| A strategic plan is crafted to secure the desired | | | | can be made to the plan so that the impact will not be |
| results through specific business goals. This may be a | | | | as severe. |
| simple process for the small business owner to a very | | | | In recent years, a new component has been added to |
| complicated process for Fortune 100 companies. | | | | most strategic plans - the business dashboard. By |
| Monitoring the progress of the business goals is | | | | identifying key performance indicators that are |
| necessary to ensure effective execution. This | | | | monitored either daily or weekly, the company has the |
| monitoring should be conducted through regular | | | | ability to make even quicker course corrections. These |
| meetings that are focused on the plan and only the | | | | key performance indicators are grouped together in |
| plan. Other business and performance issues should | | | | what is called the business dashboard. Much like the |
| be directed to separate meetings. | | | | dashboard of your car, the purpose is to quickly see |
| When conducting these meetings, it is imperative that | | | | what is going right such as enough fuel and identify |
| the purpose is monitoring the progress and results of | | | | any potential problems such as Check Engine Light. |
| the goals within the strategic plan. Many times in | | | | The business dashboard could be the agenda for |
| business, people confuse motion with progress and | | | | each of these meetings. |
| activity with results. | | | | Yes, you can have an executable strategic plan |
| These regularly, either weekly or bi-monthly, conducted | | | | provided you remember to regularly monitor the |
| meetings usually helps everyone to keep a focus on | | | | progress and results of your business goals. By not |
| the progress and results of the business goals. Also, if | | | | doing so, is an invitation to disaster. |
| unforeseen obstacles happen, then course corrections | | | | P.S. |