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Nov 30B2B CFO

Accountability

Nov 30B2B CFO
Accountability-Running-a-Business

“Accountability”

The 4th of a 4 Part Series on the Key Focus Points in Running a Business

In a recent post, I mentioned the 4 key ingredients in a recipe for small business success and talked about the importance of Cash Flow- “Cash is King”, Strategic Planning the value of Information vs. Data.

  • Cash Flow
  • Strategic Planning
  • Information- not data
  • Accountability

Accountability

Accountability is not a bad word!

There are many ways to define accountability, be it ethical, moral, fiscal, economic, etc , no matter how categorized, accountability is:

–        The obligation or willingness to accept responsibility or to account for one’s actions

It seems simple but not as common as you would imagine. Everyone in every company should feel and be accountable for their time, effort and contribution to the success of the company. Good hiring practices are key however not fail-safe. Good and open communication with everyone enhances the possibility for a strong and collective company culture (my CCC).

As a college student and line employee I began to appreciate the willingness of management to share information. Other than being paid, why should I care about my employer? I slogged cases and cases of pop up and down rat infested basements (remind me to not tell you about the contents of some empty bottle returns). That was what I was being paid for. However,  late that summer ,days after Elvis Presley died, our manager  had us all together for 5 minutes just after our standard  5:50 a.m. punch-in time, He told us that we may or may not be back next year with labor negotiations being stuck. I told him thanks for letting us know and will work harder than before to help the company.  Consequently our relationship and trust became stronger. It made me feel more accountable because I knew more and consequently, I worked harder, longer and happier hours. Notice the word “happier”.

Accountability is not a bad word!

I hope you enjoyed my discussion on the 4 Key Focus Points in Running a Business!

 

Dan Makuch, CA

photo credit: United Workers Spring Retreat 2014 via photopin (license)

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