Clearly record proposed changes to aid future plan

[Midfielder]

Post your tho's on this element on this thread..

[ashrafun]

The need for evidence of changes to recordkeeping requirements is in itself a recordkeeping requirement, because it enables organisation to account for past recordkeeping actions and decisions. Records management is the first important task in the process of sound business management for a small business operator. Accurate and regular business operational information owner to monitor the success or failure of his / her business and provides with information to evaluate the consequences of his / her business decisions.

A business process is a concise description of work carried out by an organization. An evaluation and description of business processes provides a picture of an organization’s operations and information flow. It is the basis for making organizational and operational improvements and for determining how record keeping of proposed changes can support operations and deliver benefits to aid future planning and evaluation of business.

Keeping accurate and up-to-date records of any events / changes is vital to the success of any business. The business owner must realise that records kept will be one of the most important management tools it possesses and, therefore, it should be allocated due importance. Many business owners invest a lot of time and effort into the running of their business and yet fail to realise the importance of maintaining good documentation. The business owner is looking for the maximum return from their investment and the maintaining of good records is part of that equation.

Any record keeping system should be clear, accurate, reliable, easy to follow, consistent as to the basis used and be very simple. Good record keeping is vital in regards to meeting the financial commitments of the business and providing information on which decisions for the future planning and evaluation of the business can be based. While the business maintains records to monitor and record its normal business activities, it is also necessary because of keeping record of proposed changes to aid future planning and evaluation.

[rosebud]

Generally action plans are limited to a small and manageable number of goals. This helps to keep the plan realistic and achievable.
For each action you should identify:
•The timeframe and priorities for each action.
•The people who will be responsible for undertaking each action.
•Specific performance indicators to help you determine in the future whether your business has succeeded in achieving the business goal.
Once you have these details identified, you can progress to formulating a series of strategies to be undertaken to achieve the goals of each action item. It often helps to break the various strategies tasks down into simple and specific steps to keep the plan on track and avoid getting overwhelmed or losing control.
An important step is being able to evaluate within a set period of time if the action plan has been a success. Failing to do so could result in a plan that continues on indefinitely without ever actually achieving anything positive for the business.
To evaluate your action plan, go back to the initial objectives you set out and decide if they have worked, not worked or are in the process of being achieved. Be critical of each objectives success or failure in this stage. If your original targets were too optimistic, then you need to admit this so that you will be able to move on.
Sometimes it may become apparent that an action plan has failed to meet its objectives. Therefore, you may need to reassess and redefine your original objectives and strategies to improve their success or abandon the plan and start again at the beginning rather than waste resources on a plan that isn't working.
toolkit.smallbiz.nsw.gov.au/part/1/5/180

[nirmala]

Planning determines where an organization is going over the next year or more, how it's going to get there and how it'll know if it got there or not. The focus of a strategic plan is usually on the entire organization, while the focus of a business plan is usually on a particular product, service or program. There are a variety of perspectives, models and approaches used in strategic planning. The way that a strategic plan is developed depends on the nature of the organization's leadership, culture of the organization, complexity of the organization's environment, size of the organization and expertise of planners.
Innovation is the application of fresh ideas that enable a business to better compete in the future.
An important step is being able to evaluate within a set period of time if the action plan has been a success. Failing to do so could result in a plan that continues on indefinitely without ever actually achieving anything positive for the business.

To evaluate your action plan, go back to the initial objectives you set out and decide if they have worked, not worked or are in the process of being achieved. Be critical of each objectives success or failure in this stage. If your original targets were too optimistic, then you need to admit this so that you will be able to move on.

Sometimes it may become apparent that an action plan has failed to meet its objectives. Therefore, you may need to reassess and redefine your original objectives and strategies to improve their success or abandon the plan and start again at the beginning rather than waste resources on a plan that isn't working

[anilla]

A performance indicator or key performance indicator (KPI) is an industry jargon for a type of performance measurement.[1]. KPIs are commonly used by an organization to evaluate its success or the success of a particular activity in which it is engaged. Sometimes success is defined in terms of making progress toward strategic goals,[2] but often, success is simply the repeated achievement of some level of operational goal (for example, zero defects, 10/10 customer satisfaction, etc.). Accordingly, choosing the right KPIs is reliant upon having a good understanding of what is important to the organization. 'What is important' often depends on the department measuring the performance - the KPIs useful to finance will be quite different to the KPIs assigned to sales, for example. Because of the need to develop a good understanding of what is important, performance indicator selection is often closely associated with the use of various techniques to assess the present state of the business, and its key activities. These assessments often lead to the identification of potential improvements; and as a consequence, performance indicators are routinely associated with 'performance improvement' initiatives. A very common method for choosing KPIs is to apply a management framework such as the balanced scorecard.

en.wikipedia.org/wiki/Performance_indicator

This will help with the future management of the company acting as a reference point for the review of business and company progression.

[poonam]

Planning determines where an organization is going over the next year or more, how it's going to get there and how it'll know if it got there or not. The focus of a strategic plan is usually on the entire organization, while the focus of a business plan is usually on a particular product, service or program. There are a variety of perspectives, models and approaches used in strategic planning. The way that a strategic plan is developed depends on the nature of the organization's leadership, culture of the organization, complexity of the organization's environment, size of the organization and expertise of planners.
Innovation is the application of fresh ideas that enable a business to better compete in the future.
An important step is being able to evaluate within a set period of time if the action plan has been a success. Failing to do so could result in a plan that continues on indefinitely without ever actually achieving anything positive for the business