6. Operating Targets – Non-Financial
( Opening a Brewery store in Victoria, BC, CANADA) And write the non-financial operating targets. )
Your aim is not only to restore the operation you’ve taken over to financial prosperity, but to also set it up for long-term, sustainable success. Ultimately you will be judged via a balanced scorecard which takes into account financial targets competitiveness, inventory management, as well as marketing and human resources. Choices you make in a wide range of areas will affect this scorecard.
This section of the Operating Plan is your opportunity to address operational areas that will be critical to the execution of your plan. This should include key aspects of your staff planning, marketing target and research and development. Remember, however, is that even though these targets are not labelled are financial, they almost always take time and money to implement. It is important that you understand the cost/benefit relationship of making these commitments.
While there may be a financial aspect attached to these objectives, (i.e., it costs money to hire staff or invest in R&D), you should focus primarily on the outcome you want. Other than perhaps making a general reference to costs or finances, don’t get bogged down at this point too much on the money aspect at this point. (That will happen when you are executing your strategic plan.)
Remember, the overall long-term viability and sustainability of your operation is not based solely on operating performance for five months. Employee morale is critical to long term success, as is customer feedback and loyalty. All of these areas point to the ability of your operation to be successful for the long haul. You may find other targets and measures that can be included here, such as market share or other performance factors relative to your competition.
Just like any objective, these non-financial targets must be set up in SMART (specific, measurable, achievable, realistic, timebound) format. You will be taking into consideration the perspectives of many stakeholders, not just the owner. You are required to provide a minimum of six non-financial objectives but are free to provide more. For each objective, indicate how it will be measured and your specific strategies for achieving them.
These are some parts I though about, you can add or delete. 7 is total. But each points need to be welly described why this are our targets. Thank you
1. Customer Satisfaction
2. Employee Training and Development
3. Community involvement
4. Employee Engagement and Satisfaction