Companies audit their financials every year, but most companies don’t have an audit plan for the other 7 business processes that are just as critical to the company’s success. These business processes have regulatory, financial and performance requirements and are material to the business. They need to be timely, cost effective, reliable, scalable and sustainable. These processes can be characterized as:
- Design and develop products and services
- Acquire and support employees
- Market and sell
- Acquire and disseminate information
- Deliver Services
- Produce and deliver products
- Manage the supply chain
(You can find out what each of these assessments consist of by clicking on them to take you to an assessment syllabus)
Of course, every business has unique needs and there are many other business processes that companies also need to be great at. Group50’s Company Physical ® contains additional assessments that will tell leaders how processes such as HR practices, Quality Management, Continuous Improvement, etc. can be be seen at:
In each assessment, we will review the effectiveness of each process from a lean business perspective and look at the following:
- Process effectiveness
- Support of corporate objectives and strategies
- Employee skill level
- Systematization and existence of shadow systems
The assessment report will include an operating and strategic gap analysis and a series of short, medium and long term recommendations for significantly improving the audited process. Once an assessment has been done, Clients can take advantage of our planning and implementation workshops that are designed to have the leadership team create an implementation plan with a business case, cost model, detailed roadmap and project schedule.
Leaders rely on the heads of critical business processes to make those processes as cost effective as possible. You shouldn’t consider a Company Physical® if you can fully dismiss each one of the following questions:
- Can you definitively say that each one of these are compliant and the best they can be?
- Are there any of these processes that you and your peers believe could be significantly better?
- Does each leader in your business have a plan for improving the performance of the process they own?