![]() “Underlying” KPIs are equally as important. By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.įor example, a basic KPI such as Total Sales is critical for understanding if the company is performing well. Great businesses understand their metrics and KPIs. Section 6: Key Performance Indicators (KPIs) Ideally you update you strategic plan monthly to modify this section. Then work backwards two more times to determine your goals for the next quarter and the next month. Next, identify your one-year goals that is, what you must achieve in the next year for it to be successful and to put your company on the right trajectory to achieving your 5 year goals. They key is to first identify your 5 year or long-term goals. Setting and achieving goals is the hallmark of successful companies and is a critical element of your strategic plan. It also helps you identify which strengths you must develop in the near future to improve your company. The reason to include a SWOT analysis (analysis of your Strengths, Weaknesses, Opportunities and Threats) in your Strategic Plan is to help you determine the best opportunities to pursue to achieve your growth goals. ![]()
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