Legal Toolbox

Business Performance Review

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Section 1N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
We have a written, flexible plan, which sets out our goals and targets
We regularly review our performance against the targets set in our business plan
We update our business plan at regular intervals and formally redevelop it for the beginning of each financial year
We run our business in accordance with the strategies in our business plan
We have clearly identified where we want the business to be in five years time and beyond
Knowledge of our business's strengths and weaknesses have been documented
Future opportunities and threats to our business have been identified
The business model that will maximise our returns and allow us to grow is clear to us
Developing strategies is a central part of our planning process
From each strategy, we identify the processes that need to be implemented
We do not get distracted from our core business or our objectives
We quantify our objectives and set time frames for them to be met
Section 2N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
We take the time to discover why our clients buy from us
We contact our customers on a regular basis
We understand the reasons why we gain, retain or lose customers
Our marketing strategy is understood by our managers and employees
Our database tells us what the average spend per customer is and how often they purchase from us
Competitors of our business have been identified and we know how they operate
Each year we analyse which of our clients are profitable and which are not
We know how we can compete with our competitors (i.e.- price, service, quality, promotions)
We have a clear list of marketing activities and when they occur during the year
We have a referral system and thank or reward those who provide referrals to us
We allocate time and other resources to market our products/services
All marketing literature has a consistent brand, look and message that attracts our defined ideal customers
Section 3N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
Our employees are well trained in how to sell our products/services in a consistent way
Our employees take pride in always delivering excellent customer service
We have set benchmarks for servicing our clients. All employees are aware of these benchmarks
We monitor the results of customer service against our benchmarks
We monitor, record and analyse our sales activity regularly
Sales in each category of products/services are recorded independently
Our employees are extremely knowledgeable in our products/services (including non-sales employees)
We provide a form of value adding to each sale that we make
Our business never discounts
Our sales people have a bag of sales tools (brochures, demos etc) that are critical to our sales process
Our business always acts on any leads or referrals immediately
Each year we break down our clients into segments and decide how to increase sales to those segments
Section 4N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
Our business has a well defined procedures manual for each department and task within the business
Our products/services are checked regularly to ensure the highest quality is maintained
We have calculated the maximum we can produce at full capacity
We plan ahead for sales peaks and troughs and are able to adjust our output to the desired levels
The level of efficiency of each employee is monitored on a regular basis
We know our stock levels and ensure that these levels turnover regularly
Our equipment is sufficient for our needs and provides efficient production
Processes within our operation are well planned, documented and communicated to the necessary employees
We review our processes and systems regularly to ensure we are doing it in the most effective and efficient way
We calculate the maximum output we can achieve for the floor space that we occupy
Our plant and equipment will adequately support our business needs for the coming year
We allocate adequate resources (including time) to product development
Section 5N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
We produce meaningful financial reports regularly
We have defined key performance measures at the business, team and individual level
We monitor our key performance indicators often
Cashflows are monitored and we can predict with certainty when we will have excess cash and when we will be cash negative
Each department knows what our expenditure budget is and the purpose of the allocated funds
We have access to cash reserves that ensures the liquidity of our business is never a threat to our existence
We hold no more stock than necessary
Our customers/debtors pay on time, all the time
We pay our suppliers/creditors on time every time
We have systems in place which control debtor & creditor levels
We have a daily backup system in place for our financial data
Only the authorised personnel have access to our financial system
Section 6N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
We can generate sufficient funding to support our development plans
We do not rely too heavily on borrowings to finance the business
Time has been taken to calculate the profit margin within each product/service we provide
Budgets are set and monitored against actual income & expenses on a regular basis with reforecasting adjusted accordingly
An asset register is maintained and checked regularly for current accuracy
We know well in advance when we can purchase capital equipment for the business
Our business returns an acceptable profit in line with owners expectations
We know what the benchmarks are of our industry's financial performance
Each year we review the performance of our business and where we can improve
We never make uninformed decisions
Costs are researched, planned and budgeted
We measure the cost of quality and have programs in place to reduce waste
Section 7N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
Employees within our business have a documented training program
We evaluate the impact of training and development on performance
New employees to the company or to a new job are given the training and development they need to do the job
We have a training budget and encourage employees to improve their skills
We have a commitment to raising skill levels through active training & development
Everyone is made aware of the training and development opportunities open to them
All our employees have a well defined position description detailing their role and responsibilities
Our entire team have been heavily involved in the development of our business plan
We find ways to reward new ideas that benefit the company and to employees who perform above expectations
We regularly appraise our employees on their performance
We consider our team morale to be excellent within our business culture
Everyone receives regular updates on progress towards our business objectives
Section 8N/ANon ExistentPoorly DoneCould Be BetterGoodExcellent
We have the processes in place to identify hazards that could cause harm to people, property and the environment
A complete workplace health and safety procedures manual exists and is kept up to date
We investigate the causes of incidents and injuries in our workplace to prevent further incidents
On a regular basis, we assess the level of risk of identified hazards and implement measures to reduce risk
We are totally aware of our employer obligations under workplace health and safety legislation
Our employees are trained on how to perform their tasks and operate equipment safely in line with our documented WHS procedures
A system exists to audit and test our employees to ensure that they are complying with workplace health and safety processes
We are aware of which industrial relations instruments we must comply with and ensure all our workers are covered correctly
When employing people, we know we meet national employment standards
Our time and wages sheets, payslips and superannuation payment requirements are maintained in accordance with legislation
We provide a letter of offer and employment agreements to all new employees
Our workcover obligations are maintained correctly, including any contractors or sub-contractors who predominantly work for us



Grant Thornton QLD Law Group
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