Many problems with procedures that crop up after they’ve been implemented are traceable to inadequate or no policy review process. Let’s say a procedure as written describes an deal process, performed under ideal conditions (i.e., real-world conditions aren’t taken into account). If this isn’t caught in the policy review process, the end product will meet requirements only through luck. Luck being notoriously unreliable, inconsistent, and uncontrollable, you’re clearly better off if you review business policies. Learn how to Review Business Policies.
Tracking operational metrics is an excellent place to start to keep watch on how your business is running! What gets measured, gets managed; but, what should you measure? There are many operational metrics that you should be measuring to enhance operations and keep your business working. Read on to find out what operational metrics are uses to run a business?
Continue reading What Operational Metrics are Used to Run a Business?
Have you heard of management by objectives? It was first popularized by Peter Drucker in the 1950’s. This is basic goal setting, where you pick (or agree on with your employees) your objectives and then drive everyone to the result. Results are important, but so is keeping control of your organization. That’s where management by procedures comes into play. Why are Management Procedures Important? Continue reading Why are Management Procedures Important?
There are five phases of project management. Each phase of project management has a distinct purpose, importance, and set of outputs designed to ensure that the project manager is moving the project towards the desired results. The first phase is Project Initiation. What are the activities of the initiation phase in project management? Continue reading What are the Activities of the Initiation Phase in Project Management?
A business plan will help you see the bigger picture and make vital decisions concerning your business. Where do you start and How do you write a business plan for a startup? Continue reading How do you write a business plan for a startup?
Strategies and tactics can be used to realize your goals and objectives, but how do you achieve strategic alignment between your business, departments, or the whole organization?
Continue reading How Do You Achieve Strategic Alignment?
Many metrics exist to focus an organization on important organizational objectives and drive the company forward. Key organizational metrics are more controversial. Many organizations will focus on revenue, profit, and growth as “Key” measures of success. Yet, all three are lagging indicators for measuring organizational success (what has happened) and will not tell you the whole story about your organizations prospects (what will happen). What Are 10 Leading Indicators for Measuring Organizational Success? Continue reading What Are 10 Leading Indicators for Measuring Organizational Success?
Are financial performance objectives more critical than you think? While almost every business pays attention to financial performance, studies show that small and medium sized businesses in particular frequently do not engage in thorough financial planning, including the development of financial performance objectives. Continue reading How to Develop Financial Performance Objectives
Now is the time for reviewing your vision and mission statements, and as well as reviewing and setting goals and objectives. A clear statement of vision guides members of the organization. This over-arching statement of principle adds clarity and meaning to your goals, objectives, and regular activities. Why setting goals and objectives is important? Continue reading Why Setting Goals and Objectives is Important?