Business Planning

Last week, we focused on strategic planning and taking time out to think big. It is easier to achieve a 5-year goal in business planning if we start now and make gradual changes towards the objectives. However, you need everyone to be pulling together. That’s where our business planning takes over.  

Business or operational planning is what we do in shorter periods (maybe 3 to 12 months) and in smaller teams or departments.  Our business plans need to connect with the strategic plan and make it possible for the members of our teams to understand their contribution to both the business as usual (BAU) component of their jobs and their future focus.  

Creating clarity on team priorities by breaking your strategic plan into business plans is essential to business success. It is now also a core part of our positive duty of care in psychological safety.  

Aligning the business plans across the company is essential. For example, in a manufacturing environment, an operations/IT manager wouldn’t schedule a technology upgrade during the busiest time of the year for sales. The potential for client satisfaction issues and employee stress from managing complaints is obvious. At Impact HR we work closely with clients to understand your business and peak periods so that annual reviews etc. can fit around your business year.   

Business plans can be broken down further into individual goals- objectives and key results (OKRs) or key performance indicators (KPIs) – so that each member of the team has their own view of what success looks like for them. This process will give you clarity of progress (or lack of progress) and helps you keep the business on track to achieve your vision. 

Taking time out of day-to-day activities to focus on planning is one of the most important investments you can make in your business. You’ll have clarity of where you are going, milestones of achievements and it will help you stay focused and motivated in both the short and long term.    

Even those really big goals are possible when we break them down into small steps.  

If you need help to turn your dreams into deliverable team objectives. Please reach out to Impact HR by clicking the button below, using our contact number 1300 474 672, or via email using info@impacthr.com.au.   We are excited to make your dream business come to life through your dream team.