Review the performance of you business
So, we’ve just moved into the second half of 2007, and this is traditionally the time when many businesses take the opportunity to review their performance to date. At a senior level, questions are asked about the performance of the business overall and the individual operating units.
But what issues should be included in any interim review?
- Where did we expect to be at the half year?
- Where are we now, and if there is a material difference, do we understand and are we satisfied with the underlying reasons?
- Is the strategy implemented at the beginning of the year still correct?
- Given the results of the first 6 months of 2007, how confident are we that we will deliver full year’s targets?
- The impact on performance to date as a result of changes in market conditions
- What factors have helped or inhibited the expected levels of performance?
- What tactical opportunities exist during the remaining six months?
- Which of these factors should be addressed as a priority?
- Which internal delivery processes are helping/ hindering performance delivery? How quickly can we change them?
- What do we need to do differently during the last six months of 2007?
If it is to be completed thoroughly, there is a great deal to be done and, the ‘big’ question is often
“Do we have the resources and abilities to analyse performance to date and, if appropriate, what will we do differently to change it?”
If you are not achieving your business goals, how important is it for you to have a practical, strategic plan to recover the targeted level of performance during the second half of the year? If you continue to do the same, the chances are you will perform the same.
Don’t bury your head in the sand, do something positive to change. If you don’t know what to do, just ask.