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

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Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 126That is to say, for each objective, what's the first thing you need to do to begin accomplishing the statedobjective? When a particular action item is completed, the appropriate question to ask next is, "What isthe next necessary action to take toward achieving a particular annual objective?" In other words, youraction plan is never completed for a given planning year until each objective is attained. The action plandefines the steps along the way toward achieving your objectives.Table 8.10 provides examples of annual objectives (with each champion noted) and the correspondingaction items. As shown, each action item contains the three critical items of what's going to beaccomplished, who's responsible for accomplishing it, and the date the action will be completed.For example, the first action item to support the $2-million revenue objective is to develop a list ofFortune 500 companies with headquarters in the Boston area. When this list is compiled, the next actionitem might be to set up meetings with the Boston-area companies to present your credentials. Lateraction items might be to meet with additional personnel from those companies or perhaps to submit aproposal to deliver a product or a service. As dis-TABLE 8.10 EXAMPLES OF ANNUAL OBJECTIVES ANDRELATED ACTION ITEMSObjectives1. Total revenues, $19 million(C. Boss).By client area:Fortune 500 companies, $2million (T. Smith).Federal, state, and localgovernment, $17 million(T. Jones).Action Items1. T. Smith: Develop a list ofFortune 500 companies withheadquarters in the Boston areaby 4/5/00.2. D. Barnes: Follow up withPrudential and Travelersinsurance re recent capabilitiesbriefings by 4/12/00.3. T. Jones: Submit Air Forceproposal on 4/28/00.4. T. Jones: Contact M. McHearn(HUD) re briefing date by 5/1/00.(table continued on next page)file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (142 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 127TABLE 8.10 (Continued)ObjectivesAction Items5. F. Thompson: Set up meet withN. Niles (USDA) re sales call by4/19/00.2. Achieve an EBIT of 8% ofrevenues (C. Boss).3. 85% customer satisfaction,as evidenced by surveys (T.Jones/T. Smith).4. R&D program plan in placefor 2001 (H. Fields).5. Two niche productsgenerating 10% of thebusiness (S. Sales).6. Participate in two tradeshows (K. Burns).7. All senior managers attendone professional trainingprogram (H. Caring).8. Sign lease for expandedoffice space (C. Boss).9. Hire a director of marketingand sales (C. Boss).10. Companywideperformance-basedcompensation program is inplace and fully operational (R.Taylor).6. J. Cash: Close March books by4/15/00 and determine year-todateprofit.7. L. Lewis: Develop customersatisfaction survey instrument by4/21/00.8. H. Fields: Survey engineeringdepartment re potential R&Dprograms by 5/15/00.9. S. Sales: Develop marketingplan for new network anddatabase products by 5/1/00.10. K. Burns: Review fall seasontrade shows and make arecommendation to the CEO by4/15/00.11. A.Crane: Identify three seniormanager training-programcandidates and brief senior staffteam by 5/1/00.12. P. Stephans: Set up meetingwith Jones Real Estate by 5/12/00.13. C. Craft: Place newspaper adfor marketing and sales directorby 4/15/00.14. R. Taylor: Set up meetingwith K. Kames (compensationplanner) by 5/12/00.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (143 of 219)16.02.2005 13:54:23
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