01/01/2008 | Planning for your organisation

When you’re running an organisation, it’s easy to get bogged down in day-to-day problems and forget the bigger picture. However, successful managers invest time to create and manage budgets, prepare and review business plans and regularly monitor finance and performance. Structured planning can make all the difference to the growth of your organisation. It will enable you to concentrate resources on improving profits, reducing costs and increasing returns on investment. The main aim of your annual business plan is to set out the strategy and action plan for your organisation. This should include a clear financial picture of where you stand - and expect to stand - over the coming year. Your annual business plan should include: • An outline of changes that you want to make to your organisation • Potential changes to your market, customers and competition • Your objectives and goals for the year • Your key performance indicators • Any issues or problems • Any operational changes • Information about your management and people • Your financial performance and forecasts • Details of investment in the business Back to news archive