Page 14 - KFMS Your Own FD Ebook

• Agree milestones and prepare the plan into annual and quarterly targets

• Conduct a SWOT (Strengths, Opportunities, Weaknesses, Threats) analysis and incorporate
into the plan where necessary

• Prepare a detailed competitor analysis to evaluate what is currently happening in the
market

• Identify key players in the business

• Identify skill gaps in the business

• Develop a clear, coherent message (vision/mission/purpose) to staff and to customers

• Work with the senior team to ensure individual department goals are aligned with the
overall strategy for the business

• Implement an appraisal system to review objectives set for all department heads

• Implement accountability protocol for every member of staff

• Design and implement authorisation levels of authority for all department heads, to spread
responsibility across the business.

• Develop communication sessions to enable updates of progress of the strategic goals to be
shared regularly with staff

• Develop a set of relevant KPIs (Key Performance Indicators) and a system which allows for
regular (daily/ weekly/monthly/annual) monitoring and reporting

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