As with an MRI on a person, The MRI for Business diagnostic© provides an effective way to understand where the whole organization has issues or challenges, and where it is strong.
The methodology allows any business to assess itself as a whole and/or by its departments and branches, gathering insights from one, some or all of the key stakeholders – management, staff, customers, suppliers and any others that are involved with the business such as board members and consultants.
The results are presented in simple to understand rankings on the 5 strategic challenges and 15 essential capabilities that any business needs to master to be as successful as possible. A graph highlights where there are gaps in the alignment between the different groups that are surveyed. The highest and lowest rated questions for each group are identified by the capability and challenge area, providing a direct link to potential actions that may be considered.
The loyalty rating for each customer is broken down by the capability rating from highest to lowest, showing areas where improvement is required. In addition, all customers are ranked according to their loyalty ranking, clearly identifying the overall customer loyalty and vulnerability.
Fully customizable open-ended questions provide additional feedback to support the quantitative data, and offer respondents the opportunity to offer suggestions for improvement.
In addition to showing the strengths and weaknesses of a business, quantifiable values can be attributed to these assets of the business:
- Brand Value
- Degree of stakeholder engagement
- Alignment between internal and external stakeholders
- Management effectiveness
- Innovation orientation
- Agility/adaptability to change
- Customer loyalty/retention
While other survey gathering systems and tools encounter resistance from people unwilling to respond to questions, The MRI for Business diagnostic has an excellent track record of getting results. With all responses being given in total anonymity and confidentiality, the participants feel and appreciate the freedom to be honest. Employees, managers, customers and partners are free to respond to questions knowing that their answers cannot be traced back to them.
In studying hundreds of companies, we have identified the essential strategic elements common to all businesses, and those are the areas where we focus. For example, whether the company makes baby food or secures international real estate transactions, a sound operational capability, strategy, satisfied customers, innovative products and a good working culture still matter.
No other methodology can deliver the insights that The MRI for Business diagnostic does with as much depth and scope, nor as efficiently, quickly, cost-effectively and is benchmarkable.