Focus on direction & management and bottom-line performance
In the pursuit of prosperity, and for some, survival, the impact of strong direction and management on bottom line performance is evident. With commercial demands increasing at staggering pace, it is vital to empower management as a force for positive bottom-line impact in a business to:
- Isolate the true and proportionate causes of any shortfall
- Distinguish realities from theories
- Rescue the controllable from the inevitable
- Deny the background noise of ‘ the economy’ or ‘market’ taking control over future prosperity
How do you even know if your management team is delivering? Ask yourself some simple, key questions:
- Are you on target?
- Are you reaching potential and do you know what that potential is?
- What’s stopping you reaching your potential?
- Could it be your structure, leadership or management requires to be re-visited?
Performance management, applied in control analysis and action, constitutes one of the highest standards in management development, yielding some of the most dramatic results.
- Sales results in customer spend and conversion;
- Profit results in cost and added value
- Business retention results in customers and sales
- Human resource results in staff retention and development
- Growth results in investment and innovation
Whatever your market, direction and management should remain top in the control stakes, since that control exists on the three levels of strategy, initiative and response. Even when it appears “external” factors are calling the shots, it falls on direction and management to set and review strategy, initiate contingencies, and respond to wider elements.
Such is the potential for management impact on total performance, assessing and appointing management, is effectively buying control analysis and action.
To empower direction and management you can get help with various tools including; management planning models, board-level snapshot reviews, and fast track analysis and action projects.
Aim for management performance with impact and value … earning profit; agreeing a non-profit mission and purpose, providing employment, leaving a legacy, and reaching full potential.
Consider for your business, where interventions are called for to make direction and management a force for positive bottom-line impact and ensure that your family business is working for you.
Billy Andrew is a consultant at Family Business Solutions, who will be guest presenters at the next Campbell Dallas event for family businesses at our Stirling office on 22 November.
Please click here to register for this free event.
The information in this blog should not be regarded as financial advice. This is based on our understanding in November 2017. Laws and tax rules may change in the future.