ANNUAL BUSINESS PLANNING ;

" THESE STRATEGIC ARE DIRECTLY CONCERNED WITH THE FUTURE PLANS OF THE PROFIT CENTERS WHICH ARE DIVISIONALISED IN LARGE ENTERPRIES."

KEYWORD  ; STRATEGIC AT CORPORATE LEVEL INCLUDE - WHAT PRODUCT PORTFOLIOS TO BUILD TO EXPAND AND TO CONSOLIDATE SIMULTANEOUSLY WITH THE BUSINESSES, A FIRM IS ABOUT TO ABANDON OR DIVEST.

GRAND OR CORPORATE STRATEGIES FORM THE BASIC FOR DRAWING UP ANNUAL CORPORATE PLANS,THEY TRANSLATE LONG-TERM ASPIRATION INTO ANNUAL BUDGETS,THESE ARE VITAL LINKS IN LAUNCHING SUCCESSFUL IMPLEMENTATION OF OVERALL STRATEGIEC.THESE ANNUAL PLANS MUST HAVE THE FOLLOWING FEATURES IF THEY HAVE TO SUBSERVE THEIR ROLE EFFECTIVELY.
QUALITY OF ANNUAL PLANS.
TO ENSURE THEIR EFFECTIVENESS, ANNURAL PLANS MUST HAVE.
1, CLEAR LINKAGE WITH THE LONG-TERM OBJECTIVE ; ANNURAL AND LONG-TERM OBJECTIVE ARE DISTINGUISHED FROM EACH OTHER IN RESPECT OF THE FOLLOWING DIMENSIONS,
(A) TIME FRAME ; LONG -TERM OBJECTIVE MAY EXTEND UPTO 5 YEARS OR MORE WHEREAS THE ANNURAL PLANS ARE MORE IN LINE WITH YEARLY TARGETS.
(B) FOCUS ; LONG TERM OBJECTIIVE AIM AT POSITIONING THE FIRM IN COMPETITIVE ENVIRONMENT WHEREAS YEARLY PLANS HIGHLIGHT ACHIEVEMENT IN SPECIFIC AREAS,
(C) MEASURABILITY ; ALTHROUGH LONG-TERM OBJECTIVE ARE ALSO MEASURABLE YEARLY, TARGET ARE MORE SPECIFIC AND READLY MEASURABLE.
(D) MEASURABILITY ; ALTHOUGHT LONG-TERM OBJECTIVE ARE ALSO MEASURABLE, YEARLY TARGET ARE MOST SPECIFIC AND READLY MEASUREBLE.

2, INTEGRATIVE AND CO-ORDINATIVE OBJECTIVES; FUNCTIONAL SENIOR MANAGER MAY LOSE SIGHT OF THIS ASPECT OWING TO POSSIBLE CONFLICTING INTEREST, DISCUSSIONS. ARE HELD AT CRITICAL POINTS IN THE DEVELOPMENT OF ANNUAL TARGET FOR VITAL PERFORANCE PARAMETERS SO THAT INTEGRATIVE AND CO-ORDINATIVE YEARLY PLANS FORMULATED ARE NOT INCONSISTENT WITH THE LONG-TERM OBJECTIVE.

 

  If you like this story, share it with a friend!

    We are a non-profit organization. Help us financially to keep our journalism free from government and corporate pressure.