Sunday, 18 January 2015

British Businesses become dangerously complacent

Protobase Laboratories commissioned Omnibus Research to conduct a survey last December to ask 100 CEO’s of mid-sized British businesses about their business profitability.  More than 70% of respondents say they are satisfied with their business profitability and 88% are also satisfied with their business processes.


Is this a sign that the overall majority of CEO’s are becoming dangerously complacent with where their business is at going into the future?
With a general election this year business tends to stagnate and trend water waiting to see who comes into the government, but that is still no reason to be complacent.


This leads to the question is British business too easily satisfied. Are we as a nation just happy with minor or incremental growth? Are we too content with the success that has already been achieved? Has business lost the hunger to be daring and adventurous?  


When you achieve some success it is natural to take the foot off the accelerator. We become more risk averse as we have more to lose. But in today’s pace of life and changes in technology if you stay the same tomorrow you will be left behind. If you do not keep taking risks and growing you will eventually lose what you have now.


An encouraging sign from the results are that 85% of CEOs said they are planning to introduce new processes in the next 1 to 2 years.


The real question you need to ask yourself as a business owner are you really satisfied with where your business is at, and if so is that leading to complacency? Complacency is the first step on the slippery slope downwards.


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