The Tribune

Companies throughout the world use October to begin the process of planning for a new calendar year. They engage in talent development for their staff, formulate strategic business plans, create company goals and objectives - all in the hope of enjoying a more productive and profitable new year.

While these activities are fruitful - and essential - to efficiency, for the savvy business professional they are all secondary. What must precede all these activities is a full assessment of the activities, products, services, processes and systems employed in the daily functioning of the business.

The wise Bahamian visits the doctor for a check-up annually to identify any abnormalities, and to ensure their bodies are in good health until the next visit. Likewise, businesses must use diagnostic tools to expose gaps and deficiencies that might stagnate growth and development, ultimately leading to a corporate death.

Company needs assessments are not new to the market, and many companies have certainly used them at some time in their business’s lifespan. Some irresponsible business persons delay, and wait years or until the company is on the verge of collapse, before some intervention is sought. Needs assessments are probably best defined as a diagnostic tool used by businesses to determine priorities, make organisational improvements or allocate resources. They involve determining the needs, or gaps, between where the company sees itself in the future and where it is in its current state.

Most needs assessments follow a pattern of four steps, which help the business chart the way forward. These steps include:

a) Exploration. This first phase of the process seeks to determine those gaps or areas of weakness that are known to the company, and to determine the root causes of why they are not being addressed or resolved.

b) Analysis and Data Collection. This second phase is the inventory stage, where businesses come clean with all that they are doing and/or not doing. It is the tell-all phase, and an opportunity to figure out not only what is being done, but also whether it is being done systematically or effectively.

c) Utilisation. This third stage interprets the data collected, and begins the process of assigning actions to the areas requiring special attention. It creates steps to be taken in light of the organisation’s resource and budget limitations, so that some measure of growth might be experienced.

d) Evaluation. This final stage, although sometimes overlooked, is crucial in determining whether the initial objectives were achieved. The evaluation here is an ongoing one, where the business consultant/developer is engaged in monitoring the progress made as a result of the findings, and continuing the process of navigating the way forward.

For a FREE diagnostic Needs Assessment during the month of October, e-mail tcconsultants@coralwave.com or call 242.455.5208. Your business success in 2016 may depend on it.

• NB: Ian R. Ferguson is a talent management and organisational development consultant, having completed graduate studies with regional and international universities. He has served organsations, both locally and globally, providing relevant solutions to their business growth and development issues. He may be contacted at tcconsultants@coralwave.com.