Business Planning is a cycle that starts with an understanding of how your business fits with its market and environment right through to reviewing the evaluation of performance against the goals.
1.Identifying the Issues and Opportunities
The organisations internal context also needs to consider for example company values. The next step is to identify risks and opportunities or decide whether the element of the environment needs no further consideration at this point.
2. Identifying the Plan, Goal and Objectives
Now you need to identify a plan, objective and goal to either minimise the risk or capitalise on the opportunity for each item identified.
3. Assigning the Actions
The crucial steps to making progress towards your goals are to identify the actions required.Often there are many actions required where one actions needs to be completed before the next can start. Each action includes who, what and an expected completion date. An Example might be to complete a training talk on a particular hazard (eg Falls from height) in your workplace When actionable steps are completed successfully, the action record in FocusIMS serves as a reference point for future success. Completion dates is one such crucial feature, it keeps your team on track with their tasks.
4.Setting targets and key results
When setting your key results ensure you take into account when you expect the actions to be completed. Setting the target key results and insert the actual results as each month is completed. The targets relating to the training talk maybe a reduction in the number of injuries from that hazard (eg less fall related injuries)
5. Monthly Monitoring
Monthly monitoring means you will know whether you’re on track each and every month. You will know whether your actions are achieving the desired results and whether you need to adjust your actions to achieve the result or adjust the goal.
As a leader you have the information to decide whether to bring in more resources to meet a deadline. It leads to better resource management as a team can have both permanent and temporary staff for different business seasons.
Many organisations struggle with the business planning process especially in aligning actions and measurement. FocusIMS provides a simple framework within its system to complete the business planning process and easily monitor and maintain it.
Planning is crucial to optimising the team’s efforts. It is the blueprint everyone refers to when looking at their actions each week and keeps the whole team on track.
The timely attribute of all actions focuses your managers and team on what’s important now. FocusIMS will empower each employee to do their tasks to move the needle in your organization and create momentum towards the agreed on goals.
A system driven approach to business planning yields better results. With FocusIMS, It creates faster achievement of goals and highly motivates and rewards a good team.
Sign up for a demo or our 14 day trial today and experience the power of Integrated business planning and performance evaluation.