Does your company have the strategic direction and focus it needs to achieve its goals?
It’s easy for managers to get stuck in the day-to-day execution of their business. They can become burdened with too many goals, conflicting goals, the wrong goals, or, worst of all, have no goals at all. They may also have managers or employees who aren’t performing well without even realizing it. These issues lead to lower market competitiveness, customer attrition, and the loss of their best employees.
Instituting quarterly operating reviews can help. Regular reviews allow you to improve, refine, and adjust executional performance, and equip you with the strategic direction and focus you need to achieve the goals you set for your business. Establishing a quarterly rhythm for operating reviews will help you realize your most important long-term goals faster and more effectively. The power of operating reviews comes from their ability to:
- Align each operating unit’s quarterly goals with the current state of your markets, other operating units, and the company’s long-term priority goals
- Focus each operating unit on the most important goals to accomplish the following quarter and minimize other activities that distract from the focal points
- Ensure that each unit is clear on its goals; has the appropriate resources, confidence, and conviction to realize those goals; and has taken responsibility for achieving those goals
- Maximize the opportunity for each unit to accomplish its most important goal
A quarterly operating review process is something you must have in place if you are going to make the most of your company’s potential. There’s no other meeting that more consistently impacts the performance of a company.
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