Newspaper article The Journal (Newcastle, England)

Is Your Business Working for You?

Newspaper article The Journal (Newcastle, England)

Is Your Business Working for You?

Article excerpt

Most businesses have some potential to make savings, sell more, streamline processes and boost profitability. With the day-to-day pressures of running and managing a business, it's often difficult to find time to step back and analyse the performance of the organisation as a whole and to find out what your competitors are doing. But unless you know how well you are doing now, it is difficult to identify ways to improve performance for the future.

As all elements of the business interlink and one area can impact on the effectiveness of another, the profitability of your business can depend on reviewing how efficient and integrated your business operations are.

In today's competitive climate the importance of staying ahead and keeping up-to-date with industry and sector developments as well as changes in technology are vital when striving for competitive edge.

With the right information and independent support you can carry out thorough process reviews, enabling you to identify key areas where operations could run more efficiently to ultimately increase productivity and profitability.

IN THE HOT SEAT ( RICHARD HALL

Richard Hall, one of a team of Business Link advisers supporting North-East companies as they develop and grow, regularly works with businesses looking to improve their productivity through clear business planning.

Richard, who is based in County Durham and specialises in innovation is a valuable resource for developing companies wanting to review and improve efficiency and processes.

Richard looks at some frequently asked questions around the practicalities of reviewing business operations.

Q. IS THERE A NEED TO REVIEW MY BUSINESS' PROGRESS?

A. It always pays dividends to think about long-term strategic planning and carry out regular reviews. Through time markets develop, trends shift, customers' needs change and technology develops so it is important to continually review your situation to stay ahead of competitors.

Q. IF SO, WHAT IS THE NEXT STEP FOR MY BUSINESS?

A. Developing a clear business strategy will help to highlight areas for improvement and show practical ways forward. …

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