Tuesday, 09 August 2016 17:34

Planning Is Essential

For every business there are four essential types of planning. Each of the planning type’s effect varied aspects of the business directly. Strategic planning impacts the entire organization, functional planning effects divisions and departments, logistical planning is performed by teams and staff. Financial planning impacts department management and resources. Below are definitions for the four planning types:

Strategic Planning – Establish and advance the business culture, understand the business strengths and weaknesses, develop a course of action for the future and provide a means of monitoring progress for success.

Functional Planning – Define how work flows into and through the company in every area of the business. Some examples of this planning are work flow charts, work flow mechanisms, and functional calendars.

Logistical Planning – Sets forth the allocation, coordination and scheduling of the company’s human resources, materials and equipment for their optimal use in executing work daily.

Financial Planning – The capstone for the alignment and supply of resources needed to ac-complish the company objectives, including forecasting and budget planning for the compa-ny, divisions and departments to guide management’s daily activities and spending.

Tip: Determine which and where you are lacking in planning and schedule time to work towards filling these gaps.

Tip: Always have a planning agenda with the process and desired outcomes defined ahead of time.

Tip: Capture all the plans with written details, timelines and individual responsibilities.