Expert View: What Recession?!
Shouldn’t businesses batten down the hatches, cut all costs as much as possible and weather the storm? To a practical degree; yes, but shouldn’t your operation be as efficient as possible anyway? Any further and you start eating into your capacity to do your job.
There is a perception that being a ‘good’ business is only PR and as such is first to go when the going gets tough. If this is you - you’re missing the point. Attempting to manage your company’s impact other than just financial ones shouldn’t be a bolt-on initiative or luxury PR but a reflection of your core values. Do these change when times are hard?
Every business (whether they like it or even recognise) is managing wider issues that effect its profitability. Social and environmental impacts are rising up the priority list of many small and medium sized businesses every day. More and more are compliance issues: many are opportunities.
A few years ago the hurdles you had to jump over to get contracts were around Quality Management Standards such as ISO 9000. Coming up fast on the rails are the environmental standards such as ISO 14001, and into the future social & sustainability Standards and Guidelines that are about to be unleashed.
As a practical indication of exactly what is coming, watch out for the impact that the London Olympics in 2012 has on anybody who wants a piece of that pie (including ALL sub-contractors). Have a look at the NW Olympic supplier registration site for more information: www.competefor.com. There is even a Sustainable Events Standard now (ISO 8901) so networking events are in their sights. Nobody is safe!
The media has confused the issue even further and I challenge you to properly explain the difference between sustainable development; corporate social responsibility; ethics; environmental impact; carbon footprint; social enterprise; Fairtrade; community; citizenship etc. (If you want the answers give us a call!)
Here’s why and how you can add value to your business at little cost.
Why:
• More profit! That’s why companies exist isn’t it?
• Reduced costs
• Differentiate – Stop killing your margins by competing on price. Be clever.
• Competitive advantage – does your competition have an impressive reputation?
• Increase staff motivation and productivity – fulfilled employees work harder and are less likely to leave.
• Lower environmental impact – play your part in addressing Climate Change. It is already happening.
• Consumers know more and will pay for a clearer conscience.
• It’s the right thing to do: Everybody wins.
How:
• Look at what you are already doing. Can you get more benefits from the good work you have done for years – free PR or maybe an award?
• Are you properly managing your energy usage, best tariff, efficiency audits, turning appliances off?
• Talk to your suppliers – get better deals, reduce packaging.
• Access new networks. There are multi-billion pound industries out there wanting to work with businesses with the right ethos (and reduced risk).
It’s not rocket science, just good business practice and looking outside your daily business radar.
David
