Plan, What Plan?

Think | Act

One in a series of Leadership Articles to cause you to think and perhaps to act. Read other articles.

In our last post we talked about the activities that can assist in developing an operational budget plan. Today we look at the types of plans you may be involved with and the reasons why you need to understand this.

What’s the plan?

All planning cycles follow a similar path in terms of content. What varies are the actual forms that these plans take. Some very small companies will only develop an operational business plan. this might be OK but it may also not be enough for other uses and needs of the business. Plans that you, as a small business, might be asked for are; Investment Plans (investors), Strategic Plan (customers), Operational Plan (banker) among others.

Traditional planning requires businesses to look at the following;

In our work we often assist companies in thinking through the above topics. The actual business budget will monetize the last three items on the list. It attempts to address the question of;

what will be financially achieved if the the Key Results Indicators, Objectives, and Actions will be quantified and are incorporated within the budget plan?

Other sources

A recent podcast by Ian Portsmouth of Profit Magazine covered a number of these issues via interviews with various professionals in this field.

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