Top 5 Worst Errors in Your Business’s Annual Strategic Planning
The end of the year is always a very important time for companies, as well as measuring the actions and results of the year that ends, it is also time to plan all the actions of the following year and to define the strategy that will guide the direction of the company in the next 12 months. This is not an easy task and requires dedication and commitment on the part of managers and decision makers. Sometimes mistakes made in the strategic planning of the company are responsible for the less positive results of the following year. In this article, we present the 5 worst mistakes in your company’s annual strategic planning so you can avoid them!
Lack of reflection about the year ending
Many companies make the mistake of only presenting values in the annual reports, without making an interpretation of the data that they have ahead. Rather than saying that goal X has not been met, you need to do a deep analysis until you find the reason why the goal was not achieved. The past of business is a very important teacher for your future as it teaches us not to make the same mistake twice.
Lack of continuous monitoring
The decisions in the companies, in the vast majority of cases, are taken based on reports with a few days, which makes the company’s action reactive and not proactive. More and more it is necessary to monitor the business in real time, because only this way it is possible to take immediate corrective measures. Companies should analyze their planning on an ongoing basis and not just at certain times. Softwares such as Multipeers, which allow us to analyze all the company’s actions in real time, are a reality that is increasingly present in companies around the world.
Lack of communication
Lack of communication is one of the major mistakes made in companies. Managers often forget to clearly communicate their intentions to all members of the company, which makes many employees not know what the annual goals are and drive them to work unfocused. Always communicating annual planning in a clear and objective way is a rule for all companies that wish to be successful.
Wrong priorities
Companies have the ultimate goal of achieving the highest possible profit, but a series of steps have to be taken to achieve maximum profit and income levels. One of the major mistakes made in planning is the incorrect definition of priorities. Many managers list as their top priority goals that will never be met unless we pursue other goals.
Lack of information
Lack of information in companies is a very serious problem. Managers to make a conscious decision need to consult a large number of sources of information, which makes this process time consuming and tiring. The use of business monitoring tools such as Multipeers allows the manager to have all the real-time information about the company on the Desktop and on his mobile device, being much more informed when deciding.
