Business Analytic by RACI.com provides a professional business Risk and Value Driver Assessment (RAVDA) to highlight the strengths and weaknesses in any business.
The RAVDA consists of the 10 key success factors listed here
2. Business performance
3. Business growth
4. Business Risk
6. Management systems
7. Customer and Market demand
10. Succession and Estate planning
There are a series of questions and answers relating to each of the 10 success factors.
Answer all questions as accurately as possible all answers are rated Red, Amber, Green and graphed against the 10 key success factors.
You can then drill down on each Success Factor to diagnose what is working well “green” not so well “Amber” and what needs your immediate attention “Red”
Utilisation of this tool
Business Owners – overall check-up of business health and areas of the business needing further support.
Business Advisors – Utilise Business Analytics to engage your client and allow you to instantly demonstrate issues within the company and allow you to formulate strategies to improve overall business performance.
Business misalignment – In many businesses a department manager may believe their department is operating to perfection when in reality there are conflicts between the departments that is reducing efficiency or profitability. For example the sales department is losing sales due to poor customer service at the help desk. The Customer service manager on the other hand is unaware of the problem and the cost to the company in lost customer, revenue and internal conflicts not being resolved.
Solution - have all senior managers independently complete the Business Analytics RAVDA to provide an independent senior manager assessments so you can compare the different views. Next sit with the senior managers to compare the differences in the RAVDA results and open discussion on how these differences are impacting the business and how reconciling these will positively impact the business efficiency, culture and overall profitability.
Company Directors - have the company directors independently complete the RAVDA. With the Directors present compare the differences in the RAVDA results focusing on the Succession, Estate planning and owner success factors. Compare the differing responses and open discussion around these important points.
Business Coaches – Utilise Business Analytics to engage your client and allow you to instantly demonstrate problems within the business and allow you to discuss strategies to improve overall business performance.
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