Plans and projections never match results. Why should a company spend time and energy on them?
A. Plans and projections document the key assumptions, intended/expected outcomes of strategy, tactics and actions. As such, they are important tools for evaluating what worked and what needs to be reworked. Solid plans and planning processes help an organization to maintain focus on its goals, understand results, and respond to unexpectedly bad or good developments quickly – all critical when trying to outmaneuver competitors. My training program, Business Planning as a Management Tool (pdf), addresses this issue in-depth. Q. What do you mean by ‘market-oriented?’ A. Business success requires achievement in the marketplace. Following a market-oriented approach puts market and customer considerations foremost providing a strong basis for focusing actions on strategic goals while enhancing appropriate tactical flexibility. Market and competitive analyses are used to identify and evaluate opportunities. Combining this knowledge with information about core capabilities, strengths and weak
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