P5.003 (People in the Game) MBO - THE ULTIMATE POWER TOOL - WILLIAM EASTMAN

This is Show 3 in our Series of 9 on Getting Your People In The Game. 

INTRODUCTION
MBO or Management By Objectives fits in many places. It is a Strategy tool, a Finance tool, and a Production tool. However for today's show it is a People tool especially if your goal is to involve employees in the company's success.

​OBJECTIVES

1. How must happen to make MBO possible?
2. How does it work day-to-day?

WHAT YOU NEED TO KNOW

1. The Basic's of Business Planning
   1. Strategic Initiatives: an investment of resources dedicated to accomplish an organizational aspiration. It is based on an analysis of the market to determine long-term opportunities & threats, and short term impact on the businesses strengths & weaknesses. It needs to provide enough information to create goals (results) and objectives (activities) required to execute the Initiative.
      1. Intention - a description of the end result required over a specified period of time;
      2. Measures - how the end result will be measured;
      3. Targets - describe the success level;
      4. Potential Goals - a list potential business goals required to achieve the desired result.
   2. Goals: are based on identified Strategic Initiatives to clarify intended results, serve as the basis of Business Objectives, and provide the backbone of a yearly or stage based plan.​
      1. Intention - a description of the end result required over a specified period of time;
      2. Measures - how the end result will be measured;
      3. Targets - describe the success level;
      4. Potential Objectives - a list potential business objectives required to achieve the desired result.
   3. Objectives: are based on Business Goals to detail activities required to achieve results and provide the implementation steps of a yearly or stage based plan.​
      1. Intention: a description of the activity required over a specified period of time;
      2. Measures: how the activity will be measured;
      3. Targets: describe the success level.
2. Creating the Plan
   1. Business Plan: calendar based.
   2. Growth Plan: based on the stage of growth.
3. Getting Everyone Onboard & Contributing
   1. Creating the Plan: Owner & Management Team if it exists.
   2. Cascading the Plan: Managers & Supervisor.
   3. Rolling Up Feedback on the Plan: Front Line, Supervision, and Management
   4. Finalizing the Plan: Owner, Managers, Supervisors, Front Line Employees.

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WHAT YOU NEED TO DO

1. EPISODE A.014 CONVERTING GOALS INTO BUSINESS OBJECTIVES

​"The World of Business at Your Fingertips" 

1. Follow the Process Under Control Series all season.​
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