Issue 12 2020

Issue 12 2020 7 aligned, actions by company personnel generate certainty and trust in clients which leads to business success. A lack of trust by clients and customers is the most common source of business failure and this is obviously reflected in the bottom line and market value. There are two types of branding, branding by association and branding by results. Individuals working for a company are branded by association with the company’s reputation. In turn, the company is branded because of how those individuals achieve results with customers and how satisfied a customer is about the way in which employees in the past have represented the business. There is, therefore, a closed loop between them. Senior management must get out of their silos, be visible and fully aware of what is happening on the shop floor. For successful branding, all employees have to be customer based and service orientated. It is through listening that we develop an understanding of what the customer wants and needs, so mechanisms have to be in place to process feedback as well as analysing and acting on trends. It is this analysis that impacts business success. At the end of the day businesses succeed because their customers are successful. The brand of a company has to be nurtured and protected, which is one of the prime responsibilities of a CEO. Branding starts with defining how a company wishes to be perceived, organising the business, communicating that promise with consistency and being accountable. Branding helps customers relate to a business and is the prime marketing drive because it gives a pre-set understanding so customers know what to expect and they will always expect what they know. It is all about credibility, consistency and through them the generation of trust. Conclusion Corporate excellence does not happen by accident. Concepts of excellence change since they are in the eye of the beholder. Therefore, corporations must be constantly looking for both internal and external feedback on how to make their offering better, faster and more efficient, to increase profit margins and ensure the ongoing success of their customers. The three pillars of corporate excellence are found in the vision, culture and branding of the company. It is the duty of the CEO, management and all employees within the organisation to ensure the highest quality of service and product delivery. This can only happen if everyone has a similar value system with a pride in the company and its vision. To avoid complacency and ensure progress, companies need to constantly change. This may require shaking up what is delivered, redefining it and then solidifying the systems again. For many companies, the changes forced by Covid-19 can have a positive benefit in terms of future success, provided there are systems in place to support the staff teams and protect the culture. Throughout history, those companies which do not pivot to stay relevant in the changing environment will not survive. The sky is not falling in, it is opening up for opportunity. All it requires is the right mindset, skillset and action plan. Mr Rodney Peyton, OBE MD is by profession a trauma surgeon and also an entrepreneur and businessman. He has more than 30 years business experience with property portfolios and a range of investments across the UK, USA and Australia. He is an author and international speaker on business issues. This feature article is based on a recent keynote address given at PwC Headquarters in Dublin, Ireland. For his availability to speak at your corporate events, he can be contacted at [email protected]