Multisector Codes Calls for Competitive Levels of Productivity


BSI is a leading international provider of business standards, whose main activity is the creation of business standards around a wide range of industries, including financial services, information technology and pharmaceuticals. It also maintains several related industry-related publications and offers training in both management and operational aspects of these business standards. In addition, BSI provides technical and other assistance to organizations within the standards area. Their main business areas are: Financial Services, Manufacturing Industries, Consumer and Engineering Discrete Technology, Energy Efficiency, and Healthcare.

BSI believes that there are five key business standards that are important to everyone, especially those that deal with small businesses. They are: Regularity, Predictive Pricing, Respect for Customers, Fair Trading and Transparency. Regularity pertains to how a product or service is delivered every day to customers, and this applies to all employees, managers and staff at all levels in an organization. Predictive pricing is designed to maximize the efficiency of all processes – this is also applied to staff, but in a different way. Respect for customers means that your business has created policies and procedures that are fair to both your customers and yourself. Transparency is all about being able to show all relevant information to your customers, and this includes training seminars and programs to train staff members on these business standards.

The multisector codes involve the creation of numerical classifications, which are internationally recognized, which help demarcate different industries in terms of their levels of productivity and efficiency. These are used to create specific industry-specific performance guidelines, and these guidelines cover specific product categories and procedures that are required for each sector within an organization. These can include training seminars on these standards as well as the implementation of business sector codes. Both of these processes aim to foster efficiency and quality in an organization, which is also what customers expect from you. To ensure that your company meets these business standards, it is important that you take the time to engage and communicate effectively with all of your staff.