RECOMMENDED CORRECTIVE ACTION
CATEGORY
ACTION DESCRIPTION
01. BOARD
Indicates that the board's decision-making processes are highly effective and the board is making informed decisions that align with the organization's goals and objectives. The board's composition and governance structure is also optimal for effective decision-making.
02. ACCOUNTS
The organization has a strong account management system with efficient bookkeeping, accurate financial reporting, and good tax compliance. The assessment has identified areas for further improvement, such as implementing more advanced financial forecasting and analysis techniques.
03. FINANCE
The assessment indicates that the organization's financial processes and practices are effective and efficient. Only a few areas need minor improvements, such as optimizing financial reporting, enhancing financial transparency, and improving financial compliance. To maintain this positive trend, the organization could continue to invest in financial analytics and reporting tools, develop more robust financial policies and procedures, and train employees on financial compliance.
04. LEGAL
You should continue implementing the best practices and maintain your robust legal processes to mitigate potential risks. Consider making minor improvements to your legal framework to enhance it further, even though your documentation and legal agreements are already clear and aligned with your company's overall strategy.
05. HUMAN RESOURCES
You should acknowledge that your human resources department is performing adequately, but there is always space for improvement. While employee retention rates are decent, focusing on enhancing employee engagement and satisfaction can further enhance the organization's overall performance. Consider implementing more flexible work arrangements, such as remote work options, which can contribute to a better work-life balance and increased job satisfaction. Offering more professional development and career growth opportunities to employees can help them feel valued and motivated in their roles. By prioritizing these areas, you can create a positive and supportive work environment, leading to increased employee engagement and overall satisfaction.
06. STRATEGY
The results suggest that the company has a solid understanding of its market position and competitive landscape and has developed a clear strategic plan to capitalize on its strengths and address its weaknesses. There is still room for improvement in terms of execution and implementation. To improve in this area, the company may need to focus on building a strong culture of accountability and ownership, establishing clear metrics for success, and providing ongoing training and support to its employees.
07. RESEARCH & DEVELOPMENT
R&D efforts seem to be on track, with some investment in new product development and market research. There is space for improvement in terms of innovation and exploring new technologies. You could benefit from expanding your R&D team and collaborating with external partners to bring fresh perspectives and ideas to the table.
08. TOOLS
You have low satisfaction with the tools currently in use by your business. You may be experiencing technical difficulties or a lack of functionality, which can affect your productivity and overall performance. You may benefit from researching and testing different tools that suit your business needs and investing in upgrading technology.
TOTAL SCORE DEFINITION
RANGE
SCORE LEVEL
DESCRIPTION
>33%
Level 1 - Strategic
Indicates that the client has a low understanding of how to use these tools in their business, which limits their ability to make informed and strategic decisions. Training or consultancy may be necessary to improve their understanding.
34-66%
Level 2 - Preferred
The client has some understanding of these tools, but there is still room for improvement to optimize their use in their business. Specific recommendations could be offered to improve their implementation and utilization.
67-90%
Level 3 - Maintained
Indicates that the client has a good level of understanding and use of these tools, allowing them to make more informed and strategic decisions in their business. Additional suggestions could be offered to further optimize their use.
91-100%
Level 4 - Excellence
The client has an excellent level of understanding and use of these tools in their business, allowing them to effectively make informed and strategic decisions. In this case, additional recommendations could be offered to help the client maintain their competitive advantage and continue to improve.