SHOW & CHAPTER 20: MANAGEMENT BY OBJECTIVES - WILLIAM EASTMAN

Critical in businesses of any size, maximizing the impact of resources is life or death in small business. The business has a written plan that includes aspirations (initiatives), results (goals), and activities (objectives). This is usually viewed as a strategic issue however it is critical if we are to achieve vertical alignment - people with the mission, goals, and objectives, this is a great method to achieve that end.

Show Objective
Given a contracting economy with diminishing business opportunities and inflation devaluing the currency, we will show the need to strengthen the core of the business to not only survive, but thrive.

EPISODE 93: Summary
This is the 4th Pillar of a Self-Managed Organization and a method for creating yearly business goals and collaboratively transforming it into objectives that every person in the organization can impact and be held accountable for performance. The process assumes there is a strategic planning phase and focuses on a 3-step process of (1) developing strategic initiatives and goals, (2) cascading goals throughout the organization to create objectives, and (3) rolling those back up to management for final editing and approval.

Topics:

• Developing Strategic Initiatives (Aspirations) and Goals (Results) for a time period
• Cascading Goals down the organization to create Objectives
• Rolling the Objectives back up the organization for review and approval

EPISODE 94: Strategic Initiatives (Aspirations)A Strategic Initiative is 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.
Topics:

• Intention: a description of the end result required over a specified period;
• Measures: how the end result will be measured;
• Targets: describe the success level;
• Potential Goals: a list potential business goals required to achieve the desired result.

EPISODE 95: Business Goals (Results)
​Business 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 Strategic Plan. View Business Goals as aspirations turned into Results and it forms the basis of Management's Scorecards.

Topics:

• Intention: a description of the end result required over a specified period;
• Measures: how the end result will be measured;
• Targets: describe the success level;
• Potential Objectives: a list potential business objectives required to achieve the desired result

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EPISODE 96: Business & Departmental Objectives (Activities)
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Business Objectives are based on Business Goals to detail activities required to achieve results and provide the implementation steps of a yearly Strategic Plan. View Business Objectives as results turned into Activities and forms the basis of Employee Dashboards.
Topics:

• Intention: a description of the activity required over a specified period;
• Measures: how the activity will be measured;
• Targets: describe the success level.

Next Show/Chapter 24: Business Acumen Training

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