Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"toward the eventual achievement of the strategies you defined in Chapter 7. You will be tracking yourperformance against your annual objectives throughout the year.At this point you have completed the fourth element of your business plan—your annual objectives.The remaining activity is to develop an action (or implementation) plan that servesPage 124TABLE 8.9 EXAMPLES OF ANNUAL OBJECTIVES THAT STEMFROM ISSUESIssue 1. Our approach to business development is haphazard anduncoordinated; everybody's doing their own thing. There are no standardbusiness-development practices and procedures in place.Objective. A corporatewide business-development process and associatedprocedures are in place and fully operational.Issue 2. We're not rewarding our effective employees sufficiently; we lackmanagement and staff incentives such as a performance-based compensationprogram and/or a stock-ownership/profit-sharing plan.Objective. A companywide performance-based compensation program is inplace and fully operational.Issue 3. We don't sufficiently train our management and staff.Objective. An employee training program is fully defined and in place forimplementation next year.Issue 4. There are communication gaps between major elements of ourcompany; between line organizations, between staff organizations, and betweenline and staff.Objective. A program for regularly scheduled line and staff meetings isdefined and meetings are underway; additional communicationsenhancements are defined for implementation next year.Issue 5. Our managers don't understand their roles, responsibilities, andauthorities to carry out their jobs; there's no clear statement of goals andobjectives; and we lack position/job descriptions.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (139 of 219)16.02.2005 13:54:23