Importance of the business planning process

Read this article to learn about the importance of planning for an organization: All organizations whether it is the government, a private business or small businessman require planning. To turn their dreams of increase in sale, earning high profit and getting success in business all businessmen have to think about future; make predictions and achieve target. To decide what to do, how to do and when to do they do planning.

These systems integrate its proprietary operating system software with hardware supplied by major manufacturers, and are sold to small, medium and large-sized companies for a range of business applications. Its systems are distinguished by a sophisticated operating system, which permits use without trained data-processing personnel.

Our mission is to enhance our customers' business by providing the very highest quality products and services possible. Our customer support strategy is based upon total, no-compromise customer satisfaction and we continually strive to offer a complete package of up-to-date value added solutions to meet our customers' needs.

We value above all our long term customer relations. Intel's original plan, written on the back of a menu view copyis an excellent example of a hard statement: The company will engage in research, development, and manufacture and sales of integrated electronic structures to fulfill the needs of electronic systems manufacturers.

This will include thin films, thick films, semiconductor devices, and A variety of processes will be established, both at a laboratory and production level Products may include dioded transistors Principal customers for these products are expected to be the manufacturers of advanced electronic systems It is anticipated that many of these customers will be located outside California.

If you'd prefer a soft statement, use the Dilbert Mission Statement Generator. When drafting a mission statement, critically examine every noun, adjective and verb to ensure that they are focused, realistic and justified. The Values The next element is to address the Values governing the operation of the business and its conduct or relationships with society at large, customers, suppliers, employees, local community and other stakeholders.

Aside from presumably indicating a necessity to achieve regular profits expressed as return on shareholders' fundsobjectives should relate to the expectations and requirements of all the major stakeholders, including employees, and should reflect the underlying reasons for running the business.

These objectives could cover growth, profitability, technology, offerings and markets. The Strategies Next are the Strategies - the rules and guidelines by which the mission, objectives etc.

They can cover the business as a whole including such matters as diversification, organic growth, or acquisition plans, or they can relate to primary matters in key functional areas, for example: The company's internal cash flow will fund all future growth. New products will progressively replace existing ones over the next 3 years.

All assembly work will be contracted out to lower the company's break-even point. Use SWOTs to help identify possible strategies by building on strengths, resolving weaknesses, exploiting opportunities and avoiding threats.

For further discussion on strategies, refer to the paper on Devising Business Strategies as well as these items below: The Goals Next come the Goals. Goals should be quantifiable, consistent, realistic and achievable. They can relate to factors like market sizes and sharesproducts, finances, profitability, utilization, efficiency.

The Programs The final elements are the Programs which set out the implementation plans for the key strategies. These should cover resources, objectives, time-scales, deadlines, budgets and performance targets. Get Strategic Planning Help: Free Online Strategic Planner for creating a 3-page strategic plan.

It goes without saying that the mission, objectives, values, strategies and goals must be inter-linked and consistent with each other. This is much easier said than done because many businesses which are set up with the clear objective of making their owners wealthy often lack strategies, realistic goals or concise missions."A New and Improved Create A Plan Coming in December " Real Estate Business Planning For Real Estate Professionals.

Create A Plan is the leading real estate business planning system for owners, brokers, managers and agents. Basic Approach to Strategic Planning.

A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition.

Prioritizing Expenditures. Conserving financial resources in a small business is a critical element of success.

The financial planning process helps a business owner identify the most important. Nov 14,  · Business planning is a process that involves the creation of a mission or goal for a company, as well as defining the strategies that will be used to meet those goals or mission. Importance of business ethics is a broad topic.

Business ethics can be denoted as written or unwritten codes of morals and values that governs the company. The importance of strategic planning is in the small number and the long term impact of the decisions embodied in the strategic plan.