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Establishing the framework for a successful business

Updated 1 September 2019

Any successfully managed business has established and maintains a framework for business improvement and/or growth. Business management and quality frameworks commonly include a number of business functions or disciplines which are involved in a whole-of-business, continuous improvement cycle of planning, management, review and improvement. Whilst overlapping in practice, the following are generally included as business framework disciplines to ensure appropriate focus by the business on each area:

  • strategic management and leadership
  • innovation and creativity
  • financial and commercial management
  • trade and export development
  • people, skills and training
  • operational processes
  • customer focus and marketing
  • information systems
  • environmental management
  • WHS management
  • external information, partnerships, networks and
    assistance.

Reviewing and continuously improving your business

Many businesses use their quality management systems to ensure their business continuously improves, whilst others access industry sector based continuous improvement tools, or generic tools such as the Balanced Scorecard. In order to get your review process started, listed below are some sample review questions that challenge your business to reflect on its strategy and operations in each of the business disciplines listed above. A full review of each area should entail the measurement of results and improvement plans.

REVIEWING YOUR BUSINESS
Strategic management and leadership  Innovation and creativity
  • Where do you want your business to be in three years’ time?
  • What major changes are needed to achieve those goals?
  • Are new products/services customer driven or internally driven?
  • Do you have a system to turn ideas into reality (and revenue)?
Financial and commercial management  International Business
  • Do you analyse 2-3 years of results and identify trends?
  • Are your job tracking and purchasing systems adequate?
  • Is this a current strategy for your business?
  • What resources do you need for exporting?
People, skills and training  Operational processes
  • Is there a people development plan that is linked to your
    business needs?
  • Do you have a succession plan in place?
  • Do you continuously review the points at which the process
    could be more efficient?
  • Are lean principles applied?
Customer focus and marketing  Information systems
  • Are your key customers’ requirements changing in relation to pricing/quality/delivery time/service specifications?
  • Do your software packages adequately manage financials, manufacturing, inventory and purchasing?
Environmental management  WHS management
  • Can you measure your increased water/energy efficiencies? 
  • Do senior management understand the hazards and risks and how they are being controlled?
External information, partnerships, networks and assistance
  • Do you collaborate/partner on new products, have access to specialist support, secure government grants?
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