BUSINESS/MANAGEMENT SPECIAL..ETHICAL FRAMEWORK

VALUE CREATION  A TOP PRIORITY  

All companies, whether they seek to make profit or work on a non-profit basis, need to have an ethical framework

    There is an underlying goal to be achieved, and it is fundamental that this be more than earning money and growing in size, else creating value is deprioritised.
    It is an unfortunate scenario that we often see senior executives unaware of the company's mission statement. In the few cases that they have encountered it, they are vague about the underlying principles of the very foundation their business is based on.
    In large teams, it is necessary to constantly unite individuals, so that their work is complementary to one another, working in tandem to achieve this greater purpose. It is thus recommended that the vision of the company be communicated often, as it is only too easy to run behind daily targets and deadlines without answering the essential questions of why and how. If we take the example of the armed forces, it is clear that all the soldiers are very passionate about the goal of the organisation. Even with the possibility of death, there is no fear.There is only efficiency, bravery and selflessness.This passion is a fruit of wanting to protect a nation, which is the goal of any army.
    The difference between a good company and a great company is a hardworking workforce that is passionate about their job. Here are some guidelines for achieving this:
>> DECISION-MAKING: When making a decision of any magnitude, apart from looking at typical factors like risk, potential revenue or growth, managers must question themselves regarding how this decision is helping achieve the company’s mission statement. Can it be modified to meet the same? There should be respect and appreciation to this; else there is little point in having a vision;
>> PEOPLE: Employees bring with themselves four kinds of actions when they come to work. The first and only involuntary one is their body, or physical being. The other three, however, are involuntary. These are: passion, talent and energy. Employees use these in a shrewd fashion, as they are also termed to be ‘discretionary’ energies. A clear vision that invites their use is a great motivator, as it unlocks levels of motivation that reduce the share of salary, replacing it with them seeing a change with significant effects and their individual contribution to it.
>> COMMUNICATION OF CAUSE: Great work by employees is typically a result of motivation. It is the desire to find one's role in an office of merit that drives groundbreaking projects and thoughts. While managers can provide the shepherding, the direction must come from the mission of the organisation. Hence, to have employees internalise it, this must be communicated not only on various occasions, but with energy and clarity.
>> UNITY: The synchronisation of teams is a great asset.With land, labour and machine being key assets in the 20th century, the new millennium laid an emphasis on innovation in business. People are the key to this, and therefore must be aligned to the same page.The company's vision is the guiding light to this, and therefore essential and indispensable.
    A company comprises of people, and all individuals ought to prioritise and focus.The scale to do so in the context of an organisation is even greater, as people work in bigger teams and on tight schedules, where they often need to be reminded of the bigger picture, or the organisational focus.
    The author, Rajan Kaicker is executive chairman
    and managing director of Franklin Covey India  TAS 121121