Monthly Business Review
The Monthly Business Review is an opportunity to bring the key management team members together to discuss what is their most important topic. How is the company performing against the expectations of the Strategic Plan and the annual Operating Plan? How are we doing, what needs to change and when? This meeting provides management the forum to engage in what we call “priceless conversations” about company performance and allows the team to reach consensus on the most critical business issues impacting the company.
A sample agenda is as follows:
Other functional areas my participate, in the meeting, based on their impact on current or future business performance. Also, it is helpful to send out materials, to be presented, ahead of the meeting to allow the participants to prepare meaningful responses.
The meeting is most productive when the leadership team creates a supportive environment for the team to openly discuss performance, constructively address issues and opportunities. When performance is not in line with the plan, it is important to get to a true understanding of underlying root causes, whether it is people, systems, processes, and to identify solutions which address these issues. By having open conversations about business performance and actions required to address variances, the leadership team reaches consensus on the critical issues, actions required and builds trust.