Is it funds? You definitely can’t do without it. Money is good. Having a constant income and raising your investments keep your business going and your spirit up. But this is useless without a well-developed financial plan or precise perspectives. Not to mention that it’s quite a vulnerable asset as it’s influenced by many external factors like the economic context and industry stability. So we can’t really call it your most sustainable asset.
Is it culture? Well, culture is more of an instrument. It defines your mission, your vision, the values that you stand for. It keeps you focused on all your marketing strategies and has the power to influence the work environment in your organization and employees behavior. But culture is a fluctuating component. It needs to be constantly adapted to your internal framework and aligned to the present business climate. Its essence is to be kept in order to have a credible overall position, but it also needs to fulfill your future plans.
Is it people? Yes, you could say they are. The human capital empowers your market image: customers talk to people, not to your products or the services that you provide. Employees engagement dictate your business outcomes as their devotion to success determine the efficiency of your organization. Your budget and culture are values that will be relevant only through their actions. But it’s never someone in particular. It’s not John, Steve or Alan – people come and go.
So which is it then? Well, I’d say it’s all of them at the same time, but this is quite an ideal perspective. In reality, it’s the collective knowledge that does all the magic, no matter the personnel turnover. Finding a way of capturing your organization’s both explicit and implicit knowledge is the most sustainable asset of all. Collecting employees expertise and giving them faster access to a permanent updated source of information will support a long-range productivity boost, while also accelerating a natural evolutionary proficiency worth.
Happy Knowledge Sharing!