LOOKING FOR A BUSINESS LUNGE? IT IS TIME FOR A COMPREHENSIVE ANNUAL WORK PLAN FOR 2022

22/07/2021

The first article is from a series of articles.   

Many local companies in manufacturing, commerce, and services aspire to expand their businesses and even export their wares abroad, precisely against the background of projected economic risks and difficulties. For this action they need to have a workplan.

There approaches a date and time every year when managements are required to formulate an annual work plan and budget for the next year of activity – 2022. This time it seems that a remarkably comprehensive and in-depth process is required due to the year’s crises – the past two years.

What is an agile organization? What is its connection to building an annual work plan in 2022?

An agile Organization responds to markets, changing circumstances, and steps taken by competing companies.

The organization’s response depends on its culture and structure, the quality of its operating theory, management style, and technology that supports its operations.

It is recommended to assess the degree of agility of the organization or the potential for this as early as the stage of formulating a work plan for 2022. Evaluating the organization’s agility will enable the definition of small, focused, and non-rigid projects that serve a great purpose.

 

A business model in an annual work plan

A business model defines the rationale for how the organization generates value and provides a signal to its customers and how it intends to make money or meet its goals.

Many organizations are required to change a “business model” following the events of the year – the last two years-and survive competitively in the domestic and international market. It is essential to take this into account during preparation and planning for the next business year.

A future business model, sometimes a “disruptive” model, would require continuing an existing business model and, at the same time, a new business model suitable for coping with the challenges of the digital age. The company is required for a complex learning process.

Characterizing a business model requires an in-depth knowledge of who the customers are?

The supply of products and/or services? And what are the existing business processes, Forecasts, and level of certainty High? Smart data analysis is also required.

 

Evaluate your organization’s performance as part of the annual work plan

Here are the topics/areas that we  should  evaluate as the basis for prioritizing at and yearning in 2022:

  1. Organizational maturity

A possible definition of organizational maturity is a set of common meanings for organization members that examines it and other organizations (Miron, Erez & Naveh, 2004).

As part of evaluating the organization’s performance, it is important to refer, inter alia, to an existing organizational structure in the organization (in the broad sense of the definition), adherence to decisions and task management, the level of visibility of the organization’s products, and the degree of innovation that exists, teamwork, support, competitiveness, employee development and remuneration, social relationships, emphasis on the individual, adaptation of the organization to changing situations, risk management,  flexibility and more.

  1. Business objectives, service charter refresh, and improved performance

Estimate Is business goals defined? Is there a clear and satisfying service treaty between the organization and its customers? Is there a clear and satisfying service charter between the organizational units (internal customers), how do the toys meet the objectives and the art of service?

  1. Business Model

Assessment Does the existing business model meet the goals? Is this model suitable for the new markets that the organization seeks to penetrate?   What are the necessary changes? Evaluating the investment required to change a business model; what characterizes the relationship between the organization and its customers,  suppliers, and partners?

 

  1. ‘Activation theory’ orderly

Evaluation of the totality of procedures, work instructions, and postcards applied to work processes and products.

Perception and Principles of Work: The customary concept is that the intra-organizational technology unit supports organizational processes and the organization’s changing objectives while identifying the advanced technologies in the market and their support for activity advancement.

 

  1. Data-biased organization – Digital

The benefits of switching to digital are well known and understood. So are the benefits of a data-oriented organization.

The combination of data and digital empowers and ensures accurate work processes and leads to efficiency and savings. The data is a qualitative advantage (a  kind of X-Factor) in the digital journey.

Estimate Is the organization relying on data for decision-making? is the data “complete”? Is the data qualitative, is there an organizational data model, is there digital technology to promote and improve data usage?   Are data-based prediction processes in progress?

 

  1. Supportive and innovative technology

Evaluating the degree of connection between IT and business, the need to continue realizing digital transformation as a key to your organization’s future. Assessment Is there a program/program for promoting and improving technology – information systems, infrastructure, DIGITAL? Are there solutions/planning in the following vital contexts? Information security, business continuity, Data Center, SAAS solutions – software as a service (possibility of purchasing  IT services), cloud and human resources in the technological field?

 

  1. Support decision-making processes  

Are the decision-making processes in the organization sufficiently carried out? Are appropriate information-based decisions a good one?  Are decision-making tracking processes carried out? Are there any decisions based on predictions?

 

Building a work plan AND BUDGETING FOR  2022

The process of building a work plan and annual budgeting is not discussed in this article. The following are general highlights related to organizational change, improvement, and perfection of the IT system in the organization. The results of the organization’s performance evaluation phase must translate into:

  1. Strategic goals – where the organization plans to be in about five years.
  2. Organizational goals – where the organization plans to be in about two years
  3. Goals to be realized in 2022.
  4. Planning guidelines for all partners in the organization
  5. A list of projects that includes goals, project description, schedule-based activities, planning of implementation, resources, risk management, success metrics.
  6. Prioritizing projects
  7. Budget / Frame

Companies that aspire to start their businesses in 2022, whether it is breaking into a new domestic market or new business activity abroad, are required to examine and evaluate their performance – both at the organizational, managerial, operational, and technological levels.

Evaluate performance, lead roundtables, brainstorm relevant and then create your work plan and budget for the next year of activity.

Written by :

Menashe Hershtik

Director of Integrating Technological Systems and Innovation in Organizations

[email protected]

For Hebrew version click Here