Alexander Christodoulakis, CEO of PBS SA Capital has a proven successful track record for performance over a quarter of a century. He has established a standard of strong core values and practices that have been constantly refined over the years.
His determination, hard work, and principles, have helped him develop top-quality innovative approaches to challenging business situations. Alexander’s expertise has led Fortune 500 companies, world banks, leading hedge funds, governments, state enterprises, public and private multinational corporations pursue his expertise.
As mentioned in previous articles, over the years a number of senior VP’s from world banks and leading world funds, said that they have never come across to a professional with such strong principles and work ethics. It is the constant use of best practices that has assisted Alexander through PBS SA Capital Group and its member companies to provide top-tier financial services on a global scale.
The term ‘Business Practices’ refers to the methods, procedures, processes, business ethics and the rules of a company that support it to achieve its business objectives. Whether you are a new venture or looking to grow and maintain a successful business, there are numerous worthy “best practice”advice on how to create a profit-making and valuable company. Best practices can assist your business to identify the optimal path among several options or even dilemmas that occur either at a strategic, tactical or operational level.
It is the building of your business identity on high values, standards and strong foundations that will set you apart from your competition. By employing best business practices at all levels, your brand name becomes more recognizable, trusted and respected. A company’s overall contribution to society and to its customers hardly goes unnoticed. Businesses can be socially responsible and profitable at the same time. This is usually attributed to the best practices that an organization follows, as these practices cannot be separated by a company’s contribution to the community.
Best practices can have many orientations and work towards the accomplishment of very precise objectives. On the top of best practices, we would put those ones that assist in shaping a strong culture inside an organization. Strong business ethics are not implemented on their own. It is the top leadership of a company that sets the norms on which types of actions and behaviors are embraced and which are not. For this strategy to be effective and persuasive for the company’s employees, a top-down approach must be taken during the setting of the standards. This is what is called leadership by example and makes a world of difference during all phases of the business’s life cycle.
A company must have clearly defined a set of professional principles that touch every aspect of its business conduct. This is the qualitative aspect of best business practices and it derives from the company’s core values. The way that a company treats its’ clients, employees, investors, partners and the rest of its stakeholders, defines its current and future success. The establishment of proper and open communication channels towards all directions along with the responsiveness to the needs of clients and partners are very important factors of success. This mindset also leads to high levels of responsibility towards the company’s stakeholders and creates confidence for all involved parties both internally and externally. As a result, qualities like determination, engagement, and realism are further encouraged and developed.
On the quantitative side of best business practices, a company should primarily work towards meeting the particular technical standards of its industry. Further to the technical standards, a company must accomplish a certain level of stewardship. Managerial controls that measure the company’s efficiency levels and the completion of important milestones are further enhanced by the implementation of quality controls at every phase of the operations. These actions act also as benchmarks as they provide measurable data to the middle and top management. Monitoring of the key performance indicators (KPIs) are continuously upgraded and evolving especially in the age of big data. What matters here, is the responsible interpretation of these results. The validation of this procedure can be considerably assisted by the proper identification of the causal relationships and the various interlinkages and correlations of the data used.
Best practices can take place at every function of an organization like Business operations, finance, sales and marketing, human resources, etc. In the recent years, it is becoming even more significant the increased interconnection of these functions, predominantly due to the technological advances of the last decade. That means that the decision making that happens at a strategic planning level, can be conveyed almost immediately to the lower levels of management and vice versa. Top managers can instantaneously monitor what takes place inside their organization. With the inclusion of more accurate measurements, all these tech advances have changed the landscape of the best practices and business performance monitoring and forecasting for the better. It is up to each company’s discretion to make the best use out of all these tools that are available nowadays, by simultaneously adjusting them to its needs.