Lots of companies are considered great examples of fantastically built businesses. What makes them great? That depends on what criteria are used to define a company’s prominence. Think of it this way, great companies come in all shapes and sizes. They don’t even have to be global companies or large businesses. They might be small or large, but they all have several things in common that makes a good company get awarded the status of ‘great’.
Define their Company Culture
Company culture is the organization’s values, visions, norms, working language, systems, symbols, beliefs, and habits all working together to project an image that resonates with their employees and their customers. A great business has a cohesive company culture that clearly supports their business’s image. For example, a company with visible family values might close their offices on holidays and pay their employees for the day.
Possess Strong Foundation
The most successful companies have something that other businesses in their field do not possess as assets. For example, Burlington Northern has miles and miles of track they own. No one wants to build more railroad tracks, so Burlington Northern has a leg up on its competition. UPS has built a huge network. Because of the network, it has a monopoly on shipping, limiting the success of every other budding logistics company.
Hire Great Employees
The vision of a company and its properties are nothing without the workers. A great company makes an effort to hire only the best employees, retains them with excellent pay and invests in their training. All of these factors enable an employee to go the distance in their field. And they will likely stay and grow with the company, because they feel valued.
Choose Quality not Cost
Investing the company smartly is the purpose of upgrading equipment and developing new product lines. Choosing quality rather than the cheapest equipment will pay off with longer use of the equipment. While these concepts start with the company’s machinery, equipment and office supplies, it also extends to their products. The company, which offers great quality products will outlast the cheaply made ones. Customers will flock to the quality company after word gets out about the short life span of the product
Use Fantastic Workflow Automation Software
Your employees are valuable assets. Not giving them the tools they need to perform their jobs in the most efficient matter is the same as giving someone a trowel to dig a moat. PerfectForms offers one of the best workflow automation solutions available on the market. With PerfectForms, workers can build web forms, surveys or applications without any knowledge of coding. The forms, surveys and applications built by the workflow automation tool allows employees in education, human resources, financial investment firms and other industries to track, record and improve their workflow for peak efficiency. Great companies streamline their workflow, so they can reduce their expenses and use their employees wisely.
Great companies have a lot in common and it’s not just making ruthless decisions. A great company looks to the future by not only putting aside a nest egg for the downturn, but by looking for the best employees, focusing on buying quality (rather than cheap) materials, using a great workflow automation software, and establishing an amazing company culture. Which companies do you believe deserve a gold star and the status of great?