All businesses, regardless of size and sector, are exposed. Risks, disruptions and distractions abound. Influences rather than influencers are impacting individual entities in significant ways.
Competition is intensifying. Substitutes are emerging. Supply-chain issues persist. Global networks are fracturing. The nature of each and all is direct and immediate.
IT IS CULTURAL
Foremost among the marketplace influences are the cultural-based, value-driven aspects of ESG – that is, environment, social and governance. Corporate social responsibility in isolation does not embrace or articulate the comprehensive, if not universal character of those three factors.
ENGAGING ENVIRONS
Consumers, employees, associates, governments, and the media have developed sensitivities about the importance, consequences and potential advantages and disadvantages of the broader concepts.
Responsible product and service sourcing, with minimal impacts on the environment and ecology, has rapidly become a fundamental primary criterion applied at large for company, product, service selection.
Undertaking such initiatives should necessarily be complemented with promotion, articulation, and reinforcement of such facts. That dimension alone surpasses price sensitivity and contributes to acceptance of any suggestion of “price premiums”.
The principles are applauded by an overwhelming percentage of team-members. It enhances pride, reduces employee attrition rates and both deepens and broadens brand-name virtues.
Active involvement of shareholders and the information of collegiate arrangements creates scope for increased transparency, accountability, and authenticity.
Doing things right and doing the right things matters in the current marketplace. They are key influences.
SOCIAL IMPORTANCE
Providing a safe, positive and enjoyable workplace attracts attention, admiration and interest. It is a catalyst for effective staff recruitment and retention.
In short, it is a good reason for people “to get up in the morning”.
“Peace-of-mind” is an understated presence among clients and customers, who seek value. Likewise for employees, women in particular.
Dress-codes, language, training, recognition, respect, and celebration are all part of the fabric of a compellingly attractive culture and purpose.
CHANGE THE FOCUS
Marketers in particular are inclined to promote and value exclusivity. “Dare to Be Different” has been a long-standing call-to-action. Rightly so.
Endeavours to establish and sustain relationships are best implemented based on inclusivity. Involving, engaging, and encouraging stakeholders is a social driving force, and often purpose.
Consistency and continuity of such contributes to stability, adherence, repeat business, loyalty, and referrals.
Where possible, include – and don’t exclude. The returns are appreciable, cumulative, and potentially, exponential.
The social aspect of commerce has many layers.
HOLD ON GOVERNOR
Governance is not and should not be contained to the c-suite and corridors of power. True leadership provides vision, direction, focus, belief and above all understanding. It is all encompassing and embracing.
Commitment by all ‘to values’ of a business, entity, community, and nation ensures cohesion, self-belief and resilience.
Open cultures and societies facilitate contributions, refinements and understanding.
Top-down management and decision making have been marginalised in the prevailing setting. Ownership of decisions and actions is universal. Everyone is accountable, and therefore, more inclined to be responsive.
Titles count for little in a literal horizontal organisation structure. The focus is not on processes. Outcomes count and are accounted and rewarded.
EMPHASIS
Rightly so, each variable addressed in this text has been and is addressed in most operations.
Some have been deployed adroitly, to the advantage of companies, products, services, and applications. Moreover, certain components have been sustained over extended and varying periods of time.
The issue at hand, and the challenges confronting business leaders, owners and managers is determining the emphasis, sequence, and importance of those variables.
Dynamics and fluidity in the broader economy is dictating the need for ongoing review, refinement, prioritising, and reinforcement of those influences.
In reality, the key determinants, and value-judgments are the province of existing, prospective, and past clients/customers. To that extent, they are influencers. However, their influences are more omnipotent, conspicuous, and telling. Their advantages, benefits and rewards are best qualified in measures of value, itself a subjective noun.
Barry Urquhart
Customer Service Specialist
Marketing Focus
M: 041 983 5555
E: Urquhart@marketingfocus.net.au