What ideas for strategic objectives might you add to those mandated by your boss? Consider goals your group could aim for in order to make the best possible contribution to your company in the coming years. Payments that can result in future losses.ģ. Meeting the deadline: strictly meeting the payment deadlines in order to avoid any delay in Minimize fraud: fraudulent vender billing practices needs to be reviewed. Minimize costs: missed payments, ignored discount opportunities, paperless environment. Pricing and special/longer terms and discounts. Developing positive relationship with suppliers: Put efforts to get dedicated services, lowers Help at the time of reporting of cash flows, accruals, forecasts. Maintain accurate data: Maintenance of crucial data of suppliers, invoices, PO, checks that Innovative solutions: Need to automate workflows from p2p (procedure to payment) to save time and money. Team productivity: Need to focus on subordinate’s ability to work more quickly with less effort. Strengthen working capital: Refining accounts payable processes to eliminate funding gaps and realize high profits. If some or all of the objectives your boss has defined are vague or general, how might you gain further clarity and specificity? For example, if your boss has told you “We need to be more innovative,” you might ask, “Where should we focus our innovation efforts-on products? Processes? Services?”Ĭlarity: 1. Developing positive relationship with suppliers 6. What strategic objectives has your boss defined for you and your group? List them below. Clarifying objectives enables you to set the stage for thinking strategically about your work.ġ. Use this tool to articulate your group’s strategic goals and aims, and to clarify what you hope to achieve through strategic thinking. Assignment 6: Harvard Template - Strategic Objectives - Clarify with your boss
0 Comments
Leave a Reply. |