Yearly Business Planning Like Procter & Gamble (P&G)|
Before we get started with outlining the Procter & Gamble (P&G) yearly business planning process, I want to mention...although you may learn how to business plan like Procter & Gamble, it is doubtful you'll have the success of Procter & Gamble (sorry)....but you should drastically improve your business performance.
The first part of the P&G yearly business planning process is defining your business Objectives - Goals - Strategies and Measures (OGSM
||Define the broad Objectives for the business within the next fiscal year |
||Define Numerical Goals for each objective within the next fiscal year|
For example, +1.0MM in Net Outside Sales (NOS)
||Define Strategies to reach each Goal to be executed within the next fiscal year |
||Define Numerical Measures for each Strategy within defined timeframes that are in line to deliver the Numerical Goals|
For example, X number of sales from a strategy.
Now after you have laid out the OGSM (Objective - Goals - Strategies and Measures), now it is time to make it real for your organization.
||List out all assumptions influencing the OGSM including economic environment constraints that could significantly impact results |
||List out tactics for each strategy that you can implement within the next fiscal year that are in line with the numerical Measures |
||Set targets for the strategies and tactics to make the plan actionable. A plan that is not actionable is USELESS!!! Some targets might be something that is measurable each week, month or quarter so you have an on-going way to measure your progress toward the larger goals. |
Now that you have an actionable plan that you should keep in front of you each day. Periodically, you have to REVIEW the plan:
||Periodically have an Action Plan & Review Form to summarize results versus your targets. Simply put, did you do what you said you were going to do? List out these numerical results because what you measure you can control. |
||Analyze why you were able to surpass some targets, barely meet some targets and not meet other targets. |
||From your Gap Analysis, what are the plan adjustments that you will make to get on track to meet the larger goals between now and the next plan review. |
With these steps you will be able to Yearly Business Plan like Procter & Gamble, but the key is making sure your plan is something that you USE
every day, that is ACTIONABLE
and is PERIODICALLY REVIEWED
Happy 2009 Planning,
Agent Technologies, Inc.
The Consumer's Workshop: the future of American manufacturing
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The Consumer's Workshop: The Future of American Manufacturing is a must read for today's business leaders. It is insightful and provocative in its approach to where US manufacturing has been, how manufacturing got into the troubles it faces today and what we need to do to become the standard for world class once again. If we want to know how to regain that competitive edge once again, the roadmap is certainly the pages of The Consumer Workshop.
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1) Manufacturing Output decreased 1.5%in November 2008 with durable goods down 1.3% and nondurable industries rose 1.6%.
Source: Federal Reserve Board
2) Manufacturing Employment fell by 149,000 jobs in December 2008.
Source: Bureau of Labor Statistics
3) Manufacturing Trade Deficit in October 2008 decreased $0.3 billion, or 0.4%, to $69.8 billion. Sources: Census Bureau, Bureau of Economic Analysis
4)Manufacturers' New Orders in November 2008 decreased $18.7 billion, or 4.6%, to $384.6 billion. Source:Census Bureau
5) Manufacturers' Inventories decreased $1.6 billion, or 0.3 %, to $553.4 billion. Source: Census Bureau