Business
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Studies show organizations which have set goals significantly out earn non-goal setting organizations. In fact in one study published in the Harvard Business Review, indicated that companies with a well defined and well articulated strategy outperformed other companies by over 900% vs. 60% during a 10 year period. So how is it that goal setting creates such a dramatic improvement. Numerous studies have proven that an individual with a defined purpose and absolute clarity will move mountains to achieve their goal.
This may be true, but we also know that a group of individuals left to their own won’t achieve high levels of performance. Let’s explore how to leverage the ability of a single person throughout an organization and create a high powered performing team.
Strategy Planning
The art of creating a strategic plan need not be difficult or daunting. The strategy needs to take into account a time horizon of 3 to 5 years. There should be stretch goals. Often times it is valuable to have someone look at it who is not bound by the traditions of the company.
Setting Goals
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Benefit of Strategy Planning (Process) |
Benefit of Using KeyneLink (Software) |
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Sets Direction |
Improves Communication of direction throughout org |
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Business Innovation Increased |
Greater discussion across org |
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Improved Decision Making |
Quicker/more complete info available for decision making |
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Cross Functional Teamwork |
Teams formed/clearly seen as important for strategy attainment |
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Aligns individuals |
All effort is visibly aligned with corporate/department goals |
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Defines Purpose/Creates confidence in future |
Progress can be seen realtime. Delays can be seen realtime. |
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Increased productivity |
Puts increased productivity on steroids. |
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Increased revenue, profitability |
Provides faster path to increased revenue, profitability |
Execution Management
Execution Management is used to ensure all the strategy setting, goals definition, target setting, and assigning individuals to accomplish the work will yield the results that have been so painstakingly planned out.
Execution management is epitomized in many companies through the use of a Project Management Office (PMO). Only trouble is the PMO is organized and chartered to manage projects. The PMO is not chartered to manage all the tasks that must be performed throughout the organization. These activities are managed less rigorously and less frequently. It is this “less frequently” that seals the fate of many strategies. Change that and you change the results.
Using the KeyneLink Execution Management solution enables companies who are focused on improvement to realize the results they planned. And these results more often are done on time and meet their target.