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Business Literacy in Action Part 4

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Business Literacy in Action Part 4

In Part 4, we will share more ways for you to accelerate what you are already achieving into best practices and a case study.

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One of my favorite books is by David Campbell, If You Don’t Know Where You Are, You’ll Wind Up Somewhere Else! It is a take from Alice in Wonderland when the Cheshire Cat asks Alice where she is going. She answers she does not know—then the cat says, “Then it doesn’t make a difference what path you choose.”
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This idea of knowing what direction to follow is in line with Business Literacy. When I am invited into a company, I include conducting a gap analysis and an overview report on the flow of operations and communications. This documented flow is critical for success and accuracy within a company. Also, it provides a “hard edge” and concrete data to company people with styles that seek numbers or lists. By documenting flow, it is important to identify what is being measured.
In my experience, many companies are measuring elements that are not the issues that will improve the flow. Often, they are conducted to confirm what senior management wants to believe and proves that point with data. We call this a confirmation bias.
Pursing a confirmation bias exercise can be costly and interruptive. A recommended start to developing an appropriate metric is to survey all people who touch the business including outside vendors and providers.
Here is a simple start your survey:
1.    How easy is it to engage with (Company Name)?
2.    What do you expect when you contact (Company Name)?
3.    What is the impetus for the audience to do business with (Company Name)—Price, location, delivery options, responsive service, convenience, other ______________________.
4.    How does the company communicate with you?
5.    How effective is your website to deliver on your promise?
6.    When was your last operational review conducted?
7.    Putting yourself in the customers’ shoes, what does your audience need to know to do business with you?
8.    What are three things that will demonstrate that the company hears you?
9.    What is the objective of your tracking mechanism?
10.  How will you announce the launch to your team?
11.  Where do more than 75% of resources flow?
12.  What mechanisms are used to connect your strategic plan with business goals?
Keep the focus on your over-arcing goal, which is to create a Balanced Scorecard that will drive action toward a desired outcome.

Now take a step toward introducing Business Literacy into your company or organization. Let’s discuss a plan of action that will work for you.-MC

Review:
In Part 1, we introduced and defined Business Literacy™.
In Part 2, we pointed to building best practices and how to begin that process.
We linked it to continuous improvement across the business enterprise.

In Part 3, we discussed “how” you we can accelerate what you are already achieving into best practices.

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