Planning and Setting Objectives for your Business Plan

[Joseph Scorese]

Planning and Setting Objectives for your Business Plan

1. Make them Specific. Objectives should be defined of what the individual is expected to deliver. Keep simple statements of required end results written as action statements – what the individual is planning to do.

2. Agree Measures of achievement.Results need to be measurable so that, at the end of the time period set for the objective.

3. Make them Achievable, but Challenging.Constant failure to achieve objectives is depressing and demotivating, it is therefore important that they remain realistic at all times.

4. Agree Objectives Jointly. Objectives, which can be proposed by both the role holder and the reviewer, should be discussed and agreed jointly wherever possible as it is important that the role holder feels though they can own the objective and be committed to it.

5. Review Progress Regularly. Main objectives should not just be agreed at the beginning of the year and reviewed each quarter. Sub-objectives should be set to help the holder succeed when necessary. They should be part of an ongoing process whereby the reviewer and role holder review progress and decide future steps jointly. Objectives need to be flexible.

6. Agree on a Timescale.Always set a target date for the completion of the objective. A target deadline gives the role holder something to aim for and can help them to plan their work. It can also help the reviewer to ensure that what is agreed becomes an action, rather than just an intention.

7. Make sure the objectives are within the Role Holder’s control.The role holder must be able to be in control of the outcome

8. Support the Objectives with Action Plans and Accountability. The role holder knows what they have to achieve, by when and how they are going to be measured; but do they know how they are going to go about achieving their objectives? Action planning can help.

9. Clearly Worded. Use clear easy language, it has to be understood by both reviewer and role holder. When writing objectives beware of using the words listed below, even though they may look attractive and ‘managerial’