|What should Action Plans include?
Planning is easy compared to the challenges of implementation. Many organizations have great plans that sit on the shelf
and gather dust. One of the reasons these plans are not implemented is they do not include well-crafted Action Plans. A good
Action Plan (one that can be implemented) must include at least three things. First it must include a list of the specific actions
to be taken. Second, they must link those actions to a timetable. When will each of the actions by accomplished. And third, who will
be responsible for each of the tasks and for the Action Plan as a whole. Obviously, you can get carried away with Action Planning by
getting bogged down in too much detail. Good Action Plans are a valuable tool for holding people accountable for the things
they have committed to do. There should be enough detail to set the expectations for everyone involved. Clear Action Plans also allow the leadership
to follow up and know when actions are behind schedule or not happening at all.
|What is the difference between a Goal and an Objective?
Many organizations use the terms Goals and Objectives interchangeably. They make no distinction between what is a Goal and
what is an Objective. We have found that it is useful to think of them as different. A Goal is enduring and timeless. It is
something the organization continuously strives for. It is the ideal the organization would like to achieve. Goals are qualitative
in nature. The progress an organization makes towards its Goals are assessed rather subjectively. Goals are usually developed
to address selected Constituent Groups that are important to the overall success of the organization. Objectives are different in that
they are specific and measurable. They are set and accomplished within a given timeframe. Objectives are always quantified. There
should be no doubt whether an organization achieved its objective. As you might guess, Objectives are assessed not subjectively but objectively.
Organizations need both. They need the long term perspective provided by Goals and the measurable results defined by Objectives and
expected by management.
|Strategic Planning Myths.
|The poll question last quarter asked people to identify the best thing government can do to address higher energy prices.
The two most frequent responses where to reduce regulatory restrictions (36%) and fund more research (36%). Here are the actual results:
|0%||Reduce taxes on gasoline and other forms of energy|
|9%||Subsidize renewable energy sources|
|36%||Reduce regulatory restrictions on the energy industry|
|18%||Open new federal lands for energy exploration|
|36%||Fund more research on energy efficiency|
|Our poll question this quarter is: How likely is it that the Republican Party retains
the majority of both the House and Senate after the November election:
Toss Up (Don't Know)
|You should cast your vote based on what you think will happen, not what you want to happen.
Please respond by election day (November 7th)
|Click here to participate in our poll.
You may return to the Poll Page to monitor the results as often as you like.
However, you should respond to the poll question only once.
|Dow Jones Industrial Average
|The Dow Jones Industrial Average was first published in 1896 and included 12 industrial stocks to represent
the health of the US economy. The index now contains 30 stocks and has recently posted all-time record highs - closing
and intraday. Guess how many of the original 12 companies are still around today. That's right - one. General Electric (GE)
is the only company that has survived the ups and downs of 110 years of business.
I wonder if it is a coincidence that GE is a recognized leader in Strategic Planning.
Click the link below to see a list of the original 12 companies in the Dow.
(DJIA Original 12 Stocks)