Business Management Raising finance for your business How to present a request for finance to your bank The value of outsourcing Six steps to an effective business plan Decide what your company stands for Cut your utility costs Insuring your business Dealing with employee absence Don't fall into the credit trap Employee share schemes Improving productivity Reduce your wage bill The national minimum wage How to increase your profit Managing for growth Buy, HP, or lease? Staying on your feet Prevent theft in the workplace Internal controls help crack fraud Could your business survive without you? What is your business worth? Seven steps to successful business transition How to balance your bank account How to balance your sales control account How to balance your purchase ledger

Managing for growth

Is your business a dynamic enterprise set on growth, or has it lost its impetus and gone senile? Understanding the difference between a growing business and an ageing business can help you keep your firm on course for growth, or re-energise it if it has run out of steam.

One way to evaluate your business is to examine your modus operandi - how you go about doing things. Does your firm have a 'growth culture' in which innovation and enterprise are encouraged, or is it stifled by caution, regulation, and control? Are you open to ideas or satisfied with your way of doing things?

You can find out by completing the business growth indicator in the panel. If you score mainly in the left column, your business is probably quite healthy and growth orientated; but if you score mainly in the right, you should think seriously about giving your business a new lease of life.

Another way to evaluate your business is to look at your management priorities. Most businesses have four managerial functions:

• Production - making sure things are produced, whether they be products, services, or simply chargeable hours.
• Administration - keeping business activities in line with plans, deadlines, and standards.
• Enterprise - fostering continuous development and innovation in products, services, marketing strategies, etc.
• Integration - ensuring that all personnel and activities are pulling together to achieve the firm's goals and objectives

In simple terms, a growing business is one in which P and E predominate, and an ageing business is one in which A and I predominate.

However your business shapes up, if you think there may be a way we can help improve your business, do let us know.

In each row, tick the choice that best describes your business, you can do this on screen or print this page out.

How well is your business performing?

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