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Generally, individual unit plans are required to be more specific and precisely defined than the overall business plan.It's important that the objectives set for business units are realistic and deliverable.
A business plan will also ensure that you meet certain key targets and manage business priorities.
You can maximise your chances of success by adopting a continuous and regular business planning cycle that keeps the plan up-to-date.
This should include regular business planning meetings which involve key people from the business.
To find out more, see our guides on how to review your business performance and how to assess your options for growth.
This is not just an issue for large enterprises - many small firms consist of separate business units pursuing different strategies.
To draw up a business plan that marries all the separate units of an organisation requires a degree of co-ordination.
It may seem obvious, but make sure all departments are using the same planning template.
Objectives for individual departments It's important for each department to feel that they are a stakeholder in the plan.
It is a tool that can help you attract new funds or that you can use as a strategy document.
A good business plan reveals how you would use the bank loan or investment you are asking for.