Business owners have a new tool in their toolbox thanks to three local professors and business management consultants.
Oak Bay’s Rich Mimick, the University of Victoria’s Director, Business, Management and Technology programs in the Division of Continuing Studies, along with Royal Roads University business professors Mike Thompson and Terry Rachwalski have created Business Diagnostics (3rd Edition).
A self-published book, previous editions have been in print since 2004 and have sold more than 3,000 copies worldwide. The third edition is updated to include digital marketing and new business models.
Described as the ultimate desk-top business resource guide to diagnose, evaluate and grow a business, the book is used in business classes for step-by-step case analysis, but is also valuable for the small business owner or entrepreneur facing time constraints in acquiring and updating business management skills, the authors say.
Mimick says the book covers the critical areas of business. The “Business Diagnosis” process completes a series of “diagnostic checks” and includes tools and templates to assist the business owner or student.
Business owners don’t have time to attend business school courses, Thompson notes.
“They need quick answers and easy-to-use systems. Business Diagnostics is designed as a practical checklist that can be read over a few evenings or kept on your desk as a reference guide.”
Rachwalski says the core of the system is the “Business Diagnostics Framework.”
“As consultants, we often see business people jumping into strategic planning before they have completed an external scan of their industry and competitors looking for threats and trends,” she says.
“Inevitably, the external scan reveals ‘aha’ moments. I have used the system in my consulting practice for years. It works.”
Business Diagnostics is sold online starting at US $60 and purchase includes free shipping until Dec. 23. The team intends to launch an e-version of the book in the spring of 2016.