Page 16 - KZN Business Sense-11.5 - Lesedi Metsoamere-ABSA - eBook

A SCIENTIFIC APPROACH TO BUILDING

BETTER BUSINESSES

David White, returns value through “profit” to processes, and applications of the
Chairman, the business and its shareholders. framework are unique to each
BusinessFit SA Ongoing profit and shareholder enterprise, the broad critical focus
value creation require a well- areas are the same. Leaders are
articulated and purposeful strategy, responsible for building confidence
usinessFit that the enterprise vision meets the
SA an executable plan, appropriate quality assurance expectations of its
Bshares its structures, and alignment with specific target market, while staffing
measurement indicators.
scientific and systems guide the journey
approach to Energy, Momentum, and toward success and sustainability.
helping SMEs Leadership
build better The great business idea requires
businesses A great business idea begins in an aligned functional framework
by defining a latent mental state of potential encompassing all necessary
what energy within the entrepreneur. functional areas to create,
constitutes To propel the business forward, maintain quality assurances, not turn a motor. To drive business characterised by centralised
a “great this idea requires conversion to and distribute products/services momentum (kinetic energy) and decision-making, where the
business idea” and establishing a manifest flow of actions and effectively. The functional growth, an inspired workforce is “boss” directs activities and
sustainable governance frameworks activities that enable kinetic energy activities include areas such as: essential. creates norms in the business
to support the growth and (energy of motion). Professor ■ Human resources 2. Scaling Businesses (Medium
development of each enterprise. King of the King Commission of ■ Marketing and sales Purpose in actively attracting
This methodology is welcomed Governance suggests the leader ■ Finance the right people into the business Maturity): Often prefer a highly
support for entrepreneurs, must “blow life” into the enterprise ■ Operations creates a highly engaged workforce, structured organisation where
who are already catalysts for to overcome inertia and guide resulting in a sense of belonging, the leader, board, or governing
positive change, utilising creative its purpose, direction, and value ■ Legal commitment, and strong will to body can direct activities and
problem-solving and effective risk creation. ■ Procurement support enterprise imperatives. implement controls to ensure
management traits. The creation and conversion of ■ Supply chain This is achieved through: customer satisfaction and
financial measures are reached
Central to the BusinessFit these energies by leaders and staff ■ Technologies ■ Recognising individual 3. Higher Maturity: Achieved
Other
■
methodology is the recognition that members is referred to as “purpose, competencies and preferences when staff and teams begin
a “great business idea” is the only passion and will”. Without this Every business shares similar ■ Implementing appropriate to work together synergistically,
component of a business framework momentum, the idea cannot functional components, though behaviour enhancing reward focusing together on meeting
that is not duplicatable. Although be mobilised. This inspiration the detail, quality assurance, and structures customer, governance,
entrepreneurs may obtain business can derive from a deep-seated urgency differ based on the specific ■ Aligning enterprise and stakeholder, and sustainability
ideas from others, “authenticity internal sense of purpose, care product/service, market condition, individual cultures proactively expectations. This level
and self-propelled leadership” are for humanity, admiration for the delivery expectation, and technical ■ Defining individual and team is highly innovative, with
critical defining and energising actions of others, or a reaction to production requirements. contribution expectations leadership, the functional
enablers of the enterprise’s vision, injustices or a desire to improve ■ Defining business processes and foundation, and enterprise
making a “great idea” a defining, current conditions. Governance, Conformance, and customer expectation awareness culture focused expressly
executable, and viable business Leadership is vital for ensuring Measurements through staff inductions and on continuous improvement,
proposition. success. It encompasses both the Measurements are critical and team meetings customer satisfaction, building
BusinessFit provides “structure, initial vision (the great business common across every business. ■ Encouraging the value of a positive reputation, and
support and confidence” to these idea) and the confidence-building Outside of its core product or engaging diverse but like- ensuring the enterprise is
great business ideas, which is and driving components, such as: service creation, a business’s minded contributors regarded as an effective and
central to the purpose behind ■ Drawing together experience focus is to be productive, adding Everyone in the business needs ethical corporate citizen
value to the economy, society, and
BusinessFit’s five-stage Quality and expertise to know how to environment, while ensuring: to know the direction of the The great business idea and
Assurance process and Strategic create and deliver the intended business, be aware of potential enterprise vision remain the only
Blueprint technology. product or service ■ An ethical culture is established risks and growth opportunities, unique aspect of every enterprise.
■ Ensuring access to appropriate ■ Conformance responsibilities understand “what good looks like,” It is the critical component in
Defining a Great Business Idea resources (staffing skills, raw are maintained and ultimately know how their creating effective enterprises that
In the BusinessFit context, a great materials, capital, etc.) ■ Stakeholder expectations are contribution blends with others to meet and exceed customer and
business idea must align with four ■ Building networks to engage met or exceeded meet governance, stakeholder, and stakeholder expectations and help
critical business considerations: with potential clients, suppliers, ■ Creation of an effective sustainability expectations. solve community, national, and
1. Value creation to the economy, and service advisory specialists governance framework Enterprise Maturity Levels global challenges. Entrepreneurs
society, and environment ■ Establishing a well-diversified ■ Legitimacy and being regarded are encouraged to immerse
through products and/or and competent governing body as a good corporate citizen The final aspect in the journey themselves in their great business
services to support and guide decision It is standard practice for from great business idea to success ideas – focusing on products and
2. Business logic, which paves making enterprises to be constantly aware of and sustainability is recognising services that support economic
the way for a business-minded These confidence-driving aspects their internal focus on sustainability existing and anticipated maturity development, social upliftment, and
approach of leadership do not necessarily through ESG (Environmental, levels. Maturity levels influence environmental protection – and
3. Purpose, Passion and Will, need to be fulfilled by the business Social, Governance) and the effect behaviour and decision-making engage mentors to help build the
driving the idea to fruition idea originator but can be drawn of external sustainability influences and are critical considerations as necessary business frameworks.
4. An executable plan, based into the enterprise’s framework as on the business’s financial and other the business grows. A great business idea is just a
on market conditions, internal needed. In summary, a great idea functional foundation activities. Enterprise maturity is observed thought until you act on it, give
processes and controls, and not only adds economic, social, and Conformance is a major factor in three specific focus areas: it energy, and guide it to create
legitimacy environmental value and returns in confirming compliance and leadership, functional framework, something valuable. 
profit, but it also must have defined legitimacy, requiring effectiveness, and culture. While high-
Value creation is paramount, steps and processes for its route consistency, and discipline in
requiring the business idea to create to market and be supported by adherence to laws, regulations, and functioning enterprises can exist BusinessFit SA
Contact David White,
value for society, communities, leadership that brings its purpose, adopted standards, as well as the at low, medium, or high maturity T: +27 (0)31 767 0625 david@businessfitsa.co.za
and the economy, while ensuring potential, and intention to life. establishment and monitoring of levels, their management principles, E: david@businessfitsa.co.za www.businessfitsa.co.za
the environment and nature systems and internal controls. processes, and staffing engagement W: www.businessfitsa.co.za
must align to suit the enterprise’s
are not exploited or damaged. The Business Framework and capabilities and purpose.
Furthermore, the value-adding Functional Alignment Workforce Engagement and
idea must meet internal economic Beyond the initial idea and Enterprise Energy Maturity levels often manifest as
measures, broadly referred to leadership, the enterprise requires Energy is a priority within any follows:
as “business logic”. This logic a business framework to ensure enterprise; just as an uninspired 1. Lower Maturity (Start-ups,
ensures that once established and the best chances of success and workforce will not innovate or rise smaller family-owned/
implemented, the business idea sustainability. Although the policies, above challenges, a flat battery will managed enterprises): Often

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