Summary:

When preparing for your upcoming strategic planning session, be sure to hire an outside facilitator instead of using an internal person for this role. The reason to hire outside of your organization is so important is because an outsider has no affiliation with the company and will be in a better position to keep the flow of the session on track and on topic.

Some of the core duties of a facilitator includes keeping the process moving forward, limiting individuals that steer off target and they understand the process and help coordinate and focus the groups for maximum benefit. When searching for a professional facilitator, look for these characteristics and skills:

1. facilitator has experience in guiding strategic planning processes

2. has excellent communication skills

3. Has an understanding of organizational issues

4. Has the possibility to explain your results

5. Has a commitment for the group to ensure the desired results are achieved

6. The ability to conduct a systematic and targeted people

7. Has the ability to offer insights

Article Quote:

“An experienced professional facilitator used in strategic planning to significantly increase the probability of a successful process and strategic planning and will also allow participants to team up with positive feelings, greater cohesion, a sense of accomplishment and a stronger one.”

Link: http://professionalengineering.blognows.com/2010/09/04/eight-key-properties-for-a-strategic-planning-facilitator/

Strategic planning can be difficult if you’ve never participated in the process before. Hiring an outside facilitator is a good idea and can make the process much smoother and produce the results you need to get your business on track and working towards common goals.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

This article addresses those who don’t have a monthly contact process with your customer base, and gives four reasons why you should contact your customers every month. Monthly contacts with your customers should be the cornerstone of the way you do business. If your customers don’t regularly hear from you, you are gone from their mind and they will move on to the next product or service.

The first reason you should maintain contact with your customers is that it is cheaper to work with existing customers. This is due to the cost of advertising to get new leads, that you must then contact 3-4 times before they agree to purchase.  Your existing customers’ information is already in your database so all you have to do is keep contact with them.

Next, your existing customers are easier to sell to because they already know you and trust you. Statistics show that a person who has bought from you once is thirty percent more likely to buy from you again. Third, customer referrals are essentially free advertising and much more effective because word of mouth referrals from friends and associates carries much more weight than simply advertising alone.

The forth reason to maintain contact with your customers is that your competition is busy trying to take them away from you. Every day, the average person receives approximately 3,000 messages to buy things. How long do you think it will take before your customer begins to take advantage of offers being made by your competitors?

Article Quote:

“Starting a monthly contact process with your customers is not just another business strategy. It’s a different way of operating your business. It will save you dollars; it will increase your profits; it will make your work easier.”

Link: http://strategicplanningstrategy.com/114844-Out-of-Sight-Out-of-Mind-Out-of-Business.html

To stay in business, you must treat your customers right and maintain a relationship with them. While getting new customers is always the goal, don’t let your existing customers fall to the wayside in the process. Your existing customers are the one’s providing referrals (free advertising) and spreading the word about your service and products and they are much easier to sell to as they are familiar with your business and it’s offerings. Make it a part of your business strategy to keep the relationship with your customers a top priority and you will realize better results.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

Business leaders continually strive for efficiency  in all aspects and processes of the organization. A business’ measure of efficiency is only as good as the combined efficiency of all of its assets, which typically is measured in terms of performance against purpose. Reigning in energy costs due to equipment use is determined by how each piece of equipment operates. Traditionally, companies have relied on basic forms, such as spreadsheets to record asset existence, maintenance issues, and performance. While spreadsheets are widely used and accepted, they are not the best tool to use in asset management.

A better tool is asset management software, with it’s ability to look at each piece of equipment and set benchmarks to give us warnings, alerts or alarms. It consolidates your asset information and sends automatic messages to technicians when a problem is detected. Spreadsheets simply aren’t able to provide this level of service which can cause excessive downtime of servers and cause inflated energy costs.

Article Quote:

“Online asset management software is a far more dynamic tool when compared to the traditional Excel spreadsheet-based approach. It enables much better visibility across the enterprise and helps to eliminate confusion.”

Link: http://www.media-cn.com/the-spreadsheet-versus-online-asset-management-software.html

Spreadsheets are widely accepted and are inexpensive to use. The problem with spreadsheets arises when a specific function is needed by the end user. Such is the case with asset management. Asset management software is customized with the end user in mind and therefore is much more useful.

For more on management software, see http://www.managepro.com/management.html

Summary:

Josh Spiro writes that if you want your employees to be committed to your business, you first need to examine what employee engagement is. Peter Stark, author of Engaged! How Leaders Build Organizations Where Employees Love to Come to Work describes employee engagement as a state in which, “employees are connected both at the head and the heart and they are willing to give what I call discretionary effort, meaning willing to do whatever it takes to get the job done.”

So how do you increase employee engagement? Spiro suggests:

• Keeping communications open: explaining how each person’s contributions affect the overall business
• Listen to them, especially if they are complaining to find a solution to the problem
• measuring engagement: paying close attention to the interactions of everyone (the subtle clues such as the level of concern in voices)
• cultivate a sense of pride in your employees and a belief in the importance of your missions
• Make sure the hiring supervisor maintains high level of motivation

Article Quote:

It’s no secret that, as a business owner, your venture is your baby. It’s needy, it’s frightening, and you’re completely devoted to it. If only you could make your employees feel the same way. Well, at least the devotion part.

Link: http://www.inc.com/guides/2010/08/how-to-get-employees-excited-about-your-business-vision.html

Having a strategy in place  for employee engagement is something most managers don’t pay much attention to, yet the more an employee feel committed and part of their organization, the harder they work to make it succeed.

Strategic planning should be about outcomes, and if you’re finding that your company is experiencing a high turnover rate, or that your employees just don’t seem to care about the company, then your strategic execution needs work.

When the organization’s strategy is clearly communicated and each person understands their role and responsibilities to the plan, you will realize a higher rate of employee engagement. Implementing strategic execution software can ensure that each individual gains an understanding of their role in the strategic planning process.

For more on strategic planning and execution, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

On his blog, QuickSprout, Neil Patel wrote about customer happiness and gave twelve tips on how to keep them smiling. Businesses that want to succeed should always strive for quality customer service, yet we constantly run into less than helpful people in our shopping experiences. Patel cites a survey by Harris Interactive, in which 88% of respondents prefer great customer service to a good deal.

Many of the tips given are obvious, but it’s always a good idea to review and remind yourself how much a little effort can go. The tips given are:

1. Smile warmly at customers

2. Smile on the phone – people can tell the difference!

3. Say the customer’s name twice in the conversation to show you’re aware of that person, and tuned into the conversation

4. Touch a customer while smiling

5. Tell the customer that they are “a special customer”

6. Share good feelings by treating your staff and employees well

7. Follow up with customers to let them know you care beyond the initial sale

8. Give the customer what they want if it’s possible

9. Show that you are trying

10. Do the unexpected, surprise them

11. Give a gift

12. Use good manners such as saying please and thank you

Article Quote:

“It always surprises me to hear about how few business-people implement strategies of doing what they can to make their customers feel good. I know that trying to keep customers happy is a generally unspoken rule when you’re in business, because satisfied clients are usually always the goal.”

Link: http://www.quicksprout.com/2010/08/27/little-tricks-to-get-more-customers-smiling/#more-2187

Besides having good manners, as we all should remember to use, the best advice in this article is number seven: follow up. Overlooking this very important aspect of all relationships, including business relationships is a detriment.  The person that takes the time to follow up will be the one that stands out in an organization. It lets people know that you took the time to see an issue through, even if it is simply calling up a customer to see how the product or service is meeting their needs.

Following up can be a challenge when there are so many competing priorities to work through. A tool that can make following up much easier is task management software. Managing tasks, especially if you also manage people is challenging when using outdated tools like pen and paper. Task management software can help you keep track of what’s important.

For more on task management software, see http://www.managepro.com/taskmanagement.html

Summary:

The benefits of strategic planning are many, and is often the difference between businesses that succeed and businesses that fail. Benefits include:

• identification of breakthrough strategies
• a clearly defined road map that is supported by top management
• allocation of resources on identified strategies
• goals formed from relevant data with a common understanding
• goals aligned throughout the organization

The area that many people get hung up on is in understanding the difference between strategy and planning. Strategy is deciding which direction to move the organization that will bring the most benefits, where planning is developing a list of actions that support the strategy. Combine the two and you’ve got strategic planning.

Article Quote:

“If strategic planning is conducted poorly it is nothing more than a game of politics where managers try to look smart or do what they can to ensure their organizations are protected. Sound familiar? This type of an exercise should be called “political positioning” as opposed to “strategic planning.” Instead of bringing people together towards a compelling vision, it creates discord and points the organization in the direction of failure.”

Link: http://www.gallery2023.com/what-are-the-benefits-of-strategic-planning/comment-page-1#comment-213

Strategic planning is not the same as strategic execution, although if done right, strategic planning should align business goals or strategies with human and financial resources. However, to successfully execute a strategy, leadership must continually monitor the progress of the planned activities and be conscience of the value added and the time remaining.

Strategic planning and execution software is a tool that many managers utilize to maximize their strategic planning efforts. Strategic planning software allows managers to gain an overview of top business strategies and how those strategies are being implemented – by answering the what, who, when, and how questions. Managers are able to drill down on any strategy, goal or project all the way to the individual worker’s daily task list. This enables managers to track performance and make adjustments when necessary.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

Creating a business plan before you actually start up a business is a must, even for “solopreneurs” – those that want to earn a little extra cash on the side of their normal jobs. Yet all plans don’t need to be formal 30 page long documents. In fact, many business plans are only a one page outline that covers the basics.

Doug Dolan, a small business consultant suggests looking at these three factors in order to decide which type of business plan is right for you:

1. The complexity of your business
2. The amount and source of your funding
3. The severity of the damages you will incur if your business fails

There are many resources people can turn to for help creating a business plan. Once you develop your plan, make sure you review it and also have another business professional review it, and if the plan is a formal one make sure you get more than one opinion.

For a complete read of this article, click the link below.

Article Quote:

“As for hiring a consultant to create a business plan for you, typically, this will cost you the most. While this will free up your time for other start-up activities, you will miss an excellent opportunity to get to know your business and your market.”

Link: http://www.inc.com/marla-tabaka/business-planning-that-makes-sense-for-you.html

Business planning is essential when starting up any new business. It helps define your purpose, your customers, how you will market your business, how you will finance your business, and more. Once you’ve started up your business, you may find that you need management software to help support your activities. One location for keeping track of important clients, progress updates, goals, and employees.

Management software can help you get out of being overwhelmed by providing one workspace to track and manage everything that crosses your desk; from projects, to email, to the people who help you deliver.

For more on management software, see http://www.managepro.com/management.html

Summary:

The number of people moving from traditional classroom settings to electronic learning is skyrocketing. In fact, a study by Ambient Insight Research estimates that the number of elearners will quadruple in next 4 years and that by 2014 an estimated 81 percent of post-secondary students in the USA will be taking some or all of their courses online.

Learning management software applications deal with documentation, reporting, tracking of training programs and other administrative purposes to assist teachers in handling a multitude of students from far reaching locations. Learning management software is used by colleges, universities, and corporations.

Article Quote:

“LMS is vital and essential for universities and college who offer electronic learning because this application enables entities to align learning initiatives with strategic goals. It makes global certification efforts simpler and most importantly, it can provide a means of enterprise-level skills management.”

Link: http://mbas.co.in/learning-management-software-providing-support-to-elearning/distance-learning/

Technology changes the way we live, as evidenced by the changes in how we learn. Learning Management Software (LMS) provides a solution to the problem of managing information regarding virtual classrooms. With the growing trend of elearners, it’s increasingly difficult to handle each student’s data, which is why software companies continue to develop better learning management software that will support computer based learning.

Management software should support the user and leverage information in a way that adds value. There are many different kinds of management software on the market today, and more are being introduced all the time. The point to remember is to identify what your needs are before you go shopping for a solution.

For more on management software, see www.managepro.com/management.html

I read an interesting blog by Bill Barberg recently that talked about using a strategic management system not for integration of IT as that can take the focus off of strategic issues, but instead using a strategic management system to engage various stakeholders to collaborate and communicate on the essential details for strategy execution.

Using the analogy of using a GPS system and how it works independent of the automobile’s dashboard, which must be integrated into the inner workings of the vehicle, Barberg describes strategic management tools as being most effective when they get their data from the minds of company leaders, managers, and staff, rather than from operational databases. I cringe slightly at this, not because I disagree that input from all levels can be helpful, as getting everyone to begin thinking strategically will ultimately boost performance, but because it sounds like information needs to be input more than once in order for benefits to be realized.

A truly beneficial strategic management system takes existing information in a central application and leverages that information across the entire team or organization. I wouldn’t want to look more than one place for the information I need, and if you looked at the cost for the time spent searching for information, or the cost of making decisions without having current information, you might think twice about setting up two independent systems, especially when there are existing applications that can align operational data with strategic goals.

Barberg goes on to write that “. . . a core capability of a strategic management system is the ability to zoom-in or zoom-out to different levels of detail.” Absolutely true! The ability to zoom in or out, or to drill-down to different levels of detail on projects, goals or even the individual worker’s daily to-do list is crucial for all levels of the organization to gain insight into what the goals are, what needs to be done, what has been done, and how well it’s working.

Strategic management tools need to map out the business strategy and align the strategy with daily activities, otherwise you’ll find that you’re working harder for less results.  For more on strategic management, see http://www.performancesolutionstech.com/category/strategic-manager/

Summary:

Legislation changes and changes in communication preferences from land based telephones to mobile phones have caused debt collectors to change the way they collect debts. As litigation against debtors increases, debt collection agencies need appropriate software tools to identify accounts where a lawsuit is the best option to settle the debt.

This article seeks to identify debt management software features that’s  flexible enough to handle changing legislation and business practices, robust enough to handle shifting consumer behavior regarding communication, and intuitive enough to assist in key account decisions. For the complete article, click the link below. Key features of online debt management software include:

• Online-debt-management should provide an interface that makes accounts receivable management easy so that employees master its nuances easily and intuitively, even with multiple users logged into the system at the same time.
• Online-debt-management-software should be secure and integrated with other IT business tools such as word processing, spreadsheets, images, accounting, electronic signatures and email.
• Online-debt-management-software should include the ability for data distribution and movement.
• Online-debt-management-software should include reporting features for improved decision making regarding historical data.
• The online-debt-management-software should include the ability to schedule reports, events and programs.
• The online-debt-management-software should include both an integrated predictive dialer and an integrated IVR system, and be able to document and record calls. This allows for documentation of contact with debtors.
• Finally, the online-debt-management system software should make collections easy by integrating negotiation and settlement tracking and including an online web payment module that accepts credit cards, checks or a promise to pay.

Article Quote:

“The decision to replace existing debt management software is an expensive proposition that should be thoroughly researched. The points in this article should help focus that research so that debt collection agencies do not make a costly business mistake.”

Link: http://www.techwithus.com/2010/08/six-key-features-of-online-debt-management-software/

Okay, so it’s actually seven key features, but who’s counting? The need for businesses to collect on past due accounts has increased with the economic crisis as more and more people are unable to pay their debts. Implementing software that assists in deciding which debtors to pursue in court can save a business a lot of time and resources.

Software technologies are increasingly customizing their products to be useful for their clients. In the past, debt collectors had only excel spreadsheets and other outdated tools to rely on to collect their debts. Having the right management software in place is crucial to gain a competitive advantage within your industry, as it reduces costs and increases productivity. While some applications are versatile enough to be adapted to many industries, the trend is moving toward specialized software for a specific niche.

If you are interested in a management software that keeps track of goals, projects, or tasks; one that aligns business objectives with available resources, then visit www.managepro.com/management.html

Summary:

Strategic management is the process of developing and executing company strategies, and plays an vitally important role in business administration. This article by Eric Douglas highlights three concepts of strategic management that businesses should focus on. First, the business should have a clear understanding of available resources, both financial and human. Without the right amount of resources, a goal or objective will not be successfully realized.

Next, businesses should continually evaluate performance to identify areas that need adjustment or areas that are excelling. By conducting ongoing evaluations, business leaders can make sure that the planned activities are producing the desired outcomes.

Last, strategic management requires identifying potential opportunities and threats that may be encountered while working the strategic plan. In some cases, the possibility for opportunity may outweigh the risks involved, but the opposite may be also true.

Article Quote:

“Strategic management and planning can play a vital role in a large company. It is necessary that a company be conscious of their current spot as well as their planning for the future.”

Link: http://business.ezinemark.com/three-vital-concepts-of-strategic-management-51432861ee3.html

While I agree that all three concepts mentioned above are important for strategic management, they are out of order and missing some important information. First, the research in identifying opportunities and threats should be done in the planning stage and revisited when new information becomes available. It isn’t wise to fund an initiative when an analysis of opportunities and threats has not been completed. The same is true for an analysis of available resources. This belongs in the strategic planning stage and as measurement of progress is conducted, resource allocation revised accordingly.

Strategic management should be continually evaluated for performance and effectiveness. Strategic management software can assist leadership in this activity by keeping strategic goals in a visible format that ties activities, personnel, and resources together for easier measurement. Having the information at your fingertips saves incredible amounts of time and makes adjusting the plan easier because all relevant data is right there . . . when you need it.

For more on strategic management, see http://www.performancesolutionstech.com/category/strategic-manager/

Summary:

Using excel spreadsheets for strategic planning is a lot like using a sledgehammer for fixing a leaky faucet, as the blog at mystrategicplan.com points out. Excel sheets are great for many things, but what it can’t do for the strategic planning process is:

• Excel won’t teach you the strategic planning process
• Excel won’t show you how your strategy filters down throughout your company
• Excel doesn’t create outlines
• Excel can not manage your progress
• Excel will not remind you where you’re at
• Excel will not allow you to set user permissions
• Excel isn’t available via the web for you to access night and day from anywhere (at least not the version your company uses)

To read the entire article, click  the link below.

Article Quote:

“I’ve always held the view that the spreadsheet was never designed for the sophisticated uses to which companies continue to put it. At best it is a development environment that is rarely documented because users are not trained as developers. The net result is that when things go wrong, errors are notoriously difficult to find.”

Link: http://mystrategicplan.com/resources/section/blog/

Excel is widely used because of it’s broad acceptance and relative low cost. However, as the author above points out, using an excel sheet for strategic planning and execution is not the best tool to choose. Strategic planning and execution software is available and comes with many features that assist the strategic manager. For example, strategic managers need to have all the goals, projects, and tasks laid out in a visible format and each need to be aligned with activities and resources within the organization.

Creating an alignment  between goals and daily activities streamlines the business process and assures that the strategy is being worked, not set aside for the next strategic planning session. Furthermore, strategic management software provides leaders with the coordination capabilities that allow them to drill down all the way to the individual worker’s daily prioritization of tasks and time – something that excel spreadsheets aren’t capable of doing.

For more on strategic management software and tips on how to up your game as a strategic manager, see http://www.performancesolutionstech.com/category/strategic-manager/

Summary:

Who makes for a better boss, a woman or a man? Professor Khalid Aziz, CEO of leadership development consultants at the Aziz Corporation believes women make better bosses than men. He argues that women have less short-termist outlooks, are more holistic in their approaches, and are more reasonable.  Professor Aziz sites his top ten reasons he believes women are better suited for leadership roles in business than men:

1. In a still-sexist world, women have to be better than men to succeed
2. Less “bullet-headed” than men and prefer to understand the big picture before proceeding
3. More adaptable to the needs to change
4. More willing to see other people’s points of view
5. Less bloody-minded in conflict
6. More holistic people-managers understanding the different influences on staff
7. More willing to admit mistakes
8. Better collaborators
9. More open to seeing their own failings
10. Better team players

Article Quote:

“Female managers also have a more level-headed view of business important in keeping their companies out of trouble than their male counterparts, the consultancy claims.”

Link: http://www.management-issues.com/2010/8/24/blog/why-women-make-better-bosses.asp

Whether you agree with Professor Aziz or not, he does make a compelling argument. However, becoming a successful leader requires a skill set, regardless of gender, and while one gender might be predisposed to a particular characteristic, making generalities about which gender is better suited is glossing over what it really takes to be an effective leader.

Effective leaders have the vision to move an organization or a cause forward, the passion and drive to get there, along with the creativity, knowledge, and communication skills to motivate others to join them. Possessing these skills is a must to becoming an effective leader. One of the most important things an effective leader can do is to document their efforts. By documenting, the data needed for measuring progress and evaluating what works versus what doesn’t work becomes easily identifiable.

Management software is one tool that leaders can utilize to gain an overall view of the performance of goals, tasks, and personnel that is based on relevant data instead of memory or opinions.  Management software helps managers stay on top of what’s important and what needs attention, including all the plans and projects, the updates and commitments, . . . all the information that’s key to being efficient and effective.

For more on management software, see http://www.managepro.com/management.html

Summary:

With little room in the budget, businesses must be selective with which new products to choose. The need for improved efficiency is causing many businesses to turn their precious dollars to network management investments. Virtualization creates new sources and destinations for traffic and in order for IT departments to keep up with the increased demand on systems administrators responsible for the infrastructure, they need management software to make sure the processes are executed consistently and automatically.

For companies looking to gain management efficiencies, Ann Bednarz offers five ideas to best allocate time and resources.

1. Consolidate management tools across the enterprise

2. Invest in network configuration and change management (NCCM) tools

3. Increase application awareness

4. Pay for analysis, not monitoring

5. Exploit untapped capabilities in existing toolsets

Spending time and resources on these five suggestions for network management will save time and resources in the long run. Click the link below for the entire article, with explanations of each investment.

Article Quote:

“The march toward greater automation in IT environments has been underway for some time, but virtualization is quickening the pace. Adoption of virtualization technologies is creating unprecedented complexity not only for systems administrators responsible for the infrastructure, but also for network professionals.”

Link: http://www.computerworld.com/s/article/9181460/Top_5_network_management_investments

Investing in management software at a time when many businesses are cash strapped may seem to be frivolous. However, management software that increases efficiency and productivity will benefit the business in the long run. Also, as the article above suggests, getting the most out of your current management software can stretch your budget and improve business process.

For more on management software, see www.managepro.com/management.html

Summary:

The New Albany-Plain Local School District’s has created a draft of their strategic plan that a 35-member strategic-planning committee has been workingon since December 2009. All told, more than 130 people participated in the strategic planning process, which included the planning committee and 10 action teams that developed strategies for reaching the planning group’s objectives.

Highlighted in this article are the top ten initiatives developed for the plan, that many believe are too ambitious to successfully implement. Three are listed below. For the entire article, click the link below.

• to reinvent curriculum, instruction and assessment through internal and external collaborationto meet the unique needs and interests of every student.
• to attract, develop and retain teachers and staff members who advance the vision, mission andpromise of the district.
• to adopt a philosophy and implement a system to empower all students to take charge of their learning, growth and development.

Article Quote:

“He said though many have questioned whether those objectives are obtainable, the committee members said they were not negotiable. If the board approves them, teachers and administrators will begin to implement the ideas.”

Link: http://homeschoolninja.com/strategic-plan-makes-its-way-to-the-board/

Strategic planning is considered successful if it is executed well, and the intended outcomes are obtained. Strategic management is the act of organizing yours and other’s work around desired outcomes and the plan or steps to get there. Strategic planning and execution software is a tool that can assist leaders in executing their strategic plans because it allows them to obtain visibility on all the goals and initiatives and use scorecard metrics to identify areas needing adjustments.

Strategic management software has the coordination capabilities that ensure you can drill down all the way to the individual worker’s daily prioritization of tasks and time, complete with strategy maps, prioritized personal to-do lists, and tools to flexibly manage projects while tracking results and outcomes with your team.

For more on strategic management technology, see http://www.performancesolutionstech.com/category/strategic-manager/

Summary:

Managers in all industries can destroy millions of dollars in value at their companies within a short amount of time. . However, this author sites the following reasons for inadequate leadership:

• Business Education- inexperienced professors focused on academic pursuits; failure to teach ethics/social responsibility; lack of practical experience opportunities for students
• Progressive Education and Pragmatism - focuses on the case method of teaching which some argue is a method that doesn’t allow students to think for themselves
• Governance – Warren Buffett believes that boards should have Minimal Board Compensation, No Stock Options, No Indemnity, No Retirement, and Transparency

To improve the structure that encourages leaders to be less than honest, this author suggests implementing the Lean Six Sigma approach. This approach understands that our strategies and plans are a model of reality and that our actions have an impact on this reality. In other words, our plans are a transfer function that connects the root causes we address with the outcomes we desire.

Article Quote:

“We believe that facts and data can help us make better decisions, and we have tools which help us glean information and knowledge from the data.”

Link: http://investing.blogandinfo.com/2010/08/22/why-management-is-broken-and-how-to-fix-it/

Focusing on outcomes is what successful strategic managers focus on when managing time and resources. It is the outcome that ultimately matters in the business world. Implementing performance technology can assist managers in managing strategically when it offers move beyond the demands of the next deadline, using the benefits of immediate visibility, accountability and alignment that translate into the answers and results you need.

For more on strategic management, see http://www.performancesolutionstech.com/category/strategic-manager/

A significant portion of our lives revolve around work, which means that most of us are faced with some type of performance review every year. Samuel Culbert wrote a Wall Street Journal article that asserts everyone hates performance reviews and that they are “a pretentious, bogus practice that produces absolutely nothing that any thinking executive should call a corporate plus.” Ouch. But seriously, if you’ve ever participated in a performance review, you’ll likely have a strong opinion on their value to both the individual and the organization. All too often, the perception of performance reviews is that they are more of a popularity contest than an assessment of actual performance.

How is it that a practice designed to add value and increase effectiveness could be viewed so harshly? And if they aren’t providing the value they were designed to provide, why do so many organizations continue to use them?

According to a 2007 study conducted by WorldatWork and Sibson Consulting, at least half of respondents use the review to determine pay increases, promotions, and annual incentive programs. The problem with this is that pay increases are primarily based on budget allowances and market conditions, not performance reviews.
Furthermore, the mindset of each participant in the review is not the same. The boss is interested in getting more out of the employee, while the employee has the mindset of negotiating a raise. Two different mindsets create a tug of war that completely misses the point and serves to create tension and uneasy relationships.
The question then is this, “What if performance reviews only fit 10% of the environments they are introduced into? What if they are actually the wrong fit 90% of the time?”

Prerequisites for effective performance reviews:

1. The employee trusts the person giving the review and sees them as both accurate and fair. (note: only 30% of employees trust their organizations performance management system)
2. The employee has the emotional resilience to listen to, absorb and profit from feedback.
3. Adequate data has been tracked throughout the review period to ensure the review will be fact based.
4. The result of the performance review actually adds significant value to the work process and outcomes in less than one month.
5. Both participants are committed to the value of improving performance as the primary reason for a review, instead of using them just because they’re widely accepted, or for negotiating a raise, or avoiding a layoff.

When you read the list, doesn’t it make you think that maybe performance reviews aren’t for everyone?

It’s true that research suggests that not everyone benefits from setting goals, mostly just the people interested in performance improvement.  So wouldn’t the same be true for reviews? If performance reviews are really best suited for a minority of employees and companies, several questions come to mind:

1. Are you, is the organization you work in, in that minority?
Why?  Why not? Are any of the prerequisites mentioned above missing from your review?

2. Instead of conducting performance reviews in their current state, what would the majority of employees find to be less disruptive and more helpful?
-  A simple list of what works and what doesn’t?

-  30 minutes of recognition for work completed that created value?

Bottom Line:
Performance reviews are both widely used and widely disliked.  This article covers 5 pre-requisites for conducting performance reviews for the best possible results, and proposes the consideration that performance reviews are not well suited to most employees or organizations, hence all the negative associations and the need for better alternatives.

Summary:

Conducting a strategic management audit requires research, analysis, decision making, and implementation. It is important for businesses to conduct strategic management audits to fully understand the environments in which they operate. Changing trends, demographics, and customer likes and dislikes can change rapidly and if you aren’t closely watching external conditions, you can easily be left behind and become obsolete.

When conducting an external strategic management audit, begin by collecting information about trends in environmental, political, social, cultural, legal and technological areas. Make sure to take a look at demographic data and any trends emerging within each group. Information gathering also consists of competitive analysis. Evaluate who your direct and indirect competitors are and look at distribution channels, marketing channels, and  market share. This phase also consists of surveying your target market to identify if needs have changed.

The next phase, analysis, consists of analyzing all the data collected in the information gathering phase. Look at how the external environment is likely to affect your target market.  Analyze your survey results and compare them to what your competitors are offering, paying close attention to unmet needs as this is where opportunities lie. After analysis of the data, it may be proper to redefine your target market.

Finally, pursue identified opportunities while avoiding identified threats. Develop action plans with timelines and assign tasks to specific departments or individuals. Make sure any opportunity you pursue is measurable so you can evaluate whether or not it’s working. Continually monitor the market for emerging trends or crisis and remain flexible so adjusting to new opportunities or threats is done with ease. For the entire article, click the link below.

Article Quote:

“External strategic management audits provide management with both insight and preparation for the changing marketplace.”

Link: http://www.ehow.com/how_6866368_conduct-external-strategic-management-audit.html

Conducting an external strategic management audit should be the first step in the strategic planning process. Often you’ll hear that the first step is to define your vision or mission statements. However, your vision and mission statement really are of secondary importance to what is going on in the market place, and you may find that the need to re-define these statements after an external audit of market conditions.

Once a plan is developed, executing the plan is the next hurdle. Strategic planning and execution software can assist management by providing a highly visible format of all goals or initiatives, along with the capabilities to see who is assigned to what task, the status of the task, and expected completion dates. Managing your goals and strategic plans in this way offers management the ability to drill down on a specific goal, initiative, or individual’s performance with metrics and scorecards. This ability gives leadership insight into what is working and what needs to be evaluated.

For more on strategic planning and execution, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

The vast majority of small business owners do strategic planning for two main reasons. First, the owner typically is so immersed in the day-to-day operations of the business that they simply don’t have the time to plan. Second, they often lack the skills to develop a solid strategic plan. Even large corporations have trouble developing a strategy they are both satisfied with and can execute well.

Small businesses do not have the budgets or time to engage in lengthy strategic planning sessions, nor do they need to follow a rigid step-by-step approach to planning. Instead, small businesses can gain insight about their business and focus their efforts by choosing three of the most likely courses of action that will help the business grow, and then coming up with a plan of action to achieve those three objectives.

Article Quote:

“What small business owners can and should do is to understand that a small business is not a large business regarding its abilities and needs with the only exception that it’s employ fewer employees.”

Link: http://customercentricjobs.com/strategic-planning-in-small-business-is-there-such-thing.htm

Strategic planning need not be a complex and exhausting chore. However, there are some elements of strategic planning that should be seen to regardless of the size of the organization or it’s industry type. First, there needs to be market research that evaluates how and where the organization fits into the market. Without this fundamental research, many organizations will create a plan only to later wonder why it didn’t work.

There also needs to be an evaluation of the initiatives that, when funded will generate growth for the organization. Once these initiatives are identified, select only the top 2 or 3 to focus on and create a breakdown of how you plan to accomplish the initiative. The breakdown, or plan of action needs to be as clearly defined as possible and include who is to do what, when are they to achieve the planned task, and what will be the action taken if the activity is not accomplished. By defining the plan in this way, the individuals responsible for their part of the plan will gain increased commitment and accountability. It is very important during the planning phase to evaluate internal and external factors that will likely affect the implementation of the plan.

Finally, all strategic plans need to be measurable and evaluated often. Strategic plans that are evaluated only once or twice a year are rarely executed well. The main reason is because by evaluating so rarely, leadership looses the ability to monitor the progress of the plan. In effect, it renders the plan useless when no one is measuring and making the adjustments that must be made to account for the running over of timelines, the need for additional resources, and holding accountable those selected to perform action items.

All of the steps mentioned above is made easier when strategic planning and execution software is utilized. Software that assists in the planning, assigning, measuring, and overall monitoring will give leadership a thirty thousand foot view of the entire strategic planning effort. This ensures that nothing slips through the cracks, and helps leadership evaluate performance on individual and goal levels.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

Dick Billows, PMP, GCA offers typical reasons projects fail . . . and talk about failing big with a 70% project failure rate! There are three roles that project management is dependent upon for success: the executives role, the project manager’s role, and the project team member’s role.

Each of these roles needs to be carried out in systematic approach in order for projects to be considered a success: success = produced planned deliverables, within budget and on time. For the complete article, click the link below. Billows highlights these three methodologies that companies with a proven project management track record follow:

1. They control the initiation of projects, including their planning, approving and monitoring based on the business value those project produce.

2. They manage project resources much like they manage their capital budgets – by allocating people’s time and money to projects based on the paycheck.

3. They follow a consistent methodology for all projects, holding people accountable for unambiguous achievements.

Article Quote:

“Project failure is not always the fault of just the project manager. Most of the lessons learned analyses we do identify problems with the performance of executives and team members as well. The solution is an organization-wide methodology with clear roles for everyone and some coaching by project managers”

Link: http://4pm.com/articles/project_failures.pdf

Project managers report that the number one feature they’re interested in when using project management software is status updates. With all the measurement tools and methodologies available, it’s surprising that status updates is the most sought after feature in software. This fact highlights the need for relevant and timely information by project managers. But how good is the status update if there is a perceived need to give “optimistic” data to avoid negative ramifications?

Project success would increase if there was an open and honest dialog between the project team and the project manager. Instead of getting angry and pointing blame when bad news is presented, project managers should control their emotions and approach the situation as “how are we going to fix this?”

If the internal atmosphere changed to allow for bad news and if schedules were followed closely based on the value of the project, then the frustration of failed projects diminishes. Sure, project management software will help ensure project success, but the fundamental issues surrounding “true data and projected estimates” must be addressed if real value is to be achieved with any software.

For more on project management software, see http://www.performancesolutionstech.com/category/project-management/

Summary:

Strategic planning should not be an act that occurs once a year, or once every three years. By checking in on your strategy in this way, it creates the need for larger business changes than would have been necessary if the strategy had been checked and adjusted more often. Large strategic changes are to be expected if a monumental factor occurs such as an economic crisis. However, many businesses experience larger than necessary changes simply because they don’t regularly check in on their strategy.

This article offers some suggestions on how to keep you strategic plan from becoming a dust collector. Business leaders should constantly be checking market conditions and asking themselves, “why would someone want to buy from me?” Challenging your mindset and thinking in broader terms will keep you open to opportunities and more in touch with market realities. Also, make sure your plan is simple enough to be achievable. Large complicated plans don’t usually get implemented well. For the entire article, click the link below.

Article Quote:

“It is amazing what a business can achieve with some very clear focus and direction – the Strategic Planning process is not a black art – it is part of that every day direction and management of your business and it pulls all the constituent parts of your team around that one common purpose – your goal and vision, your destination as a business.”

Link: http://www.gallery2023.com/strategic-planning-the-reality-behind-the-buzzwords

Strategic plans should be narrowly focused on the top three initiatives that will produce the most benefits for the business. Once those initiatives are identified, an action plan needs to be established. This is typically where most strategic plans get lost . . .  lost in translation that is. Action plans need to be broken down in a way that makes sense for daily work, and the individual charged with that portion of the strategy should be fully aware of their responsibility to the plan.

Performance technology that provides visibility of the plan, and the ability to drill down to daily tasks will assist leadership in their strategic execution efforts. By informing all persons responsible for carrying out the strategy, and attaching timelines for achievement, leadership has just created a performance measurement tool for both the individual and the target initiative. This is also where leadership can make adjustments to the plan. Checking in on your strategy requires measurement and strategic planning and execution software is a tool that keeps all the important information at your fingertips.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

The difference between strategic and financial planning often gets confused when developing a strategic plan. Both are critical and both need to be managed. Financial planning often aids strategic planning simply because you must fund the planned initiatives. However, the fundamental difference between the two activities is in the emphasis of the activity. Strategic planning is about growth, and financial planning is often about “keeping the trains running” – or survival.

The video below explores the differences between the two planning activities.

Integrating the two activities is the best way for organizations to accomplish goals and ensure that money is being spent wisely. A financial plan need strategy, just as a strategic plan needs allocated resources.

If you’d like to learn more about strategic planning, visit http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

Every business needs to monitor their finances if they plan on staying in business, from sole proprietorships to huge global conglomerates. The type of financial accounting system you select depends largely on the size and complexity of your business.

Small businesses might be able to operate with basic financial accounting features that manage general ledgers, accounts receivable, accounts payable, purchasing and inventory. However, if you’re business needs a software with a dedicated project accounting feature that includes asset management and project tracking applications, you’ll need to upgrade.

Article Quote:

“Employees can have direct control for anything up to half of your company’s entire corporate spend, so financial management software with integrated expense management functionality can give this control back to the company.”

Link: http://articlesmind.com/2010/08/financial-management-software-for-business

Choosing the right software for your company requires you to gain an understanding of what your business needs. One way to find out if you’re using software with the features you need it to do some competitive analysis. What are your direct competitors using? What do others in your industry use? Once you’ve identified the features you’ll need, it’s time to start contacting vendors.

There are a lot of choices out there for management software, so it’s a good idea to make a list of functions you require, along with a list of vendor specific questions. For example, “what kind of support comes with the purchase? How much will additional support cost? Will your purchase place you in a position to get upgrades for no or lower cost? Doing your homework before choosing a software suite will help ensure you get exactly what your business needs.

For more on management software, see http://www.managepro.com/management.html

Summary:

Strategic planning involves analyzing current and historic data and making informed decisions that are designed to grow or improve the organization in some form or another. The process itself adds much of the value due to the in-depth discussion and analysis, the focus of a decided upon path, and the increased commitment to goals or initiatives often created.

The result of the strategic planning process is a clearly defined plan that provides a basis for decision making and more detailed planning, explains the business to others in order to inform, involve and motivate, provides a basis for measuring performance, and acts as a platform for future planning.

Article Quote:

“A strategic planning process is an exciting exercise, and gets the adrenaline of all going! The process is a visionary travel, both conceptual and directional. That said, it should also be be realistic and attainable too.”

Link: http://www.originalriches.com/strategic-planning-process-strategic-planning.php/comment-page-1/#comment-847

Fundamentally, strategic planning should seek to answer these questions:

• “Where do we want to go?”
• “How are we going to get there?”
• “What kind of environment can we expect to encounter along the way?”

The more detailed a plan is, the easier it will be to implement and measure. For example, when developing an action plan with time lines, make sure to assign specific tasks to individuals and make sure they understand their responsibility to that particular initiative. By assigning tasks to individuals, they gain a greater sense of commitment and accountability. Also, it can make measuring performance easier, particularly if you implement performance technology.

Performance technology designed to keep goals and projects in front of assigned team members will greatly increase your productivity and makes performance reviews run smoother. By documenting outstanding work, along with what’s already been accomplished, leadership will have greater awareness of the progress of specific goals or projects.

For more on strategic planning, see http://www.performancesolutionstech.com/category/strategicplanning/

Summary:

When choosing membership management software there are some basic questions to ask before committing. This article offers suggested questions to ask potential vendors. For starters, what is the price? This is a good question to ask for obvious reasons, but be careful that the vendor doesn’t base the cost of the software on the amount of revenues your company brings in. This may be a good feature while your company is small, but as you grow you may be penalized with increasing charges.

Make sure to ask the vendor about technical support services, specifically how much support comes with the package. Find out if a set amount of support calls are granted per month, and what the cost is for additional support. Next, find out what design features are included for your site; will you have the ability to change the design, and is there an associated cost?

Article Quote:

““Cheap” is not always the least expensive option, especially if it costs you more (in the long run) through upkeep or replacement.”

Link: http://www.yourmembership.com/blog/2010/08/affordable-vs-cheap-membership-management-software/

Choosing the right management software for your organization can be a chore, but asking the right questions before hand is crucial. Before seeking out a software vendor, it is important to evaluate your business needs, precisely because there are so many choices on the market. While many may be similar, the devil is in the details. Understanding exactly what your company needs before interviewing vendors will help ensure you find the right fit.

Learning new software can be a challenge and take precious time away from running your business, not to mention the investment costs. That is one reason why it is so important to make an informed decision before deciding on any one software provider. Choosing the right management software can be the difference between great results and a failed and frustrated experience.

To learn more about management software adoption and advice on how to make it successful, check out this blog: http://www.performancesolutionstech.com/category/software-adoption/