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Those of you who've been following my articles know that I advocate a different approach to this process: Step 1) Learn whatever you can from last year's results - something many of us forget to do. For example, make 1998 the year you act on the knowledge that it takes six months to train your field reps, not the six weeks you used to allocate. Step 2) Set targets which will excite you and your team and get you out of bed every morning; Step 3) Figure out how to reach the targets in Step 2.

A well rounded strategy which will provide a platform for continuous growth should impact these critical factors:

* revenue and profit.

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  1. * product development. * customer satisfaction.
  2. * quality. * intellectual capital. * productivity.
  3. * strategic relationships.

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* new customer growth. * employee retention.

For each factor follow the three step analysis. Step 1. What can you learn from last year's experience in each area?

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What did you do right - what worked - what should you do more of? What did you do wrong - what didn't work - what should be stopped immediately?

Also, ask what is missing from this area. In other words, what could you add - or eliminate - which will make a big difference in your organization's effectiveness. Random examples of what might be missing: an organizational knowledge manager, periodic competitive analysis, a report of market share, an employee training plan.

Posted by Someone on April