I was reading an interesting article the other day about the Billions, yes Billions of dollars that GE as a company adds to its bottom line in additional revenue because of the power of the GE brand. The question I ask myself, consulting clients and seminar attendees is – how much does your brand allow you to …
- charge more for your products and services
- get referrals
- get clients coming to you
- add to your bottomline revenue ..
… and the list could go on. Of course, what we are talking about here is the amount of Brand Equity that we have in the market place that can be translated into revenues.
Now, depending on what business you are in, you may develop a strategic plan to base your brand equity around what you consider to be your strength in the market place. This could be in the …
- supply chain
- technology innovation
- product quality
- technical support
… and other aspects of the business that can be used to differentiate you from the competition.
It is of course important to state that what any company focusses on may radically change based upon whether they are focussing their efforts on …
Business To Business or in the Business To Consumer
… marketing strategy development and branding activities.
Often within organizations the question is asked (by varying sections of the workforce) “why are we bothering with Diversity”? The point being, “things have not been so bad up until this point so why divert time, energy and money into this thing called Diversity which only seems to be in existence to help certain sections of the workforce” and often can be interpreted as acting as a career progression disadvantage to the employees who come from the dominant sections of the workforce.
Today more that ever there is a need to establish the business case for Diversity and to ensure that the message is passed down throughout al levels of the organization.
Above is a snippet of an interview between myself and Nadia Saba
Head Of Diversity for Avon & Somerset Police
It is fair to say that Diversity is often greeted with a certain amount of skepticism and doubt, is normally ‘owned’ by the Human Resources department whose task it is to ensure that Diversity is implemented throughout the organization.
In some cases the individuals with the Human Resources who are tasked with rolling out the program may not be fully up to speed with Diversity themselves and with the root cause as to why it is essential in today business landscape to have a coherent Diversity program which is understood by all within the organization.
This is where establishing the business case for Diversity comes into play, it moves the emotional aspect out of focus and gives employees the ‘real reason why it is so important for their organization to have a coherent Diversity strategy in place i.e. it is down to the effect on the bottom line business results as the company continually strives to establish its competitive advantage over and against the other companies operating in the same market space.
More on this in an upcoming post.
Stephen C Campbell