Business Planning

The company business plan follows directly from a well-defined strategic plan. It usually covers a period of one to five years and normally includes a budget for the upcoming year and forecasts for the remaining period. Like strategic planning, it is very important, but rarely does senior management spend enough time on it. Quite often, it is considered a necessary evil and as a means to an end. For example, business plans are often only produced in smaller organizations in order to obtain financing. Although this is an important use of the business plan, its main purpose should be to drive the performance of your business.

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