Accountability is a buzz word that essentially means ‘responsibility’. In terms of self-development, keeping ourselves accountable is a crucial way to ensure we’re always working our hardest and delivering on our promises and goals. But at the same time, accountability is also highly important in business. In fact it is incredibly important and can be the difference between success and failure in multiple ways. Here are some of the ways in which accountability and business go hand in hand.
Keeping Your Company Accountable
The first way that accountability plays an important role in business is in the way you can keep your entire organisation accountable. Most companies do this to an extent by releasing reports for investors and the industry. This lets everyone see what the company is doing and thus ensures they get feedback on the way that things are being managed. Other companies will go one step further and will produce a blog talking about the daily operations of the organisation. This can make for fascinating reading for customers and fans and it’s a great way of making sure that the company stays accountable to its fans. This in turn ensures that the company doesn’t fall back on laziness or try to cut corners but instead constantly innovates as spurred on by their fans. In this way, accountability is very similar to ‘transparency’ – both of which are crucial for any business.
Within the Organisation
But within your company accountability also has an important role. Specifically, accountability is important for all of the staff so that everyone’s contributions are recognized. This shouldn’t be in place so that you can ‘more easily punish’ the staff that are perceived as dropping the ball but rather it means making sure that everyone feels a sense of ownership and professional pride in what they do. As soon as you put someone’s name on something, they will start to work 100% harder. No one likes to feel like a cog in the machine, so if you make sure that each member of staff is given recognition for what they’re doing you will find that they work to a much better standard. At the same time, this accountability will allow you to really reward those who are putting in the best work. While it’s important to work as a team, you also need to value individual contributions and this is where accountability can be a real asset.