fHP7vUGQROfUEd43JkNp Andrew Signature black

THE BLOG

Welcome to Innovate Africa With Dotun Adeoye

Infinite, sustainable growth ideas and examples for strategic thinking executives every Sunday

THE BLOG

Innovate Africa With Dotun Adeoye Every Sunday

Infinite, sustainable growth ideas and examples for strategic thinking executives every Sunday

4 WAYS

4 Ways global brands stay accountable

Introduction

4 ways highly successful global brands stay accountable. There is a consistent accountability thread across highly successful global brands in a world where things seem to be in chaos.  These companies – from international banks and airlines to tech giants and health insurance providers – offer products and services across industries from different perspectives and contexts. . This article will explore four ways these organisations stay accountable:

Communicate accountability to the public.

Customers expect transparency and accountability from brands. Global brands stay accountable by continuously doing the following things.

  • They are communicating and being accountable to the public.
  • They listen to customers.
  • Multichannel communications and updates with customers
  • Continuous customer feedback and engagement loop
  • They consistently create products and services based on the voice of the customer.
  • Sharing updates and information around the clock
  • Communicating in a language understood by the customer; always ensuring their communication is multi-lingual

Continual accountability and transparency with employees

You can’t be accountable to your customers if you don’t hold yourself accountable to those around you. This includes employees, who are often the backbone of an organisation.

To ensure employees feel comfortable raising concerns or issues, provide a culture of trust and transparency within your team. Employees should know what is happening within the organisation and what is coming.  One of the  4 ways highly successful global brands stay accountable is a consistent stream of mutual communication between the employees and the organisation. Employees are always kept abreast of things happening within this organisation.

Employees are also allowed to thrive and grow within highly successful global brands. A culture of innovation becomes the company culture. Openness to feedback is consistently encouraged.

Consistent accountability with investors

Shareholders want to know that the organisation is doing what it says it will do. Highly successful global brands stay accountable to investors by consistently engaging with current and potential investors via the investor relations team.

Highly successful global brands stay accountable to their investors in the good and bad times, thereby keeping their investors for the long haul. An entrenched level of trust makes investors continue to invest in these companies.

There are ample examples of investor relations in highly successful global brands that can serve as a detailed case study for medium companies aspiring to scale.

Ensure compliance with regulators.

  • Ensure compliance with regulators.

Regulators may be internal, external or both. They can be government or non-government, depending on your industry. Regardless of which type of regulator you must answer to, you must stay accountable for your brand’s actions and measure their impact on society.

Highly successful global brands stay accountable to regulators by attracting and retaining the best brains in compliance and regulatory affairs. All the companies my team surveyed across various industries have dedicated teams whose job is to ensure the company stay accountable to regulators.

Medium companies looking to scale can learn from the example of these large companies. 

Organisations must be accountable to their customers, employees and other stakeholders.

Accountability is essential to any organisation but particularly crucial for global brands that work tirelessly and smartly to remain highly successful.

The first step in responsibility is understanding your stakeholders and how they want to be informed. For example:

  • Customers want to know what you’re doing to improve the product or service they use daily. They also want reassurance that you take their concerns seriously if there are problems with the product or service they receive from you.
  • Employees need clear direction on how their work fits into the greater scheme of things within an organisation so they can feel like their contribution makes a difference (and will stay motivated).
  • Investors generally want publicly-traded companies that are highly successful because these types of companies tend not only to have strong financial performance but also suitable governance structures in place, which help ensure transparency between shareholders and management teams.

Bottom Line

I  hope this article about 4 ways highly successful global brands stay accountable has given you insight into one of the 17 habits of highly successful global brands. Ultimately, it all comes down to consistently maintained habits that have become the culture and value within these organisations. Most importantly, they are consistent with these values across all stakeholders and remain transparent about their performance at all times.

Who am I?

I am Dotun Adeoye, a Business Growth Strategist & Author

I’ve built up my experience via serial entrepreneurship, consulting leadership roles in business growth, business development and product innovation in large companies worldwide in the last 30 years.

Today, I consult with large businesses on how to sustainably grow their businesses, sustain infinite growth, and ensure business continuity irrespective of the business climate.

Hire Dotun Adeoye to Speak Virtually or In – Person at your company’s event to cover this or other topics. You can also get in touch via +44 203 097 1718 or dotun at dotunadeoye.com

Facebook
Twitter
LinkedIn

Add Your Comment

Innovate Africa

With Dotun Adeoye

Every Sunday

DAWS 5

 Teaching business leaders how to grow their businesses & leave their legacy.