It’s a common locker room scene: Before the big game, the team scrutinizes video of its upcoming opponent, trying to suss out the other team’s biggest strengths and weaknesses. Companies analyze their competitors, too, but they rarely turn that same analytical eye inward. That’s a mistake.

Why? Because, quite frankly, your company’s weaknesses can do far more damage than your competitors, and your strengths are reminders that you have the capacity to improve in other areas.

Think of it this way: How can you contrast your organization with another if you have no idea what value you bring to the table or where you stand? It’s time for an internal audit.

Evaluating Your Company in 3 Steps

Step 1: Conduct a Thorough Internal Assessment

Conduct...