Notes

THE BUSINESS ENTERPRISE Analysis - Why Your Company's Future May Depend on It
Once a year you should execute a thorough analysis or overview of your company to be sure you are staying on track. As an over-all outline you can follow these 10 categories:

1)Management and Administration: your strategy, supervision, delegation, accountability, accounting, human resources, payroll and benefits, risk, legal, cost controls, decision making, growth, data and records, responsibilities

2) Operations/Production: your processes, standards, labor, tools, equipment, parts, facilities, materials, vendors, independent contractors

3) Sales and Marketing: how to locate prospects that become your customers; sales presentation and marketing materials

4) Technology and Applications: how can technology be used to optimize your key company functions; hardware, software, industry specific applications

5) Company Culture: how your organization is perceived by your employees, customers, vendors and the local and cyber communities; what is management willing and capable of doing. How are training, learning and education perceived? How is your image and morale?

6) Priorities and Budgets: what is most important, when is it needed and just how much does it cost; cashflow management

7) Short and Long Term Goals: short term is within a year; longterm is next 1-10 years. Where do you plan to be?

8) Execution: what do you need, how will you carry out your plan and the method that you will monitor your progress toward your goals

9) Ongoing Development: what reviews and new developments are essential to keep growth and improve?

10) Overview and Summary: the big picture or how your business model matches your targets; what are your short and longterm strengths, weaknesses and opportunities.

The list above will not include everything but it does cover the fundamentals. Understand that every business is exclusive so the challenge is to find out what applies to your business.

Below are a few more pointers before you begin:

A) Most businesses find it impossible to be objective about themselves so that they search for an outsider. The analyst is neither an employee, friend nor relative. This prevents one's self interest from influencing the final report.

B) Request that your outside analyst tell you what you need to know and not what you would would rather know. Excel Courses for Data Analytics waste your time and money if you don't actually want to know. Also ask why bother in the event that you won't change anything once you do know.

C) Make sure your analyst interviews your key people and submits a written, detailed report. Should they don't interview your people, how will they know? In the event that you hide things from the analyst you will get back a skewed perspective which will be reflected in the final report.

D) When reviewing the report, ask questions and soon you clearly understand each point. If you don't understand something then your report will be of less value for you personally and your company. A good analyst will answer your questions and not ridicule you. An extremely good analyst will chastise you for not doing what you really should be doing.

What is the web result? Unfortunately some businesses actually feel the process of a small business analysis and then disregard the observations and suggestions. This needless to say makes no sense.

What does make sense is to take the outcomes of your business analysis and modify your current business plan to ensure it is more effective. This is exactly what a business analysis is all about; this is exactly what is in it for the company.

From the analysis it is possible to concentrate on those activities which will have the largest impact and results such as for example increasing sales or reducing costs. Also search for improvements which are free, cost little and may be done quickly.

The biggest obstacle to improvement and growth is overcoming that initial inertia; if you remember your physics, "an object at rest will stay at rest." The business analysis provides the ideal platform that you can get going if you stay in keeping with your plan and focus, focus, focus.
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