WHAT GOOD BUSINESS MEANS TO ME?

from the perspective of a University Graduate

Written by Rhiya Dyal

Leaving University has provided valuable experiences while also gaining qualifications, independence and discovering what kind of person I aspire to become; obtaining a degree in Accounting and Finance, then to study a Master’s in Management put me on track to start a career in the finance/management industry. A good business that looks after its employees will reduce its labour turnover, job-related stress and resultantly lower the number of sick days due to stress. The members of the organisation who feel engaged and motivated will increase productivity by 13% (University of Oxford, 2019); a happy workforce overall improves performance but also enables a blissful work-life balance. Therefore, to define a good business in my opinion, means an organisation who will proactively seek sound welfare of its employees and who place importance becoming a collaborative diverse environment.

A good business would be seeking to make profits from the needs of the consumer, it is a good or service that supplies consumers long-term, whereas the desires, from a capitalist point of view, disregard the sensible and will satisfy the short-term. There must be sound organisational structures to enable effective communication within an otherwise complex system; a set of values can provide an insight into the atmosphere of a workplace. Incorporating Corporate Social Responsibility (CSR) keeps organisations socially accountable while trying to maximise profits, the model seeks to minimalize the effects on the environment and support volunteerism. It is vital to adopt this approach to positively market an organisation’s image, causing an increase in the number of recruits hence a more skilled workforce to improve company performance. In larger companies, CSR is reached by installing renewable energy sources or purchasing carbon offsets. Whereas for smaller companies, they can participate by donating to local charities or sponsoring local events. CNC Robotics, a SME (Small Medium Enterprise), assimilates this model by supporting/sponsoring schools in the Liverpool area through interactive events that inspire young minds onto pathways into robotics. Through an event they were able to take on an apprentice who showcased qualities and values as shared by the company; this conveys the commitment to nurturing talent within the Liverpool community. The way CNC Robotics are enabling change for the better is through sustainability, they are actively pursuing accreditation in Environment Management Systems (ISO 14001), where it provides a systematic approach to measuring and improving an organisations environmental impact. They understand the importance of being socially conscious which to me merits a case for being a good business who ‘level-up’ the region.

To attract attention, an organisation could showcase their commitment to reducing inequalities – eliminate the gender pay gap within their company, inclusive bathrooms for all gender identities, equal opportunities for everyone. We live in a society where these aspects are highly regarded, and businesses must be progressive to survive, the indication of acceptance to diversifying the workforce will aid in their growth. A solution could be to pledge to reach a quota or committing to include people of colour and women at senior roles, as research shows a more diverse organisation yields 19% more revenue (MarketWatch, 2020); women executives have been proven to outperform companies by 25% in 2019, and ethnic diversity proved to result in 36% more profitability as reported from McKinsey (2020).

The festival highlights the importance of charity, raising funds for the community as a non-profit which in 2021 is imperative due to the ongoing effects of the COVID-19 pandemic. The funds go to those most vulnerable in the society who have been affected by the pandemic. Caring for those most in need is indicative of society’s health overall, it displays humanity as still compassionate and presents hope for the future.

For information on how we can help you with robot-driven additive manufacturing see our Additive Manufacturing page

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2021-06-10T10:51:04+00:00
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