Tuesday, 21 October 2008
This Southbeach template provides a structure for goal planning. This can be used for setting personal objectives, or planning company strategies.
The focus areas are the objectives themselves. However, these are arrived at by understanding the goal and what it means to have achieved that goal in terms of Key Result Areas.
Here is an example of a partially filled in template:
Increasing revenue improves profit. Capability, new solution areas and building on success all increase revenue. However, insufficient skills counteracts capability; not knowing where to invest counteracts creation of new solution areas; no case studies makes it difficult to build on success. The root causes of new solution areas, too many options and failure to write up successes are counteracted by the useful enabling actions of recruitment, market research and enabling success.
Identify the Key Performance Indicators (what you will measure - your measures of success) for each Key Result Area. Set objectives designed to achieve these. Then assess the situation to determine your Critical Success Factors - the things that need to be in place in order for you to succeed at your objectives and achieve your Key Performance Indicators. Some of these CSFs may be missing, so identify the blockers and the root causes of those blockers so that you can create enablers to overcome them and pave the way to achieving your goals.