Deal With Credit Issues

Some organizations develop patterns of thought that enable partnerships to produce the outcomes desired. Others choose to operate with attitudes that preclude any chance of success. Reflect on your own organization using the Past/Future Orientation Assessment (Assessment 7).What is its orientation: past or future?

Win-Lose vs.Win-Win Style of Conflict Resolution. A win-lose conflict resolution style (past orientation) creates losers. Losers are neither happy, self-satisfied, nor proud. They want to get even. A win-win conflict resolution and problem-solving style (future orientation) works toward achieving a mutually agreeable plan. In terms of its conflict resolution style, is your organization closer to a past orientation or a future orientation?

Individual Performance vs. Teamwork. A team spirit requires a certain amount of trust between members (future orientation). Without trust and openness, teams cannot perform well.Without appreciable teamwork, an organization won’t achieve potential synergies, nor will it encourage creativity and innovation (past orientation). How would you rate your organization’s ability to support the concept of teamwork?

Are the most effective and relevant performance measures in place to monitor and assess the effectiveness of financial
decisions?

Have you analysed key business ratios recently?

Is there a positive attitude in your organisation to budgets and budgeting?

Is decision-making focused on the most profitable products and services, or is it preoccupied with peripheral issues?

What are the least profitable parts of the organisation, and how will these be improved?

Are market and customer decisions focused on improving profitability? Too often the emphasis is put on such objectives as increasing market share or sales, which may involve a reduction in margins and greater financial exposure.

How efficiently is cash managed in your organisation? Do your strategic business decisions take account of cash considerations, such as the time value of money? Are you giving more credit than you are receiving?