|
|
| www.1001TopWords.com |
|
|
Why Create an Annual Plan?
Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan. They say that "If you don't know where you are going, any road will do." But if you don't know where you are going how do you know when you get there? Or if the road you are on is the right road or the scenic, roundabout route? Planning is essential if you have somewhere to go. If you want to grow your business, if you want to have more free time, if you want to introduce a new product, if you want to enter a new market. You don't need to plan if you have reached your destination, if your business is all you hoped it would be. BUT ? have you considered that the world is changing pretty rapidly these days. Even if you are happy with what you have, your environment is changing, which, if you like it or not, is going to change your business. Therefore, we come back again to the need to plan. What planning is NOT: What is annual planning? A well structured plan will also have the ability to be used as an effective monthly reporting tool by managers. It becomes the common language. Planning is not only for whole businesses but also for business teams, divisions, projects and even individuals. Planning brings about focus and clarity of what is to be achieved. Equally when done effectively, planning brings about alignment between team members and people become accountable for completion of their goals. Planning brings about business success and bottom line results. GRAEME NICHOL, President, Arcturus Advisors. http://www.arcturusadvisors.com/ Graeme Nichol has worked on 4 continents and in 117 unique businesses gaining experience in manufacturing, transportation, agriculture, communications, banking, direct marketing, consumer goods and retail amongst others. He has significant management experience and consulting experience, including Business strategy, project management, change management, big six consulting, team productivity, business productivity and quality improvement, ERP implementations. Arcturus Advisors works with businesses and teams that are struggling to formulate a strategic plan that delivers bottom line results. Using tried and tested planning systems that have achieved results internationally for 20 years we ensure that you transform your business through focus, alignment and accountability.
|
|
|
|
RELATED ARTICLES
Corporate Venturing For Emerging Growth Companies The boom of the dot-com era in 1999 brought the emergence ofcorporate venture capital as a major source of funding to theprivate equity markets. Corporate venture investments peakedin the third quarter of 2000 with 608 deals totaling a combined$4.9 billion. A few of the top corporate venture capital investors of 2000 included Nokia Corporate ($500 million), Oracle Corporation ($400 million), Intel Corporation ($300 million), Sun Microsystems, Inc. ($300 million) and Daimler Chrysler ($100 million). Mining Market Data With a heightened awareness of opportunity, ideas can often be generated by market research. The National Women's Business Center (NWBC) defines market research as "a systematic, objective collection and analysis of data about your target market, competition, and/or environment with the goal being increased understanding. Through the market research process, you can take data?a variety of related or non-related facts?and create useful information to guide your business decisions. During the election we heard about Ohio?s Economy Much of what we heard in the mass media about Ohio and the down and out economy was the fiction of spin-doctors of politics who wanted to oust the current sitting President. On further review and first hand observation and experience Cincinnati has people moving in and economic expansion. It is in a good spot with decent quality of life, plenty of jobs and an expanding set of suburbs. Just cross the river into KY and you get a glimpse of the reality. GOT MEME? How to Attract Your Clients and Customers Attention No "meme" isn't a typo and Got Milk, the more commonly know phrase, is actually a marketing meme. If you've opened up a magazine or watched TV in the last ten years you've seen the fun and memorable Got Milk ad campaign using celebrities with a milk mustache. Chances are it got your attention and you remember the phrase, "Got Milk". Six Key Principles of Corporate Accountability The foundation of any business transaction is the promise of fair deal. In complex organizational relationships, it is all too easy to lose sight of the existence and terms of this deal. On the surface, that employer/employee relationship, called a job, is a fair deal wherein the employer's money is traded for the employee's time and talent. The deeper reality, however, is that the employer is actually trading resources for a set of desirable results, which the employee is expected to deliver. The promise to faithfully deliver as agreed by both parties is the essence of accountability. Attributes of Companies You Dont Want to Buy! There are no "rules of thumb" in the pursuit of companies tobuy. Each purchase opportunity has to stand on its own merits.There are, however, attributes of acquisition candidates thatneed to be defined for what they really are before additional,limited resources are put at risk in a potential deal. It isabsolutely critical for any proactive business buyer tounderstand, consider and deal with specific businesscharacteristics that add unnecessary financial risk to theinvestment opportunity at hand. Expanding your business in a franchise system If you are a successful franchise of a large franchise brand or chain, chances are you will wish to expand. The most important thing to do is make sure you are on the most positive terms with your franchisor. You should tell your franchisor at the earliest point of your plan to expand. It is important that you ask the franchisor for help when you are expanding. Growing your business is not an easy task. It requires systematic checks of your business. The kind of checks your car does electronically such as sensors telling you: Why Do a Business Plan? To Grow (Catapult) Your Business That's Why. Troubled Waters Require Capable Leaders at the Helm Canada's lean leaders need to look beyond the horizon and chart the future Shortening Product Life Cycle! The current state of the available technology at the disposal of designer is the most limiting determinant to what is technically and economically feasible to develop, therefore research into metatechnology such as computer science, whereby interdisciplinary spin off provides advances that both directly increase capabilities, and affects other technologies to dramatically improve system performance, is a necessity, the implication being that despite many of the basic principles being relatively static, the technology used is essentially in a state of constant development. The 7 Critical Steps to Formulating Your Annual Strategic Business Plan Businesses tend to avoid doing their annual business plan thinking that it is an arduous task that does not accomplish much. Formulating your annual plan is, however, critical to your business success and if done correctly should be quick, easy and generate bottom line results. The Importance of Value Mix ( * - the word 'product' can be substituted to mean 'service' too; and vice versa ) Why Six Sigma Will Work in Healthcare If ever there were an industry where we want zero defects, it's healthcare. Patients, medical professionals, and healthcare administrators all want mistakes eliminated and quality and efficiency improved. Although most industries have undergone some type of data-supported, systematic, quality-improvement process, healthcare still has not. Medical and technological advances continue to outpace process and education adjustments. Demand and expectations for medical care are increasing. Inefficiency also leads to(causes, brings about, etc.) overcrowded emergency rooms, customer complaints, and lost revenues. Thinking Like A Farmer One of the difficulties we face in our industrialized age is the fact we've lost our sense of seasons. Unlike the farmer whose priorities change with the seasons, we have become impervious to the natural rhythm of life. As a result, we have our priorities out of balance. Three Steps to Give Your Strategic Plan Traction We all agree Strategic Planning is a critical part of a company's success. All too often, however, strategic plans stall before they ever make it to execution - or they gradually lose momentum. The organization is then left in a vulnerable and uncomfortable position of continuing to go about its business with good intentions but no focused direction or aligned action. Move intention into action using this three step remedy. Strategic Planning and Total Quality Management No matter what product or service you provide you will have to face this issue of quality and systems. Whether it is distribution of services or streamlining of processes in manufacturing your product; you will need to address the issues of total quality management. Yes, you can call it whatever you like; change the name, but no matter what you must consider these issues or you are doomed to failure. I therefore recommend the book; The Tables Have Turned - Its Officially a Sellers Market Private equity firms have raised so much capital over the last 12 months that they are vigorously competing with one another for opportunities to put their money to work. Business owners, who previously would have had to go hat-in-hand to investors, instead find themselves inundated with unsolicited offers for their companies. Companies with solid balance sheets, good management and strong growth prospects are able to tailor deals to their liking, and get solid valuations. Business Results - Four Critical Success Factors Scenario One Getting Started with Succession Planning: Part I GETTING STARTED WITH SUCCESSION PLANNING: PART I Turning On The Lights Fun From The Start
|
| © Athifea Distribution LLC - 2013 |
