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When an employees goal is defined in terms of an

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When an employee's goal is defined in terms of an organizational KPI, it ensures that whatthe employee is doing is well aligned with the goals of the organization. This is the criticallink between employee performance and organizational success.Let's take an example of how an individual employee's goal is linked to organizationalstrategy:Organizational Vision– To be known for our superior customer service and satisfaction.Organizational Objective– To reduce the number of dissatisfied customers by 25%.Organizational KPI– The number of customer complaints that remain unresolved at the endof a week.Team Member's Goal– To increase the number of satisfactory complaint resolutions by 15%this period.Team Member KPI– The weekly percentage difference in complaints handled that result insatisfied customers versus unsatisfied customers.7.The employees in both departments do not meet the KPIsDate 20 November 2016Page 10
Contingency plan refers to a plan formulated for intended outcome rather than within theones that are usually expected plans. It is generally utilized for the risk management whilean outstanding risk which, though improbable, would carry catastrophic results. Such plansare frequently formulated by the governments otherwise businesses (Payne 1999). Forinstance, suppose several staffs of any firm are traveling with each other on same aircrafthat crashes, killing people aboard. The firm could be harshly strained otherwise even ruinedthrough such a big loss8.Develop a business proposalDo your research- You will need to make quite a few decisions about your businessincluding structure, marketing strategies and finances before you can complete yourplan. By having the right information to hand you also can be more accurate in yourforecasts and analysis.Determine who the plan is for- Does it have more than one purpose? Will it be usedinternally or will third parties be involved? Deciding the purpose of the plan can helpyou target your answers. If third parties are involved, what are they interested in?Although don't assume they are just interested in the finance part of your business.They will be looking for the whole package.Do not attempt to complete your business plan from start to finish- First decidewhich sections are relevant for your business and set aside the sections that don'tapply. You can always go back to the other sections later.Get some help- If you aren't confident in completing the plan yourself, you can enlistthe help of a professional (i.e. Business Enterprise Centre, business adviser, oraccountant) to look through your plan and provide you with advice.Actual vs. expected figures- Existing businesses can include actual figures in theplan, but if your business is just starting out and you are using expected figures forturnover and finances you will need to clearly show that these are expected figuresor estimates.

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Business, Management, Operational Plan

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