Articles Insight Directory
Translate Page To German Tranlate Page To Spanish Translate Page To French Translate Page To Italian Translate Page To Japanese Translate Page To Korean Translate Page To Portuguese Translate Page To Chinese
  Number Times Read : 221      
Categories

Accounting
Business
Career
Computers
Current Affairs
Entertainment
Finance
Internet
Internet Marketing
Legal
Self Improvement
Technology
Travel
Web Design
Writing
 
Stats
Total Articles: 12773
Total Authors: 3466
Total Downloads: 1451460


Newest Member
Lloyd Guyer

 


   

The Importance of Planning in Business



[Valid RSS feed]  Category Rss Feed - http://www.articlesinsight.com/rss.php?rss=24
By : Art Gib    99 or more times read
Submitted 2009-04-20 10:12:10
Planning is an essential function in the success of any business. Planning does not refer simply to pulling out a calendar and recording things to do on random dates. Planning is all about actively plotting a course to meeting goals. Goals are really the start of any discussion about planning in a business.

We all are familiar with the concept of a goal. It's something we write down that we hope to achieve. However, we could greatly increase the effectiveness of our goals by adhering to a few simple principles.

The first principle is setting a specific goal. For example, the goal, 'do well in the first quarter' does not rank as a specific goal. If we changed that goal to read, 'sell children's books in the first quarter' then we are on the right path.

However, a necessary caveat to specific goals is making sure the goal is measurable. So, using the same example again, 'sell children's books' becomes 'sell $24,000 of children's books in the first quarter.' By now we have a goal that is specific enough that we can then break it down into even smaller measurements and know whether or not we are actually getting somewhere with it.

A second principle of goal setting is maintaining a vision. If the company we work for is an internet marketing company, than selling $24,000 worth of children's books is not a very effective or even applicable goal for our company. While this is an extreme comparison, the principle of vision can help ensure that all goals aim for the same destination. Let's say that instead of internet marketing we're in the grocery business and based in Utah.

We've conquered local markets in Utah and we want to expand further west into Las Vegas and Southern California in order to take advantage of more lucrative markets. If the vision entails aggressive westward expansion, then all the goals we're setting will need to help us get there. A vision is actually a long term milestone-type goal, and to accomplish a vision we need to establish benchmarks along the way.

So in the grocery case some appropriate benchmarks might be to establish a store in St. George as the first major benchmark. The next might be to establish a store in Vegas; the third to flood Vegas with stores; and then the fourth and beyond to hit California. A vision is meant to be grand, and can be as grand as the senior directors have imagination.

The final principle of planning is accountability. It doesn't do much good to establish specific goals within a defined vision when no one holds themselves accountable to the goals and makes efforts to make the vision reality. In order to facilitate accountability (which has to occur at all levels, though headed by the senior directors of a company) certain companies are hiring out managed services.

Managed services allow the directors of companies to focus on their goals and visions and give the grunt work to contracted workers. However accountability happens, through companies' own workers or through contracted ones, it is a critical step to achieve a well-laid plan.
Author Resource:- The Revere Group (http:// reveregroup.com/services/managed-services.aspx) offers managed services you need to free up senior directors for the work only they can do. Art Gib is a freelance writer.
Article From Articles Insight

HTML Ready Article. Click on the "Copy" button to copy into your clipboard.




Firefox users please select/copy/paste as usual
New Members
select
Sign up
select
Learn more
Affiliate Sign in
What's New
 
Nav Menu
Home
Login
Submit Articles
Submission Guidelines
Top Articles
Link Directory
About Us
Contact Us
Privacy Policy
RSS Feeds

Actions
Print This Article
Add To Favorites

 
Sponsors