BAQ Owner Business Assessment Questionnaire – Owner Company name Email address Do you have any business partners that are not your spouse? YesNo Do you have a Buy-Sell Agreement? YesNo Is the Buy-Sell Agreement funded with life and disability insurance? YesNo Does the organization have a written mission statement? YesNo Are all higher-level staff aware of the mission? YesNo Do they understand it? YesNo Do top executives take formal responsibility for the organization’s strategic business planning? YesNo Does the organization follow a defined set of procedures in its strategic planning process? YesNo Is strategic planning a top priority activity, performed on a regular basis, e.g., each year? YesNo Do the goals list quantified, measurable targets (e.g., volume, market share, growth rate, profitability)? YesNo Do all affected managers participate in the strategic planning process? YesNo Does the organization have written longer-term (3-5 years) and short- term (1-year) goals? YesNo Do the goals appear realistic yet challenging, based upon experience and/or research? YesNo When appropriate, do the goals list quality, time frame, and cost targets? YesNo Are they observable or measurable? YesNo Does the organization provide resources (time, money, support,) specifically for strategic planning? YesNo If appropriate, do the goals specify targets by location or geographic area? YesNo Does the company’s information system provide relatively easy access to the internal data? YesNo Does the organization perform a SWOT (strengths/weaknesses & opportunities/threats) analysis? YesNo Does the SWOT lead to key strategic changes? YesNo Do you have a personal board of advisors and a legal advisor whom you consult? YesNo Do you have a disaster plan for situations involving bad weather, fire or other disasters? YesNo Do you have a contingency plan if the owner(s) or manager(s) are incapacitated? YesNo Are you able to overcome family issues that could affect the business (or vice versa)? YesNo Do you have a written plan for leader development and key manager succession? YesNo If the business is in decline, will you be able to save it and make it successful? YesNo Do you have a succession plan that is reviewed regularly? YesNo Could the business be structured so that it would be majority owned by: a disabled veterana veterana womana racial or ethnic minoritysomeone who is disadvantaged or handicapped? Do you have a will? YesNo Do you have a durable power of attorney for health issues? YesNo Do you have a trust? YesNo If so, what type of trust is it? living/revocableirrevocablecharitableother If so, who is the trustee? Do you have life insurance? YesNo If so, what type? termwhole lifewhole lifeother Note that #1 means you strongly agree, #2 means you somewhat agree, #3 means you neither agree nor disagree, #4 means you somewhat disagree and #5 means you strongly disagree. The company is moving in a well-defined direction 12345 Owners have a clearly defined exit strategy 12345 The business runs equally well if I'm at work or on vacation 12345 We have a detailed written strategic plan for the business 12345 We review the strategic plan periodically, and revise it as needed 12345 The business succession plan has been updated within the last 12 months 12345 The succession plan has identified potential replacements for each key position 12345 The succession plan includes grooming for each potential replacement 12345 We have a written continuity plan in case of unexpected departures 12345 We have a written contingency plan covering an owner’s departure 12345 Each owner has a written exit plan 12345 We have arrangements in place to avoid probate entanglement 12345 We have good business models and other decision support tools 12345 We use these tools regularly and on an on-going basis 12345 We meet regularly to set & review priorities 12345 Most decisions are collaborative 12345 Our leaders work “on” vs. “in” the business 12345 We are having trouble keeping up with our growth 12345 We bog down when dealing with new issues or opportunities 12345 Our leadership is united 12345 We compare the goals in the business plan with the business accomplishments at least once a year 12345 I have prepared a succession plan and have reviewed it during the past year 12345 I am satisfied with the overall performance of the business, and feel in control of our future 12345 I have a good work/life balance 12345 I communicate well with my staff 12345 Δ
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