BUSINESS/ GARDEN STATUS REPORTS...

                                    

So, how is your garden (business) growing?

We started the COVID A.C. blogs with references to taking the time to weed, prune and replant your business.  Let's take a moment to see how you are growing….

What has survived the drastic measures taken to renew, strengthen and grow?!

Your business plan was dusted off and you took a look at how/why you started your journey.  What changes did you make:

Staffing:                - this was a huge factor in the business world.  Between February and April over 14 million Canadians became unemployed.  

-          As a business owner/manager we take things personally and I know you struggled with these hard decisions.  Please don’t beat yourself up about what happened.  It was out of our control.  We have to remove the pest (COVID) before we can strengthen and grow!

This was a good time to look at everyone’s roles, processes, etc and see if there are ways you can improve.

Services/Product             - how have you improved? 

-          Have you reduced stock?  Is stock still available?  Break downs in the Supply Chain have affected all areas of life.

-          Did you move to an online presence? Keep it up! Even with restrictions slowly being eased people will not be flocking to the stores in the same numbers as before.

-          Did you remember to Thank your customers and Employees? Kindness and respect makes the best soil conditioners…

Goals                     - Are you still striving towards the same goal?

-          Has a new opportunity shown itself?

 

You have survived!  Some changes have occurred but if you continue in this new direction then the harvest will be strong and plentiful!

Did you remember to record your changes?  Now we need to take these changes and put them into a more concrete plan.

As an employee I used to hate the Annual Review questions….where do you see yourself in X number of years?  But as a business owner that takes on such an important role!  Think of this as the crop rotation plan!  How are you going to stay strong? Improve your soil (basis for all crops)?

The drum roll please …..A Strategic Plan!

This is like your business plan but on fertilizer!! Your business plan was for the here and now.  Setting up the processes, markets, etc.  You planned and seeded the garden.  Now you need to look at guiding your business towards your long term (2-5 year) goals and establish the steps necessary to attain them.

You know the processes, the market, the supplies, and the staffing of your business today but the Strategic Plan takes it that one step further.  It is a challenge to review markets and review if projects are falling within the parameters of your visions and objectives.

Strategic planning allows you to capitalize on your strengths, take advantage of opportunities and become more forward-thinking…Forward thinking is hard today, but if we don’t keep looking and moving forward we will go nowhere.  Having a plan and changing it as things change is much better than not having one.  It is easier to weed and thin out then to try and start new plants in the middle of the season!

Just like a business plan this is not something done in an evening or on a napkin.  Look for resources to guide you through the process:  The Didsbury & District Chamber of Commerce has links to various resources: Your local financial institution; the BDC; Alberta.ca (https://www.alberta.ca/small-business-supports.aspx). 

And one last thing….don’t forget to include your Emergency Response Plan – you know the one you have been working in ….that little garden plot of perennials that once planted only needs maintaining and occasional pruning…

Share your garden/business success with us by Following the chamber blog and see how others have worked toward a strong harvest!

Business Ethics

eth·ics

/ˈeTHiks/

Learn to pronounce

 

noun

1          moral principle that governs a person's behaviour or the conducting of an activity.

"medical ethics also, enter into the question"

Similar:

moral code  morals  morality  moral stand  moral principles  moral values  rights and wrongs  principles  ideals  creed  credo  ethos  rules of conduct  standards (of behaviour)  virtues  dictates of conscience

o     

2          the branch of knowledge that deals with moral principles.

Elizabeth Luckman, Gies Business Institute Illinois, offered an interesting look at the effect of the virus and various business/commerce responses.  How to respond in an ethical way.

How do we approach this topic in view of today's Global view?  With the economy in a downfall and many businesses changing how they are working/producing, you cannot give one answer. 

Is this a time of either / or?  Do we just shut down and wait or do we just keep moving as though nothing has changed?

As you can see in the diagram above, there is an overlap.

Let's look at some ethical perspectives to see the effect of the 3 options.

 

1)    The UN Universal Declaration of Human Rights – gives everyone to right to work, be paid a fair salary,

2)    Fairness – people are treated fairly

3)    Cost-Benefit

a.    Basic rights + obligations – the role of business to respect Human Rights and freedoms within business

b.    Treat everyone as an equal – in Healthcare triage is used to assess, the sickest get dealt with first – in Commerce – there is an equal opportunity but the best are hired first.

Do we have to work to be considered worthy?

Thought:  Cost-Benefit finds economic well being outweighs the health of workers.  In a Utilitarian Moral, humans must always be brought into the equation. 

We need global commerce to continue living to the standards we have established.  Are we ready to sacrifice by changing that path?  Are we willing to do the jobs that we bring others into the country to do? 

On one side we say we must shut down to contain the virus and maintain health.  But if you are out of work statistically your personal health suffers; you spend less; long term financial health suffers.

On the other side, we say we need to keep business going.  No spending equals no production.  But it also puts people's health in jeopardy.

Are we willing to sacrifice going back to work or do we invest in healthcare?

 

The third option is the middle ground. 

 

In this option, we look at testing everyone; wear protective gear; and restart commerce.  Health is the main focus!!  If health is prioritized then the economy will follow. 

Paul Romer, Nobel Prize Economist has really advocated this third option.  This step back from the either / or allows for a possible solution.  If anyone of the aspects (sides) are ignored, then disaster! 

So many of these factors are showing up in today's world, where do you stand?  Post your reply, and follow the Blog to see where others stand.