PFMM: Management And Leadership Principles - NAMIC
PFMM: Management and Leadership Principles Wednesday, September 25 2013, 1:00 p.m. Jack Randall, CIC, PCLA, PFMM Executive Vice President Randall Resources International Cameron, Mo. Jack C. Randall is a visionary leadership specialist who helps companies facing tough decisions achieve their goals of success with clarity, direction, and confidence. As a sought-after author, national speaker, consultant, and executive coach, Jack works with individual leaders as well as a wide range of corporate and nonprofit organizations. His clients include both United States- and internationally based companies. Jack has more than 34 years of marketing and uppermanagement experience, which includes the reinsurance, insurance, and agri-business industries. In addition to his membership in the National Speakers Association and Global Speakers Federation, Jack’s designations include Certified Insurance Counselor, Property Claims Law Associate, and Professional Farm Mutual Manager. Jack’s passion is to challenge people and organizations to fully discover, understand, and actively pursue God’s unique calling for them and their individual roles as leaders. His hobbies include restoring old cars, tractors, and motorcycles. Jack’s latest book is titled “Man In The Windmill : Perceptions, Choices, and Pursuing Your Calling.”
Steering Your Mutual Towards Success or Just Out for a Joy Ride? Jack Randall, CIC, PCLA, PFMM Randall Resources International, LLC Cameron, MO Copyright 2013 – All rights reserved MAN IN THE WINDMILL 2013 Windmill leadership Windmill Leadership principles Which way should we go next? Opportunity? or Nightmare? 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 1 of 73
Which way should we go next? Opportunity? or Nightmare? Are we travelling with a purpose? 2013 Windmill leadership Bus -Your Mutual Driver -Manager Passengers -Clients Key -Attitude Fuel -Surplus Condition/Paint -Image Service Provided -Mission Windshield -Vision 2-Way Radio -Board Communications Dispatch Office -Board Room Roles, duties, purpose, goals must all be 2013 clear! Windmill leadership 2013 NAMIC Annual Convention - Randall Page 2 of 73
Session Objectives: 1. Understand the principles associated with strategic planning 2. Learn how to develop and write a company mission statement 3. Understand the relationship between the mission statement and planning purpose 4. Understand the strategic planning process and who should be involved 5. Know what should be included in a one, three, and five-year business/strategic plan 6. Know who should be responsible for implementing the plan and monitoring progress 7. Determine the appropriate means of reporting the progress to the directors, management and staff 8. Understand the importance of the strategic plan in relation to underwriting, claims, marketing, and technology department goals and guidelines 2013 Windmill leadership Eating the Elephant Today 1. The Case for Strategic Planning 2. Why the URGENCY? 3. What Exactly is Strategic Planning? 4. What is Needed to Formulate a Strategic Business Plan? 5. Compiling, Implementing, Monitoring 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 3 of 73
Section 1: The Case for Strategic Planning Is your future brighter than your past? 2013 Windmill leadership How many have a Strategic Plan for your mutual? In WRITING? And, one for you personally? 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 4 of 73
Discussion Question: Why are some mutuals successful? 2013 Windmill leadership Question 1 Discussion Question: Why do mutuals fail? A. Lack of Focus B. Lack of Direction C. Lack of Action Question 2 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 5 of 73
Step behind the curtain to examine a secret Successful farm mutuals simply DO NOT get their success from pure, dumb luck. They plan and act for success on purpose! Analogy 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 6 of 73
How many parts of a windmill can you name? Question 3 2013 Windmill leadership Strategic Planning provides the Focus and Direction 2008 Randall Resources International 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 7 of 73
“How do we identify an Opportunity? We can create our own ‘directional system’ to guide us called Strategic Planning. It is our role to synthesize our own ‘luck’.” - Jack Randall Windmill Leadership Principles “Luck is what happens when preparation meets opportunity.” -Seneca (Roman philosopher) 2008 Randall Resources International 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 8 of 73
Group Activity: List the benefits of Strategic Business Planning: Provide direction Prioritize activities Denote responsibilities Provide timelines Promote communication Promote ownership Identify opportunities NOT to pursue Identify your competitive advantage Allocate resource Build team spirit Benchmarks Boundaries 2013 Windmill leadership Discussion Question: Who benefits from your mutual’s Strategic Business Planning? - Policyholder - Company - Agent - Manager - Board - Staff Question 4 2013 NAMIC Annual Convention - Randall - D&O Provider - Reinsurer - Insurance Dept - State Assoc. - Industry - Everyone! 2013 Windmill leadership Page 9 of 73
Experience has shown . “You’ve got to know you before you can know who.” - Jack Randall Windmill Leadership Principles 2013 Windmill leadership Discussion Question:: Your top 5 reasons farm mutuals don’t utilize Strategic Planning: 1. 2. 3. 4. 5. Question 5 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 10 of 73
My top 5 reasons farm mutuals don’t utilize Strategic Planning: 1. Never had to do it before 2. Lack of understanding 3. Busy-ness (or laziness) 4. Fear 5. Pride 2013 Windmill leadership 1971 What have you been going by since then? 2013 NAMIC Annual Convention - Randall Page 11 of 73
Section 2: Why the URGENCY? Is your future brighter than your past? 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 12 of 73
Statistics!: Recent MAMIC stats per Ron Borders: 9Missouri FM’s 25 yrs ago 140 9Missouri FM’s now 82 (41.5% less!) 9Policy count stagnant 9True growth only from only a few FM’s 9Many financially struggling ---------------------------No new mutuals being formed! 2013 Windmill Leadership Activity - Discussion Question: Why is the number of farm mutuals decreasing nationwide? Question 6 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 13 of 73
We are in a war for our existence! Where do the greatest threats to a farm mutual come from? From outside sources? From within? 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 14 of 73
Our greatest threats? From within! “Nobody makes a greater mistake than he who does nothing because he could only do a little.” - Edmund Burke 2013 Windmill Leadership Defining Question: Is your future brighter than your past. - for your mutual? - for you personally? Question 7 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 15 of 73
Who is responsible to determine the future DIRECTION of a mutual? The Board 2013 Windmill leadership Who is primarily responsible to run the day to day OPERATION of a mutual? The Manager 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 16 of 73
Roles & duties must be known & followed! Know & respect the roles! Used with permission: Stoesz, Edgar. Doing GoodResources even Better. 2008 Randall International 2013 NAMIC Annual Convention - Randall Page 17 of 73
Group Activity: Writing exercise: Write your name Now write your name using your other hand Describe how you felt 2013 Windmill leadership We need to get comfortable “writing with the other hand”! Our future success will depend on: 1. Our Ability to Learn 2. Our Ability to Change 3. Our Ability to Accept Uncertainty - Jim Harris “The Learning Paradox” 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 18 of 73
What do you “see” in the following Farm Mutuals?. 2013 NAMIC Annual Convention - Randall Page 19 of 73
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Section 3: What Exactly Is Strategic Planning? Is your future brighter than your past? 2013 Windmill leadership Strategic Planning: -Webster’s dictionary definition: Plan: (n) “ a method of acting developed in advance.” Strategic: (adj) “.characterized by.strategy. Mil: intended to make the enemy incapable of making war a strategic bombing mission.” 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 24 of 73
Strategic Planning: -Jack’s definition: “A written game plan to give focus and direction.” Donald Trump’s Apprentice question: “Are you playing to win?” 2013 Windmill leadership Principles of Strategic Planning: 1. Get input and agreement 2. Plan the details of “attack” in advance 3. Document it in writing 4. Implement 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 25 of 73
Types of Strategic Planning 9Business Planning 9Action Planning 9Succession Planning 9Disaster Recovery Planning 9Marketing Planning 9Re-underwriting Planning 9Etc. 2013 Windmill leadership Understand How Human Nature and the Human Mind Work . 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 26 of 73
Do these words go together? 2010 Randall Resources International Great expectations! Do these words go together? But did our expectations match? 2010 Randall Resources International 2013 NAMIC Annual Convention - Randall Page 27 of 73
Great Expectations! But did our expectations match? 2013 NAMIC Annual Convention - Randall Page 28 of 73
Great Expectations! But do your expectations match that of others in your mutual? 2013 NAMIC Annual Convention - Randall Page 29 of 73
In-Person Communication Phone Words 7% 14% Vocal Tone 38% 86% Email 100% Body Language 55% Randall Resources Int’l Source: Dr. Albert Mehrabian Effective communication? Painting clear pictures! 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 30 of 73
Strategic Planning helps to assure everyone’s perception and understanding is ALIGNED. 2013 Windmill leadership Strategic Planning It’s about painting a picture in the form of a written plan, so everyone sees the same thing! 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 31 of 73
The critical importance of a Company’s Mission and Vision: - MISSION sets the Direction & Focus. - VISION should provide a clearly defined “picture” of the ultimate results & details. Clear directions are Easy to follow! 2013 Windmill leadership “You’ve got to know you before you can know who.” - Jack Randall Windmill Leadership Principles 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 32 of 73
Myths about Strategic Planning: Myths Wait for “right” time “Clean” process One right way Order un-important Must be trained first Long / complicated Too costly Unwritten plans fine A failed plan “terrible” A facilitator doesn’t help Truths Start ASAP “Messy” process Lots of ways Order IS important Learn as you go It is what you make it It is what you make it Written plans are best Be firm, yet flexible A facilitator can help a lot 2013 Windmill leadership Question: Talking about specific goals . What is a Benchmark? Question 8 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 33 of 73
A measurable, agreed upon standard 2013 Windmill leadership What is a “Benchmark” in your Plan? A measurable, agreed upon standard 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 34 of 73
So what exactly is BENCHMARKING? Setting certain standards that everyone agrees must be met. 2013 Windmill leadership S.M.A.R.T acronym: Specific Measurable Attainable Realistic Time bound 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 35 of 73
How long a period might you wish to benchmark? - It depends 2013 Windmill leadership “If you can’t measure it, you can’t manage it!” - Anonymous 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 36 of 73
Important! All other departmental goals for underwriting, claims, marketing, and technology MUST FIT into the overall company Strategic Business Plan or they must be revised until they do! 2013 Windmill leadership Overall Strategic Plan Financial Plan Marketing Plan Claims & Underwriting Plan Financial Action Plan Marketing Action Plan Claims & Underwriting Action Plan 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 37 of 73
Planning also assists in . 9Succession Planning 9Staff and Board Evaluations 9Manager reviews 9Staff reviews 9Etc. “How did we do in working toward the goal?” 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 38 of 73
Section 4: What is Needed to Formulate a Strategic Business Plan? Is your future brighter than your past? 2013 Windmill leadership Question: Who should be involved in the planning process? Management and Board (at a minimum) Question 9 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 39 of 73
Question: What are possible benefits of using an outside facilitator? 9- Fresh perspective 9- Can raise tough questions 9- Tools, insights, strategies 9- Allows mgmt. to give input. Question 10 2013 Windmill leadership Great expectations! But did our expectations match? 2013 NAMIC Annual Convention - Randall Page 40 of 73
Activity: When is the ideal time to plan? 2013 Windmill leadership Time scope of plan? 9Five-Year Plan 9Annual Action Plan So, what about a 3-Year or 10-Year plan? 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 41 of 73
How often refer to? It depends, but at least monthly How often to re-draft? -Five Year Plan Every 5 yrs -Annual Action Plan Annually 2013 Windmill leadership Planning is a lot like baking Order is Critical! 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 42 of 73
The Essential Ingredients: A. Statistical Data Reports - Standardized - Run annually - Purpose: Assists in setting financial benchmarks Examples: 5-Year Financial Trend Analysis 2013 Windmill leadership Five Year Financial Trend Analysis Property Study A Part II Company Manager: Address: Reinsurance Program: County: Phone # YEAR A B C GRIF % INC GRIF POLICY COUNT D % POLICY COUNT CHANGE 5.3% 1,886 -3.2% F G H I PREM INCOME % INC PREM AVG RATE/M INVSTMT INCOME % INV YIELD 7.38 82,000 4.7% 2,757 1,737,994 1,441,112 696,000 -.7% 6.96 92,500 4.8% 10,892 1,937,575 1,655,923 K L M N % INC SPLS SPLS/M O NET PREM/ SPLS 15.17 .4:1 14.9% 16.56 .4:1 95,000,000 2005 100,000,000 2006 101,222,333 1.2% 1,800 -4.6% 646,000 -7.2% 6.38 70,000 3.5% -65,354 2,014,308 1,777,618 7.3% 17.56 .3:1 2007 99,000,000 -1.0% 1,720 -8.8% 643,000 -7.6% 6.49 105,000 4.4% 78,186 2,371,750 2,074,035 25.2% 20.95 .3:1 2008 98,000,000 -3.2% 1,633 -9.3% 694,000 7.4% 7.08 135,000 5.4% 45,634 2,503,902 2,255,618 26.9% 23.02 .3:1 P Q R S T U V W X Y Z AA BB CC DD LOSS/M % LOSS TO PREM COMM EXP % COMM TO PREM OPER EXP % OPER TO PREM REINS PREM % REINS TO PREM REINS RECOV % REINS RECOV NET PREM YEAR 701,000 J OTHER ADMITTED SURPLUS INCOME ASSETS 2004 PAID LOSS 1,949 E EE % % NET LOSS U/W U/W GAIN NET TO COMBND LOSSES (LOSS) NET PREM RATIO 2004 219,177 2.31 31.3% 149,792 21.4% 163,835 23.4% 85,396 12.2% 39,408 46.1% 615,605 179,769 29.2% 122,209 82.6% 2005 283,780 2.84 40.8% 155,065 22.3% 179,516 25.8% 80,026 11.5% 80,442 100.5% 615,974 203,338 33.0% 78,055 88.8% 2006 230,972 2.28 35.8% 145,834 22.6% 186,343 28.8% 84,658 13.1% 41,768 49.3% 561,342 189,204 33.7% 39,961 93.8% 2007 206,736 2.09 32.2% 147,060 22.9% 184,286 28.7% 82,061 12.8% 113,199 137.9% 560,939 93,537 16.7% 136,056 78.8% 2008 313,584 3.20 45.2% 147,778 21.3% 197,522 28.5% 83,563 12.0% 26,293 31.5% 610,437 287,291 47.1% (22,154) 103.2% Footnotes: 2013 NAMIC Annual Convention - Randall Page 43 of 73
YEAR P Q R S T U V PAID LOSS LOSS/M % LOSS TO PREM COMM EXP % COMM TO PREM OPER EXP % OPER TO PREM 2004 219,177 2.31 31.3% 149,792 21.4% 163,835 23.4% 2005 283,780 2.84 40.8% 155,065 22.3% 179,516 25.8% 2006 230,972 2.28 35.8% 145,834 22.6% 186,343 28.8% 2007 206,736 2.09 32.2% 147,060 22.9% 184,286 28.7% 2008 313,584 3.20 45.2% 147,778 21.3% 197,522 28.5% The Essential Ingredients : A. Statistical Data Reports - Standardized - Run annually - Purpose: Assist in setting financial benchmarks Examples: 5-Year Financial Trend Analysis Loss Totals and Ratios Fire / Wind / Liability (1yr / 10yr) Profit by L.O.B. by Agent / Total (1yr / 10 yr) Growth by L.O.B. by Agent / Total (1yr / 5yr / 10yr) Risk Profiles (Dwelling & Outbuildings) (annual) Rate Change History (10yr). 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 44 of 73
The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools Purpose: Helps to prioritize areas needing attn. Examples: - “S.W.O.T. Plus 3” Analysis 2013 Windmill leadership Your S.W.O.T. 3 Analysis 1. What would success look like to your mutual? 2. Which accomplishments are you most proud of? 3. What traits of your mutual concern you the most? Strengths Weaknesses Opportunities Threats (Simply a self-snapshot / variety of purposes / update as needed) 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 45 of 73
The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools Purpose: Helps to prioritize areas needing attn. Examples: - “S.W.O.T. Plus 3” Analysis - “FITS” Analysis 2013 Windmill leadership ‘Fits’ exercise (Source: LeBlanc, Mark) Horrible – Wrong – Bad Good – Right – Perfect 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 46 of 73
The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools Purpose: Helps to prioritize areas needing attn. Examples: - “S.W.O.T. Plus 3” Analysis - “FITS” Analysis - Your “Hedgehog Concept” (Jim Collins “Good to Great”) (Helps you focus on who your company truly is). 2013 Windmill leadership Construct Your Hedgehog Concept What you are deeply passionate about? What you can be the best in the world at? Gives You Focus! What drives your economic Engine? 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 47 of 73
Question: What is your Mutual’s “Hedgehog Concept”? Question 11 2013 Windmill leadership The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools C. Company Articles, By-Laws, State Chapter code Review as needed Purpose: Helps identify legal parameters 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 48 of 73
The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools C. Company Articles, By-Laws, State Chapter code D. Company Mission Statement 2013 Windmill leadership Question: What is your Mutual’s Mission Statement? Question 12 2013 NAMIC Annual Convention - Randall 2013 Windmill leadership Page 49 of 73
Company Mission Statement Definition: One to Three carefully crafted sentences concisely stating your company mission in writing to form a picture. It must encapsulate the: - “WHAT” and “FOR WHO”s that define the core reason for your company’s existence. - “WHY” and “WHERE” may also be important to list. 2013 Windmill Leadership Mission Statement Examples: MAMIC (Missouri Association) “.To support our membership in successfully meeting the changing needs of the public in a dynamic financial services environment. Our success is measured by the financial stability and perpetuation of our membership.” Randall Resources “To challenge people and organizations to fully discover, understand, and actively pursue God’s unique calling for them and their individual role as leaders.” 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 50 of 73
Your Company Mission Statement WRITTEN Why? Purpose: It guides the reader back to the WHAT, WHY, WHERE, and for WHO’s that define your FM. 2013 Windmill leadership Your Company Mission Statement How to write one? 1. Think short, easy to understand, to the point 2. Use concise, careful wording 3. Think your mission broadly, not just current function (Example: Manufacture ice boxes vs. keep food cold) 4. Get board ratification 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 51 of 73
Your Company Mission Statement 9Rarely if ever change or modify 9Distribute widely. Important: The Mission Statement forms the foundation for the entire planning process. You cannot do effective planning of any type without your company Mission Statement in place. 2013 NAMIC Annual Convention - Randall Page 52 of 73
Your “Slogan” or “Positioning Statement” is NOT your Mission Statement Examples: Nike – “Just Do It!” Randall Resources – “Is Your Future Brighter Than You Past?” 2013 Windmill leadership Confusion Many mutuals want to get lucky and stumble across their NICHE or their one big opportunity! Niche: “ a place, employment, status, or activity for which a person or thing is best fitted finally found her niche .” 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 53 of 73
Key Concept - Look inside. A Niche is really a showcase of who you really are! - Before you can uncover your niche, you first have to know you! 2013 Windmill leadership CAUTION! It is highly advisable NOT to use “low price” or “lowest cost” as your niche! Why not? 2013 NAMIC Annual Convention - Randall Page 54 of 73
Randall Resources International Niche -Developing Effective Leaders Overall Mission Statement - “Our purpose is to challenge people and organizations to fully discover, understand, and actively pursue God’s unique calling for them and their individual roles as leaders.” 2013 Windmill leadership The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools C. Company Articles, By-Laws, State Chapter code D. Company Mission Statement E. Company 5-Year Vision 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 55 of 73
Question: What is your definition of a “Vision”? Where does a “Vision” for your mutual come from? a. From the Manager? b. From the Board? c. Both? c. Neither? Is it hammered by creation or does it just come to you? Is it really that important? 2013 Windmill leadership Question 13 Company Vision Definition: “A detailed story of what your future company will look like in 5 years, but set in present tense as if you were describing it existing right now.” WRITTEN Purpose: It “paints a written picture” so everyone can “see” the same future goal. Update as needed / recast every 5 yrs 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 56 of 73
Company Vision “Where there is no vision, the people perish: But he that keepeth the law, happy is he.” Proverbs 29:18 2013 Windmill Leadership Company Vision To get started, provide a skeleton of questions for participants. Examples: 1. Company target financial benchmarks 2. Company size 3. Writing Territory / number of agents 4. Lines of business offered 5. Etc. Assemble as a story When done, distribute with discretion. Why? 2013 Windmill Leadership 2013 NAMIC Annual Convention - Randall Page 57 of 73
The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools C. Company Articles, By-Laws, State Chapter code D. Company Mission Statement E. Company 5-Year Vision F. Business Plan (5-Yr) w/ Annual Action Plan 2013 Windmill leadership Business Plan (5-Year) w/ Annual Action Plan The term “Business Plan” as used here can be defined as: “ .your Strategic Plan distilled into a smaller, concise master document noting the Goals, Objectives, Actions, and Tasks.” 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 58 of 73
G.O.A.T. Acronym - Darwin Copeman G - Goal O - Objectives (3-5 5-yr specific, financial benchmarks) A - Actions (Annual Actions to support Objectives) T – Tasks (Small steps to accomplish Actions) 2013 Windmill Leadership Business Plan (5-Year) w/ Annual Action Plan 9Written and in automated format to allow for changes & updates. 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 59 of 73
Version Updated: 2/11/08 Embraced by Mgmt. 2/11/08 2008 Business Plan for Randall Resources International OUR GOAL for 2008: Establish an Effective, Profitable Business TO EQUIP LEADERS! (These items in BLUE help to clarify the GOAL. If we do these things, we will achieve our GOAL.) OBJECTIVES OBJECTIVE #1 Establish Income Parameters/Guidelines and Monitor Progress Credit: Connie Costigan OBJECTIVE #2 Establish a Budget / Manage Operating Costs OBJECTIVE #3 Establish an Effective Marketing Program OBJECTIVE #4 Begin to Establish Opportunities for Residual Income Streams (These items in YELLOW assist in broadly outlining each ACTION to be taken to support the OBJECTIVES.) ACTIONS (These items noted in GREEN are the specific things needing to be done to reach our GOAL!) TASKS Primary Task Description OwnerObjectiveStart Date Completion Percent Date Comments Completed Establish Realistic Income Goals Discuss and set J/K 1 03/01/08 J 1 03/01/08 J/K 1 03/01/08 J 1 03/01/08 Build a quicken report to show past month and also year-to-date income K 1 03/15/08 Monitor past month and also YTD J 1 5th of ea mo J/K 2 03/15/08 K 2 03/15/08 Build a quicken report to show past month and also year-to-date expenses K 2 03/15/08 Monitor past month and also YTD J 2 5th of ea mo K 2 03/15/08 Document in writing Study What Types of Income Making Activities Need To Be Done and When Complete a study and document Complete a Pro-forma to prove numbers against expenses Monitor Income Progress Establish a Realistic Budget Prepare a budget Document in writing Monitor Expenses Prepare a Calendar for 2008 Noting Personal Holidays and Research Time Put it in writing 2013 Windmill leadership 2008 Business Plan for Randall Resources International OUR GOAL for 2008: Establish an Effective, Profitable Business TO EQUIP LEADERS! OBJECTIVES (These items in BLUE help to clarify the GOAL. If we do these things, we will achieve our GOAL.) OBJECTIVE #1 Establish Income Parameters/Guidelines and Monitor Progress OBJECTIVE #2 Establish a Budget / Manage Operating Costs OBJECTIVE #3 Establish an Effective Marketing Program OBJECTIVE #4 Begin to Establish Opportunities for Residual Income Streams ACTIONS (These items in YELLOW assist in broadly outlining each ACTION to be taken to support the OBJECTIVES.) TASKS (These items noted in GREEN are the specific things needing to be done to reach our GOAL!) Primary Task Description Completion OwnerObjectiveStart Date Date Establish Realistic Income Goals Discuss and set Document in writing J/K 1 03/01/08 J 1 03/01/08 J/K 1 03/01/08 J 1 03/01/08 Study What Types of Income Making Activities Need To Be Done and When Complete a study and document Complete a Pro-forma to prove numbers against expenses 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 60 of 73
Business Plan (5-Year) w/ Annual Action Plan 9Purpose and key role of this tool: To provide a handy, concise reference. Must show ownership & timelines! 9Update annually, but refer to monthly & adjust as needed. 2013 Windmill leadership Business Plan (5-Year) w/ Annual Action Plan Whose primary responsibility is it to report on / refer to this: -at staff and board meetings? -for ownership of documenting changes / updates? IMPORTANT: Consider this document as your Strategic Plan distilled into this one nutshell reference tool. All other “plans” must tie into this master document. 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 61 of 73
S.M.A.R.T acronym: Specific Measurable Attainable Realistic Time bound 2013 Windmill Leadership The Essential Ingredients : A. Statistical Data Reports B. Additional Self-Analysis Tools C. Company Articles, By-Laws, State Chapter code D. Company Mission Statement E. Company 5-Year Vision F. Business Plan (5-Yr) w/ Annual Action Plan G. Pro-forma 2013 Windmill leadership 2013 NAMIC Annual Convention - Randall Page 62 of 73
Pro-forma Definition: A financial projection showing that the “math” of your plan works. 2013 Windmill leadership Pro-forma Name: FARM MUTUAL PRO-FORMA 2003 Amount 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 INCOME Prem/Assessment Written-Less Refunds Fire Windstorm Liability Other 0 Less Pd for PR or QS Reinsurance Fire Windstorm Liability Other TOTAL NET WRITTEN PREMIUM Plus UE prem 12-31 prior yr Less UE prem 12-31 current yr Equals EA RNED P REM CURRENT YR Investment Income (less Inv Exp) Commissions Rec'd from Reinsurer Other Income TOTAL INCOME % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 2004 Amount 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! Compiled: 2005 Forecast Amount % 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 2005 Amount 0 #DIV/0! #DIV/0! #DIV/0! #DIV/0! % #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0 0 0 0 0 0 0 0 0 0 0 0 2013 Windmill leadership 2013 NAMIC Annual Convention -
PFMM: Management and Leadership Principles . Wednesday, September 25 2013, 1:00 p.m. Jack Randall, CIC, PCLA, PFMM . Executive Vice President . Randall Resources International . Cameron, Mo. Jack C. Randall is a visionary leadership specialist who helps companies facing tough decisions achieve their goals of success with clarity, direction, and .
Leadership, Servant Leadership, Situational Leadership, Authoritarian Leadership, and Moral Leadership. Although each of these styles had some very positive characteristics, it was found that Spiritual Leadership allowed for various leadership approaches to be applied as needed and these approaches were designed
3.2.1 Servant leadership approach 19 3.2.2 Transformational leadership 22 3.3 Servant leadership and Islamic leadership: 23 3.4 Challenges that current Muslim leaders face: 25 4 RESULTS 26 4.1 Theory findings 26 4.2 Interviews findings 32 4.2.1 Interviewees' leadership traits and principles: 35 4.2.2 The moral base of Islamic leadership 38
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automotive EMC/EMI requirements Introduction The automotive industry and individual automobile manu-facturers must meet a variety of electromagnetic compati-bility (EMC) requirements. For example, two requirements are to ensure that electronic systems do not emit exces-sive electromagnetic interference (EMI) or noise, and to be immune to the noise emitted by other systems. This article .
