Business management is akin to juggling. You have many balls up in the air at the same time and you can’t drop any of them. If you drop at least one, you have ruined the performance. The audience will not like what they see. That is true even if you still have the other balls under your control.
And in business management, some balls are often neglected. Perhaps some managers think that even if these balls are dropped, the audience won’t mind. That they won’t see the difference. And that’s where they are wrong.
Here are some aspects of business management that are often neglected. And that’s to the detriment of the organization.
This is most applicable to businesses that produce toxic waste such as hospitals. The last thing you want to happen is to be slapped with a legal complaint from your county’s environmental office. Should you lose in such a case, your license to operate might be revoked.
That risk can be mitigated by having a reliable medical waste management system in place. This system should be a core aspect of your business plan.
Health and safety
As of late, we have all realized the importance of imposing strict health and safety standards in areas of business, including offices. The things we have learned should keep informing our decisions related to this matter in the future.
We are all fragile creatures. Yes, even your most hardworking and resilient staff member can succumb to an illness or accident. The workplace should always stay as safe as possible. And that can only be done by strictly following health and safety protocols. These protocols should be in writing and not issued like intermittent whims from management.
Building and equipment maintenance
This is closely linked to health and safety. For example, if your workplace has poor ventilation, harmful viruses become concentrated and will be quick to infect your staff. Or your poorly maintained HVAC system might one day overheat and put your entire office at risk.
You need to have a building and equipment maintenance calendar. And it should be followed religiously.
Keeping your existing employees satisfied will be much cheaper than having to hire replacements again and again. The cost of hiring, regardless if it’s outsourced or done internally, adds significantly to your overhead expenses.
With that in mind, you must prioritize employee satisfaction. Keep those surveys coming. And listen to the results of those surveys.
Moreover, advocate for a culture of open communication. Do not get caught up in the traditional way of running a business where there’s a strict hierarchy and where upper management does not get to talk with those from the rank and file.
Corporate Social Responsibility (CSR)
Corporate Social Responsibility or CSR helps a business become socially accountable to the people and the environment. Even if you are juggling multiple balls at the same time, you can stay focused and in control. You just have to master the art of delegation. Once you got that down pat, you’re then juggling by proxy. And as a leader or manager, that is the bulk of your job description.
So delegate the tasks in this list. And delegate them well. Remember that there are no shortcuts in business management and even what seems like the least important aspects of running a business do have their impact, especially if neglected.