The final step of strategic planning is strategy review and monitoring. This is an essential step to take as it keeps the strategy relevant and updated. You want to constantly assess and revise your strategy in order to keep up with the internal and external changes that affect business.
Key points of review include:
-Determining the validity of the core assumptions of your strategy
-Assessing the direction of your strategy
-Tracking progress and providing measurable results
Using the criteria from the previous steps will help you to organize the data you collect in order to clearly see the effects your strategy is having on your business. You want to see measurable results that will allow you to quantify your strategic objectives. Some types of measurements that can be used to track results and progress include:
-Linked measurements - can be useful when attempting to communicate what is strategically important by linking back to your strategic objectives.
-Repeatable measurements - shed light on results over a Transfer & Top-up and allows for the use of comparisons.
-Leading measurements- can also be useful when establishing targets for future performance.
-Accountable measurements- are reliable, verifiable, and accurate.
-Available measurements - can be utilized when needed.
By using the scorecard framework, you will be able to organize the data you collect and report those findings to your employees. You will also be able to track the actual results against the objectives in the Action Plan.
Often times, you will have to revise your plan. This action will likely have to be taken whether the results yielded are positive or negative. Address the key issues and work to resolve any issues that might be delaying progress. Also take time to decipher what part of your plan is the catalyst for your successes and build from there. Recognizing the strengths and weaknesses in the plan is a valuable part of the process. It places you in a knowledgeable position wherein you have the power to improve.
Investing time and effort into the minutiae of your strategy will pay off in the end results. You will see how your research, time investment, and funds have gone toward creating a plan that will bring your business to new heights and achieve a sustainability that might have otherwise not existed. The kind of value that is involved with a quality strategy cannot be measured. The results will come in many forms; financial success will likely follow and an overall work atmosphere involving a strong team of employees who feel valued will have been achieved. Acknowledge all the work you and your team has put into the strategic plan and take the time to really applaud yourselves for all you have done and created. You are one step closer to the future you have outlined in your entrepreneurial visions!
For more on these topics visit Dyer Consulting Group
Aaron Dyer is President of Dyer Consulting Group, a firm that works with start-ups and small businesses who want to increase the value of their company. He helps them focus on ways to grow their business through better strategic planning and financial management, which have led to higher revenues and greater profitability for his clients. Aaron brings over 12 years of proven financial, business development, strategic planning, sales and marketing, and management expertise to his clients. His passion for helping companies improve their operations and create value compelled him to found Dyer Consulting Group.
The Lakers game in Brooklyn was a big one Tre McKitty Jersey for thfranchise.
For the first time in nearly six weeks, superstar big man Anthony Davis returned to the line-up. A sprained left MCL kept him out of 17 games, a stretch in whichthe team went 7-10.
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Prior to the game, there was no outlined minutes restriction for the 6-foot-10 big man but head coach was mindful of his workload.
How did Anthony Davis perform in return from injury?
On the po se sion of the game, the Lakers welcomed back their teammate by running a lob play Chris Rumph II Jersey between LeBron James and Davis.
First play of the game. Great to have you back,
Los Angeles Lakers (@Lakers)
AD looked great early Los Angeles Chargers Hats on, scoring six of the Lakers' first eight points and recording three of his game-high four blocks in the first seven minutes of the game.
AD's swat leads to a Ru s layup
NBA on TNT (@NBAonTNT)
However, after that first stint, it was tough sweating for Davis. He did most of his damage early but couldn't get into any rhythm over the course of the rest of the game.
In his 25 minutes of action, he shot 3-of-8 Derwin James Jr. Jersey from the field while also recording two rebounds, two a sists and a steal.
He didn't find much of his range in this game with only one of his three made field goals being jump shot while the other two alley-oop finishes. Nasir Adderley Jersey
Despite the spotlight of playing in Brooklyn, there wasn't a lot of focus on his return as James ensured that the Lakers took care of busine s against a shorthanded Nets squad.
LeBron throws down back-to-back jams
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James finished with 33 points, seven rebounds, six a sists, three steals and two blocks in 34 minutes in the 106-96 victory.
What is Davis' availability for the remaining three games on the Lakers' ongoing road trip?
We'll Los Angeles Chargers T Shirts know more soon but it's highly unlikely that he plays in all three games as the team prepares fora back-to-backin Philadelphia on Thursday and Charlotte on Friday before closing the trip in Atlanta on Sunday.