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Putting Standard Polices and Procedures In Place Steps to Success

Reasons Why Not To Start A Business?. Everyone is doing itYou want to be a millionaireYou don't want to work for someone elseYou lost your job and are now looking for a secure occupationYou just came into some moneyYou've got a great ideaTo keep busy. Reasons to Start a Business. Its what you

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Putting Standard Polices and Procedures In Place Steps to Success

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    1. Putting Standard Polices and Procedures In Place Steps to Success Mrs Bukky George MD – Health Plus Limited Neca’s Network of Entrepreneurial Women (NNEW) General Meeting Wednesday June 26, 2008

    2. Reasons Why Not To Start A Business? Everyone is doing it You want to be a millionaire You don’t want to work for someone else You lost your job and are now looking for a secure occupation You just came into some money You’ve got a great idea To keep busy

    3. Reasons to Start a Business Its what you most want to do You spotted/observed a need or a gap or an opportunity You have the passion, experience, knowledge and persistence to make it happen To make a difference Raise the standards Build the business from Start to Good to Great Work the business so it outlives you

    4. Some Essentials Mission Purpose (Why are you in business) Reason for existence It guides, inspires, motivates, alligns and energises More than money Vision A picture of the future Crafted by the entrepreneur/leader Shared to all

    5. Some Essentials (contd) Core Values Beliefs we hold to be true, important and enduring Strategy The “how” of achieving the vision Blue Ocean Strategy, a systematic approach of making competition irrelevant and obsolete

    6. Some Essentials (contd) Business Plan A tool that helps to show how to execute your concept/idea It outlines the plans, strategies and goals for the business Preparing and adhering to a business plan enhances chances of success Forces you to think logically and carefully about your business model Reduces risk of failure Includes business concept, management team, market analysis, process analysis, organisational plan & structure, marketing plan, financial plan, growth plan etc

    7. Some Essentials (contd) Execution Systematic process of rigorously discussing the hows and the whats Questioning and tenaciously following though Ensuring accountability Execution links three core processes to ensure that things get done on time Strategy People Operations

    8. Some Essentials (contd) The right people Standard Operating Procedures Mentors Business skills/education Networking Work-life balance

    9. Health Plus Mission To help people achieve optimum health and vitality through the provision of Medicines, Nutritional Supplements, Natural Remedies, Home Medical Equipment and Pharmacy Services by well informed Healthcare Professionals Vision To be the Pharmacy of Choice in Nigeria

    10. Health Plus Core Values (The Health Plus Way) Excellence Customer Satisfaction Continous Learning Integrity Teamwork Innovation

    11. Health Plus Strategy Hinged on our Core Values and our Competitive Advantages

    12. Creating Policies and Procedures/ Standard Operating Procedures (SOPs) SOPs encapsulate the way the job is done day to day (Internal Systems) Contains the little things that help a business run smoothly Formulated/Created by the leader(s) with input from key personnel Documented (Typed) Duplicated and Bound (Ring Binder) Distribution

    13. Creating Policies and Procedures/ Standard Operating Procedures (SOPs) (contd) Training (Employees, old and new, must know and understand) Implementation (Execution) Monitoring Reward performance Update/review/refine

    14. Creating Policies and Procedures/ Standard Operating Procedures (SOPs) (contd) A procedure binder (eg 3-ring binder) divided into sections/categories is suggested Categories include: Personnel Training & Development Marketing/Promotions Finance Security Maintenance & Property Health & Safety Merchandising Functions Operations

    15. Creating Policies and Procedures/ Standard Operating Procedures (SOPs) (contd) Sub Categories Who should do it What has to be done When it should be done Where it should be done Why it has to be done How it should be done

    16. Example: Establishing Procedures For Operational Functions Opening the store Attending to customers Processing of sales Accounting for cash Processing credit purchase Accepting cheques Processing returns

    17. Establishing Procedures For Operational Functions (cont) Analysing sales Analysing inventory Managing the flow of supplies Presenting the merchandise Store rules and regulations Closing the store

    18. Example: Opening the Store Who? Whoever is responsible for opening What? Opening involves a series of steps that someone must take in the morning in order to be ready for customers eg. Uniforms, Housekeeping etc

    19. Example: Opening the Store (cont) When? On time or a little early eg 15 minutes before the hour How? Shut off the alarm Lock the door behind you until lights are on and store is clean and ready Make sure the selling floor is restocked Make sure store is clean (sweep, clean glass etc) Put out change Put out shopping bags Make sure POS machines are working Check displays Unlock the door

    20. Another Example: Procedures for Merchandising Functions This would start with plans to buy merchandise and end with when the merchandise is sold Buying the merchandise Receiving the merchandise Pricing & ticketing Putting merchandise on the sales floor Processing orders Processing special orders Restocking merchandise Marking down merchandise

    21. Procedures for Personnel Functions Covers Employment Policies and Employee Benefits Documented into an Employee Handbook

    22. Section A: Terms & Conditions of Employment Application Recruitment Employment letter & Job description Medical examination Probation Performance appraisal Confirmation of appointment

    23. Section A (cont): Terms & Conditions of Employment Termination Hours of work Overtime Payment of salaries Increments Promotion Leave of absence

    24. Section A (cont): Terms & Conditions of Employment Annual leave Public holidays Sick leave Pension scheme Long service award Next of kin

    25. Section B: Rules of Employment Timekeeping Leaving place of work Unauthorised absence Right to search Staff discount Safety

    26. Section B (cont): Rules of Employment Removal of company property Uniforms Drugs & Alcohol Receiving bribes or gifts as inducement Telecoms (telephones, email, mobile phones, internet) Company vehicles

    27. Section C: Grievance procedures Disciplinary procedures

    28. Section D: Allowances & Benefits Medical Acting allowance Bonus scheme End of year ex-gratia payment Salary advance Company loans Death benefits

    29. Successful Companies MacDonald Hamburger university Wal~Mart Tastee Fried Chicken Chicken Republic UAC Franchising Mr Biggs, Nandos, Creamy Inn

    30. Help for You Great Books The “For Dummies” Series Execution, by Bossidy & Charan Good to Great, by Jim Collins Built to Last, by Jim Collins The Wal~Mart Way, by Don Soderquist Defying the Odds, by Leap Africa Blue Ocean Strategy, by Kim & Mauborgne

    31. Help for You (cont) Consultants Enterprise Development Services (EDS) of LBS

    32. Thank You!

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