What Is Business Personality?
The components necessary to structure corporate personality are generally the focus, assimilated information, decisions and work performed.
Companies are similar to individuals – and a personality profile of a company will include characteristics of inherent strength and weaknesses, values, the work environment, behavior under stress, ideal customers, how it manages change and the overall corporate culture.
Business personality represents how an organization perceives, interprets, assesses, evaluates and responds to existing and possible threats and opportunities in business. It is the composite whole of the people that make up
the organization – their behavioral interactions, values, images, processes and customs.
Factors Contributing To a Strong Organizational Personality
It is imperative for every growing and successful small business to have a strong outward focus on the target market, and an inward focus that fosters internal nurturing. The absence of equilibrium in these two vital organizational components can lead to huge medium and long-term challenges.
It is entirely in the interests of any small business to realize the strategic importance of investing time and resources for strengthening the core of the business, including employees, in order to develop a strong organizational personality. Some proven internal strategies that support the development of sound organizational personalities are listed below:
- A prudent, clear and well defined vision targeting growth
- Unambiguous operating requirements and internal rules
- Exemplary reward systems for financial and psychological rewards
- Preparedness for calculated risk taking
- Steady and positive action in a changed business environment
- Unwavering confidence in strategies implemented
- Focused vision and concentration on goal achievement throughout the process of execution
- Confident decision making followed by positive action
- Generation of interest and enthusiasm in both employees and customers
- A ‘customer needs’ driven approach with an aggressive marketing focus and the ability to launch new products
The Importance of Understanding and Maintaining Business Personality
As the business owner, you are responsible for the management and improvement in your business’ performance. Therefore, you should pose questions that can provide the right answers when it comes to enhancing your organization’s personality. You also need to develop ways to deal with critical issues relating to changes and improvement in both external and internal organizational efficiency, effectiveness and accountability.
It is imperative for your small business’ personality to foster an image supporting opportunities for internal growth and stability for your employees. When this is absent, your employees may not like the personality of the business much, and its effects will sooner or later start being reflected in employee attitudes – eventually affecting your core business, service and the quality of your products.
How to Proceed With Organizational Personality Development
When faced with a situation demanding change, you need to first figure out which individual components require change among those that cohesively combine to structure the whole personality of your small business. These components can include risk behavior, personalization, attention, assertiveness, competitiveness, consciousness, philosophical strength, and enthusiasm.
The next step is to take all of these areas into account and go about developing a mission statement – a statement that defines what your business is, its culture and employees, and how your business serves its customers. The mission statement should be developed with the input of your employees, ensuring that everyone is on board and in agreement with it. Once this is done, the general personality of your business will be formed.
Your business’ personality is important – and without one that is clearly defined it will be difficult to serve your customers well. By taking the steps above to develop the personality of your small business, you will be ensuring its continued success and survival.