Business Planning ~ Establish Goals & Objectives with Employees

The first impact on your business plan is that you are being attentive!

Employees may have done the exercise and put their respective goals and objectives (G&O) in the desk drawer. Once they realize you will be focused on their commitment to the organizational performance, they will be more attentive to their contributions and subsequent results.

When engaging your management team for contributions to this exercise, be sure to give ample time for them to offer thoughtful objectives and attainable goals. It does no one any good for sales and marketing to offer up a 20% increase in sales without the proper resources in finances, staff, and procedures to support the gained market share.

I would encourage you to introduce the exercise as a topic in a scheduled meeting (you ARE meeting with your team, RIGHT?) Assure them that this isn’t a GOTCHA proposition. Proceed to discuss the long term objectives of the organization and what is needed from each department for these objectives to be achieved. Give a short deadline to begin the project (perhaps 10 calendar days) and schedule individual meetings with each person during the subsequent week.

Individually, or departmentally, discuss the overall goals and objectives they’ve identified. Are they attainable and realistic? What is the impact on resources: more staff, promotional cost, equipment, impact on SOP (standard operating procedures)?

After the various groups have had their meetings, review the individual plans against your original organizational goals and objectives.

This is where you will set organizational priorities.

Adjusting Your Business Plan

You rang in the New Year. Au Lang Syne! You shook off your frustrations and losses, and set your sights of a prosperous New Year!

In setting your annual business plan, it is important to establish your short term (six to twelve months) goals and objectives (G&O’s). But you must also monitor and set earmarks against these G&O’s to better plan the longterm. It is the longterm (3-5-10 years) that exercises the macro plan and sets the corporate “big picture” vision.

If this is your first year executing your business plan – Congratulations! Be sure to monitor and analyze the G&O. Use this as a learning experience. You’ll gain insight to the realistic nature of your expectations. Before your re-track your steps, remember that sometimes it’s just a tweak that’s needed. “Don’t throw out the baby with the bath water!” This is a live and learn exercise.

If the plan has been operating for sometime, continue to monitor G&O and press for new methods and better results. Optimize your core assets: staff, equipment, and time. The following are some good concepts to consider when gauging the analysis of your 2012 Plan:

  • Have revenues measured up to expectations?

  • Is Operations and Technology, Sales and Marketing, and Administration holding true to their G&O’s? (Be sure you are receiving goals and objectives from every manager of staff and systems, and that they are in line with the organization!)

  • With the information you have through this analysis, what steps can be done to enhance performance over the balance of the year?

The first impact on your business plan is that you are being attentive! Employees (if you are blessed with them) may have done the exercise and put their respective G&O in the desk draw. Once they realize you are paying attention, they will be more attentive to their results and contributions.

Hello world!

Hello World!

I hope you are navigating the New Economy. My blogs will be geared to discuss some new topics for your consideration, and some tried-and-true business concepts to remind you to pay attention to the daily details.

Hopefully, in the end, we are all better off ~ whatever that means to YOU!

Best wishes for prosperous travels!

 

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