Business Self-Assessment Advice
Diagnostics
Business diagnostics are tools used by companies to assess their
strengths and weaknesses. The tools help to diagnose problems, highlight
areas of opportunity for improvement or stimulate discussion on
how to make their business more competitive.
The links in this section all offer detailed questionnaires for
self-assessment tests of competence in all branches of management.
While the main intention of this web site is to provide links that
will help identify solutions to specific problems, these diagnostic
tests can identify areas of management that are not a problem now,
but probably deserve some attention.
Steps to Competitiveness
For service companies, this diagram is useful benchmarking for the
principal management disciplines. These topics are also covered
in the relevant topics for people with specific problems or challenges
— needs assessment, planning, financing, technology, HR, marketing,
partnerships, quality assurance and product launches.
Winning Retail 2nd Edition
A practical self-assessment workbook for independent retailers and
small chains can be a useful resource tool for decision-makers to
help them refine their retail business. The workbook includes a
practical case study that allows you to get a better understanding
of an independent retailer and its business development.
Click here to download the book.
Management Capabilities
One of the key considerations in any decision by an investor is
to entrust his or her money to the people who run a business. The
section designed to help owner-operators anticipate investors' questions
on this score is a useful tool for assessing the leadership and
management of a company, so it serves as a diagnostic tool for management
structure, track record, effectiveness and competence, with advice
on how to rectify weaknesses.
Risk capital investors know that poor management is often the death
knell for a business. So if the way your company is managed is not
up to par, even if your business idea is strong, investors will
invest elsewhere. We'll help you assess your current management
team and consider the options for strengthening it if need be.
Investors are interested in your:
past — the track record of your management team;
present — the management team's skills and the company's
competitive position; and
future — preparedness for the growth.
Entrepreneurial Self-assessment
Build a checklist for assessing entrepreneurial capability.
To succeed in today's economy, you need to have sound business
sense and a set of practical tools. Use the available important
resources, whether your business is just starting up or is already
well established.
A business plan allows you to set goals and design an operational
plan for your new business.
Ratio calculators are useful analytical tools to compare your business'
success with other similar businesses. A list of resources to access
industry standards.
Assess your entrepreneur profile and compare it to that of proven
successful entrepreneurs.
Measure the relevance of e-business for your business and see whether
you are ready for it.
If your business has at least 1 year of completed financial data,
you may want to use a banks quick finance eligibility indicator
to help measure the likelihood of obtaining financing from banks.
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