{"id":111949,"date":"2023-06-05t11:58:28","date_gmt":"2023-06-05t15:58:28","guid":{"rendered":"\/\/www.g005e.com\/?p=111949"},"modified":"2024-08-27t17:02:13","modified_gmt":"2024-08-27t21:02:13","slug":"where-is-your-firm-in-its-lifecycle","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/06\/05\/where-is-your-firm-in-its-lifecycle\/","title":{"rendered":"where is your firm in its lifecycle?"},"content":{"rendered":"
<\/a>how to change if you don\u2019t like what you learn.<\/strong><\/p>\n by ed mendlowitz<\/i> a while ago i gave a speech on business performance measurement and, to prepare, i searched online and found many books on performance measurement, but they were for personnel performance, not for businesses where i found only a dismal few.<\/p>\n more: <\/b>wow clients with trend analysis<\/a> | trends are all around us<\/a> | how to prepare business plan financial projections<\/a> | the top 11 financial statement ratios<\/a> | eight ways to value a family-owned business<\/a> | are you ready for a co-owner to drop dead?<\/a> | charity directors must take theft seriously<\/a> | forensic techniques can be fraud deterrence<\/a> | the hazards of poor internal controls<\/a> however, that\u2019s what i have been doing my entire career, so i was able to put together an enlightening presentation. that also got me thinking about the areas business owners and managers should concentrate on to improve their business\u2019 performance.<\/p>\n for starters, here are three basic premises:<\/strong> checklist: 12 areas where performance can be evaluated<\/strong><\/p>\n books can be written about each topic. my suggestion to business owners and managers is to be aware of your business\u2019 performance in each area, question variations, look for changes, any changes, and changes in trends. look, really look, at your personnel\u2019s activities and see if there are changes there. be in constant contact with your customers and the value you provide, and work at being a manager of your business.<\/p>\n whether you are starting up or a seasoned entrepreneur, the details need to be watched, including being sensitive to what is happening in every part of the business, and making sure the business is aligned with your goals and raison d\u2019\u00eatre.<\/p>\n business focus<\/strong><\/p>\n the headline in the wall street journal declared that ge was narrowing its focus. it was 2014, but the lessons are timeless.<\/p>\n ge was selling its electric appliance business and abandoning a highly visible but somewhat profitable segment.<\/p>\n the article asks, \u201cwhat is ge?\u201d what ge is, is not important to this discussion; what is important is the emphasis placed on focus. many businesses are not focused, do not have a clear identity, have management whose energies are diffused and fragmented and a confused customer base about the company identity with diminishing brand values.<\/p>\n companies of all types and sizes add divisions, brands and products trying to grow, obtain greater market share, and cross-pollinate customers to get more of their purchase dollars. many times, the result is not clear other than to get bigger. in a larger sense the end-result should be to make more money and be a more secure company with a sustainable future. i believe this is usually overlooked because it is a long-term outcome that thwarts the \u201cimportance\u201d of the short-term chase.<\/p>\n ge is an old company that is growing and has morphed into a completely different company than its founders, who included thomas edison, imagined. with imaginative leadership, its growth went where opportunities led. its leaders were alert to innovation and creatively applied it to growth and company identity evolution. along the way its large size had to divert its leaders\u2019 attention from everything except the most immediate profit contributors. the original core became a drag on overall growth and in reshaping the company, and diminished the big-picture focus needed to continue growing.<\/p>\n divestment of less profitable or slower growing segments is a smart way to monetize some assets while allowing better and truer focus on the larger parts of the business, permitting a clearer focus on future growth.<\/p>\n you do not have to be a ge to have this apply to your business or not-for-profit organization. critically examine your product lines, your customer base, your human resource allocation, your greatest and least profitable segments and those requiring the most attention, infrastructure and\/or financing. also examine your core capabilities and activities, whether and how your customers identify with your organization and pinpoint any growth inhibitors. then, consider doing what ge did and get out of the drags. size is not what creates value and sustainability and does not equate to cash flow, which is what will really create long-term health and value.<\/p>\n ge is not the only \u201cmega-large\u201d company going through this process, but its action precipitated these thoughts and comments.<\/p>\n use the ge case study as a starting point to examine and possibly simplify your organization, add value and allow the right focus.<\/p>\n a swot analysis is an effective way to examine a business. swot is an acronym for \u201cstrengths, weaknesses, opportunities and threats.\u201d<\/p>\n a swot analysis identifies the strengths and weaknesses of an organization and the opportunities and threats from its external environment. it can be done by owners, primary managers, team members, board members or advisors such as the organization\u2019s cpa. the swot analysis can be just as effective for a not-for-profit organization. it can be used to develop a long-range strategic plan or to find a solution to a specific issue or problem. the analysis enables the concentration of efforts on maximizing the strengths and opportunities and minimizing the effects of the weaknesses and threats.<\/p>\n following is illustrative data that would be included in the analysis:<\/p>\n strengths<\/strong><\/p>\n weaknesses<\/strong><\/p>\n opportunities<\/strong><\/p>\n threats<\/strong><\/p>\n my experience has been that the identification of issues is not that difficult when the people involved \u201clock\u201d themselves in an office for an hour or two and focus in on the swot components. the problems come when there is an inability to recognize how to approach the identified issues and after coming up with a plan, the failure to implement and execute.<\/p>\n to make the swot meaningful \u2013 and beneficial \u2013 assign each person at the meeting two items to work on with a two- or three-week reporting period. the plan can be to better the strong items or work on reducing the effect of the negative items.<\/p>\n meetings should not last more than 1\u00bd hours. the tight time limit reduces chit-chat and a feeling there is no rush and fosters a \u201clet\u2019s get down to business\u201d attitude. frequent shorter meetings can be much more productive than longer meetings.<\/p>\n when followed as suggested above, the swot analysis can be an effective tool and greatly help the participating managers do a better job.<\/p>\n lifecycles of an organization<\/strong><\/p>\n <\/a><\/p>\n <\/p>\n organizations do not last forever. they have lifecycles and the truly successful ones find ways to extend their lives. this is just as applicable for not-for-profits as for businesses.<\/p>\n businesses have a growth stage where they develop and mature. at maturity, they become stable and left alone, they age and decline. the successful organizations find ways to continue developing and growing.<\/p>\n i have seen many businesses grow very nicely after they start \u2026 only to max out at some point. there are many reasons for this, but the point here is to make you aware of the cycles and have you work on overcoming the inertia that settles in. companies cannot rest on their laurels and must keep their focus on continuous growth. past the peak, arrogance sets in that then hastens the decline and death.<\/p>\n what to do<\/strong><\/p>\n the lifecycle measurement is an effective tool that can help place your business in perspective with indications of the direction the business is headed toward.<\/p>\n","protected":false},"excerpt":{"rendered":" how to change if you don\u2019t like what you learn.<\/strong>
\n77 ways to wow!<\/i><\/a><\/p>\n
\nexclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n
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swot analysis<\/h3>\n
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\nby ed mendlowitz<\/i>
\n77 ways to wow!<\/i><\/a><\/p>\n","protected":false},"author":1341,"featured_media":111951,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1908,3120,3002],"tags":[],"class_list":["post-111949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-management","category-pro-member-exclusive","category-special"],"acf":[],"yoast_head":"\n