Planning and Analysis
Strategic planning and Business Analysis
Strategic planning is an organization‘s process of defining its direction, and making decisions on allocating its resources to pursue that strategy. It may also extend to control mechanisms for guiding the implementation of the strategy.
Strategy has many definitions, but generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the goals will be achieved by the available resources. Strategy can be planned or can be observed as a pattern of activity as the organization adapts to its environment or competition. However the key point is to establish it as a process and not a yearly one-time activity.
The difficulty for many companies is the time involved to have the senior management focus on the development of a Strategic Plan. This is where the Sales Foundations group can assist in developing the process and establishing the guidelines that can be followed and implemented. In addition key reports need to be established to properly monitor and analyze the direction that the strategy is driving the business.
Financial Planning and Analysis
Estimating and matching expenses to revenue (real or anticipated) is important because it helps businesses to determine whether they have enough money to fund operations, expand the business and generate income for themselves. Without a budget or a plan, a business runs the risk of spending more money than it is taking in or, conversely, not spending enough money to grow the business and compete. It is important to develop management reports that identify the key performance indicators (KPI) that provide valuable data and analysis that support the decision-making processes, and assist management on where and when decisions need to be made to guide the success of the organization.