These have been tough times for most businesses with COVID-19 impacting industries globally.
A lot of our clients, however, are surging on, because they invested in the right initiatives and prepared for the worst much before it got to that point.
We are proud to share that our certifications have assisted our clients to have management system processes (like risk assessments etc) in place that allow them to handle adversity well before they develop.
And that is precisely the nature of standards – they allow a business to continue with confidence and clarity so they can keep serving their customers.
Business continuity, industry standards and COVID-19
Picture this: You order food from a restaurant to be delivered to you during these crazy times. You then call them again and ask if they are following the cleanliness standards that you would expect any business in the food industry to follow – what if they say no, would you be comfortable eating their food?
There aren’t too many planes in the air right now, but in a pre-COVID-19 world, would you like to fly in a plane that does not adhere to safety standards?
Business continuity = competitive advantage
Your business might or might not be subject to regulations. Regardless, if you can demonstrate that you comply with standards then you are communicating to customers, suppliers, your employers and others that you mean business. That you take your responsibility seriously.
And that is a powerful message because business continuity is the big competitive advantage right now. Adhering to standards allows you to have a roadmap and higher chances of successful program implementation.
Adherence to standards = employer branding
For some, this has been an incredibly difficult time with many employees being laid off and the job market shrinking in size. Employees are not just concerned about putting food on the table, they are concerned about going to work, fearing that they might be exposed to serious health risks.
When you are accredited you are conveying to those who work with you that you are thinking of them and their safety. Additionally, they are very clear on the process that need to be followed during these times.
Business continuity analysis = Actionable insights
Business continuity analysis often yields large amount of data, which the smart companies then distil for actionable insights. This in turn helps them to make key strategic decisions at a rapid pace, if necessary.
Think about all the businesses who have managed to pivot overnight or to those who have come up with outside-the-box solutions to the threats they face in lightning quick time – this comes down to them using the data on hand to drive action.
2) The story of John and his boss
So, the other day John was called in by his boss and was tasked with finding a certification company.
John contacted three companies and had an interesting experience. It is probably best we let John tell you in his own words.
3) The economic benefits of Standards
There are three key economic benefits of adhering to industry standards according to the International Organisation for Standardization (ISO).
Increased efficiencies from internal process of a company
It is no secret that one of the main levers for cost management is to make internal processes more efficient.
This could be in the form of reducing time required for tasks, waste management, procurement cost management and productivity enhancements. All of this will naturally impact on the profitability of the company.
In a COVID-19 world, staying profitable, even if the margins are lower than usual will be a key success metric for many businesses.
Innovation in business processes
Innovation has often gone hand-in-hand with the growth trajectory of a business. Innovation within a business process context can mean the introduction of new products in a systematic and managed process.
This can also result in compressed timeframes allowing a business to compete effectively. From a risk mitigation and management perspective of new product, standardization has been known to play a role.
Alternatively, innovation can also result in expansion of supplier networks, which reduces the limitations certain businesses tend to face.
Creating and entering new markets
Penetrating new markets has often been a key part of a growth story. Numerous businesses have successfully integrated their standards as a means of introducing their products (old and new) to a completely new geographical segment.
Adherence to industry standards have boosted revenues and customers, allowing businesses to significantly grow their market share.
Ansoff Growth Matrix
Below is the famous Ansoff growth matrix and the industry standards we assist our clients with achieving, play a role in every quadrant.
Contact us via email (email@example.com) or phone (1800 024 940) to see how we can provide certifications that allow your business to not just continue, but grow in this challenging phase.