Balance Your Business Scorecard 5

Does the market value the environment? As active stakeholders we can start this evaluation simply by identifying if an organization is taking active steps to improve their environmental performance. The action itself, hopefully yielding positive benefits, is the key to balancing the business scorecard.

Let’s take a brief look at the concepts needed to accomplish this task and ways to stay better informed:

  • “The triple bottom line (TBL) […] consists of three Ps: profit, people and planet. It aims to measure the financial, social and environmental performance of the corporation over a period of time. Only a company that produces a TBL is taking account of the full cost involved in doing business” (The Economist).
  • The “life cycle analysis is a technique to assess the environmental aspects and potential impacts associated with a product, process, or service” (Environmental Protection Agency). It’s accomplished through environmental accountability, evaluation, and interpretation.

Combining triple bottom line with the concept of the life cycle analysis, an organization can look at environmental imprints at each level of the supply chain.

Let’s look at the basic supply chain to bring it full circle.

  • Raw Materials => Manufacturing => Wholesalers/Retailer => Consumer

Management is able to integrate improvements at each level, maximize outputs, and conduct risk analysis. Inefficiencies can be identified and ethical decisions can be made. In some cases it can reduce regulation.  Ultimately, it creates a more efficient and sustainable business model. It’s essential for the ecosystem and essential in the business environment.

Delegate Tasks; It’s R.A.D 2

Whether it’s due to conflicts of interest, personality clashes’, or just wanting to get the job done right, delegating tasks can be a hard concept to implement in a team setting.  A wise man once told me its hard 80 percent of the time, all the time.  Well, maybe not exactly, but it shouldn’t be that complicated.  Working within civilian & military teams, both as a team member and team leader, I’ve found delegating tasks easiest when responsibility is given, accountability is held, and a clear direction was given. I remember this acronym as, it’s R.A.D. It has been an influential factor in bettering my planning processes and has positively enhanced my time management skills.  Let’s take a quick look at each key element:

Responsibility:

You are creating an obligation and calling upon a team member to take action.  We are all familiar with our own external responsibilities, so creating an internal responsibility generates focus on the task at hand.  Subsequently, it should always be a two way street between subordinates and the team leader.

Accountability:

Hold team members to their actions.  It reduces anxiety, lessens the want to micro-managing, and ultimately ensures the task gets done. Making a checklist, see my blog “Check Yourself Before You Cost Yourself”, can be a great tool to ensure accountability. Members can check off tasks as they’re finished.  Combine this concept with the internet, checked off tasks can almost be seen in real time.

Direction:

Make sure it’s clear. Accordingly, take into account different personalities; presentation and demeanor may change from team member to team member. As we know, good communication is a factor found in any successful relationship. When clear direction is given, team members recognize the task and embrace their responsibility.