Many business owners become so wrapped up in the day-to-day issues facing them such as: developing a pipeline of opportunities; closing the next sale; turning debtors into cash; financing expanding working capital needs; creating marketing campaigns, quality control; managing staff; shipping product out the door; that they lose sight of where the business is right now or where it will be in six months or a year’s time. It is often difficult or impossible for them to take time out to analyse the status quo and measure efficiency. This can have a serious impact on the future trading potential of the business.
When asked if they have recently done a barometer check on their business, many business owners often respond, "If only I had the time, another pair of experienced hands, another senior manager or more resources I would make the time". Now business owners can avail of this extra time, an extra pair of hands and an experienced senior manager by availing of Health Check provided by Prism Management Services.
Health Check involves an analysis of all or any functional area of the business. It takes a snap shot of the here and now. It is usually internally focused but can be extended to incorporate industry and competitor analysis. The scope of the analysis will be driven by the needs of individual management teams. The internal analysis may include: Finance, Operations, Human Resources, Marketing, Sales, Management Team, Board of Directors, External Advisors, Strategic Alliances, Use of technology, Vision/Mission/Objectives and strategies.
While a business is developing from a small entrepreneurial firm into a prosperous mainstream organisation it is sometimes reluctant to embrace change and far too often holds onto old work practices, some of which are inefficient. Health Check identifies these inefficiencies and, through Health Care, works with the management team to build streamlined business processes across all functional disciplines. It looks at the appropriateness of the financial structure of the business and alternative sources of financing. It also looks at how the business is managed and the underlying company culture.
Prism Management Services Ltd. uses a number of proprietary tools to carry out analysis in an efficient and structured way. Working closely with business owners, senior managers and line staff, Prism Management Services Ltd. can quickly develop a comprehensive report on the efficiency of the business and identify areas for management attention.
Health Check can be availed of as a once-off tool to look at the "here-and-now" or it can incorporate a retainer for ongoing advice of two or three days per month to keep the company on track