How to Use Strategic Planning and KPIs to Achieve Business Success

Strategic planning and KPIs are powerful tools for achieving sustainable business success. Strategic business planning is the process through which corporate executives devise a strategy to fulfill the company’s main purpose. First, the business owners state the main purpose or objective that the company is meant to achieve – mission and vision statements are written down to set the company’s overall direction and philosophy. This is followed by an analysis of the company’s strengths, weaknesses, opportunities, threats, competitors, collaborators and target consumers. Then long-term strategic goals or objectives are set for the entire company and its major divisions. Finally, short-term tactics are formulated to achieve these corporate objectives.

An effective planning process will enable business owners to take charge of their company’s future and focus on the most important factors that deliver outstanding performance. The performance of the business can be effectively monitored and improved through the use of appropriate KPIs. In this post, we will be discussing the process of creating strategic business plans and KPIs that will produce the desired business growth and success.

Strategic Business Plan

 

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How to Choose KPIs to Achieve Strategic Goals

Choosing the right key performance indicators (KPIs) can dramatically improve the performance of an organization. KPIs are an excellent tool to achieve strategic business goals. But only carefully selected KPIs actually provide the information required for monitoring and assessing performance. Whether you are a business owner or part of a management team, you need to know the steps required to select KPIs that aid continuous improvement. In this KPI article, we will be discussing the process of choosing KPIs that drive the achievement of strategic and operational objectives.

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2014 TDWI Best Practices Award

Every year, the “TDWI Best Practice Award” comes up around Feb. It’s always a good practice to apply even though you may not win. In the end, it helps you review your projects done in 2013 and that’s never a bad thing. Moreover, you have a chance of winning, you never know. This is the most recognized BI Awards out there. Give it a go!

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