Transcript from the "Business Operating Frameworks" Lesson
>> So now we're gonna take several steps back, we're gonna talk about operating frameworks within organizations. Because this has a direct impact on your content, it's a real trickle down effect. So we're just gonna have a little lesson on strategy, okay? All right, so, I don't know if you guys recognize this, this is a pretty straightforward business operating framework, right?
[00:00:24] I will say that maybe 10% of organizations that I work with actually have things like this in place, that are accessible or up to date. But I wanna walk through what these words actually mean, because I think that they can have an impact on how projects are framed up.
[00:00:41] On how teams function together, how teams don't function together, and potentially even this is a framework I have seen people using their own careers in personal lives. So, okay? All right, so, when we talk about a vision, we are talking about an ideal future state. So, a vision might be a safer world for all, or safer homes for all.
[00:01:07] A vision might be our products in every house, I mean, it is an ideal future state, okay? Emission is what we exist to do, so if I am a, I actually think I have an example here. So, but if I am a Home Security Product Manufacturer, what we exist to do is we exist to keep people safe with home security devices.
[00:01:37] That's why we exist, okay? Make sense? Okay. Goal is a long term measurable outcome, this is not like some clicks on a tweet, or even like number of followers. This is a long term measurable outcome that has a direct impact on the success of our organization. Or it might be a direct impact on the success of our longer-term project, for example, okay?
[00:02:07] So our goal is not get 50 subscribers for our newsletter, our goal is raise our revenue by 5% or decrease content operating expenses by 5%. Or achieve user satisfaction rates of 95%, for example, okay? So this isn't anything that we can accomplish in the next three weeks, this is a longer-term thing.
[00:02:33] Okay, our strategy is what we decide upon as a key initiative to create meaningful change, all right? You might have multiple strategies within a project or an organization, but it has to be a larger initiative, that is meant to get us closer to fulfilling our goal, okay? An objective is a shorter term measurable outcome, a lot of times objectives are what frame our prior shorter term projects, or our collection of projects.
[00:03:06] So, this is a shorter-term, a longer-term strategy might be to move CMSs, right? Replaced the CMS over the period of 18 months, for example. A shorter-term outcome would be vendor selection, for example, okay? Makes sense? Which is still gonna take us three to four months. A tactic is the activities that we engage in to achieve our objectives, all right?
[00:03:32] So a tactic might be to increase revenue by 5%, one of our strategies might be to conduct. I have examples, [LAUGH] I'm sorry, I'm blinking, but a tactic might be to post blog posts every other week, for example, that's a tactic that's not a strategy, okay? And then a target is whatever your metric for success is, you'll usually have multiple targets.