In the decision making phases, 65% OF bad business decisions stemmed from incorrect or misinterpreted data.
Secure decisions through standards in communication, they exist and they have a name: IBCS.
International Business Communication Standard
You need correct, undistorted, recognised and comparable data. The key is a "standard" called IBCS. Increase the accuracy of your decisions with the simple rules of IBCS.
By standard we refer to a unified language, graph and presentation that makes business communication as clear as a green traffic light. How often have you asked yourself after a presentation of numbers, graphs and illustrations, "Does it make sense to me?" Actually, it should be that clear that a decision is only a matter of a formality.
One phenomenon of missing standards is that you keep asking yourself: "What is it about? What does it mean? "
If in a large enterprise four people are busy with the preparation of reports and do not use a unified standard, the result is a poor basis for decision-making.
How do I protect myself from making wrong decisions?
The best protection against wrong decisions due to incorrect data are standards in communication for the business world. They exist. And they have a name: IBCS
"Insights at a glance"
What has been common practice for hundreds of years in technology, architecture, production and industry, but also in music, is almost completely lacking in the business world. An electric circuit diagram can be read, understood and implemented by any electrician anywhere in the world.
Even in the world of art there are uniform standards. How is it possible for the Berliner Symphoniker to play Beethoven with a conductor who speaks only Spanish? They accomplish this through the uniform system of notes. Yes, the notes are the same all over the world, and mean the same everywhere.
Without this system, we wouldn't have classical music. How would it affect your professional career if you knew for sure and could verify that the business data presented to you was complete, accurate, transparent, summarized, clear and consistent?
Successful decisions have a system
What if your decision did not depend on the skill of the presentation or the courtesy of the graphics? It's easy to say you only make decisions based on facts. But without standardized facts, it is only an emotional decision.
Every electrician would have sleepless nights if he were constantly confronted with different planning standards.
He would first need to find out what approach the architect has taken and then think about how to implement it. Without these standards, there would be no properly functioning power lines. In contrast to industry, there are established communication standards in almost all areas, on which everyone can rely internationally.
"Imagine you are looking at a business proposition that is simple, clear and unambiguous, full of accurate and applicable data."
All data, scales, facts and forecasts on one page
You can see what it's all about at a glance. The decision as to whether the investment makes sense or not would not have to come from the gut, but would be based on compelling facts.
Even better, you could have the presented facts checked independently, and thus have double certainty.
Insist on communication standards! These communication norms can tell the difference between success and wrong decision. Success comes to those who can rely on true, correctly presented and easily understandable data.
IBCS has the following standards that make every annual report understandable at a glance. These standards are described in SUCCESS.
Use the success norms
(Convey a message)
Business communication is not marketing - people want to know what the outcome is. The image transports the message in order to make a decision.
(Apply semantic notation)
A forecast or an actual status is unmistakably recognizable in color and graphic. The presentation is simplified and you don't feel confused or overwhelmed. Things are recognizable at a glance. We are able to see the value because everything is obvious.
(Increase information density)
Information is compressed and condensed in one place so that comparisons can be made at a glance. The result: We can recognize and compare a lot of information on a single page.
(Ensure visual integrity)
The correctness is ensured at this point. The periods shown are complete and period-only. The key figures are always calculated using the same method. These values are scaled consistently and show us at a glance the state of matters, without having to rely on the interpretations and remarks of others.
(Choose proper visualization)
Only standards that are consistent in all reports, presentations, proposals and investment plans are used. They are as simple as the emergency exit sign.
It's totally exhausting to look at things and then have to think about their meaning. Yes, maybe you will not get a graphic price for it, but you can give your investor a sense of security because he can see how profitable it is. This is not the place for corporate design - this is where we aim for clarity.
Here we make sure that we compare equal with equal. In our analyses, we are always amazed by how things that have nothing in common are related to each other.
Insist on Communication standards such as those already in use in computer technology, design technology and bridge building.
Are you interested in how IBCS is applied in practice?
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