Introduction to Balance Scorecarding…

November 25th, 2008

Today I am going to Introduce Balance Scorecarding, which is one of many theories to effective strategic planning and management. 

The Balance Scorecard was introduced by Dr. Robert Kaplan and David Norton in the early 1990’s as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more ‘balanced’ view of organizational performance.

Top Tips for Effective Business Planning and Strategy Management.

November 23rd, 2008

 

As all of you  are aware of todays economic situation has pushed a major focus on business planning and strategic management. Below are some of my top tips for effective business planning. 

     1. Clearly define your business idea and be able to succinctly articulate it. Know your mission.

     2. Examine your motives. Make sure that you have a passion and focus for the objective at hand.

     3. Be willing to commit to the hours, discipline, continuous learning and effective communication to execute the objective.

     4. Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business. Market analysis and research is vital, and should be taken seriously.

For further assistance for business planning and strategy management please keep following this site or feel free to contact me at jsobieck@gmail.com.

 

Thank you for your time.

Joe Sobieck

Starting your Strategic Planning?

November 18th, 2008 

When starting to create your Business Plan or Strategy, the planning should follow your Organization’s; Mission, Value and Vision (MVV).

Your MVV is actually the ground work and first steps of any planning for your Organization. It is allows an Organization to set the tone, purpose, and core values. MVV is also integrated into Organization’s Training to establish an employee’s mind set, how to conduct itself, and understand the direction. Below is a brief outline in creating a Mission, Value and Vision.

Mission;

1. Should establish a strong sense of organizational identity and purpose

2. When wording the mission statement, consider the organization’s products, services, markets, values, and concern for public image.

3. The statement should clearly separate the organization from all other organizations and competition.

 

Value;

1. Values represent the core priorities in the organization’s culture.

2. Values are increasingly important in strategic planning, often driving the intent and direction.

3. Establish four to six core values from which the organization would like to operate. Consider values of customers, shareholders, employees and the community.

 

Vision;

1. This is your time to briefly outline the big picture of the organization.  Example; Who we are, What we do, and Where we are headed.

2. Creating the value is setting up the long term direction.

 

Keep looking for more on strategic planning tips. Thank you for your time.

Joe Sobieck