GENERAL MANAGEMENT
CHECK POINT 3: THE BUSINESS ENGINEERING METHOD
Please Select Any Topic In Check Point 3 Below And Click. |
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1. WHO IS DOING BUSINESS IN AMERICA? |
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STATISTICS ABOUT SMALL BUSINESS IN THE U.S. |
You and your management team must become fully familiar with all elements of the Business Engineering Method if you really want to improve your chances for a long-term success in business.
Hundreds of thousands of people start new business every year. All these people are considered Entrepreneurs, and they play a very important role in the U.S. economy.
There are about 26.8 million businesses in the United States and according to recent statistics they include:
• About 20.8 small businesses without employees (micro businesses).
• About 6 million small to medium-sized businesses with one to 500 paid employees.
• About 18,000 large businesses with over 500 paid employees.
Subsequently, small businesses represent about 99.7 percent of all businesses in the U.S. These businesses account for about 60 percent of the total workforce in the country and contribute substantially to the GDP (Gross Domestic Product)! |
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THE AMERICAN DREAM |
You also belong to this majority, if you still continue to read this program. Moreover, you share the American Dream with all the other millions of entrepreneurs who want nothing less, than to be independent! However - independence usually does not come cheap! There is definitely a price to pay! The question is:
Are you prepared to pay that price? |
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2. STATISTICS ABOUT SMALL BUSINESS FAILURE IN THE U.S. |
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DO YOU KNOW HOW MANY BUSINESSES FAIL IN THE U.S. EVERY YEAR?
According to recent information published in Small Business Trends:
About 70 percent of all small business start-ups fail during the first few years of their existence.
The main Reasons For Small Business Failure include lack of business knowledge and management experience, low productivity of employees, insufficient capital, disagreements between partners, health problems, and a bad economy.
The emotional cost of business failure obviously can’t be measured in monetary terms, but it is certainly devastating to tens of thousands of small business owners and their families. The Financial Cost Of Business Failure can be estimated and it is very damaging. According to various sources, including PRNewsWire.com and Equifax:
The level of small business bankruptcies in 2009 increased by 44 percent in comparison with the previous year to approximately 63,000.
According to most recent reports published in the Wall Street Journal Online:
The estimated cost of small business failure is about $75 Billion per year, or $142,694 per minute.
One of the main reasons for these huge losses is the following fact:
The majority of people in business don't have business management education, while the majority of people who have business management education, are not in business! Moreover, small business owners and business experts hardly communicate with each other due to the high cost of management consulting services.
Perhaps, it’s time to look into the serious problem of small business failure and ask a 75 Billion Dollar Question:
What can we do to solve this problem and turn it into a challenge for the benefit of millions of small business owners and their families, and for the benefit of the U.S. economy?
Are you willing to accept this challenge? |
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3. DO YOU RECOGNIZE YOURSELF? |
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DO YOU THINK THIS MIGHT BE YOU?
Many Entrepreneurs and Small Business Owners have a lot of things in common as outlined below.
See if you recognize yourself. |
TYPICAL TRAITS OF ENTREPRENEURS |
No. |
Details |
1. |
Many entrepreneurs who manage small or medium-sized business, often overestimate their abilities and are unaware of personal inefficiencies in the area of business management.Are you? |
2. |
Those entrepreneurs who are aware of their inefficiencies still prefer to solve their management problems by themselves either to avoid exposure and possible embarrassment as a result of any mismanagement in the past or to protect their "trading secrets".Are you? |
3. |
Most entrepreneurs who manage small and medium-sized companies are usually skeptical toward any advice about business management given by outsiders, such as management consultants, and they often cannot afford such service. Are you? |
4. |
Many entrepreneurs are usually not overly enthusiastic about business management education or literature and do not really know how to select suitable material. They do not have the time to shop around for needed information nor to absorb it. What about you? |
5. |
Many entrepreneurs consider their accountants as their most important business advisors. Unfortunately, however, most accountants have a very limited knowledge of operational business management. What about you? |
6. |
Many entrepreneurs are not able to delegate functional responsibilities to their employees, and sometimes become the biggest stumbling block within their own organization without even realizing it. What about you? |
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4. WHAT IS REALLY THE PROBLEM? |
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THE REAL ENTREPRENEURIAL WORLD |
Some examples which describe the Real Entrepreneurial World are outlined below. |
EXAMPLES OF THE REAL ENTREPRENEURIAL WORLD |
No. |
Details |
1. |
Hundreds of thousands of entrepreneurs start, plan, or dream to start a new business every year. |
2. |
If you ask all new business owners, why they decided to go into business, they will tell you: "Because I want to be my own boss!", and many will also add: "Because I want to make more money and be financially independent!" Not one of them will tell you: "Because I want to go bankrupt!" |
3. |
Unfortunately, however, the reality is quite different! The statistics indicate that about 70 percent of newly established businesses fail during the first few years of their existence. Sadly, 100 percent of these businesses did not use the Business 2010 Management Program. |
4. |
Each year many thousands of business people, who often "sign their lives away to the bank", file for bankruptcy and lose much more than just money in the process. Business failures create untold difficulties for thousands of families, who often sacrifice everything they have to start a business. |
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ASK YOURSELF TWO QUESTIONS |
Ask yourself the following questions:
1. "What are my reasons for being in business?"
2. "Do I really know enough about business management to succeed in business in
the long-term?"
If you are not sure about your Business Knowledge - you may be "skating on thin ice..." So you had better be prepared to invest in yourself, and don't be afraid to spend a reasonable amount of time and money in the process. It will pay dividends in the future.
Those hundreds of thousands of small business owners who were not prepared to invest time and money in their own education and, instead, chose to remain ignorant, paid a heavy price and ultimately went out of business.
You are urged, therefore, not to repeat the same mistake and you must be prepared to admit to yourself that there are several things that you can still learn about business management. Once you adopt this open-minded attitude, you will realize that learning is a never-ending process and you will become its prime beneficiary. |
REMEMBER THREE IMPORTANT THINGS |
If you really want to succeed in business, you should remember three important things outlined below.
1. The more you will learn today, the more you will realize how much you did not
know yesterday...
2. Time will never come back, money you can always make, but knowledge will stay
with you forever!
3. Your knowledge of various aspects of business management will become the
cornerstone of your success in business. |
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5. HOW CAN YOU SUCCEED IN YOUR BUSINESS? |
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THE KEY TO SUCCESS IN BUSINESS
Successful performance of your small or medium-sized business will depend primarily upon your Knowledge and Experience in various areas of business management and your Ability to act as an entrepreneurial manager.
Since small business management is based on an integrated and multi-disciplinary approach, you must learn how to "wear several hats at the same time", and apply various elements of business management in a systematic manner.
You must, in fact, be able “to engineer" your business for success. In other words, if you want to succeed - you must become a "Business Engineer"!
But this is still not enough! You will also need a business method which will enable you to act as a real business engineer. So, here it is! It is called:
THE BUSINESS ENGINEERING METHOD
Note:
Although this method is called “Business Engineering”, it is not designed for engineers. It is designed specifically for entrepreneurs and small business owners of all trade and professional backgrounds, including engineering, who would like to learn how “to engineer” their business for a long-term success. |
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6. INTRODUCTION TO THE BUSINESS ENGINEERING METHOD |
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THE PRIME PURPOSE OF THE BUSINESS ENGINEERING METHOD
The prime purpose of the Business Engineering Method is to break the vicious cycle of ignorance, incompetence, mismanagement, and subsequent failure of small businesses and to enable small business owners to acquire essential management knowledge to enhance their chances for a long-term success in business.
The Business Engineering Method is based on a simple and time-tested idea:
“Whatever you do, learn about it first!”
The Business Engineering Method prescribes to business owners first to study and understand the basic principles of business management and then, simply, apply those principles in their business in a systematic manner, to ensure improved performance and results. This is similar to kids who first have to go to kindergarten to study their ABCs, and then go on through school and to the university to graduate in their chosen profession before they can actually start working.
The Business Engineering Method is designed to provide you with a unique “Be-Your-Own-Management Consultant” Tool. Moreover, this method will help you keep your focus on plain business essentials and manage your business more effectively!
The Business Engineering Method was developed by Joseph Shetzen over a 20-year period and all related materials edited by a team of business experts. This method was first described in "Maximum Performance: The Dow Jones-Irwin Complete Guide To Practical Business Management", published by Dow Jones-Irwin in 1990, currently the McGraw-Hill Companies, Inc.
The Business Engineering Method represents a logical continuation of the Contingency Approach to business management as illustrated below. (10)
DEVELOPMENT OF THE BUSINESS MANAGEMENT SCIENCE
Scientific Management Principles (Taylor, Gilbreths, Gantt, and others).
Administrative Management Theory (Fayol, Mayo, McGregor, and others).
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The Process
Approach |
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The Behavioral
Approach |
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The Systems
Approach |
| This approach views management as the continuous task of planning, organizing, leading, and controlling a group of employees (Fayol). |
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This approach focuses on understanding human behavior and evaluating factors which influence workers' performance and productivity (Follet, Mayo, McGregor, and others). |
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This approach suggests that an organization is a set of interrelated parts such as people, materials, and equipment, arranged in one structure that pursues diverse objectives in a changing environment. |
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The Contingency Approach
This approach provides a methodology for determining the most suitable solution to any organizational problem and includes a company's situational analysis, identification of the problem, statement of performance standards, generation and evaluation of alternative solutions, selection and implementation of proposed solutions, and evaluation of final results.
The Business Engineering Method
This method represents a logical continuation of the Contingency Approach. It goes one step further by creating a "Universal Small Business Knowledge Base" and providing entrepreneurs and small business owners with a practical and easy-to-use "Be-Your-Own-Management-Consultant" Tool. This tool is designed to enable entrepreneurs and business owners to appreciate the importance of essential management principles, to complete cross-functional management self-training in five major operational areas of business activities, to complete a detailed business analysis of their organization, to develop a comprehensive plan of action, and to initiate the implementation of cost-effective management solutions. |
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7. TWO STAGES OF THE BUSINESS ENGINEERING METHOD |
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HOW DOES THE BUSINESS ENGINEERING METHOD WORK?
The Business Engineering Method is designed in a very simple, straight-forward, and user-friendly manner, based on KISS Principles (Keep It Simple Sir!). Once you start using this method, you will be pleasantly surprised, how simple it is.
The Business Engineering Method will enable you and your management team to accomplish four important tasks outlined below. |
FOUR BASIC TASKS OF THE BUSINESS ENGINEERING METHOD |
No. |
Details |
1. |
Study And Understand Business Management Information.
Study and understand essential business management information and guidelines related to five major operational areas in business management. |
2. |
Complete Your Company’s Business Analysis.
Complete a detailed management and financial analysis of your company’s performance covering all five areas of operational activities. |
3. |
Develop Your Company’s Business Plan.
Develop a comprehensive plan of action for your company in all five areas of operational activities. |
4. |
Implement Your Company’s Business Solutions.
Initiate the implementation of cost-effective management solutions within your company in all five areas of operational areas activities. |
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The implementation of the Business Engineering Method consists of two stages outlined below. |
TWO STAGES IN THE IMPLEMENTATION OF THE BUSINESS ENGINERING METHOD
Stage 1: Study And Implement The Business 2010 Management Program (Task 1).
This program provides a knowledge-based foundation covering five major areas of operations within a company and it prescribes a cross-functional self-training of business owners and managers in each of these areas. Refer to five Tutorials in the Business 2010 Management Program which you reading at present.
Stage 2: Implement The Business 2010 Pro Management Program (Tasks 2, 3, and 4).
This program enables small business owners and their management team to conduct a detailed business analysis, to develop a comprehensive business plan, and to initiate the implementation of cost-effective business solutions. This program is in the final development stage and will be available in 2010. |
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8. STAGE 1: THE BUSINESS 2010 MANAGEMENT PROGRAM |
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STAGE 1: THE BUSINESS 2010 MANAGEMENT PROGRAM
The Business 2010 Management Program, which you are reading at present, represents the first stage in the implementation of the Business Engineering Method.
This program consists of Five Tutorials and its prime purpose is to provide you and your management team with comprehensive, detailed and easy-to-understand practical information covering five operational areas of small business management outlined below. |
FIVE TUTORIALS IN THE BUSINESS 2010 MANAGEMENT PROGRAM |
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Each Tutorial contains 20 Check Points covering the entire spectrum of a specific operational area. Each Check Point includes a broad range of Topics designed to provide you with management knowledge and specific guidelines in a particular operational area. Thus, the entire Business 2010 Management Program contains:
5 Tutorials x 20 Check Points = 100 Check Points.
You will only have to decide which Tutorials and Check Points are applicable to you and to your business. The rest will be self-explanatory. Moreover, as you will discover, the entire program is very user-friendly since it is based on the KISS Principles. |
CROSS-FUNCTIONAL MANAGEMENT SELF-TRAINING OF BUSINESS OWNERS |
The concept of cross-functional training of managers in various areas of operational business management was initially introduced in Kaizen-driven companies. However, the Business Engineering Method takes this approach one step further and, in addition, prescribes cross-functional management self-training of owners of small and medium-sized businesses.
The main purpose of the Business Engineering Method is to teach you how to act as a management consultant within your own organizations. |
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9. STAGE 2: THE BUSINESS 2010 PRO MANAGEMENT PROGRAM |
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STAGE 2: THE BUSINESS 2010 PRO MANAGEMENT PROGRAM
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The Business 2010 Pro Management Program represents the second stage in the implementation of the Business Engineering Method.
The prime purpose of this program is to provide you and your management team with a practical tool, which will enable you to conduct a detailed operational and financial analysis of your company’s performance, to develop a comprehensive plan of action, to formulate financial budgets, and to initiate the implementation of cost-effective management solutions in all five areas of operations. As stated earlier, this program is in the final development stage and it will be available in 2010.
The Business 2010 Pro Management Program consists of three parts as presented below. |
THREE PARTS OF THE BUSINESS 2010 PRO MANAGEMENT PROGRAM |
PART 1: BUSINESS ANALYIS
The main purpose of Business Analysis is to find out where your company is now and where it is coming from in terms of its operational performance and financial results.
PART 2: BUSINESS PLAN
The main purpose of the Business Plan is to develop a set of objectives and a comprehensive operational plan of action for your company in five areas of operations, and to formulate financial budgets for the forthcoming fiscal period.
PART 3: BUSINESS SOLUTIONS
The main purpose of Business Solutions is to provide you and your management team with detailed guidance in implementing the Business Plan in order to achieve your company's objectives in all five areas of operational activities in the most cost-effective and professional manner. |
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10. THE FLOW CHART OF THE BUSINESS 2010 PRO MANAGEMENT PROGRAM |
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THE FLOW CHART OF THE BUSINESS 2010 PRO MANAGEMENT PROGRAM
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PART 1: BUSINESS ANALYSIS |
1.1
Operational Management Analysis |
1.2
Financial Performance Analysis |
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Repeat The Above Process On An Annual Basis. |
Note:
Certain portions of the Financial Performance Analysis, Plan, and Solutions can be performed by using existing accounting packages, such as Quicken ®, Quick Books Pro ®, Clarisys ®, and Peach Tree ® accounting programs
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11. BUSINESS ANALYSIS |
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PART 1: BUSINESS ANALYSIS
Part 1 - Business Analysis, outlined below, is comprised of two parts and is designed to assist you and your management team in conducting a comprehensive evaluation of your company’s activities and performance. |
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PART 1.1
Operational Management
Analysis |
PART 1.2
Financial Performance
Analysis |
| This part provides direction in completing a comprehensive evaluation of your company's operations in five major areas of management activities and identifying related strengths and weaknesses. |
This part provides direction in completing a comprehensive evaluation of your company's current financial performance and comparative financial performance during the last three year, provided that the financial data is available. |
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12. OPERATIONAL MANAGEMENT ANALYSIS |
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PART 1.1: OPERATIONAL MANAGEMENT ANALYSIS
Operational Management Analysis, outlined below, comprises five tasks and is designed to enable you and your management team to complete a comprehensive evaluation of your company's operations in five major areas of management activities. |
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TASK No.1
General
Management
Analysis |
TASK No.2
Human
Resources
Management
Analysis |
TASK No.3
Financial
Management
Analysis |
TASK No.4
Operations
Management
Analysis |
TASK No.5
Marketing
And
Sales
Management
Analysis |
Evaluation
of 20
Check Points |
Evaluation
of 20
Check Points |
Evaluation
of 20
Check Points |
Evaluation
of 20
Check Points |
Evaluation
of 20
Check Points |
HOW DOES THE EVALUATION WORK?
Each task entails evaluation of 20 Check Points, as provided in the Business 2010 Pro Management Program, and each check-point, in turn, will require your company's management team to provide simple "Yes" or "No" answers to up to 10 Questions, depending upon the nature of your company's operations.
If you will need additional information about a specific check-point, you will be able to obtain it from 100 Check Points contained in Five Tutorials in the Business 2010 Management Program as outlined below.
THE BUSINESS 2010 MANAGEMENT PROGRAM
WHO SHOULD COMPLETE YOUR COMPANY'S EVALUATION?
The operational management analysis should be completed by up to five key members of your company's management team. Upon completion, the Business 2010 Pro Management Program will generate a set of Company Evaluation Reports.
These reports will help you and your management team to identify your company's strengths and weaknesses in various areas of operational activities and provide guidance for the development of your company's business plan. |
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13. FINANCIAL PERFORMANCE ANALYSIS |
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PART 1.2: FINANCIAL PERFORMANCE ANALYSIS
Financial Performance Analysis, outlined below, comprises three tasks and is designed to enable you and your management team to complete a comprehensive financial performance evaluation of your company activities. |
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TASK No. 6
Current
Financial Analysis |
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TASK No. 7
Comparative
Financial Analysis |
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TASK No. 8
Financial
Ratio Analysis |
- • Current balance sheet
- • Current income statement
- • Current statement of cash flows
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- • Comparative balance sheet
- • Comparative income statement
- • Comparative statement of cash flows
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Evaluation of up to 20 financial ratios related to the company's:
- • Liquidity
- • Solvency
- • Profitability
- • Ability to manage assets
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CURRENT FINANCIAL ANALYSIS
Current Financial Analysis entails evaluation of your company's current or most recent financial statements, namely, Balance Sheet, Income Statement, and Statement Of Cash Flows.
The information contained in these statements will be used by the Business 2010 Pro Management Program to calculate a series of financial ratios for the corresponding periods.
COMPARATIVE FINANCIAL ANALYSIS
Comparative Financial Analysis entails evaluation of your company's financial statements for the previous three fiscal periods, namely, Comparative Balance Sheet, Comparative Income Statement, and Comparative Statement Of Cash Flows.
The information contained in these statements will be used by the Business 2010 Pro Management Program to establish trends developed by your company over the last three fiscal periods, and to calculate a series of financial ratios for the corresponding periods.
FINANCIAL RATIO ANALYSIS
Financial Ratio Analysis entails calculation of up to 20 Financial Ratios, designed to describe your company's Liquidity, Solvency, Profitability and Asset Management.
WORK WITH YOUR ACCOUNTANT
To complete Financial Performance Analysis you may require assistance from your accountant or CPA, who may have your company's financial information on their computer.
Upon completion of Financial Performance Analysis you and your company's management team will be able to accomplish two important tasks of the Business Analysis outlined below. |
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TWO IMPORTANT TASKS OF BUSINESS ANALYSIS |
No. |
Details |
1. |
To assess all information and identify where your company really is in terms of its operational activities and financial performance results. |
2. |
To identify the strengths and weaknesses of your company and your company's management team.
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Note:
Certain portions of the Financial Performance Analysis, Plan, and Solutions can be performed by using existing accounting packages, such as Quicken ®, Quick Books Pro ®, Clarisys ®, and Peach Tree ® accounting programs. |
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14. BUSINESS PLAN |
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PART 2: BUSINESS PLAN
Part 2 - Business Plan, outlined below, is comprised of two parts and is designed to assist you and your management team in formulating a sound management plan in accordance with the previously concluded Business Analysis. |
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Part 2.1
Operational Management Plan |
Part 2.2
Financial Performance Plan |
| This part will enable you to complete a comprehensive plan of your company's operations in five major areas of management activities. This plan will be generated by the Business 2010 Pro Management Program based on results obtained from the Operational Management Analysis and adjusted in accordance with your company's specific needs. |
This part will enable you to complete a comprehensive plan of your company's financial performance for the forthcoming fiscal period. This plan will be based on results obtained from the Financial Performance Analysis and in accordance with your company's specific needs. |
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15. OPERATIONAL MANAGEMENT PLAN |
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PART 2.1: OPERATIONAL MANAGEMENT PLAN
The Operational Management Plan, outlined below, is comprised of five tasks and is designed to enable you and your management team to complete a comprehensive plan of action for your company's operations in five major areas of management activities. |
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TASK No. 9
General Management
Plan |
TASK No. 10
Human
Resources Management
Plan |
TASK No. 11
Financial Management
Plan |
TASK No. 12
Operations Management
Plan |
TASK No. 13
Marketing
And Sales
Management
Plan |
Plan for up to
20
Check Points |
Plan for up to
20
Check Points |
Plan for up to
20
Check Points |
Plan for up to
20
Check Points |
Plan for up to
20
Check Points |
HOW DOES THE PLAN OF ACTION WORK?
Each task will include a Plan Of Action for up to 20 Check Points, depending upon the nature of your company's operations. The Business 2010 Pro Management Program will examine the evaluation of each Check Point, completed during the Business Analysis stage, and generate a Plan Of Action Report for that Check Point.
You and members of your management team will have the opportunity to adjust this report and finalize your plan of action in accordance with your company's specific needs and priorities. If you will need additional information about a specific Check Point, you will be able to get it from the Business 2010 Management Program. You will be surprised how simple and user-friendly the whole process is! |
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16. FINANCIAL PERFORMANCE PLAN |
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PART 2.2: FINANCIAL PERFORMANCE PLAN
The Financial Performance Plan, outlined below, is comprised of four tasks and is designed to enable you and your management team to complete a comprehensive financial plan of your company activities for the next fiscal period. |
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TASK No. 14
Income
Statement
Budget
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TASK No. 15
Balance
Sheet
Budget
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TASK No. 16
Cash
Flow
Budget
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TASK No. 17
Financial
Ratio
Budget
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WORK WITH YOUR ACCOUNTANT (AGAIN)
We recommend that you evaluate all elements of the Financial Performance Plan together with your accountant or CPA and make adjustments in accordance with your company's specific needs.
Upon completion of the Business Plan, you and your company's management team will be ready for the final stage of the Business 2010 Pro Management Program, namely: Business Solutions. |
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17. BUSINESS SOLUTIONS |
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PART 3: BUSINESS SOLUTIONS
Part 3 - Business Solutions, outlined below, is comprised of five parts and is designed to assist you and your management team in implementing cost-effective management solutions in five major areas of your company's operations in accordance with the previously developed Business Plan. |
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PART 3.1
General
Management
Solutions |
PART 3.2
Human
Resources
Management
Solutions |
PART 3.3
Financial
Management
Solutions |
PART 3.4
Operations
Management
Solutions |
PART 3.5
Marketing
And Sales
Management
Solutions |
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18. ADVANTAGES OF THE BUSINESS ENGINEERING METHOD |
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ADVANTAGES OF THE BUSINESS ENGINEERING METHOD |
The Business Engineering Method offers several important advantages to business owners outlined below. (9). |
WHAT CAN THE BUSINESS ENGINEERING METHOD DO FOR YOU? |
No. |
Details |
1. |
Improved Management Knowledge.
Studying the five Tutorials in Business 2010 Management Program will help you and your management team improve your personal level of knowledge in each operational area of your company’s activities. |
2. |
Better Understanding Of Overall Business Activities.
Upon completion of studying the five Tutorials you and management team will have a much better understanding about how all operational activities fit together within your company. |
3. |
Improved Process Of Selecting The Most Qualified Managers.
Once you become more knowledgeable in various areas of business operations, you will be in a much stronger position to identify and select the most qualified managers to fill key positions within your company. |
4. |
Improved Level Of Management Control Within Your Company.
Once you become more knowledgeable about what key managers are supposed to do in terms of their specific functional responsibilities, and each manager is aware of that fact, you will be able to exercise better management control within your company. |
5. |
Improved Level Of Morale And Motivation Of Employees Within Your Company.
Once you and key members of your management team “speak the same language” in terms of operational business management, this will lead to an improved level of morale and motivation among managers and other employees within your company. |
6. |
Improved Efficiency And Productivity Of Employees Within Your Team.
Once you apply your newly acquired knowledge in various areas of business management, create a cohesive management team, and implement correct management guidelines, this will lead to improved efficiency and productivity within your company. |
7. |
Detailed Business Analysis Of Your Company’s Performance.
The first part of Business 2010 Pro Management Program will enable you and your company’s management team to complete a detailed business analysis of your company’s operational and financial performance. |
8. |
Comprehensive Business Plan For Your Company’s Operations.
The second part of Business 2010 Pro Management Program will enable you and your company’s management team to complete a comprehensive plan of action covering all five areas of operational activities within your company. |
9. |
Sound Business Solutions For Your Company’s Operations.
The third part of Business 2010 Pro Management Program will enable you and your company’s management team to introduce cost-effective business solutions covering all five areas of operational activities within your company. |
10. |
Improved Profitability Of Your Company.
Once you and your management team implement all of the necessary steps as prescribed by the Business Engineering Method, this will lead to improved profitability of your company and a higher return of the shareholders’ equity. |
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19. WHAT SHOULD YOU DO NEXT? |
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STUDY THE BUSINESS 2010 MANAGEMENT PROGRAM
Together with members of your management team, you should become fully familiar with all relevant Check-Points contained in the Business 2010 Management Program.
Upon completing this program, you will be ready to implement all relevant elements prescribed by the Business 2010 Pro Management Program for your company. As mentioned earlier, this program, consisting of the three parts outlined below, will become available in 2010.
PART 1: BUSINESS ANALYSIS
PART 2: BUSINESS PLAN
PART 3: BUSINESS SOLUTIONS
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CONTINUE WITH THE BUSINESS ANALYSIS, PLAN AND SOLUTIONS
Upon completing the implementation of various management solutions within your company, you must make sure that your company stays on the Road To Success. To accomplish this, you and key members of your management team must conduct a thorough Business Analysis on an annual basis to ensure that new problems are identified well in advance. This is the only way to prevent surprises in the future. Once a specific problem is identified you and management team must act immediately to rectify such a problem, while it is still small.
You and your management team must also pay full attention to all facets of your company's operational activities and develop a comprehensive Business Plan on an annual basis. By adhering to this plan and implementing sound and cost-effective Business Solutions you will provide your company with best chances for continuous growth and success in the future.
Note:
Please learn more about the Business 2010 Management Improvement Project, which is currently offered to Members of Business Management Club. The prime objective of this project is to conduct a detailed Business Analysis of your company, to develop the a comprehensive Business Plan and to prepare you and your management team for the implementation of cost-effective Business Solutions.
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20. WHAT DO YOU NEED FOR A LONG-TERM SUCCESS IN BUSINESS? |
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THE ARE NO SHORT-CUTS FOR A LONG-TERM SUCCESS IN BUSINESS
Can you imagine sending a child to university at age six after kindergarten, and expecting him to succeed in his studies? Or, can you imagine building a five-story structure on sand without a foundation and expecting it to remain intact? The answer to both questions is obviously “No”.
However, this is exactly what happens with the majority of entrepreneurs and small business owners who often start a business with very limited knowledge and experience in business management. Subsequently, 70 percent of all small businesses fail during the first few years of their existence at a staggering loss of approximately $75 Billion per year.
You should remember that the definition of “Insanity” is doing the same thing over and over again but expecting different results...
This definition also applies to running a business. This means that small business owners who plan to start a business without proper business knowledge, risk becoming a part of the next 70 percent of failed businesses.
For this reason, there is only one conclusion:
There are no short-cuts for a long-term success in business. If you want to succeed, you must have the appropriate knowledge of business management.
That’s what the Business Engineering Method is all about. This method does not provide a 100 percent guarantee for success in business. However, it is designed to enhance your chances for a long-term success in your business. The rest is up to you! |
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21. FOR SERIOUS BUSINESS OWNERS ONLY |
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ARE YOU SERIOUS ABOUT YOUR BUSINESS TODAY? |
Reprinted with permission. |
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22. THE LATEST INFORMATION ONLINE |
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WOULD YOU LIKE TO LEARN MORE? |
As an added benefit to all members of Business Management Club, you will have access to the Latest Information Online on various topics discussed in this Check Point. You will be able to access this information through Business Links included in the downloadable version of this program. These links are updated on a continuous basis.
Note:
Learn more about your First-Year Free Membership in Business Management Club. |
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LESSON FOR TODAY:
Your Business Is An Orchestra And You, As The Conductor, Must Know
What And When Your Musicians Must Play To Create A Symphony! |
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