A business is no longer just about profit and shareholder value. The role of the business community has changed and global business leaders now talk about the role of business as the 3 P’s – profit, people and planet.
Today, your customers, employees and other stakeholders want and expect a business to be aligned with strong values and a ‘higher purpose’. Organisations that deliver on this promise create an energy that propels growth, while those that betray this principle will eventually pay the price, whether it’s consumer backlash when Starbucks avoids paying UK tax, or Volkswagen cheating on emission tests.
The fact is we live in an information age where transparency is inescapable. News, reviews, social media and analysis are being shared continuously and companies, products and brands are always under the spotlight.
Yet every business has to grow and create a profit to be sustainable. In recent years we’ve seen a new kind of business; a Tiger business. Tigers are characterised by rapid year-on-year growth, strong profits and positive cashflow. They introduce products, services or technologies that are better, faster, more desirable or more convenient and they communicate this brilliantly with their audience.
Yet at the same time Tigers are supporting communities, investing in projects that benefit society, inspiring and developing their people and taking active steps to improve the environment.
The Business World is changing
Business is now evolving faster than any time in history. Building a successful business, maintaining growth, generating sustainable profits is more complex than ever. A business plan can’t be set in stone. Dozens of factors can send your business into a spin overnight:
- Technology and innovation
- Social and economic factors
- Environmental factors
- Political change and legislation
- New competition
- Consumer demand
- Brand loyalty and marketing
Business leaders can no longer live in a bubble; we cannot assume that what has worked in the past will work in the future. Tiger businesses never stand still, and neither do the people who lead them. Business leaders need to grow and develop themselves and their teams.
Connecting with other business leaders, spotting the latest trends and being aware of economic, social or political changes can keep you ahead of the curve.
With the launch of the Business Leader Summit in May 2016 CEO’s, company directors and senior managers have a new platform to gain the latest insights that will impact their business whether operating locally, nationally or internationally. The event is set to be the most influential and important gathering of business leaders ever organised in the South West.
The business world may be evolving and changing faster than ever; but for visionary leaders it presents greater opportunities than have ever existed before.