The Business reports need to represent a macro view and be more future-based, be more balanced. It is important they mirror the vision for the investors to make the right decisions, a broader view. And that they are also useful for the government, the society, to give the bigger picture. Also that the people working for companies use both parts of their brain, the macro and micro sides.
We have a vision and a vision board and sometimes a scorecard that is balanced between recourses and outcomes but very seldom we consider the society we live in a broader view. The planning process consists of putting the activities into boxes, it is closed. Very often this view is not dynamic enough.
We use the macro view when looking to the future but the micro view when we make the analysis and reports. When we use the macro the wholeness of who we are, then we use both parts of the brain, we use creative solutions as well as the analytics and that is very important for the human being, both when planning and also when reading the reports. We need to train people to use both their macro and micro minds, especially the managers.
The processes are important for the outcome, but to focus on them at long-term planning is short-sighted when we are working at the macro view, but of course, it is done at a micro-level, deployed to the people who work with them. Sometimes technology changes the processes, but that usually happens suddenly a disruptive change. But technology change can be planned at the macro level also the process management should not.
In the process, management variation is the key and the people who work with them know better. It is important to keep the processes as simple as possible and that can only be done from the inside. Today, the employees need to be faster and to find ways to make it happen. It is important that they also bring their whole brain to work and have clear goals and guidance. Training and support are also important, training both the macro and micro minds.
There must be a space for the human being to grow and learn and not too much machine learning. In today environment it is important, to build capabilities and to be able to explore opportunities with or without maps. For both the company and for the individual to engage in a greater venture. Unleash people talent and to be closer to the customers.
Companies must be better in contributing to the whole and have a wider circle, business reports should give the bigger picture not just detailed financial measure for the past, be more future-orientated for Investors and the government who need to know what is going on and have the broader view of the market.
In consulting businesses often things are put into boxes, to make it easy to implement, but sometimes it fails because the reality is more complex and there is a need for more dynamic approach, there is also a lack of capability because people who implement these boxes are not used to think outside the box, does not have the flexibility, the broader view, to use the macro mind and micro mind. We need more thinking outside of the box, there is an international movement now a call for this and it is important that everybody be on board. “#The no more boxes movement”
We must use creative solutions to tackle problems and for strategic purposes. There are many ways to do that and here is just one possibility. The Design thinking method to tackle challenges as an example.
A broader view of planning and business reports
We recommend using a much broader view for strategic purpose and start with a vision board, it may be chaotic but is much better than too many boxes. Make statements and translate them to a storyboard and use storytelling to follow up. In marketing, there are used much more creative processes. Use creative methods to tackle challenges as they come along the way. It is possible for instance to use colours where appropriate instead of using numbers it is also sometimes better to use icons.
The companies play a big part in our society and therefore they have also much responsibility and need to do more and not just play with the numbers. Sometimes also on the international playground and affect social development.
In Iceland, there has been much change to alter the macro view. With a company union for Social Responsibility, now also global responsibility, they gather sustainability reports from companies and share knowledge.
A new director who is a specialist in the development and has worked at the UN. https://samfelagsabyrgd.is/en/about/
The Goal settings for the sustainability goals are on a national level, the ministers have set the Goals for Iceland and the cities are working with the sustainable goals also and call the companies to cooperate. And even more now for global responsibility after a few scandals on an international level.
The UN Sustainability Goals, https://www.heimsmarkmidin.is/forsida/en/ in Iceland
There has also been much focus on quality and environmental standards at production and in stores in Iceland often with a focus on the Nordic Swan, an environmental label. There are also many awards for environmentally friendly companies and for individuals. The shops themselves collect fund together and give to environmental projects.
The banks have been very responsible after the financial crisis, they make transparent reports regarding social responsibility and more. Other companies have followed their suit and the banks are now calling for funding from the public for environmental startups. Fortunately, they have been able to learn and now there are women who manage to of the three biggest banks here in Iceland, and they have a much broader view. The government took these to banks over but the third has foreign ownership investors, but they are doing similar things.
We are proud of our sustainable energy, electricity is produced with waterfalls power, but we have many here in Iceland and much water. Sometimes it is also produced with hot springs water. It is important to have pride both in companies and the nation.
The Business reports and mapping must represent a much broader view, and the strategy and follow up must also be more creative and future-oriented. Macro view instead of micro view in both goal setting and follow up. Accordingly, the managers must think outside the box and use creative methods to tackle problems in today challenging environment and use both their macro and micro brains. For instance, use Design thinking to tackle challenges and other creative methods, often used in marketing and development.
Process management is a micro view and should be done on an implementation stage, manager deploys goals and objectives to the people working with the processes and they find the better way according to their training and mindset, employees and lower-level managers should be encouraged to use creative mindset along with the analytical.
Social responsibility is becoming a global responsibility in Iceland with a focus on the UN Sustainability goals in cooperation with the state, and the cities and of course international companies.