BUSINESS DIAGNOSTIC
Business Diagnostic
Today, we’re living in an era of rapid change and ever-increasing expectations and pressure. Customers expect businesses operating in or alongside the Tourism & Hospitality industry to be more personalised, relevant, digitally savvy and easy to do business with, while businesses are being directly impacted by the rate of technological change and the real threat of digital disruption.
At the same time, owners and shareholders of these businesses are exerting substantial pressure on them to optimise, to improve their performance, to identify growth opportunities and to work out how to best to future proof themselves. There’s never been a more important time to ensure your business is on the right path to a sustainable future.
The B Hive’s Business Diagnostic is a business health check designed to:
- assess the relevance of the vision and strategy of the business in the current context;
- capture and analyse insights that can identify the root cause of issues and the most critical areas for improvement: and
- improve a businesses’ operational performance and/or hone in on a problem or high potential areas of the business.
The B Hive adopts a strategic approach to explore:
- the things we know that we know;
- the things we know that we do not know; and
- the things we do not know or cannot know.
Why a Business Diagnostic?
A Business Diagnostic is right for you if you’re facing any or all of the following scenarios:
- You want to future proof your business
- You want to benchmark your business
- You want to identify possible areas for growth
- You want to increase profitability
- You want to improve efficiencies, processes and governance
- You want to optimise your go to market (GTM) strategy
- You want to reduce costs or establish savings opportunities
Who is it ideal for?
- Tourism, Travel, Hospitality and Leisure businesses
- Suppliers to Tourism, Travel, Hospitality and Leisure businesses
- Any size business, from small to large
What are the main components of a Business Diagnostic?
A Business Diagnostic consists of:
- Stage 1 – Discovery – a high level review of the business in order to reveal areas of focus and opportunity
- Stage 2 – Hypothesis Testing – generating and validating the assumptions and predictors of performance
- Stage 3 – Deep Dive – a deeper analysis to make observations and identify patterns, pain points and root cause issues
- Stage 4 – Action Plan – a high level plan for implementing recommendations
What’s covered in a Business Diagnostic?
We will look at the following areas:
- Leadership and Strategy
- Business Context and Competitive Landscape
- Operational and Business Model
- Benchmarking
- Market and Brand Positioning
- Financial and Cost Management Analysis
- Performance Drivers
- Product Portfolio Analysis
- Customer Acquisition and Retention
- Systems and Process Review
- Technology Capability Assessment
- Business Intelligence and Data Analytics
- People Capability Assessment
- Organisational Structure
Format:
A Business Diagnostic is carried out using a combination of:
- Stakeholder Interviews;
- Online Surveys;
- Data and Reporting Analysis; and
- Desk Research.
At conclusion, clients will receive a detailed Final Report with findings, insights and recommendations.
Duration:
- The duration will vary depending on the complexity of scope and the size of business.
Testimonial
We engaged Tammy and the B Hive to help us work our way through a challenging period for our company. Tammy and the team have provided great guidance and support through a range of activities including stakeholder interviews, various team workshops and research initiatives delivering a cohesive strategy which was endorsed by the Board.
Their findings and recommendations extended to all areas of our business including the review of current practices, the identification of new opportunities, creating clear value propositions for the various parts of our business and a direct way forward for CruiseCo.
The B Hive were not only incredibly easy and great to work with, they also over delivered when it came to the outcomes we were looking for. They helped frame better conversations across all levels of the business and we will continue to use them to understand all of our options as we now start to implement the outcomes of their activities.
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