Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

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Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 148taking the plan-implementation process. You have already made a significant commitment of your timeand energy in completing the 43 exercises in this book leading up to the completion and, hopefully,eventual implementation of your business plan.However, the three-phase approach to business planning is not focused only on developing a documentcalled a business plan. Its focus is the implementation of the business plan, which requires an evengreater commitment. This is a commitment to manage the plan to success through completing the actionitems in your action plan and reviewing the progress towards achieving your annual objectives.Incorporating this process into your company and making it the basis for your top-management decisionmaking will set the stage for your future growth and profitability.Chapter 11 presents recommendations for holding your own planning session in larger companies. It isstrongly suggested that you undertake this activity to enroll your management team into the planningprocess and enlist them in contributing to the future success of the organization.Page 149Chapter 11—Business Planning in Larger OrganizationsWhen there is unity there is always victory.—Publilius SyrosHolding the Planning SessionFor larger companies, holding a planning session with senior line and staff managers or advisors ishighly recommended. The session provides an opportunity to strengthen your plan based on additionalinput to the plan's strategy and tactics. In addition, gathering their input enables your staff members tobuy into the plan and take on responsibility for supporting the plan's implementation. As an example,your director of marketing and sales should take on marketing and sales objectives; the director ofhuman resources, personnel and compensation objectives; the director of finance, finance andaccounting objectives; the directors of your line organizations, revenue and other managementobjectives; and so on. Make them part of your plan and active participants in helping to achieve yourvision.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (162 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"This chapter focuses on those companies large enough to have a management team involved in theplanning process. The size of the staff could range from a single employee with managementresponsibility to companies consisting of a complete management infrastructure including line and staffmanagers. The line managers are thePage 150revenue generators, with titles such as division director, group leader, production manager, salesmanager, and so on. The staff managers support the operating entities of the company, and hold titlessuch as director of marketing and sales, finance and administration, purchasing, and human resources.Holding the planning session will involve them in the plan's development and future implementation.This will support the creation of unity at the senior levels and hopefully will achieve the victory for yourorganization that Publilius refers to in the opening quote.For those larger companies that are organized into divisions, groups, profit centers, locations, productlines, and so on, the planning effort should first be undertaken at the company's highest level; based onthis corporate plan, each business element should develop its own business plan utilizing the processdescribed in this book.Four Questions to Be AddressedIn preparing for the session, there are four questions that need to be addressed:1. Who should be invited to participate in the planning session?2. What are the necessary logistics of the planning session?3. How should we prepare for the planning session?4. What should the agenda of the planning session be?Guidelines to these four questions follow.Planning Session ParticipationKey people who should participate in the planning session are the senior line and staff managers of thecompany, including yourself and possibly other advisors such as your accountant, your banker, or aconsultant familiar with the business-planning process. Keep the sessionfile:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (163 of 219)16.02.2005 13:54:23
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Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

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