How to Execute Strategic Business Plans without Missing the Target?
Strategic planning is easy
During last week in Tallinn, Net Group’s team took part in the Äriplaan 2019 (Business Plan 2019) conference. Estonian business owners, leaders, and decision-makers came together to discuss the business trends and their plans for 2019.
Yes, planning is a must but planning is also easy. Strategic planning might be a bit more difficult but it is still simple. The hard part is carrying out the strategic plans while also reaching the set goals. One might forever talk about strategic goals without actually operationally moving towards them.
This is where a well-thought-out business-IT-environment comes handy. We know that in today’s world the strategic decision-making regarding software is not just a task of the IT-department. The actual leaders of the business must be the ones making software-related decisions or they should at least be included in the decision-making.
Why? Because otherwise, the software is not serving the right cause – the strategic goals of your business.
How accurate are Estonian business owners in reaching their goals?
The Äriplaan 2019 conference was where we decided to carry out a little game, or a market survey as we like to call it. We set up a huge target board that had the major business goals in today’s world marked on it. Business goals such as raising profit, making business processes faster and clearer, lowering costs etc.
We then invited everybody to take part to fly their businesses to a new level. We handed out paper planes that were sent flying towards the set target. The goal was to see, how accurately the businessmen (and -women) could actually reach their set goals.
Most desirable goals of decision-makers
We showed the live results on the screen with a Power BI dashboard and as we can see from the same dashboard below, our experiment was a success. Most business-owners see raising profit as their biggest goal, no surprise here. Also popular were raising turnover and lowering costs. As we can see from the dashboard, the achieved goals were not necessarily the same as the previously set goals. The hit accuracy was 47.37%, half of the throws missed the mark.
The key takeaway from this little experiment?
In business, one might try to reach a set goal but it’s often not straightforward. Fortunately in our experiment, missing the desired target resulted in hitting another beneficial goal. In reality, however, missing the target is actually considered a failure.
So, how to make sure that after all the hard work of planning and setting the goals you will eventually reach the desired state? It’s all a matter of communication, enabling easily accessible information for all parties and making the right operational moves. In today’s digital world, one cannot make the right operational moves without knowing, considering and using the potential benefits of the IT-environment.
Well-crafted software might just be the gunpowder that will help you shoot your business to a new level of success.
Hungry for challenges
Is reaching new strategic business goals a challenge? Digitization and automation could be the solution, send us an e-mail. We’d be happy to suggest solutions and carry out development to help tackle your business challenges.