The Six Pillars
We believe that healthy businesses score highly across each of the Six Pillars of our strategic framework
Our Strategic Framework for Business Health
What constitutes “good health” in a business sense will always be somewhat debateable, just as it is in the medical and wellness fields.
At the Advisory Collective we believe that healthy businesses will score highly across each of the following Six Pillars.
It is perfectly conceivable that a business might be doing well in four or five of these Pillars but still struggle - or even fail altogether - simply because there are very serious issues elsewhere. Just as individuals can become sick and die because they are missing only one or two life essentials.
Within each Pillar we have defined the Foundations of a business strategic framework that we believe are prerequisites for success, and a number of Tests that we pose when we work with our clients. Most of the substantive questions in our Assessment Tools have been designed to assess how healthy your business is, in relation to each Pillar and also in overall terms. There are also some questions that are designed to provide us with valuable contextual information; your answers to those questions are particularly useful for our preparation for the post Assessment Interview and the finalisation of our Report back to you.
Principles & Progress
Healthy people require principles to live their lives by, as individuals and in relation to families and society. Businesses are the same - their owners, leaders and employees need to know what they stand for. Principles arguably provide each business with its own unique “soul”.
Businesses also change over time - they are born, they (hopefully) mature and they can even die, in a figurative sense. So just as we consider the development of individuals when we think about what constitutes good health, we must consider the Progress that each business makes through its own lifecycle, which will also affect Principles over time.
Every business external funding to start, survive and grow, just as individuals need financial income or other resources to meet their personal needs and wants.
Businesses have to offer a valuable Product to exchange for funding, whether it be in the form of endowment or sponsorship of a “Not for Profit” or revenues earned from selling commercial goods or services.
Businesses cannot achieve anything without real people to create them, lead them and to perform their day to day tasks.
For the businesses that they work for, People are the “hands” that make and do valuable things, the “five senses” that engage with the world, and the “hearts and minds” that provide inspiration and make the necessary decisions.
Good dietary, sleep, exercise and other habits make individuals healthier.
Similarly, good recurring Processes lead to better outcomes for any task that a business might have to perform, whether they are required only from time to time as a fixed regulatory requirement or every day to produce and sell its products.
Its not good enough for any business to have great Products, People and Processes - they have to be affordable over time.
Businesses need to manage their tasks with a clear focus on Productivity, just as people need to make financial efficiencies from time to time to afford their basic needs for survival and avoid stress.
All individuals need clothes and housing to protect them and good bones, joints and nervous systems to move them through their lives in the world.
Similarly, every business has certain tangible and intangible structures, tools and other assets that it needs to possess and make good use of, as Platforms for long term business health.