The competition for business is hotting up. The advances in new technology, ease of communication, and increasing expectations from customers have combined to make
marketplace more competitive than ever. In this world it is critical for small and medium businesses to be proactive about creating their future. Without proactivity, things just seem to ‘happen’ without your control.A management system that is centred around goals is one tool that business can use to craft its future. This is a system of deciding what you are going to do everyday based on goals you are working toward.
It sounds simple enough, but research clearly shows that most businesses don’t set goals – at all. The goal setting process can seem daunting if it’s unfamiliar territory, or if you have so much on your mind that you don’t know where to start. This process will help you to sort through your key issues and create forwards looking goals that are innovative, resolve problems and improve results.
A goal-centred management system has 3 elements: 1. The goal or objective you want to achieve 2. The activities required to achieve goals, and 3. The review or evaluation process.
Here are 5 steps required to put your goal management system in place.
1. Identifying your Goals Start by asking yourself these three questions. If you have employees, often they have a different view about issues in business. Including them in this process can be really valuable. - What are three things that irritate me most about my business right now? - What have I been putting off, that I know will have a positive impact on my business? - What is working pretty well, but could be improved?
It might help you to think in terms of some common categories such as:
Employees (skill levels, right people in right jobs) Managers (management style, experience) Customers (strength of customer base, number, loyalty etc) Financial (cash flow, capital, low debt, profit margins etc) Reputation (brand strength)Products/Services (leading edge, innovative, competition, price) Environment (flexible work practices, physical working environment, location) Technology (automated, streamlined) Production (capacity, product range) Distribution (low cost, efficient) Sales/Marketing(promotion strategy, marketing materials etc)
