Page 53 - SKU-000506274_TEXT.indd

Summary

I Too many planners look at markets either in too simple or too
I complicated a manner. PEST+ analysis delivers the questions
I that ensure that you consider all that is important without
I becoming excessively academic.

Strategic objectives

n Given the mass of information that we now have what are our
strategic objectives?

n What are our priorities?
n Do the objectives state clearly exactly what we must do?
n Are we clear on how we will measure the success of each?
n Is every objective meaningful in that it makes a significant

contribution to the success of the strategic plan?
n Is each achievable in the probable market and economic

conditions?
n Is each attainable with the resources and people that we have or

can acquire?
n Have we included any necessary development of people or

resources?
n Have we used expert inputs from departments and divisions to

ensure that we will have, for example, a training and development
plan, a production and productivity plan and so on that fully
supports the strategy?
n Are all objectives clearly time-framed?
n On the basis of our strategic objectives can every department
and/or division identify their contribution?
n Have we taken full account of our contingency and avoidance
plans?
n Have we decided how often the top team will review the strategic
objectives?

Summary

I Strategic objectives are a jigsaw puzzle that break down into
I tactical objectives and actions. They should be comprehensive to
I ensure that if they are achieved then the total strategy is
I achieved. They are then split into tactical objectives designed so
I that if each is achieved the strategic objectives are achieved. They
I are the cornerstone of long-term prosperity.

22 Key management questions