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 13committing to the plan's implementation is presented in Part 4.Plan or DieMany of the fires that senior management continuously fights stem from the issues or roadblocks (asintroduced in item 1 in the preceding section) that abound in most companies. If these issues wereidentified and strategies and tactics were developed to address and eventually eliminate them, seniormanagers would have more time to devote to growing their company and making it more successful. InPlan or Die!, Nolan, Goodstein, and Pfeiffer point out that "strategic planning and strategicmanagement (the day-to-day implementation of the strategic plan) are the two most important, neverendingjobs of management, especially top management." 11Stephen Covey's Time Management MatrixIn The 7 Habits of Highly Effective People, Stephen Covey developed the time management matrixpresented in Figure 1.3. This matrix shows that managers spend their time in four different quadrants—performing activities that are (1) urgent and important, (2) urgent but not important, (3) not urgent butimportant, and (4) not urgent and not important. 12Covey points out that urgent means something requiring immediate attention—such as aring-Figure 1.3Covey's time management matrix.(Source: The 7 Habits of Highly Effective People,by Stephen R. Covey; 1990, Simon & Schuster.)file:///C|/Documents and Settings/gasanova/Local Settin...Forward_MBA_in_Business_Planning_for_Growth/e-book.html (28 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 14ing telephone. On the other hand, something important deals with results, such as your values, yourmission, and your goals—your plan. The urgent and important quadrant (top left) reflects crisismanagement. Covey says that we all have some crises in our lives, but this quadrant consumes manypeople who are problem solvers and deadline driven. Many people prefer spending time in this quadrantbecause they like doing important (also what they think are urgent) things. According to Covey, "That'show people who manage their lives by crisis live."Then there are those who spend large parts of their time in the urgent and not important quadrant(lower left), thinking they're actually in the urgent and important quadrant. They react to urgentsituations thinking that they are important, but Covey says that "the urgency of these matters is oftenbased on the priorities and expectations of others." 13Covey points out that the not urgent and important quadrant (upper right) "is the heart of personalmanagement." He goes on to say that "effective people stay out of the Urgent and Not Importantquadrant (lower left) and the Not Urgent and Not Important quadrant (lower right), urgent or not, theyaren't important." This last point is critical. By putting effort into the planning arena (the not urgent andimportant quadrant) through identifying issues and developing strategies and tactics to eliminate them,you will, as Covey says, be able to "shrink the Urgent and Important quadrant down to size by spendingmore time in the Not Urgent and Important quadrant." Implementing your business plan is where youperform important but not urgent activities.Objectives of This BookBecause business planning is a critical element in ensuring the success of any business, and becausemost business owners and managers don't do it, I have written this book with the following threeobjectives in mind:1. To provide you with an understanding of effective business-planning and plan-implementationtechniquesfile:///C|/Documents and Settings/gasanova/Local Settin...Forward_MBA_in_Business_Planning_for_Growth/e-book.html (29 of 219)16.02.2005 13:54:23
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