Grade Your Business Management IQ

Take a high-level assessment of your strengths and weaknesses

Your operation 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, Klinefelter suggests. In areas where you are deficient, set concrete goals to improve.  

A = YES
B = SOMEWHAT
C = NO
_______ 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? Is income evaluated on an accrual adjusted basis or just cash basis? Do you understand your key financial metrics? 

_______ Do you have a marketing plan, and do you follow it? Do you know your per-unit cost of production for each commodity and enterprise?

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

_______ Are you a consistently good producer? 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? (Ex: personnel and safety policies, standard operating procedures, etc.)

_______ Do you hold regular meetings to address concerns, report on business performance and expectations? Is that information shared with all vested parties?
_______ Are you a member of a peer advisory group of top managers? 

_______ Are you getting better before you get bigger?

Little actions can equal big results for leaders. Read a few pieces of leadership advice from military 
heroes, leadership experts, award-winning coaches and athletes at AgWeb.com/6-leadership-tactics

Read more from Top Producer.