Annual Business Planning

Annual Business Planning-30
The annual planning process is a great time to make these crucial decisions and an annual plan template will focus the organization on the relevant facts and issues for analysis and action.A building is only as strong as the foundation on which it is built, and the same can be said of the annual plan and corresponding annual budget.

The annual planning process is a great time to make these crucial decisions and an annual plan template will focus the organization on the relevant facts and issues for analysis and action.A building is only as strong as the foundation on which it is built, and the same can be said of the annual plan and corresponding annual budget.

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The annual budget process tends to focus on the short term and, by nature, tends to retard growth and innovation.

As a result, it promotes extrapolations of the past that is diametrically opposed to innovation.

Fiscal irresponsibility is not being promoted here.

Removing blinders and constraints to create new revenue streams that allow budget increases or reallocations is being touted.

The net result is that the analysis is thin and frequently the “planning process” degrades into “tweaking” last year’s plan.

This is a complacent approach that keeps an organization riding along an existing curve but does not allow an organization to up its game and jump to a higher plateau or curve.

Specifically, the key areas to cover are: • The Market – describe the market and the changes in the market over the past year.

• The Value – what are the prevailing business problems, what do customers believe are the relevant use cases and what is the best technological solution for those business problems?

• Strengths – determine the characteristics of the business or project that give it an advantage over others.

• Weaknesses – are there characteristics that place the team at a disadvantage relative to others?

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