This assessment tool can be used to get a reasonable impression of the quality of the financial management practices in your business.
You could use results of this assessment tool to: 1) ensure a strong foundation from which to add a product or undertake a major change effort; 2) do an internal analysis as part of an overall strategic planning activity; 3) develop a common understanding among leaders regarding what needs to be done in your business; and 4) assess how the operations in your business compare to various "best practices."
Each indicator is marked as Essential (“E”), Recommended (“R”), or Additional (“A”) practices for the typical business.
Next to each specific indicator are choices, including “Met,” “Needs Work,” “Not Applicable,” and “Don’t Know.” After reading each indicator, place a check mark under the appropriate choice as to how your business performs to that indicator.
After you have completed the assessment, print out the results by using the "Print" command in your browser (probably available by clicking on the "File" command). Notice which areas need work, especially those marked "E".
References to Boards of Directors apply to businesses formed as corporations.
This on-line assessment tool is provided by Authenticity Consulting, LLC (www.authenticityconsulting.com) and has been adapted from a tool developed by the Greater Twin Cities United Way.