As someone involved in setting strategy, you sure know the value of an actionable strategy that achieves operational goals and objectives. The SMART methodology helps strategists like yourself set goals that are specific, measurable, attainable, relevant, and timely. Meanwhile, defining your strategy to meet these goals and objectives is critical as well. The image below helps us understand the relationship between a goal and an objective and how each relates to a strategy.
We have created a worksheet for you that implements the SMART methodology. Take a look at how an example based on the SMART methodology can be used to level-set your strategy. Click here to get a copy of the worksheet and view the short video (below) that will walk you through the steps to complete the worksheet.
When working in the Visible Advantage Project Portal, you will find that Strategic Planning is a connected type of activity. You are able to connect business goals, objectives, and strategy to business activities at all/any business levels.
Worksheet data imported:
- Business goals, objectives, strategies, and tactics.
- Problems, opportunities, and KPIs.
- Value Stream, Capability, and Initiative Impacts.
Strategies reflect WHAT activities are needed to achieve defined goals within policy guidelines.
Tactics represent HOW strategies will be carried out to achieve goals. Tactics define detailed task lists or action plans and usually require you to define business processes.
Growth Planning Statement:
Monitor the growth performance of all aspects of our customer service so that each activity has a positive impact on our sales.
Profitability Planning Statement:
Monitor the financial performance of all aspects of our customer service to ensure cash flow projections are achieved ahead of plan.
Example Insight Planning Statements:
Identify where and why we fall short on our KPIs and notify relevant parties about any shortfalls.
Identify which activities fall short of the project and business goals.
Upon working in the Visible Advantage Project portal, you and your team are able to view and post discussions about all of the elements of your business. Additionally, all of the elements of your business are mapped to the data upon which your strategy depends - whether the data be local or distributed. You are now able to run queries on the fly and in real-time to get actionable insights on how to accelerate your strategy - thereby achieving your business goals and objectives.
