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Chartered Management Accountants

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9 Characteristics Showing In A Not So Successful Businesses !

  • The vision of where the business should be going isn't quantified and therefore can't be properly explained to managers to get their buy in.
  • A plan is made but there's no measurement to see where the business is actually going and corrective action is just down to guesswork and gut feel.
  • The business has lots of data but doesn't know what to do with it to convert it into meaningful business intelligence.
  • The business has made a decent profit but there's never any spare cash.
  • The plan looks good but no one knows how much cash you need to make it work.
  • The first the MD knows that the business has hit its overdraft level is when the bank manager calls him.
  • Credit Control has a good reputation but its not measured so no one really knows whether its at its best.
  • The Board feels like nothing gets done unless it does it itself.

 

 

There's loads more one liners but these seem quite common.

 

All of these can be overcome by quantification and measurement. Many become self controlling as a result.

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