- What approach does your business use for fiscal governance? Are these processes (budgeting, forecasting, budget utilization tracking, etc.) managed using a FMS or ERP system, or are they handled manually on Excel spreadsheeets?
- Are you balancing supply and demand through a Sales and Operations Planning process, or some other approach to sync up your commercial and production activities?
- Do you have a Portfolio Management process in place to manage resource allocation across commercial activities?
- Have you established a PMO (Project Management Organization) within your business? Is it guided by your Portfolio Management process?
- Are you using a strategic framework or platform to cascade 3-5 goals throughout the entire business, and to track progress on a routine (e.g. quarterly) basis?
- Do you have a Performance Management process and/or platform to help managers perform regular reviews of their employees? Are these reviews conducted more than once per year?
- How do your managers keep strategic goals front-of-mind for their teams, on a day-to-day basis? Is your business using a structured process or enterprise application?
- What tools or platforms do employees use to communicate the challenges and barriers that arise in real-time, so management can address these issues?
- Has your company established a formal leveling framework to set clear expectations about what skills, experience, and education are needed for promotion to each level of the organization?
- Do people managers use a Learning Management System to assign training to their employees and track completion?
- How is feedback gathered from employees on the quality, fit, and applicability of the trainings they take?
- What processes or tools do managers use to follow up on training, to determine whether the concepts and methods learned in training are being incorporated into their work?
Got it covered? Or do you see gaps?
If you weren't satisfied with your answers to this short "temperature check," let Sequent help. These questions are just a sampling of the benchmarks we use in the process of helping our clients conduct a diagnostic of their business and its state of management maturity. Our evaluations and recommendations have a bias toward lean methods vetted with research and data. (Or if you'd like to pilot a more experimental approach, we'll happily connect you with our favorite Big 4 management consultancy to help.)