By Hank Moore, Corporate Strategist
An Institutional Review is a look at activities that contribute to an organization’s success and well-being. This transcends a traditional audit and identifies factors that already contribute well to the organization, rather than simply looking for ways to cut, curtail, or penalize. It is more than just trimming the fat and criticizing incorrect activities in the organizational structure.
This review is the basis for most elements that will appear in a strategic plan, including the organization’s strengths, weaknesses, opportunities, threats, actions, challenges, teamwork, change management, commitment, future trends, and external forces.
These are the points at which every company must assess its own status and chart the process forward:
The Big Picture
What a Review Could Include
The components and professional specialties that could be represented in a performance review, per each branch on the Business Tree, include:
Branch 1: Core business, core industry.
Branch 2: Environmental, safety, IT systems design and computer software, training for computers and technology, architecture, engineering, and legal.
Branch 3: Accounting, banking, investments, financial planning, benefits programs, real estate, fundraising for nonprofit organizations, and investor relations services for public companies.
Branch 4: Training for diversity, teambuilding, professional education and development, motivational and executive development mentoring, human resource administration, employee testing, behavioral research, executive search, talent pools, reorganizations, downsizing, executive outplacement, labor issues, and negotiating.
Branch 5: Sales strategy, sales training, marketing strategy, customer service, advertising, direct marketing, public relations, special events, video production, promotional specialties, graphic design production, and Website design-production.
Branch 6: Business performance reviews, research, quality management programs, government relations, public policy, community relations, and re-engineering.
Branch 7: Corporate strategy, visioning, strategic planning, futurism, thought leader program, and emerging business issues.
Expected Results of an Institutional Review
What Well-Run Companies Accomplish
Grounding Factors for Business
Being stable does not mean an organization stands still. Upholding traditions does not necessarily mean one vehemently resists change. Being a family run company does not mean outside stakeholders do not exist. Lawyers go to school to study the law, not how to become a lawyer and run a legal practice. The same analogy holds true for accountants, engineers, doctors, and architects. All are taught professional skills but must absorb along the way the business talents necessary to run their practices.
Authority figures must be effective disciplinarians. They also must be recognizable role models to inspire commitment from their team members. The best leaders are adept at the balancing acts of business priorities.
Organizations are collections of individuals, team clusters, operating units, departments, management philosophies, and ideologies. To gauge the company’s future direction and avoid roadblocks to success, independent reviews must be conducted. The objective is to benefit from changes, rather than become the victim of them. By spotting trends and recognizing inner strengths of your existing company, you can compete and excel more effectively than without any strategy at all.
A regular contributor to www.trainingmag.com,Hank Moore has advised 5,000-plus client organizations, including 100 of the Fortune 500, public sector agencies, small businesses and nonprofit organizations. He has advised two U.S. Presidents and spoke at five Economic Summits. Moore advises companies about growth strategies, visioning, strategic planning, executive leadership development, Futurism, and Big Picture issues that profoundly affect the business climate. He conducts company evaluations and performance reviews. He creates the big ideas, mentors the board members, reorganizes the corporate culture and anchors the enterprise to its next tier. The Business Tree is Moore’s trademarked approach (and the title of his current book published by Career Press) to growing, strengthening, and evolving business, while mastering change. For more information, visit http://www.hankmoore.com.