Grade Your Management IQ

The power of planning.
The power of planning.
(File Photo)

Your veterinary business can be moving forward, but still falling behind.

“Management is more than just being smart and using your head,” says Danny Klinefelter, Texas A&M University professor emeritus. “Strategic management is about anticipating, adapting to, driving and capitalizing on change.”

Grade yourself in the following areas (i.e. with an A, B or C), Klinefelter suggests. In areas where you are deficient, set concrete goals to improve.

Are you strategic? How do you handle change? _______

Do you provide effective leadership? Do you communicate a clear vision of where you want the business to go? _______

Do you have a strong culture that attracts top talent? What is your turnover rate? _______

Do you use sound financial management practices? Do you understand your key financial metrics? _______

Do you have a marketing plan, and do you follow it? _______

Do you control costs, including family living? Are assets used effectively and efficiently? _______

How do you stack up against the competition? _______

Do you set business priorities and follow through on them? _______

Do you have a succession plan? Do you also have development and transition plans? _______

Do you see and understand the big picture? Do you have a strategy for major economic or policy changes? _______

Do you have policies and procedures in place? (personnel and safety policies, standard operating procedures, etc.) _______

Do you hold regular meetings to address concerns, business performance and expectations? Is that information shared with all vested parties? _______

Are you a member of a peer advisory group? _______

Are you getting better before you get bigger? _______



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