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The most common mistakes in defining business objectives

The most common mistakes in defining business objectives
February 11, 2024 – 00:00

Companies seek to grow in an orderly manner. The problem is that it is often difficult to put the strategy into action. To avoid that, there are a series of steps and good practices to follow.

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Start the year with clear objectives is essential for the orderly growth any company. However, one of the main problems that companies face is the correct structuring of objectives cascading to all areas, that is, putting the strategy in action.

The objective definition process often does not respect best practices, and the most common errors are:

  • Short time to plan the strategy, prioritize and define concrete and realistic objectives.
  • Repetition of objectives from last year with a little more demand.
  • Lack of consensus of the objectives with the people who are going to materialize them.
  • Poor definition of action plans specific with dates and responsible parties.
  • Too much optimism and lack of planning of the resources necessary to put the objectives into practice.

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To avoid these errors, there are good practices for the definition and implementation of management systems by objectives. The most used methodologies are Hoshin Kanri and OKRs.

These methodologies start from the definition of the strategywhich is created with the different participants of the company, from all areas, to have a comprehensive and consensus view. Through the use of tools, the methodology ensures that each person takes “a little piece” of those objectives, called action planswhich are assigned to each person with dates.

The methodologies require shared criteria and a correct trackingwhich is not just a question of control, but monitoring hides something more important: removing people from their comfort zone to achieve results and learn. Therefore, for the implementation of the aforementioned methodologies, it is very important to have mentors that they can lead and manage them from the beginning to the end, since each company can go at different speeds according to its culture.

The implementation of the same methodology in one company is not the same as in another.

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The definition and implementation of clear objectives and action plans is essential for the orderly growth of any company. By establishing them, a common logic that unites people behind a agreed addresswhich generates motivation and allows companies climb and professionalize.

In addition, by establishing clear objectives and action plans, many issues that usually generate conflicts. Each person knows their objectives, their action plans and their dates, which allows leaders perform its function in a better wayfacilitating and motivating your teams in a agreed address. This allows the company to begin talking about more productive issues that require more evolved leadership skills.

Source: Ambito

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