Business Planning

Essay by amad786University, Bachelor'sA+, November 2002

download word file, 3 pages 3.7

In search of an article on planning, it was very interesting and educational to come across an article that read; Planning is more than the process of analysis and objective setting that occurs once a year. Once the Business Plan has been created and communicated, implementation and continued review should follow throughout the year. The Business Plan is built during the planning season by completing a thorough business assessment, making operating decisions, and building operating plans and making the financial decisions that will allow the Business Plan to succeed. The remaining part of the year should be devoted to implementation, continuous measurement and review and, if needed, corrective action planning (Clark, 2001).

As a businessman, it would be hard to change or disagree with the contents of this article. It is indeed a fact, in order to stay, and keep a business in a profitable mode; every business should have a business plan.

Planning is defined in a book called "Management" Leading People and Organizations in the 21st Century, by Gary Dessler in chapter-5 page-130 second paragraph, as "the process of establishing objectives and courses of action, prior to taking action (Dessler, 2001)." Planning does not only establish objectives and courses of action, it gives one the luxury of deciding ahead of time.

Plans are methods formulated for achieving a desired result (Dessler, 2001). According to the article by Clark, Jacquel K. The Business Plan is built during the planning season by completing a thorough business assessment. For example, in our company we lost a lot of profits in the year 2001. At the beginning of year 2002, we started to do a thorough business assessment in an effort to recover loses from the year 2001 and make profit for the year 2002. This was our planning season. The next...