However, “Business assessment” in many organization is a neglected subject and I personally feel that management must conduct this assessment periodically, with the view of introspection and measuring success of the organization.
The number of satisfied customers and effective leadership at different levels, defines the scale of success of any business.
To keep the business successful, the business leader must spend quality time on planning rather than getting involved in execution. The focus of this planning should be to work on the strengths of the organization. How best can we satisfy customers ‘changing needs and wants?
A common mistake of making our own judgement about what satisfies the customers, will affect adversely on Business performance. Instead of making our own judgement, taking customers feedback is a simple and effective method of understanding what works and what not.
Self-assessment is very good tool for Business leaders to keep them focused, improve the skills and motivate the team to achieve more success.
Do check the following factors to validate your success level and scope for improvement :
- Most organizations are having a vision, mission, value statement. (on the web site, marketing material they are written in bold). Leader must validate whether the business is aligned with the statements and are they operating according to their vision and company values. Take away point is “Check if everyone is known and understood about these statements” In case if you find a disconnect, that must be rectified and implemented.
- Sales is growing and you as a leader is aware about each development in sales through your review mechanism, you are right on track! If you are not sure what your team is doing , you better start working on improving this situation.
- You are doing good if you know your profit numbers well in detail and you are aware about the contribution of each product/team member in your profits. If not …..
- We as a business leader, are having lot of expectations from our team members and especially new recruits. Sometimes in the obsession of delegation, we bypass the review process. This results in embitterment. Check if you are making the same mistake?
- When the entire organization activities are revolving around you, obviously delay in decision making will be on the cards. I am sure you are not making this mistake?
- When we are taking review of any department it starts and ends only with educating the team to solve operational issues(many times it is your way of handling situation Vs. my way of handling situation). this monolog meetings eventually become so boring that in many organizations the employees avoid meeting as they think it is a waste of time. Employees stop implementing the suggestions given by management or become selective. This gap reflects badly on effective decision making. Check if you are facing this challenge of employees behavior and Gap in their approach.
Most review meetings sound like interrogation. The numbers or information presented before management are analyzed incorrectly or I must say prejudicially. In a business review meeting the most important information is what decisions the line managers have taken in a defined period.
Last but most important, Every organization should provide learning opportunities for individuals which will allow them to learn to take decisions in line with the objective of organization and improve competencies.
One thing is very sure, learning organizations can grow faster; a fast growing organization can attract and retain talent; and with these excellent talented team, organizations can achieve sustainable growth.