The achievements of an organization are the results of the combined effort of each individual.
– Vince Lombardi, Football Player, National Coach.
With each passing day numerous companies are registered across the world that is built around ideas that promise to be unique. How many of them actually go forward and register themselves in the mind of people is an enigma. It is comparatively easier to open a business or company rather than actually making it work which requires more than just hard work and plain luck.
The News Makers
Most of the prolific business magazines build up their list of businesses that they find admiring every year. Some people agree to it and several others differ. This also raises the question as to what makes a company truly admiring. Is it the work culture, the people, the management, the infrastructure or all of them? Given the diversified category of companies one can admire, it is hard to put one’s finger on one single trait. Instead, what we can ponder over is a set of characteristics and a company’s way of working that can help it in becoming an admired company.
Sneak Peek into the Making
So here’s what one can expect from a great company.
Core Values and Ideas of a company define it. They form the foundation of the company’s brand and find an encore in its actions. Their ideas are strong enough to shape the competition, the employees and the customer. The values and ideas must be communicated to all the stakeholders including customers through words and actions. Staying true to the core values will inspire everyone involved to stay true even in difficult times.
Focus on Long-term Goals is another characteristic. In this fiercely competitive, fast-paced and changing world, it is tempting and easy for a company to change its strategies, policies and goals based on the current trend. While that may prove beneficial momentarily and monetarily, it does no good to the brand creation. Being confident of its own values, ideas, and goals creates a culture and a positive collaboration between all stakeholders and empowers the company to make meaningful decisions based on long-term goals and prosperity.
Empowered Employees are the strength of an admirable company. It is important to hire quality people, even if it means paying more for them. It is then equally important to empower them, assign responsibility, train and provide the necessary tools to them to have them give their best. Taking care of individual needs, giving employees a space to prosper and helping them in managing their work-life balance puts them in a position to succeed and enrich the company.
Customer Experience is imperative because ultimately it is the response of the customers that make or break a company. Good customer service, long-term client relationship, economic value for customers, being memorable is all building blocks of an admirable company. Customer satisfaction should be measured regularly and those able to delight them should be rewarded suitably too.
Handling Social Responsibility by a company impacts the way the society and customers perceive it. Supporting the community, government, and environment is as important as raking profits in today’s world. Being in touch with the community lets a company understand its problems and give ideas as to how best can the company help create solutions.
Creativity and Consistency are another set of key characteristics of an admired company. An admired company looks to itself and the surrounding to create new ideas, solutions and innovations which are a first for the world. It doesn’t give in to the pressure of outside world of recreating things and solutions that are trending. It is capable of holding out on its own.
People admire a company based on different reasons including nationality, products, the usefulness of products, interactions with the company, and societal preference. It is a matter of perspective. But the mentioned characteristics reverberate across the barriers. A company’s image is a sum product of its activities, solutions, employee satisfaction, customer satisfaction, societal responsibility and more. Each feature adds to or subtracts from the overall performance of the company. While it’s easy to identify and understand what is to be done in order to be admired, the difficulty lies in actual implementation and holding on to them. Once a company gets past those teething issues, there’s no stopping it in being a subject of global admiration.
- Sneha Sinha