Well, today was our Board of Director's meeting. Of course we were all on our best behavior, trying to look employable while the Board reviews our strategic plan.
Developing a strategic plan is an important process. It is the process of developing an organization's strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its people and capital.
The key points of a strategic plan are:
- What do we do?
- Who do we do it for?
- What is our competitive advantage?
From these questions, Key Performance Indicators (KPIs) are developed. Many organizations are adept at this part of the process, but fail miserably at cascading these KPIs throughout the organization.
Tomorrow I'll talk about how to initiate this process and how Achievant's Performance Management software solution that can assist with this.
