Respond to classmate Dis 1

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Business Finance

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Michelle Hart

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When developing a strategic plan it is important to choose metrics that can be measured. "Objectives must be measurable; that is,some objective metric must yielduseful data indicating that an objective has been met" (Abraham, 2012, p. 7.3). If an objective cannot be measured, can it really be achieved?

I think an organization might consider monitoring productivity metrics when strategically planning. For example, at my company we take inbound technical support calls. Some large metrics we look at are utilization of our team members, abandon rate percentage of calls, and service level which is how fast we are getting to the calls we are answering. By looking at these numbers we were able to determine that we needed a way to work smater, not harder. We then could come up with a strategic plan to focus on an online community where our customers can connect with eachother, post questions, start their own cases, and view resources to answer their questions. We can then measure again if these changes have helped our customer service metrics out.

Another metric that an organization may want to consider when strategically planning would be budget or financial. Using my company again as an example, we took metrics from how we were performing to determine we needed a new plan. Then we took metrics and numbers from our financial end to see what we could afford. Hiring new individuals to combat how busy we are was not an option based on our financial metrics, and so we instead decided to go a different route that helps us stay more relevant in today's technology, saves us money, but still helps out with other metrics we measure.

Without being able to measure metrics when strategically planning it is hard to make wise decisions. Metrics are really like investigative data that helps lead an organization to making strategic choices and lead to what they hope will be success. Leaders must choose criteria that is measurable when developing a strategic plan, because the metrics would otherwise be open to interpretation and bias.

References:

Abraham, S. C. (2012). Strategic management for organizations [Electronic version]. Retrieved from https://ashford.content.eduLinks to an external site.

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Running head: STRATEGIC PLAN

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Strategic Plan
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STRATEGIC PLAN

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I totally agree with Michelle Hart that when it comes to developing a strategic plan, it is
essential to choose metrics that can be measured. This is to mean that if an objective cannot be
measured, then its achievement becomes questionable. ‘Objectives must be measurable; that is,
some objective metric must yield useful data indicating that an objective has been met...


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