Three Business Plans

Although many businesses are tempted to use their business plans solely for this purpose, a good plan should set the course of a business over its lifespan.

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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.

You also need to make it clear what timeframe the business plan covers - this will typically be for the next 12 to 24 months.

The plan needs to include: If your business has grown to encompass a series of departments or divisions, each with its own targets and objectives, you may need to draw up a more sophisticated business plan.

The individual business plans of the departments and separate business units will need to be integrated into a single strategy document for the entire organisation.

This can be a complex exercise but it's vital if each business unit is to tread a consistent path and not conflict with the overall strategy.

However complex it turns out to be, the individual business unit plan needs to be easily understood by the people whose job it is to make it work.

They also need to be clear on how their plan fits in with that of the wider organisation.

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.


Comments Three Business Plans

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