define BU goals & priorities

2: define BU goals & priorities

With an overall corporate strategy and menu of KPIs, the Board is in a position to invite the various business units (BUs) to outline their role in delivery.

Each BU must be able to explain how it will support the company's aims and how it will quantify its achievements. This means that each Unit should outline its own goals and its strategy to get there. Depending upon business circumstances and the maturity of the Unit, some KPIs from the corporate menu may be more important than others in any year.

The BUs strategy may be based on internal growth, or it may require capital from the Head Office.

An iterative loop clearly will start between the BUs and the corporate goals until acceptable strategies are in place to deliver the company's aims. This will involve the agreement of goals and priorities; some BUs will have to revise their plans as a result.

At the end of this process, the sum total of all the BUs' goals in respect of each KPI should at least match, if not exceed, the respective corporate goal. The corporation will also have a clear picture of which BUs will deliver the bulk of the KPIs and therefore can prioritise its support accordingly.

Step 3 >>

pay for performance: our approach
	1:	define corporate strategy & KPIs
	2:	define BU goals & priorities
	3:	agree targets for performance contract
	4:	define people strategy
	5:	define relationship of pay to performance
	6:	define employee performance goals
	7:	manage individual performance
	8:	pay for performance
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2: define BU goals & priorities

2: define BU goals & priorities