The second question is somewhat related to the first, in the sense that you need to focus on specific areas of your business that have the largest potential for increased happiness and develop a particular vision to work towards in each of these. Certain parts of running a business aren’t particularly glamorous, but they are still essential; these might be the areas where productivity is lagging, since they don’t involve the most stimulating or motivating job description. Increasing happiness in these often overlooked areas might mean a big boost in success and happiness for the entire company.
It is important to never ignore a section of your business structure, especially a fundamental one, simply because it is behind the scenes or less directly applicable to the overall product or endgame of your company. Trying to improve the happiness of the largest percentage of people involved in your company is a natural and appropriate approach, but it might not be the correct one, based on simple fairness or situation specifics.
You should never ignore the people outside the company, namely, your customers or clients. Are they happy? Are they flocking to you or slowly slipping away? Are your behaviors that affect the world at large something that make people respect you, or do they merely accept you as a necessary evil? Company happiness also describes the happiness and satisfaction that your company inspires in people who never receive a paycheck with your signature. You need to consider how your company affects different segments of the population. Does your product or service isolate, alienate, or exclude any group of people for any reason?
Certain industries clearly appeal to specific demographics of the population, but is there a way to broaden that appeal? If your company has done a good job of staying in society’s good graces, how can you spread that message? Exploring different, more all-inclusive technologies and products is one way to increase awareness of your company and what it stands for. However, looking inwards is just as important as expansion; pay attention to any complaints you might receive from existing customers and isolate those areas of your business that receive the most negative feedback. Fix existing problems before creating new options; as any business theorist knows, it is far less expensive to keep an existing customer than to recruit a new one.
As for stakeholders, they are generally considered as a whole, but often certain invested individuals are more active or vocal in their participation. Those individuals or groups that want to play an impacting role in the company should be allowed to contribute. If necessary, create a subgroup of shareholders who want to be kept in the loop in a way that goes beyond quarterly meetings on profit and loss. Innovative individuals come in all shapes and sizes, and no one will be more interested in success than people with a monetary investment in your company’s progress.
There is no telling where a new idea could come from, so allow those stakeholders who prefer a hands-on approach to participate in the creative or developmental process and policy-making of the company – within reason. They will feel more involved and this in turn will help build their trust in your company. They will feel secure in the knowledge that the financial investment they’ve made with you is being properly respected. Learn more about the areas where happiness is required, only at the University Canada West, one of the best universities in Canada, offering various business and management related programs.
