Business Plan Cycle

Business Plan Cycle-23
The strategic planning cycle embodied in a set of formal planning procedures, ensures that managers examine major strategic issues, or 'strategic elephants', faced by their organization.This is necessary to overcome the natural preoccupation with short term operational problems.The need to use a formal strategic planning cycle, and the many apparent variations in planning process design, also reflects changes in the broader context in which organizations of all types operate.

The strategic planning cycle embodied in a set of formal planning procedures, ensures that managers examine major strategic issues, or 'strategic elephants', faced by their organization.This is necessary to overcome the natural preoccupation with short term operational problems.

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There is such bewildering array of strategic planning process diagrams.It should also be noted that the need to review objectives arises from signals that may be different from, and independent of, the signals that cause a review of strategy.Each of the two cycles may take place at different times and over different periods of time.Society has become keenly interested in the behavior and governance of organizations, and now requires clearer public statements of corporate intentions.Also because organizations have increased in size, complexity and geographic scope of their operations, rates of change, growing lead times on larger, more complex projects, there is a demand for more professional approaches to management at all levels.The planning cycle is subject to the setting of corporate objectives.These are the province of corporate governance rather than corporate management. With this clear we can look again at the simple form of planning process flow, or planning cycle, we have used elsewhere on this site.The diagram also suggests that corporate objectives are not affected by results or by a manager’s confidence in his plans.It also suggests that objectives cannot be determined until some of the environmental factors have been examined, i.e.The formal planning cycle also provides a logical framework to enable managers to tackle their strategic elephants in a systematic way, and so ensure that no major issues are left unaddressed.This need for a logical and thorough system is expressed in the amazing variety of corporate planning cycle diagrams on offer.

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