being A long-term study of 4 day work weeks in Iceland has been called an "overwhelming success" as employee well-being and business productivity increased. Researchers have agreed the world's largest ever trial of a four day work week was an " overwhelming success ". The trial, run by Reykjavik City Council and the Icelandic National Government, took place in Iceland and ran from 2015 to 2019, involving more than 2,500 people, more than 1% of the working population of Iceland. The participants had their working week cut to between 35 to 36 hours a week, with no reduction in overall pay. Think tanks in both Iceland and the UK have this week declared the trials a success, stating that they boosted productivity and employee wellbeing improved dramatically. Analysis found stress and burnout were reduced, while health and work-life balance improved. It's good news for businesses too, as researchers state productivity and service provision remained at the same levels or improved across the majority of workplaces involved in the trial. After the trials ended, new agreements between employee unions and companies were struck between 2019 to 2021 to continue the four day work week. It's now estimated that around 86% of Iceland's working population now have reduced hours or flexibility within their contract to reduce their working hours. UK Think Tank Autonomy concludes that there is no positive correlation between productivity and the amount of hours worked per day. They believe there are strong indications that reducing the working should be a realistic possibility for businesses. The think tank has recommended a similar trial is run in the UK. In other countries, a number of similar trials are already underway in both Spain and in New Zealand. Employee well-being isn't the only benefit that can come from reducing the work week. A Report commissioned by Platform London suggests a decrease in hours could also cut the carbon footprint of UK businesses. Previous Next Unlock Healthy Business Growth Discover strategies to enhance profitability, cultivate a greener and more sustainable business model, and elevate overall well-being. GET STARTED

< Back Balance Sheet A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It summarises what the company owns (assets), what it owes (liabilities), and the owners' equity in the company. The balance sheet is divided into three main sections: Assets Resources owned by the company that are expected to bring future economic benefits. Assets are typically categorised into: Current Assets: Assets that are expected to be converted to cash or used up within one year, such as cash, accounts receivable, and inventory. Non-Current Assets: Long-term investments and assets not expected to be liquidated within a year, such as property, plant, equipment, and intangible assets like patents and trademarks. Liabilities Obligations that the company owes to outside parties. Liabilities are also divided into: Current Liabilities: Debts and obligations due within one year, such as accounts payable, short-term loans, and accrued expenses. Non-Current Liabilities: Long-term debts and obligations not due within the next year, such as long-term loans, bonds payable, and deferred tax liabilities. Equity The residual interest in the assets of the company after deducting liabilities. Equity represents the owners' claim on the business and includes: Share Capital: Funds raised from issuing shares to shareholders. Retained Earnings: Cumulative profits that have been reinvested in the business rather than distributed as dividends. The balance sheet follows the accounting equation: Assets = Liabilities + Equity This equation must always balance, hence the name "balance sheet." It ensures that all resources (assets) are financed either by borrowing money (liabilities) or through the owner's investment (equity). Previous Next

Business Coaching for Hotels and Hospitality Increase your revenue and market share with help from our Hotel and Hospitality business productivity experts. Whether you’re an independent B&B, a franchised hotel or even a campsite, we can help. Our hospitality business operating system helps you increase your market share and revenue through increasing your business productivity. Operational Excellence for Hotels and Hospitality The long-term success of your hotel or hospitality venue is dependent on operational excellence and outstanding customer service. Without either, your business will struggle to succeed long-term. We know the success of every business comes down to their staff members. This is particularly true for the hospitality industry. We’ll help you implement a better organisational structure to empower your staff. Allowing them to share the ideas and innovations that can help your business thrive with the people who can make those ideas reality. Our hotel business productivity strategy helps you set clear, tangible goals to bring driven results. We’ll help you bring consistency to your brand to ensure you deliver an outstanding service, every single time. Sales and Service Training for Hotels Sales and service training for hotel staff ensures professional phone etiquette , enhancing guest experience. It increases booking rates, resolves inquiries efficiently, builds guest loyalty, and fosters a positive reputation, driving repeat business. Hospitality Business Operating System Every hotel runs a little differently. It’s the unique quirks and traits of each hospitality establishment that make it such a memorable experience for your guests. We understand this and help you consistently deliver an outstanding customer experience for every single guest. Our hotel business consultants focus on helping you flawlessly execute your unique way of working, so you can achieve operational excellence. At the same time, we’ll also help you grow your market share and revenue with our business intelligence solutions. See hotel business coaching case study . What Your Hotel and Hospitality Business Coach Delivers ● More engaged, motivated employees ● Positive work culture ● Increased revenue and profitability ● Improved efficiency ● Increased competitive advantage ● Consistently outstanding customer service Get in Touch Tell us about a challenge or question you have. First name* Last name* Company name Email* Submit

Award Entry Writing Service We craft award winning entry submissions to get your business the recognition it deserves. Award Entry Consultants Our award entry writing service helps your business get recognised for all the hard work you do. We handle the whole award entry process for you from start to finish. Freeing up your time to get back to what you do best. Creating Award-Winning Submissions Your company has had a fantastic year. Your team has gone above and beyond. You’ve delivered outstanding service and developed cutting-edge solutions. You want your company and your employees’ hard work to be recognised, by both your customers and you industry. That’s where our award entry writers come in. Custom Award Entry Writing Award entry submissions can be along process, but with our award entry writing service, we’ll handle the whole process for you. This includes: ● Assembling the required documentation ● Interviewing stakeholders ● Planning and storyboarding your submission ● Scripting the second stage presentation (if required) We’ll Tell Your Story Our talented writers will learn about your business, so we can tell your unique story to the judging panel. We’ll highlight your incredible achievements and back it up with the hard evidence required. We work behind the scenes, so you get all the credit you deserve.