What is the Purpose of the Business Planning Department?

by Maria Formisano

Published on 26 Sep 2017

In order for a business idea or model to flourish, a business plan is essential. With that in mind, ongoing business planning is necessary to ensure that the business goals of an organization or, to a lesser degree, a department are aligned with corporate goals and objectives. Without this focus, corporate revenues, products and services could be at risk of being out of step with corporate positioning, cost to revenue and market share.

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The business planning department is also commonly referred to as strategic planning. This function analyzes the long-term goals of the company which, in turn, informs the development of organizational resources and strategic initiatives. For example, a company may be growing based on mergers and acquisitions. To support this, the company may decide it needs to invest in technology in order to remain competitive. It would be the responsibility of the business planning department to analyze the research, cost and implications of such an investment.

Companies that effectively plan, implement and measure business planning enjoy the benefits by being able to consistently monitor and work around problem areas that may arise. This lends itself to flexibility and an ability to reshuffle priorities while being able to anticipate challenges, turning them into potential opportunities. Conversely, with business planning in place, decision makers benefit from qualitative factors, such as streamlined communications, and quantitative factors such as financial cost savings.

The planning process isn't without its challenges. In fact, companies make fatal flaws that could knock the most precise strategic plan right out of the playing field. According to Harvard Business Review, there are four fatal flaws of strategic planning that companies make: 1) avoiding strategic analysis; 2) failing to understand that business planning takes time; 3) failing to link strategic planning with strategy execution; and 4) avoiding strategy review meetings. There is no shortcut to business planning.

Considerations

Having a strategic executive committee that spearheads an annual meeting of company leaders helps to define the strategic direction. It's sort of like a peeling the proverbial onion, with the outgrowth resulting in a better understanding of the competitive landscape, the company's business needs and those identifiable areas associated with challenge, growth and opportunity. Through this, a long-term strategic plan can be developed with project plans designed from which functional leaders can work on an annualized basis.

Best Practices

A good way to test business planning is to implement a management best practice such as the balanced scorecard. This methodology is specific as it relates to aligning corporate goals with business objectives and is a way to to establish, monitor and measure financial and nonfinancial business performance based on metrics, data and analysis. The balanced scorecard is a widely utilized management tool, and coupled with a finely tuned business planning process, managers can be confident when navigating today's business challenges.

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What Is Business Development?

  • Understanding the Basics
  • Areas of Development
  • The Process
  • Creating a Plan
  • Skills Needed

The Bottom Line

  • Small Business
  • How to Start a Business

Business Development: Definition, Strategies, Steps & Skills

Why more and more companies worldwide are embracing this planning process

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In the simplest terms, business development is a process aimed at growing a company and making it more successful. That can include seeking new business opportunities, building and sustaining connections with existing clients, entering strategic partnerships, and devising other plans to boost profits and market share.

Key Takeaways

  • The overarching goal of business development is to make a company more successful.
  • It can involve many objectives, such as sales growth, business expansion, the formation of strategic partnerships, and increased profitability.
  • The business development process can impact every department within a company, including sales, marketing, manufacturing, human resources, accounting, finance, product development, and vendor management.
  • Business development leaders and team members need a wide range of both soft and hard skills.

How Business Development Works Within an Organization

Business development, sometimes abbreviated as BD, strives to increase an organization's capabilities and reach in pursuit of its financial and other goals. In that way, it can impact—and also call upon the specialized skills of—a variety of departments throughout the organization.

As the financial services giant American Express puts it, "When it comes to organizational growth, business development acts as the thread that ties together all of a company's functions or departments, helping a business expand and improve its sales, revenues, product offerings, talent, customer service, and brand awareness."

For example:

Sales and Marketing

Sales personnel frequently focus on a particular market or a particular (set of) client(s), often for a targeted revenue number. A business development team might assess the Brazilian market, for example, and conclude that sales of $1.5 billion can be achieved there in three years. With that as their goal, the sales department targets the customer base in the new market with their sales strategies.

Business development often takes a longer-range perspective in setting goals than many sales departments have in the past. As the Society for Marketing Professional Services puts it, "A traditional view of sales is akin to hunting, but business development is more like farming: it's a longer-term investment of time and energy and not always a quick payoff."

Marketing , which oversees the promotion and advertising of the company's products and services, plays a complementary role to sales in achieving its targets.

A business development leader and their team can help set appropriate budgets based on the opportunities involved. Higher sales and marketing budgets allow for aggressive strategies like cold calling , personal visits, roadshows, and free sample distribution. Lower budgets tend to rely on more passive strategies, such as online, print, and social media ads, as well as billboard advertising.

Legal and Finance

To enter a new market, a business development team must decide whether it will be worth going solo by clearing all the required legal formalities or whether it might be more sensible to form a strategic alliance or partnership with firms already operating in that market. Assisted by legal and finance teams, the business development group weighs the pros and cons of the available options and selects the one that best serves the business.

Finance may also become involved in cost-cutting initiatives. Business development is not just about increasing market reach and sales, but improving the bottom line . An internal assessment revealing high spending on travel , for instance, may lead to travel policy changes, such as hosting video conference calls instead of on-site meetings or opting for less expensive transportation modes. The outsourcing of non-core work, such as billing, technology operations, or customer service, may also be part of the development plan.

Project Management/Business Planning

Does an international business expansion require a new facility in the new market, or will all the products be manufactured in the base country and then imported into the targeted market? Will the latter option require an additional facility in the base country? Such decisions are finalized by the business development team based on their cost- and time-related assessments. Then, the project management /implementation team can swing into action to work toward the desired goal.

Product Management and Manufacturing

Regulatory standards and market requirements can vary across regions and countries. A medicine of a certain composition may be allowed in India but not in the United Kingdom, for example. Does the new market require a customized—or altogether new—version of the product?

These requirements drive the work of product management and manufacturing departments, as determined by the business strategy. Cost considerations, legal approvals, and regulatory adherence are all assessed as a part of the development plan.

Vendor Management

Will the new business need external vendors ? For example, will the shipping of a product require a dedicated courier service? Will the company partner with an established retail chain for retail sales? What are the costs associated with these engagements? The business development team works through these questions with the appropriate internal departments.

10 Potential Areas for Business Development

As noted earlier, business development can require employees throughout an organization to work in tandem to facilitate information, strategically plan future actions, and make smart decisions. Here is a summary list of potential areas that business development may get involved in, depending on the organization.

  • Market research and analysis: This information helps identify new market opportunities and develop effective strategies.
  • Sales and lead generation: This involves prospecting, qualifying leads, and coordinating with the sales team to convert leads into customers.
  • Strategic partnerships and alliances: This includes forming strategic alliances, joint ventures, or collaborations that create mutually beneficial opportunities.
  • Product development and innovation: This involves conducting market research, gathering customer feedback, and collaborating with internal teams to drive innovation.
  • Customer relationship management: This involves customer retention initiatives, loyalty programs, and gathering customer feedback to enhance customer satisfaction and drive repeat business.
  • Strategic planning and business modeling: This includes identifying growth opportunities, setting targets, and implementing strategies to achieve sustainable growth.
  • Mergers and acquisitions: This involves evaluating potential synergies, conducting due diligence , and negotiating and executing deals.
  • Brand management and marketing: This includes creating effective marketing campaigns, managing online and offline channels, and leveraging digital marketing techniques.
  • Financial analysis and funding: This includes exploring funding options, securing investments, or identifying grant opportunities.
  • Innovation and emerging technologies: This involves assessing the potential impact of disruptive technologies and integrating them into the organization's growth strategies.

The Business Development Process in Six Steps

While the specific steps in the business development process will depend on the particular company, its needs and capabilities, its leadership, and its available capital, these are some of the more common ones:

Step 1: Market Research/Analysis

Begin by conducting comprehensive market research to gain insights into market trends, customer needs, and the competitive landscape. Analyze data and gather additional information to identify potential growth opportunities and understand the market dynamics.

Step 2: Establish Clear Goals and Objectives

Leveraging that research, define specific objectives and goals for business development efforts. These goals could include revenue targets, market expansion goals, customer acquisition targets, and product/service development objectives. Setting clear goals provides a focus for the business development process.

Step 3: Generate and Qualify Leads

Use various sources, such as industry databases, networking , referrals, or online platforms to generate a pool of potential leads. Identify individuals or companies that fit the target market criteria and have the potential to become customers. Then, evaluate and qualify leads based on predetermined criteria to determine their suitability and potential value.

Step 4: Build Relationships and Present Solutions

Initiate contact with qualified leads and establish relationships through effective communication and engagement. Utilize networking events, industry conferences, personalized emails, or social media interactions to build trust and credibility. As your relationship forms, develop and present tailored solutions that align with the client's needs. Demonstrate the value proposition of the organization's offerings and highlight key benefits and competitive advantages.

Step 5: Negotiate and Expand

Prepare and deliver proposals that outline the scope of work, pricing, deliverables, and timelines. Upon agreement, coordinate with legal and other relevant internal teams to ensure a smooth contract execution process.

Step 6: Continuously Evaluate

Continuously monitor and evaluate the effectiveness of business development efforts. Analyze performance metrics , gather feedback from clients and internal stakeholders, and identify areas for improvement. Regularly refine strategies and processes to adapt to market changes and optimize outcomes.

While it's common for startup companies to seek outside assistance in developing the business, as a company matures, it should aim to build its business development expertise internally.

How to Create a Business Development Plan

To effectively create and implement a business development plan, the team needs to set clear objectives and goals—ones that are specific, measurable, achievable, relevant, and time-bound (SMART). You can align these objectives with the overall business goals of the company.

Companies often analyze the current state of the organization by evaluating its strengths, weaknesses, opportunities, and threats through a SWOT analysis . That can make it easier to identify target markets and customer segments and define their unique value proposition.

A substantial component of a business development plan is the external-facing stages. It should lay out sales and marketing strategies to generate leads and convert them into customers. In addition, it may explore new potential strategic partnerships and alliances to expand your reach, access new markets, or enhance your offerings.

Teams should conduct a financial analysis and do resource planning to determine the resources required for implementing the plan. Once you implement, you should track progress against the key performance indicators (KPIs) you've chosen.

Skills Needed for Business Development Jobs

Business development is a fast-growing field across industries worldwide. It is also one that calls upon a wide range of hard and soft skill sets.

Leaders and other team members benefit from well-honed sales and negotiating skills in order to interact with clients, comprehend their needs, and sway their decisions. They have to be able to establish rapport, cope with challenges, and conclude transactions. They need to be able to communicate clearly, verbally and in writing, to both customers and internal stakeholders.

Business development specialists should have a thorough awareness of the market in which they operate. They should keep up with market dynamics, competition activity, and other industry developments. They should be able to see potential opportunities, make wise judgments, and adjust tactics as necessary. Because many of their decisions will be data-driven, they need good analytical skills.

Internally, business development practitioners need to be able to clarify priorities, establish reasonable deadlines, manage resources wisely, and monitor progress to guarantee timely completion.

Finally, people who work in business development should conduct themselves with the utmost morality and honesty. They must uphold confidentiality, act legally and ethically, and build trust with customers and other stakeholders.

Why Is Business Development Important?

In addition to its benefits to individual companies, business development is important for generating jobs, developing key industries, and keeping the economy moving forward.

What Are the Most Important Skills for Business Development Executives?

Development executives need to have leadership skills, vision, drive, and a willingness to work with a variety of people to get to a common goal.

How Can I Be Successful in Business Development?

Having a vision and putting together a good team are among the factors that help predict success in business development. A successful developer also knows how to write a good business plan, which becomes the blueprint to build from.

What, in Brief, Should a Business Development Plan Include?

A business development plan, or business plan , should describe the organization's objectives and how it intends to achieve them, including financial goals, expected costs, and targeted milestones.

Business development provides a way for companies to rise above their day-to-day challenges and set a course for a successful future. More and more companies, across many different types of industries, are coming to recognize its value and importance.

American Express. " Business Development and Its Importance ."

Society for Marketing Professional Services. " What Is Business Development? "

World Economic Forum. " The Future of Jobs Report 2020 ," Page 30.

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What is the Role of Planning Department? – Guide to Success

In the world of business, success is often a result of careful planning and strategic decision-making. And at the heart of this process lies the planning department – the unsung heroes who play a pivotal role in shaping the direction and trajectory of an organization.

But what exactly does the planning department do, and why is it so crucial for achieving success? This guide aims to answer these questions and shed light on the vital role that the planning department plays in an organization’s journey towards success. From setting goals and objectives to developing comprehensive strategies and monitoring progress, the planning department acts as the compass that guides the entire organization.

By leveraging their expertise in forecasting, analysis, and problem-solving, this department helps businesses stay ahead of the curve, overcome challenges, and seize opportunities.

So, whether you’re a business owner, executive, or aspiring entrepreneur, join us as we delve into the world of the planning department and discover the secrets to achieving success through effective planning.

Planning Statistic

Table of Contents

Importance of the Planning Department

The planning department is the backbone of any successful organization. Its primary role is to ensure effective decision-making and resource allocation to achieve the company’s goals and objectives. One of the key reasons why the planning department holds such significance is its ability to provide a long-term vision and direction for the organization. By analyzing market trends, customer demands, and internal capabilities, they are able to develop strategic plans that guide the company’s growth and success.

This foresight allows businesses to adapt to changing circumstances, mitigate risks, and capitalize on emerging opportunities. Additionally, the planning department provides a framework for coordination and collaboration among different departments, ensuring that everyone is aligned towards a common vision. By fostering effective communication and cross-functional teamwork, the planning department enables the smooth execution of strategies and initiatives.

The planning department is also responsible for ensuring that the organization’s resources are utilized efficiently. Through careful analysis and forecasting, they are able to anticipate resource requirements and allocate them effectively. This includes managing budgets, manpower, and assets to maximize productivity and minimize waste. By optimizing resource allocation, the planning department helps businesses achieve optimal outcomes and drive profitability. Furthermore, the planning department plays a crucial role in risk management.

They identify potential risks, assess their likelihood and impact, and develop contingency plans to mitigate them. This proactive approach to risk management reduces uncertainty and enhances the organization’s ability to navigate challenges successfully.

In summary, the planning department is vital for an organization’s success because it provides a long-term vision, ensures coordination and collaboration, optimizes resource allocation, and manages risks effectively. By leveraging their expertise in strategic planning, analysis, and problem-solving, the planning department plays a key role in driving the growth and profitability of a business.

Roles and Responsibilities of the Planning Department

The planning department has a wide range of roles and responsibilities that contribute to the overall success of an organization. These include:

1. Strategic Planning: One of the primary responsibilities of the planning department is to develop and implement the organization’s strategic plans. This involves analyzing market trends, conducting competitive analysis, and identifying growth opportunities. The planning department works closely with top management to set goals and objectives, define strategies, and allocate resources to achieve them.

2. Forecasting and Analysis: The planning department is responsible for conducting in-depth analysis and forecasting to support decision-making. This includes analyzing financial data, market research, and industry trends to identify patterns and make informed predictions. By leveraging their analytical skills and using advanced tools and technologies, the planning department helps businesses anticipate future challenges and opportunities.

3. Performance Monitoring: The planning department plays a key role in monitoring and evaluating the performance of the organization. They develop performance indicators and metrics, track progress against goals, and identify areas for improvement. By providing regular reports and insights to management, the planning department enables data-driven decision-making and continuous improvement.

4. Resource Allocation: Another important responsibility of the planning department is to ensure efficient resource allocation. This includes managing budgets, manpower, and assets to optimize productivity and minimize waste. The planning department collaborates with other departments to understand their resource requirements and allocate resources accordingly.

5. Risk Management: The planning department is responsible for identifying and managing risks that may impact the organization’s success. They conduct risk assessments, develop contingency plans, and implement risk mitigation strategies. By proactively managing risks, the planning department helps businesses minimize potential disruptions and protect their interests.

6. Collaboration and Communication: The planning department acts as a bridge between different departments within the organization. They facilitate effective communication, coordination, and collaboration among various teams to ensure that everyone is aligned towards the organization’s goals. This includes conducting meetings, workshops, and training sessions to foster a culture of collaboration and knowledge sharing.

In conclusion, the planning department has a diverse range of roles and responsibilities that contribute to the success of an organization. From strategic planning and forecasting to performance monitoring and resource allocation, the planning department plays a crucial role in driving growth, managing risks, and fostering collaboration within the organization.

Key Skills and Qualifications for Planning Department Professionals

To excel in the planning department, professionals need to possess a specific set of skills and qualifications. These include:

1. Analytical Skills: Planning department professionals must have strong analytical skills to analyze data, identify patterns, and make informed decisions. They should be able to gather and interpret information from various sources and use it to develop insights and recommendations.

2. Strategic Thinking: The ability to think strategically is essential for planning department professionals. They should be able to understand the big picture, anticipate future trends, and develop long-term plans to achieve the organization’s goals. Strategic thinking involves considering multiple perspectives, weighing options, and making decisions that align with the organization’s vision and values.

3. Problem-Solving Skills: Planning department professionals should be adept at problem-solving. They should be able to identify challenges, analyze root causes, and develop innovative solutions. This requires critical thinking, creativity, and the ability to think outside the box.

4. Communication and Collaboration: Effective communication and collaboration skills are essential for planning department professionals. They need to be able to communicate their ideas, recommendations, and plans clearly and concisely. Additionally, they should be able to collaborate with different teams and stakeholders to ensure alignment and buy-in.

5. Technical Skills: Planning department professionals should have a good understanding of various tools and technologies used in strategic planning and analysis. This may include software applications for data analysis, project management, and financial modeling. Proficiency in Microsoft Excel, PowerPoint, and other relevant software is often required.

6. Business Acumen: Planning department professionals should have a strong understanding of business principles and practices. They should be able to assess market trends, financial data, and industry dynamics to develop strategic plans that drive growth and profitability. Business acumen involves understanding the organization’s goals and objectives, as well as the competitive landscape in which it operates.

7. Attention to Detail: Planning department professionals need to have a keen eye for detail to ensure accuracy and precision in their work. They should be able to spot inconsistencies, errors, and gaps in information and make necessary adjustments. Attention to detail is crucial for developing reliable forecasts, analyzing data, and monitoring performance.

In summary, planning department professionals need to possess a combination of analytical skills, strategic thinking, problem-solving abilities, communication and collaboration skills, technical expertise, business acumen, and attention to detail. By honing these skills and qualifications, professionals can excel in the planning department and contribute to the success of the organization.

The Planning Process and Its Stages

The planning process is a systematic approach used by the planning department to develop and implement strategic plans. It involves several stages, each of which contributes to the overall success of the organization. The stages of the planning process include:

1. Setting Goals and Objectives: The first stage of the planning process involves setting clear and measurable goals and objectives. This includes defining the organization’s mission, vision, and values, as well as identifying the desired outcomes. Goals and objectives provide a sense of direction and purpose, guiding the planning department and the organization as a whole.

2. Environmental Analysis: The next stage of the planning process involves conducting an environmental analysis. This includes analyzing internal and external factors that may impact the organization’s success. Internal factors may include strengths, weaknesses, resources, and capabilities, while external factors may include market trends, competition, regulatory changes, and technological advancements. The analysis helps the planning department identify opportunities, threats, and key challenges that need to be addressed.

3. Strategy Development: Once the goals and objectives are set and the environmental analysis is complete, the planning department develops strategies to achieve the desired outcomes. This involves brainstorming, evaluating different options, and selecting the most appropriate strategies. The strategies should be aligned with the organization’s goals, take into account the external environment, and leverage the organization’s strengths.

4. Action Planning: The next stage of the planning process is action planning. This involves breaking down the strategies into actionable steps, setting timelines, and allocating resources. Action planning ensures that the strategies are translated into practical initiatives that can be implemented by different teams within the organization. It also helps in assigning responsibilities, monitoring progress, and ensuring accountability.

5. Implementation: Implementation is the stage where the strategies and action plans are put into action. The planning department works closely with different departments and teams to ensure that the initiatives are executed as planned. This may involve providing training, support, and guidance to ensure smooth implementation. It also includes monitoring progress, addressing issues, and making necessary adjustments along the way.

6. Monitoring and Evaluation: The final stage of the planning process is monitoring and evaluation. This involves tracking the progress of the initiatives, evaluating their effectiveness, and making necessary adjustments. The planning department develops performance indicators and metrics to measure the success of the strategies and identify areas for improvement. Monitoring and evaluation provide feedback that helps in continuous improvement and informs future planning efforts.

In summary, the planning process consists of several stages, including setting goals and objectives, conducting environmental analysis, developing strategies, action planning, implementation, and monitoring and evaluation. By following a systematic approach, the planning department ensures that the organization’s plans are well thought out, effectively implemented, and continuously improved.

Collaborating with Other Departments in the Planning Process

The planning department does not work in isolation; it collaborates with other departments within the organization to ensure that the planning process is comprehensive and aligned with the organization’s goals. Collaboration with other departments is crucial for several reasons:

1. Cross-Functional Expertise: Different departments have specialized knowledge and expertise that is essential for effective planning. By collaborating with other departments, the planning department can tap into this expertise and gain valuable insights. For example, the marketing department may provide insights on customer preferences and market trends, while the finance department may provide financial data and analysis.

2. Alignment and Buy-In: Collaboration ensures that all departments are aligned towards a common vision and goals. By involving other departments in the planning process, the planning department can ensure that everyone’s perspectives and priorities are considered. This fosters a sense of ownership and buy-in, increasing the likelihood of successful implementation.

3. Resource Allocation: Collaboration with other departments is crucial for effective resource allocation. The planning department needs to understand the resource requirements of different departments and allocate resources accordingly. By collaborating with other departments, the planning department can ensure that resources are allocated optimally, taking into account the priorities and needs of different teams.

4. Communication and Coordination: Collaboration facilitates effective communication and coordination among different departments. The planning department acts as a bridge, ensuring that information flows smoothly between departments and that everyone is aware of the organization’s goals and plans. This reduces duplication of effort, enhances collaboration, and improves overall efficiency.

5. Feedback and Continuous Improvement: Collaboration allows for feedback and continuous improvement. By involving other departments in the planning process, the planning department can gather feedback on the feasibility and effectiveness of the plans. This feedback helps in making necessary adjustments and improvements, ensuring that the plans are realistic and achievable.

In summary, collaboration with other departments is essential for effective planning. By leveraging cross-functional expertise, ensuring alignment and buy-in, optimizing resource allocation, facilitating communication and coordination, and promoting feedback and continuous improvement, the planning department can develop comprehensive and successful plans that drive the organization’s growth and success.

Tools and Technologies Used by the Planning Department

The planning department leverages various tools and technologies to support the planning process and enhance its effectiveness. These tools and technologies help in data analysis, forecasting, communication, and collaboration. Some of the commonly used tools and technologies by the planning department include:

1. Data Analytics Software: Data analytics software, such as Microsoft Excel, Tableau, or IBM Watson Analytics, is used for data analysis and visualization. These tools allow the planning department to analyze large datasets, identify patterns and trends, and make data-driven decisions. Data analytics software also helps in developing forecasts and scenarios to support planning efforts.

2. Project Management Software: Project management software, such as Asana, Trello, or Microsoft Project, is used for planning, scheduling, and tracking projects and initiatives. These tools help in breaking down the planning process into actionable tasks, setting timelines, assigning responsibilities, and monitoring progress. Project management software facilitates collaboration and coordination among different teams and ensures that the planning department can effectively manage multiple projects simultaneously.

3. Financial Modeling Software: Financial modeling software, such as Excel-based models or specialized tools like Adaptive Insights or Anaplan, is used for financial planning, budgeting, and forecasting. These tools allow the planning department to develop financial models, perform what-if scenarios, and assess the financial impact of different strategies. Financial modeling software helps in making informed financial decisions and optimizing resource allocation.

4. Collaboration and Communication Tools: Collaboration and communication tools, such as Microsoft Teams, Slack, or Google Workspace, are used for effective communication and collaboration within the planning department and with other departments. These tools enable real-time communication, document sharing, and project management. Collaboration and communication tools facilitate remote work, enhance teamwork, and streamline the planning process.

5. Business Intelligence Tools: Business intelligence tools, such as Power BI, QlikView, or Tableau, are used for data visualization and reporting. These tools help in developing interactive dashboards, reports, and visualizations that provide insights into the organization’s performance. Business intelligence tools enable the planning department to monitor key performance indicators, track progress against goals, and identify areas for improvement.

6. Scenario Planning Software: Scenario planning software, such as Decision Explorer or Palisade’s @RISK, is used for developing and analyzing different scenarios and their potential outcomes. These tools help in assessing the impact of different variables and uncertainties on the

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What Is Business Planning?

Why Business Planning Isn't Just for Startups

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

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Business planning takes place when the key stakeholders in a business sit down and flesh out all the goals , strategies, and actions that they envision taking to ensure the business’s survival, prosperity, and growth.

Here are some strategies for business planning and the ways it can benefit your business.

Business planning can play out in many different ways. Anytime upper management comes together to plan for the success of a business, it is a form of business planning. Business planning commonly involves collecting ideas in a formal business plan that outlines a summary of the business's current state, as well as the state of the broader market, along with detailed steps the business will take to improve performance in the coming period.

Business plans aren't just about money. The business plan outlines the general planning needed to start and run a successful business, and that includes profits, but it also goes beyond that. A plan should account for everything from scoping out the competition and figuring out how your new business will fit into the industry to assessing employee morale and planning for how to retain talent.

How Does Business Planning Work?

Every new business needs a business plan —a blueprint of how you will develop your new business, backed by research, that demonstrates how the business idea is viable. If your new business idea requires investment capital, you will have a better chance of obtaining debt or equity financing from financial institutions, angel investors , or venture capitalists if you have a solid business plan to back up your ideas.

Businesses should prepare a business plan, even if they don't need to attract investors or secure loans.

Post-Startup Business Planning

The business plan isn’t a set-it-and-forget-it planning exercise. It should be a living document that is updated throughout the life cycle of your business.

Once the business has officially started, business planning will shift to setting and meeting goals and targets. Business planning is most effective when it’s done on a consistent schedule that revisits existing goals and projects throughout the year, perhaps even monthly. In addition to reviewing short-term goals throughout the year, it's also important to establish a clear vision and lay the path for your long-term success.

Daily business planning is an incredibly effective way for individuals to focus on achieving both their own goals and the goals of the organization.

Sales Forecasting

The sales forecast is a key section of the business plan that needs to be constantly tracked and updated. The sales forecast is an estimate of the sales of goods and services your business is likely to achieve over the forecasted period, along with the estimated profit from those sales. The forecast should take into account trends in your industry, the general economy, and the projected needs of your primary customers.

Cash Flow Analysis

Another crucial component of business planning is cash flow analysis. Avoiding extended cash flow shortages is vital for businesses, and many business failures can be blamed on cash flow problems.

Your business may have a large, lucrative order on the books, but if it can't be invoiced until the job is completed, then you may run into cash flow problems. That scenario can get even worse if you have to hire staff, purchase inventory, and make other expenditures in the meantime to complete the project.

Performing regular cash flow projections is an important part of business planning. If managed properly, cash flow shortages can be covered by additional financing or equity investment.

Business Contingency Planning

In addition to business planning for profit and growth, your business should have a contingency plan. Contingency business planning (also known as business continuity planning or disaster planning) is the type of business planning that deals with crises and worst-case scenarios. A business contingency plan helps businesses deal with sudden emergencies, unexpected events, and new information that could disrupt your business.

The goals of a contingency plan are to:

  • Provide for the safety and security of yourself, your employees, and your customers in the event of a fire, flood, robbery, data breach, illness, or some other disaster
  • Ensure that your business can resume operations after an emergency as quickly as possible

Business Succession Planning

If your business is a family enterprise or you have specific plans for who you want to take over in the event of your retirement or illness, then you should have a plan in place to hand over control of the business . The issues of management, ownership, and taxes can cause a great deal of discord within families unless a succession plan is in place that clearly outlines the process.

Key Takeaways

  • Business planning is when key stakeholders review the state of their business and plan for how they will improve the business in the future.
  • Business planning isn't a one-off event—it should be an ongoing practice of self-assessment and planning.
  • Business planning isn't just about improving sales; it can also address safety during natural disasters or the transfer of power after an owner retires.

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What does a Business Planning Manager do?

A business planning manager is responsible for overseeing the business management process and ensuring that the staff meets productivity goals and targets. Business planning managers recruit and train new staff, handle budgets for projects, and identify opportunities that would increase more revenue resources and profits for the business. They also coordinate with clients for updates and adjust business plans as needed. A business planning manager must have excellent communication and leadership skills to manage teams and achieve long-term objectives.

  • Responsibilities
  • Skills And Traits
  • Comparisions
  • Types of Business Planning Manager

Resume

Business planning manager responsibilities

Here are examples of responsibilities from real business planning manager resumes:

  • Lead central team summarizing and prioritizing all DOD opportunities, enabling more efficient and effective resource allocation across several program departments.
  • Create and implement new product BOM's.
  • Verify WIP movement transactions are complete and with the latest BOM changes.
  • Provide management with managerial reporting, variances explanations, and KPIs for decision making.
  • Perform discounted cash flow and ROI analysis to plan and approve capital equipment investments.
  • Create and execute a global staffing scorecard to measure hiring process focusing on ROI to ensure essential staffing.
  • Provide specialized CRM consulting, strategy development and systems integration services to help clients leverage technology to build effective customer relationships.
  • Generate statistical forecast models using Manugistics and NEFOR (proprietary forecasting tool).
  • Maintain and document forecasting and reporting procedures used in forecasting software (Manugistics).

Business planning manager skills and personality traits

We calculated that 19 % of Business Planning Managers are proficient in Business Planning , Competitive Analysis , and Direct Reports . They’re also known for soft skills such as Creativity , Interpersonal skills , and Organizational skills .

We break down the percentage of Business Planning Managers that have these skills listed on their resume here:

Create, communicate and coordinate quarterly adjustments to the annual plan as dictated by Corporate Business Planning and operational requirements.

Developed a market research and competitive analysis strategy that successfully differentiated the Ford product offering that increased sales and revenues.

Created, approved, and processed compensation transactions for senior executives and their direct reports.

Provided training to project management audience to promote efficient and standardized project management processes.

Develop metrics, performance measures and reports that support the business objectives and results.

Analyzed market trends, price cliffs, and competitor behavior to ensure pricing strategy drove profitable growth.

Most business planning managers use their skills in "business planning," "competitive analysis," and "direct reports" to do their jobs. You can find more detail on essential business planning manager responsibilities here:

  • Creativity. To carry out their duties, the most important skill for a business planning manager to have is creativity. Their role and responsibilities require that "advertising, promotions, and marketing managers must be able to generate new and imaginative ideas." Business planning managers often use creativity in their day-to-day job, as shown by this real resume: "managed 6 business planners in multiple countries coordinating all scheduling, delivery, and inventory activities for $250m+ product line. "
  • Interpersonal skills. Another essential skill to perform business planning manager duties is interpersonal skills. Business planning managers responsibilities require that "managers must deal with a range of people in different roles, both inside and outside the organization." Business planning managers also use interpersonal skills in their role according to a real resume snippet: "trained new employees in business practices, new business development, and interpersonal communication. "
  • Organizational skills. business planning managers are also known for organizational skills, which are critical to their duties. You can see how this skill relates to business planning manager responsibilities, because "advertising, promotions, and marketing managers must manage their time and budget efficiently while directing and motivating staff members." A business planning manager resume example shows how organizational skills is used in the workplace: "influence strong organizational effectiveness including effective project management, cross-functional leadership, corporate training and organizational development. "
  • Analytical skills. business planning manager responsibilities often require "analytical skills." The duties that rely on this skill is shown by the fact that "advertising, promotions, and marketing managers must be able to analyze industry trends to determine the most promising strategies for their organization." This resume example shows what business planning managers do with analytical skills on a typical day: "performed project and product profitability analysis for all product lines of the organization. "
  • Communication skills. A commonly-found skill in business planning manager job descriptions, "communication skills" is essential to what business planning managers do. Business planning manager responsibilities rely on this skill because "managers must be able to communicate effectively with a broad-based team made up of other managers or staff members during the advertising, promotions, and marketing process." You can also see how business planning manager duties rely on communication skills in this resume example: "directed business planning and internal communication activity for the $1.6b global transportation industry. "

Most common business planning manager skills

The three companies that hire the most business planning managers are:

  • Ernst & Young 56 business planning managers jobs
  • Oracle 48 business planning managers jobs
  • Samsung Electronics Device Solutions (Semiconductor & Display) 15 business planning managers jobs

Choose from 10+ customizable business planning manager resume templates

Business Planning Manager Resume

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Compare different business planning managers

Business planning manager vs. manager, strategy.

A strategy manager is an individual who reviews a company's objectives for growth and works with executives to formulate actionable plans to achieve these objectives. To make comprehensive recommendations, strategy managers must conduct data analysis of the organization as well as the overall industry. They must provide assessments of market trends and identify business threats and opportunities. Strategy managers should also work with department heads to develop individual team goals and break them down into actionable steps for the employees to complete.

The annual salary of managers, strategy is $5,420 lower than the average salary of business planning managers.

While their salaries may differ, the common ground between business planning managers and managers, strategy are a few of the skills required in each roleacirc;euro;trade;s responsibilities. In both careers, employee duties involve skills like competitive analysis, direct reports, and project management.

There are some key differences in the responsibilities of each position. For example, business planning manager responsibilities require skills like "business planning," "continuous improvement," "supply chain planning," and "business performance." Meanwhile a typical manager, strategy has skills in areas such as "portfolio," "client facing," "digital marketing," and "strategic thinking." This difference in skills reveals the differences in what each career does.

Managers, strategy earn the highest salaries when working in the technology industry, with an average yearly salary of $116,769. On the other hand, business planning managers are paid more in the finance industry with an average salary of $117,563.

The education levels that managers, strategy earn slightly differ from business planning managers. In particular, managers, strategy are 7.8% more likely to graduate with a Master's Degree than a business planning manager. Additionally, they're 0.8% more likely to earn a Doctoral Degree.

Business planning manager vs. Product manager

A product manager is responsible for ensuring product development, providing the best marketing strategies, and effectively handling the sales and marketing team. Product managers' duties include monitoring the market trends and conditions, identifying business opportunities and plan initiatives, and collaborating the product launch process with the appropriate departments. A product manager is also responsible for generating ideas on improving product features, determining timetables and reasonable pricing, and analyzing product sales. A product manager must have excellent strategic and decision-making skills to contribute to its growth and profitability.

A career as a product manager brings a lower average salary when compared to the average annual salary of a business planning manager. In fact, product managers salary is $3,522 lower than the salary of business planning managers per year.

A few skills overlap for business planning managers and product managers. Resumes from both professions show that the duties of each career rely on skills like "competitive analysis," "direct reports," and "project management. "

Each career also uses different skills, according to real business planning manager resumes. While business planning manager responsibilities can utilize skills like "business planning," "business objectives," "financial analysis," and "data analysis," product managers use skills like "product management," "qa," "product strategy," and "user stories."

Product managers may earn a lower salary than business planning managers, but product managers earn the most pay in the retail industry with an average salary of $114,839. On the other hand, business planning managers receive higher pay in the finance industry, where they earn an average salary of $117,563.

In general, product managers achieve lower levels of education than business planning managers. They're 5.4% less likely to obtain a Master's Degree while being 0.8% more likely to earn a Doctoral Degree.

Business planning manager vs. Market manager

A marketing manager is an executive who manages a brand or product's promotion positioning. Marketing managers analyze the trends in the industry and the demand for certain products and services. Typically, they attract more customers to purchase products and/or services and raise brand awareness through marketing campaigns. They research, identify, examine, and evaluate product demand. Also, they review advertising materials like print ads to boost the marketing strategy of the company and strengthen its campaign.

An average market manager eans a lower salary compared to the average salary of business planning managers. The difference in salaries amounts to market managers earning a $27,193 lower average salary than business planning managers.

Business planning managers and market managers both have job responsibilities that require similar skill sets . These similarities include skills such as "competitive analysis," "direct reports," and "project management," but they differ when it comes to other required skills.

The required skills of the two careers differ considerably. For example, business planning managers are more likely to have skills like "business planning," "business objectives," "financial analysis," and "data analysis." But a market manager is more likely to have skills like "customer service," "strong analytical," "excellent interpersonal," and "human resources."

Market managers make a very good living in the manufacturing industry with an average annual salary of $85,133. On the other hand, business planning managers are paid the highest salary in the finance industry, with average annual pay of $117,563.

When it comes to education, market managers tend to earn lower degree levels compared to business planning managers. In fact, they're 11.5% less likely to earn a Master's Degree, and 0.1% less likely to graduate with a Doctoral Degree.

Business planning manager vs. Manager finance planning and analysis

A manager finance planning and analysis oversees the daily operations of a company's financial planning department. They typically have administrative duties such as setting goals and guidelines, establishing timelines and budgets, delegating tasks among teams and staff, and reviewing financial reports regularly. They also perform research and assessments, gather and analyze financial data from different departments, coordinate staff, and solve issues and concerns when any arise. Additionally, as a manager, they must lead and empower staff to reach goals while implementing company policies and regulations.

Managers finance planning and analysis typically earn lower pay than business planning managers. On average, managers finance planning and analysis earn a $8,363 lower salary per year.

While their salaries may vary, business planning managers and managers finance planning and analysis both use similar skills to perform their duties. Resumes from both professions include skills like "direct reports," "pricing strategy," and "financial analysis. "

Even though a few skill sets overlap between business planning managers and managers finance planning and analysis, there are some differences that are important to note. For one, a business planning manager might have more use for skills like "business planning," "competitive analysis," "project management," and "business objectives." Meanwhile, some responsibilities of managers finance planning and analysis require skills like "customer service," "visualization," "financial operations," and "financial reports. "

In general, managers finance planning and analysis earn the most working in the manufacturing industry, with an average salary of $109,735. The highest-paying industry for a business planning manager is the finance industry.

In general, managers finance planning and analysis hold similar degree levels compared to business planning managers. Managers finance planning and analysis are 1.2% more likely to earn their Master's Degree and 0.3% less likely to graduate with a Doctoral Degree.

Types of business planning manager

  • Business Development Manager

How To Become a Business Development Manager

  • Business Manager

How To Become a Business Manager

Product manager, how to become a product manager.

  • Business Operations Manager

How To Become a Business Operations Manager

  • Business Unit Manager

How To Become a Business Unit Manager

  • Business Leader

How To Become a Business Leader

Updated February 16, 2024

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

What Similar Roles Do

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  • What a Manager Finance Planning And Analysis Does
  • What a Manager, Strategy Does
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  • What a Media Manager Does
  • What a Planning Director Does
  • What a Planning Manager Does

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MindManager Blog

The ultimate guide to business planning (with template)

November 19, 2020 by MindManager Blog

By: Jill Huettich

If you could do something to double the success of your business, would you do it? Of course you would! Happily, that’s not pie-in-the-sky kind of talk either. There is something you can do to increase your likelihood of business success by a whopping 200%. That something is business planning. Time and time again, business planning has been shown to have a huge impact on business growth.

Take, for instance, the results of a survey completed by 2,877 business owners. After analyzing respondents’ answers, the Oregon Department of Economics concluded that business planning correlates with success in multiple areas, including: obtaining a loan, getting investment capital, making a major purchase, recruiting a new team member, thinking more strategically, and growing a company.

Mind you, those results were “regardless of the type of company, the growth stage of the company, and the intent of the business plan.” Clearly, business planning works!

In this guide to business planning, we’ll cover everything you need to know about business plans, their benefits and importance, what does into one, and will provide a template for you to get started. Jump ahead using the links below.

What is business planning?

The importance of business planning, how to write a business plan, sample business plan template.

  • Downloadable MindManager template

[Free eBook] How Visualization Builds Better Strategic Plans

Business planning refers to the process of determining a company’s objectives, strategies, and projected actions to reach certain goals within a specific time fame. Typically, business planning focuses on two key areas: making profits and mitigating risks.

When companies engage in business planning, it’s with the objective of creating a business plan.  A business plan is a written document that contains: the company’s vision, a description of the company, information about its products and services, marketing research, sales strategies, financial projections, competitor analysis, and financial records.

The purpose of a business plan is to act as a road map of sorts, providing a company with the direction, focus, and clarity it needs to achieve its goals.

Business planning vs. strategic planning

Now that you know what business planning is, you may be wondering if it’s any different from strategic planning, and if so, how? That’s what we’ll go over in this section.

As we mentioned before, business planning provides a detailed overview of a company. Usually, this is undertaken with the goal of building revenue and support for a startup. In other words, a business plan tests the proposition that a “particular undertaking—program, partnership, new venture, growth strategy, or entity as a whole—is economically or operationally viable.”

By contrast, a strategic plan is a high-level document that creates a vision for an established company. From that vision, broadly defined objectives are outlined.

Because strategic plans define companies’ most important objectives, they’re used to align department goals, build consensus among stakeholders, and prioritize company spending.

Another difference between these two types of plans is the length of time they cover. A strategic plan typically looks at a period of 3-5 years, whereas a business plan usually just looks at a year.

Additionally, business plans are primarily written to raise money, so their audience is external. Strategic plans are internal documents, created for people within the company.

The importance of business planning cannot be overstated. In particular, businesses do it for the following reasons :

1. To obtain loans or investments

It would be virtually impossible for a startup to secure capital without a business plan—they’re considered that essential.

That’s because business plans establish the viability of a business, which is something any bank or venture capitalist needs to be convinced of before funding a venture.

2. To prevent mistakes

Unfortunately, most startups don’t even last 5 years. There are a number of different reasons for this, but some of the main ones include: tough competition, low demand for what they’re selling, a poor pricing model, an inadequate team, and an inability to secure that all-important funding we just mentioned.

A good business plan helps companies anticipate these types of problems, so they can prevent them.

3. To examine viability

The idea for a startup is often met with a lot of enthusiasm. That vending machine featuring high-end desserts and pastries? Brilliant!

However, sometimes that enthusiasm needs to be tempered by reality. A business plan offers a great opportunity to do that, because it gets entrepreneurs to think through the answers to questions they may never have even considered, like “Is there a demand in this neighborhood for desserts?” and “How many businesses are already selling desserts in this location?

4. To reduce risk

Flying by the seat of your pants in the business world is not the best idea. A business plan clearly lays out a company’s objectives, as well as the landscape of the market.

As a result, business leaders know which challenges to expect. With that knowledge in hand, they can take proactive steps to mitigate their risks.

5. To accelerate growth

Quite simply, business planning works. In fact, according to one study, companies that plan grow 30% faster than those who don’t. And, interestingly enough, another study found that 71% of fast-growing companies (those defined as having 92% growth in sales from one year to the next) have business plans.

6. To identify problems with cash flow

Business plans contain 3 financial statements: a balance sheet, an income statement, and a cash flow statement. For startups, these numbers are projected.

When entrepreneurs have these numbers to refer to, they can more easily monitor cash flow, comparing reality to their projections. This gives them the opportunity to quickly deal with cash flow challenges, should any arise.

7. To make decisions

When faced with tough business decisions, it can be difficult to know which path to choose. However, with a business plan in hand, entrepreneurs can make well-thought-out decisions based on the analysis they’ve already performed.

As you can see, there are tons of great reasons to create a business plan, particularly for start-ups and other new businesses. However, even well-established businesses can benefit from a business plan.

Not only does a business plan provide a valuable overview of an entire company, but it’s also an excellent tool for pinpointing potential challenges, so they can be proactively addressed and resolved.

There may be nothing more critical to your company’s success than a business plan. That’s why it’s so important to understand how to write a business plan, and to devote time and effort to creating a solid, well-researched one.

The elements of a business plan are fairly straightforward. While no two business plans are identical, most of them rely on the following structure:

1. Executive summary

Business plans typically run dozens of pages long. While, ideally, you’d like to think that people will read your entire plan, there’s no guarantee of that—which is why the executive summary is the most important part of your business plan.

In the summary, you’ll want to provide readers with a quick synapsis that explains what your company is and why it’ll be successful.

This summary should include your company’s mission statement and a description of the product or service you provide. You’ll also want to briefly touch on the company’s founders, employees, location, and financial growth.

Aim to make your executive summary about 4 pages max , and don’t write it until you’ve completed the rest of your business plan. That’ll make it easier to summarize all the information your plan contains.

2. Company description

This detailed overview of your company includes such things as the problems your business solves, as well as the customers it serves. You should view this section as your opportunity to shine by also explaining your business’ competitive advantages.

3. Market analysis

What’s the outlook of the industry you’re in? Who’s your target market and how do you plan to reach the people in it? These are the types of questions you’ll answer in this section of your business plan.

Additionally, you’ll want to use the Market Analysis section to perform a competitor analysis, identifying who the major players are in your industry, as well as their strengths and weaknesses.

By understanding what’s working well for your competitors—and what isn’t—you’ll be better able to determine how you can grab some of their market share.

4. Organization & management

How will your business be structured—as a sole proprietorship, corporation, partnership, or LLC? Include that information in this section, as well as an organization chart showing who’s heading up your company. You may also want to include resumes or CVs for key team members here too.

5. Service or product line

This section should explain what you sell, how it helps customers, and what the product lifecycle looks like. This is where you’ll also want to mention any patents or copyrights.

6. Marketing & sales

How do you intend to attract customers? What marketing channels will you use? What’s your strategy for growth? Think carefully about your answers to these questions, because later, you’ll use this information to make your financial projections.

7. Funding request

If one of the objectives of your business plan is to obtain funding, this section should be included in your plan. When you write your funding request, you’ll want to explain what your funding requirements are over the next 5 years and how those funds will be used.

Additionally, this section should specify , “whether you want debt or equity, the terms you’d like applied, and the length of time your request will cover.”

8. Financial projections

Financial projections are a key part of your plan, particularly if you’re seeking funding. In this section, you’ll want to include financial projections for the next five years, as well as explain how you came up with those figures.

Your projections should include cash flow statements, balance sheets, income statements, and capital expenditure budgets. If your business is operational already, you’ll also want to include the past 3-5 years of those same documents.

9. Appendix

Think of this section as your final opportunity to convince readers of your business’ success. So, this is where you can include supporting documentation, like product pictures, reference letters, permits, patents, legal documents, contracts, credit histories, etc.

And there you have it! Once you’ve finished the analysis required for each of these elements—and typed your findings into a well-formatted document–your business plan will be complete.

Understanding the business planning cycle

After you’ve completed the business planning process, your work—while not over—gets easier. Your job now is to review the business plan periodically to see how well your company is achieving its objectives.

Did you meet your financial projections? In what areas is your company doing well? How is it falling short? Are there any new opportunities for your organization?

During this period of analysis, you’ll ideally want to set 1-year and 3-year goals , as well as key performance indicators (KPIs). These will help you track on a quarterly, or even monthly, basis how well your company’s meeting its objectives.

Most businesses engage in business planning on an annual or quarterly basis. Truly, it depends on how much time your organization has to devote to the task, as well as the industry you’re in.

For smaller businesses, a good aim is to perform the business planning process once a year. For larger companies—or ones where the market changes frequently—you may want to “plan to plan” every quarter.

Business Planning Template - MindManager Blog

Generally speaking, most business plan templates will include the following key elements and information. We’ve provided a downloadable MindManager template below that you can use to create your own business plan.

Section 1: Executive summary

The executive summary is the most important part of your business plan, so you’ll really want to put time and effort into getting it just right.

Make sure to include the following elements :

  • Explain the mission of your company – what is the reason for your company?
  • Describe your product or service – what types of products and services will you offer customers?
  • Introduce the company founders – who are your company’s founders, and what roles will they play within your organization?
  • Briefly provide information about your customer base – which customers will your business target, and how will your company serve them?
  • Provide an overview of your competitors – explain why your business will succeed by identifying your competitive advantage and describing how you’ll get market share.
  • Summarize your financial projections – what financial growth do you expect your company to achieve over the next few years?
  • Mention financing requirements – if your business is a start-up seeking financing, briefly mention those financial requirements here.

If you want a good idea of what your completed executive summary should look like, you can check out an example of one here.

Section 2: Company overview

In this section, you’ll want to go into greater detail than you did in the executive summary, explaining which problems your business solves, who its customers are, and what competitive advantages your company has.

Here are the important elements you’ll want to include :

  • Provide an overview of your company – what’s its mission, vision, and purpose?
  • Give background about the formation of your company – when did your company form?
  • Explain who your company’s founders are – what backgrounds do they have that make them uniquely qualified to run your business successfully?
  • Provide geographic information – where is your business located and in which markets do you have a presence?
  • Describe your company’s competitive advantages – while this was briefly touched upon in the executive summary, you’ll want to provide more information here about why your company will be successful.

Section 3: Market analysis

In this section, you want to prove the viability of your business by providing solid market research about your industry.

To achieve this goal, you’ll want to include the following in this section:

  • Identify your target market – who are you trying to sell your products and services to?
  • Describe the need for your products or services – why do you anticipate demand for your company’s offerings?
  • Give information about the overall market size – how big is the market? How much do you expect your company to sell? Are there any demographic or geographic factors that might impact your sales projections?
  • Identify the competition – who are your company’s main competitors? What advantages and disadvantages do they have? What’s their percentage of market share? How much do they sell annually?
  • Perform a SWOT analysis – identify your company’s strengths, weaknesses, opportunities, and strengths.

For help writing this section, you may find it useful to look at this marketing analysis example .

For the competitor and SWOT analyses, we recommend an information visualization software, like MindManager. View the SWOT analysis template at the end of this article.

Section 4: Organization & management

In this section, you want to give readers a solid overview of how your company will be structured. To do that, you’ll want to answer the following questions :

  • Describe the legal structure of your business – is it a sole proprietorship, corporation, partnership, or LLC?
  • Identify your management team – name the key roles within your organization, identify who will fulfill them, and explain how those individuals will be compensated. You may want to include an organization chart here too, as well as brief resumes or CVs for key team members.

Section 5: Service or product line

In this portion of the business plan, you’ll want to provide more information about the product or service you provide. So, make sure to include these elements here :

  • Describe the product or service you sell – what are you offering and how does it help customers?
  • Explain the product lifecycle – how long does it take to bring new products/services to market?
  • Provide pricing information – how will you price your products or services? What will your operating costs be?
  • Describe how you’ll acquire products – are you the manufacturer? If not, who is? Are you working directly with a manufacturer or are you going through a wholesaler? If product demand suddenly increases, what’s the likelihood you’ll experience supply problems?

Section 6: Sales and marketing strategy

Your customer acquisition strategy is especially important to potential investors, so you’ll definitely want to be thorough here. Plus, later you’ll be using this information to make financial projections, so take your time when writing this part of your plan.

  • Describe the customer acquisition process – how will you find and attract customers? For instance, will you use salespeople, call centers, social media ads, etc.?
  • Explain any promotional methods you plan on using – will you offer free samples or perform product demonstrations?
  • Provide information about the marketing materials you intend to use – like brochures, flyers, trade show booths, etc.
  • Estimate your advertising budget – how much will you have to spend to achieve your marketing objectives?

Section 7 – Funding request

This section is only necessary if you’re seeking business funding. If you are, you’ll want to include the following information in your business plan:

  • Identify your funding requirements – how much money are you requesting and how will those funds be used?
  • Describe the terms you’re seeking – do you want debt or equity? Which terms do you want applied? What length of time does your request cover?

Section 8 – Financial projections

As you might imagine, financial projections are a key part of your plan, especially if you’re seeking funding. So, in this section, you’ll want to make sure you include :

  • 5 years of projected cash flow statements, balance sheets, income statements, and capital expenditure budgets – these documents should also explain how you came up with the figures you’re using.
  • If your business is already up and running, you’ll also want to include the past 3-5 years of those same documents.

Of course to create these financial projections, you’ll need to have the right software. Two good ones to check out are ProjectionHub and PlanGuru .

These forecasting software packages make it easy to create the kinds of financial statements you’ll want to include in your business plan.

Section 9 – Appendix

This is your last chance to convince readers your business will be a success. So, if you have additional information to give your business plan more weight, you’ll want to incorporate it here. Consider including the following in this section:

  • Product pictures
  • Reference letters
  • Legal documents
  • Credit histories

And that’s it! After you’ve completed these sections, just assemble them into a single document, format everything neatly, add a table of contents, and your business plan will be complete.

Afterwards, you can use it to obtain loans, determine viability, reduce risk, assess cash flow problems, make decisions, and accelerate business growth—making it well-worth the time and effort it takes to write your plan.

business planning department

How Visualization Leads to Better Strategic Plans

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Write your business plans in MindManager

Download the business planning and SWOT analysis templates below by clicking Menu > Download. You can then open the templates in MindManager.

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6 steps for operations leaders to build a better annual plan

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An effective annual plan is critical to keep your teams, departments, and company together, working toward the same goals. 

As an operations leader, you oversee how your organization runs its business. By reviewing how your company performed in the past year, you and your operations teams can identify which strategies worked—and which fell short—to build an effective annual plan designed to maximize the impact of every department.

Here’s what you need to know about building a successful annual plan.

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Annual plans drive clarity and accountability 

With an annual plan, departments can start the year off with a strong understanding of the overall vision and how their work contributes to larger business goals. Without an overarching plan, it can be difficult to understand how a specific project or initiative moves the business forward. 

Clear goals establish benchmarks for project progress

Your annual plan shouldn’t be a set-it-and-forget-it goal. Rather, periodically check project progress against your annual plan so you can see how your operations teams are doing. Doing this throughout the year will not only give you a sense of how your teams are tracking towards their overall goals—it can also help you understand if they’re ahead or behind schedule, and adjust accordingly. 

If you notice that a specific initiative is not on track to meet the strategic goals outlined in your company’s annual plan, you can use this data to pivot and double down on—or divest from—specific initiatives. 

Establish concrete goals for a specific time period

The more specific your goal, the more concrete your action plan. Providing detailed and specific goals gives your employees a clear understanding of what work to prioritize and what deliverables they’re responsible for. 

Make sure your goals are measurable, as well. Clear KPIs and OKRs demonstrate how tangible work connects back to larger business goals. 

6 steps for annual business planning

The annual planning process often takes place near the end of the calendar year or at the end of your company’s fiscal year. As you get closer to annual planning time, consider these six steps of the annual planning process. 

1. Reflect on previous strategies—and develop new ones

Before your business can start planning for next year, ask yourself, your stakeholders, and your operations teams: How did we perform against the strategies laid out in last year’s annual plan?

No matter the answer, use these recent data points to steer your decision-making when building your next annual plan. That could mean doubling down on big programs or initiatives born in the last year—or going a different direction entirely. 

A well-built annual plan factors in reflection on what did and didn’t work—and improves off of it.

2. Transform your business’s greatest needs into goals

After reflecting on last year’s performance, hone in on the most significant growth and improvement opportunities. Use this for guidance as you construct company- and department-wide goals.

It helps to have a consistent framework for goals across the business, to accelerate the goal-setting process and ensure greater understanding of goals within all corners of the organization.

The exact goal framework you use will depend on your company, but a few good ones to consider are: 

The Objectives and Key Results (OKR) method , which helps your business set goals using the framework “I will [objective] as measured by [key result].”

Key Performance Indicators (KPIs) , which use leading and lagging indicators to track how you’re performing towards your goals. 

The SMART goals framework , which helps ensure the goals your organization sets are specific, measurable, achievable, realistic, and time-bound.

3. Create an action plan to maximize impact

The next step is to create an action plan for your business to achieve the goals outlined in step three. Your action plan should outline the list of steps your teams need to take to accomplish their goals. Think of an action plan like the map you’ll use to arrive at your final destination. 

From there, delegate the work laid out in the action plan to specific teams and departments. Connecting the work that your operations teams complete to larger company goals makes it easier for each team to understand the impact their work has on the business.

4. Ensure the annual plan is everyone’s plan

Not everyone can be involved in building the annual plan for your company—but every team member should feel like their work is seen and accounted for in the plan. 

As the annual plan comes together, meet with leaders and employees across the business to ensure varying perspectives and priorities are factored into the final product. This step is critical for getting buy-in and generating excitement across the business. 

You don’t want to be in a position where you’re just telling everyone what the annual plan is—you want to bring every department along for the journey and get them excited about what they’re working toward in the coming year. Consider conducting a presentation to not only share the company plan and why this plan matters, but also to outline timelines and how departments will use it to achieve the company’s goals. 

5. Execute your strategy, monitor metrics, and adjust as needed

At this point, your organization’s annual plan is completed, but nothing is ever fully set in stone. As the year progresses, make sure you’re continually monitoring success metrics and KPIs. If the results of your strategies are not behaving as you expected them to, it’s important to adjust so your business will still hit the goals outlined in your annual plan. 

6. Repeat again for next year 

At the end of the year, it’s time to start the process over again. Align with your strategic plan, look back at the past year’s results, and create another plan to achieve those business goals. 

What does a good annual plan include?

Effective annual plans should contain components that are essential for completing the work outlined in the plan itself, and context for why this plan will be effective. Here are a few examples of components you would find in an annual plan:

Reports of the previous year’s performance: Your company’s annual plan for the upcoming year should be based on the data from the previous year’s performance. This provides context for your teams as to what they’re capable of doing within one calendar year.

Budget estimates: A common KPI investors track is return on investment (ROI). Knowing how much money different teams are spending makes it easier for your organization to calculate ROI and adjust strategies. Providing budget estimations also gives departments the context they need for the amount of resources they have at their disposal for the year.

Clear and specific goals: Annual plans should use the SMART goal framework so that your company can easily measure progress and report back on it later. 

Important milestones: Your business can accomplish a lot of work within one year—but to do that, each department needs to know how they're doing. Milestones operate like checkpoints, giving teams and departments a sense of direction and an idea of how they're pacing against annual goals.

Project buffers and contingency plans: Unexpected things happen all the time, and it’s better to be prepared than caught off guard. Develop a contingency plan for how your organization will get back on track in the event of an unexpected roadblock. Also set aside some resource buffers, such as a small portion of your company’s budget, to accommodate for unexpected expenses.

Gear up for next year

After a year of hard work, it’s time to reflect back and plan for more great things in the future. While annual planning takes time, collaboration, and thoughtful strategy, the efforts show in the form of your business success. 

Still have questions? We have answers. 

What is annual planning.

Annual planning is the act of developing a strategy for the upcoming year based on the learnings from the current year’s performance. This provides an opportunity for your operations teams to iterate on strategy from the past year and incorporate those learnings into your upcoming plans. 

In essence, your annual plan should contain: 

The goals your business needs to achieve

A strategy for how your organization will hit those goals

Clear tactics for what each department will work on

Any important milestones that benchmark progress

What’s the difference between annual planning and strategic planning? 

Strategic planning and annual planning are both important business planning methods that help set your team's strategy for the future. However, the scale of these planning strategies are different.

Strategic planning is the long-term strategy for your business. This encompasses a basic roadmap of how business should develop within three to five years. You will use your strategic planning process to inform your annual plan. 

Annual planning represents all of the goals and strategies that you want your business to achieve, similar to a strategic goal. The main difference here is that an annual plan only encompasses one calendar year, instead of a few years. If you think of it like a pie, annual planning is just one slice of the larger strategic plan pie.

When should your operations teams start annual planning?

Begin your annual planning process during Q4, so you can begin day one of Q1 with your plan in hand. If that’s not an option, do your annual planning as close to the start of the new year as possible. 

There are two benefits to planning earlier. First off, you’ll beat the end-of-year crunch, and avoid the stress that traditionally comes with the end of the year. Additionally, if you run an efficient annual planning process with your leadership team, your operations teams will still be free to execute on high-impact projects throughout Q4.

Table of Contents

What is a business plan, the advantages of having a business plan, the types of business plans, the key elements of a business plan, best business plan software, common challenges of writing a business plan, become an expert business planner, business planning: it’s importance, types and key elements.

Business Planning: It’s Importance, Types and Key Elements

Every year, thousands of new businesses see the light of the day. One look at the  World Bank's Entrepreneurship Survey and database  shows the mind-boggling rate of new business registrations. However, sadly, only a tiny percentage of them have a chance of survival.   

According to the Bureau of Labor Statistics, about 20% of small businesses fail in their first year, about 50% in their fifth year.

Research from the University of Tennessee found that 44% of businesses fail within the first three years. Among those that operate within specific sectors, like information (which includes most tech firms), 63% shut shop within three years.

Several  other statistics  expose the abysmal rates of business failure. But why are so many businesses bound to fail? Most studies mention "lack of business planning" as one of the reasons.

This isn’t surprising at all. 

Running a business without a plan is like riding a motorcycle up a craggy cliff blindfolded. Yet, way too many firms ( a whopping 67%)  don't have a formal business plan in place. 

It doesn't matter if you're a startup with a great idea or a business with an excellent product. You can only go so far without a roadmap — a business plan. Only, a business plan is so much more than just a roadmap. A solid plan allows a business to weather market challenges and pivot quickly in the face of crisis, like the one global businesses are struggling with right now, in the post-pandemic world.  

But before you can go ahead and develop a great business plan, you need to know the basics. In this article, we'll discuss the fundamentals of business planning to help you plan effectively for 2021.  

Now before we begin with the details of business planning, let us understand what it is.

No two businesses have an identical business plan, even if they operate within the same industry. So one business plan can look entirely different from another one. Still, for the sake of simplicity, a business plan can be defined as a guide for a company to operate and achieve its goals.  

More specifically, it's a document in writing that outlines the goals, objectives, and purpose of a business while laying out the blueprint for its day-to-day operations and key functions such as marketing, finance, and expansion.

A good business plan can be a game-changer for startups that are looking to raise funds to grow and scale. It convinces prospective investors that the venture will be profitable and provides a realistic outlook on how much profit is on the cards and by when it will be attained. 

However, it's not only new businesses that greatly benefit from a business plan. Well-established companies and large conglomerates also need to tweak their business plans to adapt to new business environments and unpredictable market changes. 

Before getting into learning more about business planning, let us learn the advantages of having one.

Since a detailed business plan offers a birds-eye view of the entire framework of an establishment, it has several benefits that make it an important part of any organization. Here are few ways a business plan can offer significant competitive edge.

  • Sets objectives and benchmarks: Proper planning helps a business set realistic objectives and assign stipulated time for those goals to be met. This results in long-term profitability. It also lets a company set benchmarks and Key Performance Indicators (KPIs) necessary to reach its goals. 
  • Maximizes resource allocation: A good business plan helps to effectively organize and allocate the company’s resources. It provides an understanding of the result of actions, such as, opening new offices, recruiting fresh staff, change in production, and so on. It also helps the business estimate the financial impact of such actions.
  • Enhances viability: A plan greatly contributes towards turning concepts into reality. Though business plans vary from company to company, the blueprints of successful companies often serve as an excellent guide for nascent-stage start-ups and new entrepreneurs. It also helps existing firms to market, advertise, and promote new products and services into the market.
  • Aids in decision making: Running a business involves a lot of decision making: where to pitch, where to locate, what to sell, what to charge — the list goes on. A well thought-out business plan provides an organization the ability to anticipate the curveballs that the future could throw at them. It allows them to come up with answers and solutions to these issues well in advance.
  • Fix past mistakes: When businesses create plans keeping in mind the flaws and failures of the past and what worked for them and what didn’t, it can help them save time, money, and resources. Such plans that reflects the lessons learnt from the past offers businesses an opportunity to avoid future pitfalls.
  • Attracts investors: A business plan gives investors an in-depth idea about the objectives, structure, and validity of a firm. It helps to secure their confidence and encourages them to invest. 

Now let's look at the various types involved in business planning.

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Business plans are formulated according to the needs of a business. It can be a simple one-page document or an elaborate 40-page affair, or anything in between. While there’s no rule set in stone as to what exactly a business plan can or can’t contain, there are a few common types of business plan that nearly all businesses in existence use.  

Here’s an overview of a few fundamental types of business plans. 

  • Start-up plan: As the name suggests, this is a documentation of the plans, structure, and objections of a new business establishments. It describes the products and services that are to be produced by the firm, the staff management, and market analysis of their production. Often, a detailed finance spreadsheet is also attached to this document for investors to determine the viability of the new business set-up.
  • Feasibility plan: A feasibility plan evaluates the prospective customers of the products or services that are to be produced by a company. It also estimates the possibility of a profit or a loss of a venture. It helps to forecast how well a product will sell at the market, the duration it will require to yield results, and the profit margin that it will secure on investments. 
  • Expansion Plan: This kind of plan is primarily framed when a company decided to expand in terms of production or structure. It lays down the fundamental steps and guidelines with regards to internal or external growth. It helps the firm to analyze the activities like resource allocation for increased production, financial investments, employment of extra staff, and much more.
  • Operations Plan: An operational plan is also called an annual plan. This details the day-to-day activities and strategies that a business needs to follow in order to materialize its targets. It outlines the roles and responsibilities of the managing body, the various departments, and the company’s employees for the holistic success of the firm.
  • Strategic Plan: This document caters to the internal strategies of the company and is a part of the foundational grounds of the establishments. It can be accurately drafted with the help of a SWOT analysis through which the strengths, weaknesses, opportunities, and threats can be categorized and evaluated so that to develop means for optimizing profits.

There is some preliminary work that’s required before you actually sit down to write a plan for your business. Knowing what goes into a business plan is one of them. 

Here are the key elements of a good business plan:

  • Executive Summary: An executive summary gives a clear picture of the strategies and goals of your business right at the outset. Though its value is often understated, it can be extremely helpful in creating the readers’ first impression of your business. As such, it could define the opinions of customers and investors from the get-go.  
  • Business Description: A thorough business description removes room for any ambiguity from your processes. An excellent business description will explain the size and structure of the firm as well as its position in the market. It also describes the kind of products and services that the company offers. It even states as to whether the company is old and established or new and aspiring. Most importantly, it highlights the USP of the products or services as compared to your competitors in the market.
  • Market Analysis: A systematic market analysis helps to determine the current position of a business and analyzes its scope for future expansions. This can help in evaluating investments, promotions, marketing, and distribution of products. In-depth market understanding also helps a business combat competition and make plans for long-term success.
  • Operations and Management: Much like a statement of purpose, this allows an enterprise to explain its uniqueness to its readers and customers. It showcases the ways in which the firm can deliver greater and superior products at cheaper rates and in relatively less time. 
  • Financial Plan: This is the most important element of a business plan and is primarily addressed to investors and sponsors. It requires a firm to reveal its financial policies and market analysis. At times, a 5-year financial report is also required to be included to show past performances and profits. The financial plan draws out the current business strategies, future projections, and the total estimated worth of the firm.

The importance of business planning is it simplifies the planning of your company's finances to present this information to a bank or investors. Here are the best business plan software providers available right now:

  • Business Sorter

The importance of business planning cannot be emphasized enough, but it can be challenging to write a business plan. Here are a few issues to consider before you start your business planning:

  • Create a business plan to determine your company's direction, obtain financing, and attract investors.
  • Identifying financial, demographic, and achievable goals is a common challenge when writing a business plan.
  • Some entrepreneurs struggle to write a business plan that is concise, interesting, and informative enough to demonstrate the viability of their business idea.
  • You can streamline your business planning process by conducting research, speaking with experts and peers, and working with a business consultant.

Whether you’re running your own business or in-charge of ensuring strategic performance and growth for your employer or clients, knowing the ins and outs of business planning can set you up for success. 

Be it the launch of a new and exciting product or an expansion of operations, business planning is the necessity of all large and small companies. Which is why the need for professionals with superior business planning skills will never die out. In fact, their demand is on the rise with global firms putting emphasis on business analysis and planning to cope with cut-throat competition and market uncertainties.

While some are natural-born planners, most people have to work to develop this important skill. Plus, business planning requires you to understand the fundamentals of business management and be familiar with business analysis techniques . It also requires you to have a working knowledge of data visualization, project management, and monitoring tools commonly used by businesses today.   

Simpliearn’s Executive Certificate Program in General Management will help you develop and hone the required skills to become an extraordinary business planner. This comprehensive general management program by IIM Indore can serve as a career catalyst, equipping professionals with a competitive edge in the ever-evolving business environment.

What Is Meant by Business Planning?

Business planning is developing a company's mission or goals and defining the strategies you will use to achieve those goals or tasks. The process can be extensive, encompassing all aspects of the operation, or it can be concrete, focusing on specific functions within the overall corporate structure.

What Are the 4 Types of Business Plans?

The following are the four types of business plans:

Operational Planning

This type of planning typically describes the company's day-to-day operations. Single-use plans are developed for events and activities that occur only once (such as a single marketing campaign). Ongoing plans include problem-solving policies, rules for specific regulations, and procedures for a step-by-step process for achieving particular goals.

Strategic Planning

Strategic plans are all about why things must occur. A high-level overview of the entire business is included in strategic planning. It is the organization's foundation and will dictate long-term decisions.

Tactical Planning

Tactical plans are about what will happen. Strategic planning is aided by tactical planning. It outlines the tactics the organization intends to employ to achieve the goals outlined in the strategic plan.

Contingency Planning

When something unexpected occurs or something needs to be changed, contingency plans are created. In situations where a change is required, contingency planning can be beneficial.

What Are the 7 Steps of a Business Plan?

The following are the seven steps required for a business plan:

Conduct Research

If your company is to run a viable business plan and attract investors, your information must be of the highest quality.

Have a Goal

The goal must be unambiguous. You will waste your time if you don't know why you're writing a business plan. Knowing also implies having a target audience for when the plan is expected to get completed.

Create a Company Profile

Some refer to it as a company profile, while others refer to it as a snapshot. It's designed to be mentally quick and digestible because it needs to stick in the reader's mind quickly since more information is provided later in the plan.

Describe the Company in Detail

Explain the company's current situation, both good and bad. Details should also include patents, licenses, copyrights, and unique strengths that no one else has.

Create a marketing plan ahead of time.

A strategic marketing plan is required because it outlines how your product or service will be communicated, delivered, and sold to customers.

Be Willing to Change Your Plan for the Sake of Your Audience

Another standard error is that people only write one business plan. Startups have several versions, just as candidates have numerous resumes for various potential employers.

Incorporate Your Motivation

Your motivation must be a compelling reason for people to believe your company will succeed in all circumstances. A mission should drive a business, not just selling, to make money. That mission is defined by your motivation as specified in your business plan.

What Are the Basic Steps in Business Planning?

These are the basic steps in business planning:

Summary and Objectives

Briefly describe your company, its objectives, and your plan to keep it running.

Services and Products

Add specifics to your detailed description of the product or service you intend to offer. Where, why, and how much you plan to sell your product or service and any special offers.

Conduct research on your industry and the ideal customers to whom you want to sell. Identify the issues you want to solve for your customers.

Operations are the process of running your business, including the people, skills, and experience required to make it successful.

How are you going to reach your target audience? How you intend to sell to them may include positioning, pricing, promotion, and distribution.

Consider funding costs, operating expenses, and projected income. Include your financial objectives and a breakdown of what it takes to make your company profitable. With proper business planning through the help of support, system, and mentorship, it is easy to start a business.

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How to Create a Strategic Plan for Your Government Department or Agency

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Budgets and deadlines are two of the most crucial elements when it comes to getting things done in a local government. To be as efficient as possible, you’ll need a robust strategic plan for your government department that outlines how you’ll spend your provincial budget and how you and your subcontractors will achieve public project deadlines. Building a long-term and multiyear strategic plan with goals and objectives can be challenging. We also understand how complicated it is to transform your ideas into tangible results for your community, and we’re here to help. 

In This Article

Why Government Departments and Agencies Need Strategic Plans

Why current government strategic processes and tools fall short, conduct internal and external analysis, consider the vision and mission , perform a holistic risk-assessment , list the focus areas , develop strategic objectives, set up an actionable game plan , utilize measurable kpis , put the plan into action , evaluate the results , transform government strategic planning and execution with achieveit, ready to accelerate your planning and execution efforts let’s actually do this..

Why should the state and municipal governments consider strategic planning? Isn’t having a yearly budget sufficient? After all, things may change when heavy rains overflow the city sewers or roadway repairs exceed the budget. What difference does additional planning make? What exactly is department strategic planning? 

A department strategic plan is a comprehensive and systematic management tool that assists governmental departments, agencies and organizations in assessing their current environment, anticipating changes and responding appropriately to issues. Strategic planning involves envisioning the future, improving effectiveness, developing commitment to the department’s mission and reaching a consensus on strategies and objectives for achieving that mission. It involves influencing the future rather than merely preparing for or responding to it. 

While combining community vision with available resources is critical, the resources should not stifle the vision. The objectives of a departmental strategic plan will involve identifying how the resources available may be linked to future ambitions. A long-term financial plan, created with the department strategy plan, is crucial to the departmental strategic planning process. A government should have an established financial planning mechanism that evaluates the long-term economic consequences of current and planned policies and programs. A financial plan depicts the expected financial repercussions of certain activities. 

Regarding strategic planning in government positions, the notion is that leaders must be good strategists if their departments and agencies are to achieve their goals, accomplish their mandates and, most importantly, satisfy their communities in the coming years. The strategic planning department must lay out effective strategies to deal with changing conditions and governmental leaders must create a cohesive and defensible framework for their judgments. Ultimately, a department strategy provides a big-picture document that directs resources and activities toward a well-defined vision. 

A state department strategic plan is a long-term commitment to various governmental objectives. Selecting the correct solutions to support the department’s strategic plan is critical to attaining them. The strategic planning department requires integrated and holistic systems and tools to increase productivity and improve the overall management of the various objectives while keeping operations running smoothly. An adequate system also keeps communication channels open between different departments. 

Many procedures and systems on the market can help manage a department’s strategic plan but mainly focuses on short-term success. Business intelligence, project management, strategy development tools and other mainstream options focus on something other than integrated plans that span departments and locations. Each focuses on a specific function of planning, developing, executing or reporting strategies, so finding a single system that keeps everything in one secure place is challenging. 

Why Current Government Strategic Processes and Tools Fall Short

Taking an analytical look into these traditional options, we can see some pros to utilizing them. Still, some cons can lead to your government’s strategic processes falling short: 

  • Business intelligence tools: Although business intelligence tools provide visual dashboards, reports and a data-driven understanding of how the government is performing, they miss the “why” behind the strategic plan — the vision and future forecasts. 
  • Project management tools: These tools are excellent for providing detailed project statuses but lack the big-picture view and are typically challenging to use and connect with other projects. 
  • Strategy management tools: Strategy development tools can most certainly help organize plans and foster project alignment. However, these tools are less proficient at enabling the effective execution of these plans. They have limited flexibility and make it difficult to manage multiple plans across the agency. 
  • Mainstream tools: You might recognize mainstream and user-friendly tools like PowerPoint and Excel. Despite being customizable, these tools lack format and version control. 

Strategic planning in government can be challenging. You must include stakeholder input, ensure that your department’s strategy is consistent across all municipal agencies, connect capital projects to multiple plans and ensure that everyone engaged is on board with the strategy. The good news is that it’s possible and the approach may be more straightforward than you think. 

Follow these tips for creating your government agency’s strategic plan: 

Conduct Internal and External Analysis

Conduct an environmental scan, where the local government can investigate and assess the current and developing factors within their own area’s internal and external environments. The internal and external analysis provides detailed information on the government’s existing conditions, including prospective opportunities, strengths, threats and weaknesses to control or prevent. 

An internal analysis looks at the government’s internal environment to analyze its abilities, resources and competitive advantages. An internal analysis helps you identify strengths and weaknesses and the opportunities and threats that government departments or agencies face. This information assists government officials in making strategic decisions as they carry out the strategy development and implementation process. In a nutshell, the following topics should be included in your internal analysis: 

  • SWOT Analysis: Conducting a SWOT analysis can help you comprehensively understand your area’s strengths, weaknesses, opportunities and threats. 
  • Strategy analysis: This analysis assists you in evaluating how well you performed against your current department strategy plan, what you can improve on and where you can focus your efforts. 
  • Internal stakeholder analysis: This analysis enables you to gain insight into the issues and perspectives of your area’s internal stakeholders and their influence. 
  • VRIO Analysis: A VRIO analysis can assist you in identifying any competitive advantages you may have and how to convert them into long-term competitive advantages. 

An external analysis investigates and evaluates the government’s external environment to understand possibilities and risks in its area. Forces outside a local government’s immediate control affect them, and they need to be able to plan accordingly. For example, changes in legislation and policies, demographic shifts or climate concerns can influence a government’s decisions. An external analysis should usually consider the following: 

  • PESTEL analysis: Conducting a PESTEL analysis can help you discover the many scopes that may influence an area. 
  • External stakeholder analysis: This analysis enables you to gain insight into the issues and perspectives of your local government’s external stakeholders and their influence. 

The government’s vision statement defines where they want to go — it’s the anchor that keeps them from being stranded at sea. A clear vision statement will aid in directing the strategic plan toward the best results for the community. Everything written into the plan will eventually help the government department or agency get closer to its vision. Additionally, your local government should base its department’s strategic plan on its mission statement. Consider asking the following questions to articulate the critical components of the strategy: 

  • What are the top concerns that your government must address?
  • Which forthcoming public projects are most important to your constituents? 

Every government has risks that require attention through policy and infrastructure developments. A comprehensive assessment of the different risks to your community may include the following:

  • National issues: At the federal level, social and economic concerns arise and citizens on both sides may be dissatisfied with their government’s shortcomings. Considering which issues are most essential at the national level can enable your community to make localized efforts to address them. 
  • Constituent dissatisfaction: Angry constituents equals a poor reelection campaign. To avoid unfavorable government-constituent relations, your local government should examine which topics are most beneficial to your community and analyze these concerns. 
  • Economic hardship: Local governments must examine the impact of inflation on local companies, citizens and budgets. 
  • Natural disasters: Which natural disasters are the greatest threat to your area? What steps have been taken or are being made to address these events, reduce risks and communicate with the public? 
  • Cybercrime: Cybercriminals have been creating data breaches in municipal governments for years, and attacks are increasing daily. Have your local government invested in cyber-safe technologies and backed up its data? 
  • International challenges: Do you need help attracting new government employees due to intergovernmental challenges? Do your internal procedures need to be more effective and costly? Do you have an up-to-date information technology strategy? One of the leading reasons for inefficient bureaucracy is a failure to recognize and handle such difficulties. 
  • Public policies: Which national and state legislation are the most important for your municipality to handle in the near future in terms of public policy? What consequences will you face if you do not address these policies? 

After reviewing all the significant risks, it’s time to prioritize the most critical ones and develop a strategy to manage them. List the top focus areas that are crucial to your citizens or represent significant risks to your community’s health, safety, quality and economy. Your focus areas should also align with the local government’s and community’s future aspirations. Although it would be ideal to address all areas immediately, it could be more realistic. Try to prioritize a few critical issues. 

Strategic objectives indicate what your city genuinely wants to achieve — they’re quite high-priority and should have a date attached. Your strategic goals should align with one or more of your focus areas and provide some tangibility to how you envision attaining your focus areas. Similar to selecting a few focus areas at a time, you can develop a few realistic and achievable strategic objectives. An example of a strategic objective can be to “improve the community’s safety by implementing a new reporting system by June 30, 2023.” 

Now that you’ve decided on the primary focus areas and objectives, it’s time to consider how to execute them. A game plan defines what the government will need to do to achieve its goals. An actionable game plan assists in breaking down the bigger picture into smaller, more attainable results and activities. At this phase in your strategic planning process, you will begin to define the steps you will take to attain specific goals and the talents, expertise and resources required. 

Utilize Measurable KPIs

KPIs track progress toward your strategic goals. KPIs are quantitative metrics that demonstrate your government’s progress toward essential strategic objectives. KPIs tell you whether or not you have met your strategic target. Once KPIs have been determined, describe who is responsible for what and give them a job using your local government management tool to keep everyone organized and accountable. 

Following your department’s strategy’s completion and policymakers’ approval of budgets and deadlines for major projects, it’s time to begin implementing your government initiatives. File requests for proposals (RFPs) for private-sector partnerships, fill out the necessary documentation and clarify who is doing what and when. 

Taking strategic action to address concerns entails some risk in and of itself. You’ll need to pay close attention to your KPIs and adjust if problems with fulfilling timelines and budgets develop. If such problems arise, you must assess whether parts of the process may be expedited using government technology. Automation will save you time and money while increasing the likelihood of project success in your management planning. 

A government strategic plan is the first vital step toward achieving governmental goals. The execution of these plans also plays a pivotal role in the goals’ success. A government runs high-level plans that cascade down and across multiple departments — which can make managing the execution of strategic plans more challenging. This is because different departments work with tools that support their specific work and role. As a result, information is stockpiled across these departments, making planning and organization a manual process. 

Transform your strategic planning and execution process with strategic planning software built for your organization. AchieveIt is a  FedRAMP-authorized cloud-based platform  that connects, manages and executes mission-critical plans and activities for federal government agencies. AchieveIt is a platform that easily tracks the performance of all your integrated plans while automating time-consuming update collection. Managing all these moving parts goes from multiple spreadsheets to a single, easy-to-use platform. 

By utilizing AchieveIt, federal government agencies can: 

  • Establish uniformity in data collection and reporting. 
  • Create visibility across plans and initiatives to know what needs attention. 
  • Promote accountability for mission execution. 
  • Make informed decisions with real-time data and proper context. 
  • Monitor the performance of long-term initiatives with dashboards and reports. 
  • Connect all its plans and strategies in one single place. 

Ready to Accelerate Your Planning and Execution Efforts? Let’s Actually Do This.

Do you need help developing and aligning your plans? Since planning and executing is more than just software, AcieveIt’s expert team will partner with you. Our strategy experts can ensure you stay on track and offer advice on how other federal agencies approach planning and execution. Allow AchieveIt to make your agency more efficient, so you can better serve the public while focusing on achieving mission-critical objectives.  Request a demo  or give us a call at  1-800-535-1559  today. 

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Your Expert Business Plan Consultant

Call Us Today at:

800-216–3710

What Makes Growthink Unique

Customized business plans.

We work closely with you to understand and improve your business model, target market, plans for securing funding and increasing sales, and other aspects of your unique vision to build a custom business plan and financial plan that will help you reach your company goals.

Experienced Consultants

Growthink’s business planning team has world-class academic, entrepreneurial, and financial backgrounds, including experience starting, financing, and growing businesses and working as angel, venture capital, and private equity investors.

Vast Client Experience

We have developed business plans for clients worldwide in hundreds of industries across every organizational type – startups, small businesses, mid-sized companies, large corporations, nonprofit and government organizations.

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Better Strategic Planning

We don’t just document your business ideas on paper. Our business plan consultants conduct market research and collaborate with you to create strategies for you to succeed in both today’s environment and over the long term.

$5+ Billion in Funding Raised

We are in constant contact with investors, lenders, and other funding sources. This enables our consultants to develop business plans and pitch decks that raise capital. Growthink clients have raised billions of dollars in debt and equity funding.

Expert Market Research

We have access to several market research databases to help you better understand the emerging trends in your industry and better identify your target markets, potential risks, and growth opportunities to develop a truly comprehensive business strategy.

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What the Media Says

Based on Growthink’s track record and leadership, the media constantly contacts us for advice and information on business planning and capital raising. In fact, multiple media sources refer to us as the “Business Plan Experts.”

Growthink has been featured in over 500 media sources including the following:

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We are also proud to have been selected as one of America’s Best Management Consulting Firms by Forbes Magazine and Statista.

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Speak With a Growthink Business Plan Consultant

Who we serve, early stage entrepreneurs, small businesses, mid-sized to larger companies, fortune 500 companies, nonprofit and government organizations, representative clients, sample clients who have entrusted growthink with developing their business plans include:.

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See what our clients have said about Growthink’s quality business plan consulting services:

Client success stories.

I was very impressed with how quickly Growthink grasped our unique industry and business.

In a short period of time, they completed research, a beautiful pitch deck and financial projections that we used in our Series A round, which closed successfully.      

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I worked with the team at Growthink to accelerate the development of the original Integreon business plan.

They are a sharp, creative, and results-focused group. I recommend them highly to companies of all sizes looking to turbo-charge the development of their strategic business plans and their businesses.

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We really appreciated working with you! The team you assembled, the quality of your work and the process you took us through really helped us in our thinking. It wasn’t just the meetings and reports you created, but also the structured process that forced us to really think through our target customers, our marketing process, our onboarding process, what technology we must deliver and when – all of that was super helpful.

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V Starr Interiors

I loved working with Growthink.

The staff are passionate about their work and committed to what they do in a way that can only be achieved when you love what you do. They helped keep us on track to achieve our planning goals.

I am looking forward to continued success working with everyone from Growthink in the future.

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I absolutely loved working with Growthink!

They listened to our objectives and truly understood what our mission was prior to beginning our project. They hit all their milestones on-time and on-point. They ultimately delivered a very valuable tool that will have tremendous use to us in our growth plan.

I highly recommend Antonio and the Growthink team.

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Our Story & Mission

In 1999, Growthink co-founders Dave Lavinsky and Jay Turo graduated with their MBAs from UCLA’s Anderson School of Management. They conceived Growthink from their deep and abiding passion and curiosity for business. As Turo says, “The work we do at Growthink is what Dave and I would just naturally do whenever we got together – talking about businesses we love and how to make them better.”

Growthink’s mission is to help executives and entrepreneurs grow their businesses so they can create jobs, offer customers better products and services, realize personal satisfaction and wealth, and fund programs that make the world a better place.

Speak with a Growthink business plan consultant today

What it’s like to work with a professional business plan consultant, our business plan consulting methodology, management interviews, strategic market research, draft plan & financial modeling, review & revise, package & finalize.

  • Management Interviews : In this first phase, we collect and document your “verbal” growth plan, including your vision, key accomplishments to date, challenges and opportunities, business objectives and goals, and growth strategies. In this phase we also identify and refine key research questions, and work to define and communicate an effective “story” for the business plan. Your “story” is what’s going to appeal to investors and lenders.
  • Strategic Market Research : In this phase, we size the relevant market place, analyze competitors, profile existing and prospective customer groups, and perform our due diligence to identify opportunities to grow your own business. Growthink also conducts “benchmarking research” — this involves identifying other companies that have succeeded and/or failed with similar businesses and/or initiatives.
  • Executive Summary
  • Company Analysis
  • Customer and Market Analyses
  • Industry and Competitive Analyses
  • Development, Operations and Marketing Plans
  • Management Team

We will also deliver your complete financial model at this time , including the financial projections .

  • Review and Revise : In this phase, we review the draft plan with you and discuss the focus, wording, and flow of the document. We incorporate any necessary revisions and refinements, and prepare the revised plan.
  • Package and Finalize : The final stage involves creating a clean, professional document, with graphical enhancements, that is copy-edited, formatted, and ready to be presented to stakeholders and investors.

Business Plan Consulting FAQs

A business plan consultant helps small business owners, entrepreneurs, start-ups, and established businesses develop business plans that will help them raise bank loans, equity funding and other forms of funding for their businesses. A quality business plan advisor will also ensure the business’ growth strategy is solid. We are the industry experts in helping many entrepreneurs, business owners, and executives create professional business plans that are well thought out to point your business in the right direction and powerful tools to convince potential investors to fund your project or lend you money.

Every business is unique, so there’s no cookie-cutter business plan. Every business owner has different strengths and weaknesses they bring to the table. We want our clients to get the most out of their business plan by solving problems, leveraging strengths, and highlighting new business opportunities for growth – all while taking it one step at a time.

Growthink starts with what’s important to you: What are your current challenges? What do you hope this business will achieve? Our business planning advisors are there to help make your vision a reality – whether through helping improve your day-to-day operations or providing the strategic planning necessary for companies on an upwards trajectory. Whatever stage you’re at in your company’s life cycle, our business plan consulting firm can help judge the needs of your business and provide solutions based on our years of experience working with companies in a variety of industries.

Read more about  Our Business Planning Process & Methodology .

Growthink’s business plan consultants can produce a custom business plan in as little as seven days, but it may vary depending on the complexity of the business.

The cost for professional business plan development services varies depending on the complexity of the company.

Business Plan Consultants Case Studies

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Fathead is the leading brand in sports and entertainment wall graphics with hundreds of officially licensed products. The Company’s product line-up includes Fathead Tradeables, Fathead Jr., Fathead Skins, Furniture for Fans, and of course, our “Real.Big®” Fathead, the officially licensed, life-size, hi-def wall graphics of professional athletes, animated heroes, entertainment characters, team helmets, and logos. Growthink was engaged to analyze trends within the market and create the Company’s strategic business plan. Since working with Growthink, Fathead was acquired by a leading conglomerate of sports and entertainment properties.

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Cardio Quick Systems

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Porsche Design

Porsche Design Group is a majority-owned subsidiary of Porsche. The company’s activities are focused on the business areas of Porsche Design, Porsche Design Driver’s Selection, and the Porsche Design Studio. Growthink was retained to design and draft a business plan to extend the Porsche unique male luxury brand positioning into the retail arena — specifically sunglasses, leather goods, golf, and electronic products. The business plan and findings were presented directly to the Porsche family, which fully backed it. The Porsche Design Group has since grown dramatically and now operates in many retail locations in the United States and worldwide.

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Integreon is a business process outsourcing (BPO) firm that offers a wide range of knowledge and legal support  services  to professionals. Growthink was retained to develop Integreon’s business plan, which focused on raising capital and scaling the business. Since working with Growthink, Integreon has raised over $50 million in venture capital, grown from 12 to 2,000 employees, and is now one of the largest BPO firms in the world.

GET A FREE CONSULTATION

Let growthink's business plan consultants help you.

We are very proud of our business plan consultancy services and are confident we can help you raise money and grow your business. Call us today or fill out our form to get started.

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Michigan Small Business Development Center (SBDC)  

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How to Write a Department Business Plan

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Role of Financial Management in Corporate Structure

Lease contract administration functions, how to create a business plan as an entrepreneur.

  • How Is a Budget Used to Motivate a Staff?
  • How to Make a Business Budget Plan

Even a small business can be organized into separate departments, each one being assigned its own goals, such as revenue targets or units to be produced, and having its own expense budget. Each manager writes a department business plan, usually with guidance from the small-business owner and the finance staff. The managers of each department are held accountable for meeting these goals and staying within budgeted – often called forecast – expenses.

Review Last Year's Finances

Compare actual results to what had been in the forecast. Determine the reasons for significant variances. Analyze whether negative variances were due to one-time events or are likely to recur in the upcoming year and should be taken into account in the forecast.

Analyze Overall Performance

Review the productivity of the department as a whole and each member of the department. Set goals for productivity improvement – including better teamwork – in the upcoming year. Transmit these goals to each member of the department.

Align with Company-wide Goals

Determine departmental goals and make sure they conform with the expectations expressed in the company-wide goals and assumptions about the economy and industry. If the business owner seeks to keep cost increases to less than 2 percent in order to build up cash reserves, make sure your department budget is in line with that expectation.

Create Department Mission Statement

Express how the department will contribute to the company’s overall growth and productivity. State the value the department provides to the company as a whole. For example, the purchasing division’s mission could be to have critical inventory items available at all times while keeping inventory costs as low as possible.

Create a Financial Forecast

Create a forecast for revenues and expenses based on past results combined with the goals the company owner expressed for the upcoming year. The business owner may have set a goal of opening three new retail locations. Each department must determine what additional resources it needs to operate, in light of these expansion goals, and the cost of these resources, including personnel.

Transmit the Plan

Review the plan with the owner and his finance staff and justify proposed expenditure increases included in the departmental plan. Modify the plan based on recommendations from the business owner.

Final Review

Review the final plan with each member of the department to ensure all team members are aware of the expectations the business owner has for the department and the goals that have been set for it.

  • When submitting the department budget to top management, include detailed analysis of the logic behind the revenue and expense forecast line items. This will increase the chance that proposed expense increases will be approved.

Each department manager should expect back-and-forth negotiations with top management, including the small-business owner, during the finalization of the department budgets. A department manager should not have the attitude that he is being singled out – in most instances all departments will be asked to make modifications to their plans.

  • Forbes: New Managers: How To Create Your Department's Tactical Plan
  • SBA.gov: Write Your Business Plan
  • Strathcona: Department Business Plan
  • nibusinessinfo.co.uk: Prepare a business plan for growth
  • Each department manager should expect back-and-forth negotiations with top management, including the small-business owner, during the finalization of the department budgets. A department manager should not have the attitude that he is being singled out -- in most instances all departments will be asked to make modifications to their plans.

Brian Hill is the author of four popular business and finance books: "The Making of a Bestseller," "Inside Secrets to Venture Capital," "Attracting Capital from Angels" and his latest book, published in 2013, "The Pocket Small Business Owner's Guide to Business Plans."

Related Articles

How to put a business plan in motion, what are quotas & goals, organization strategy & division strategy, how to forecast profits for a business plan, how to run an effective hr department, the importance of a financial plan for a small business, what is a quarterly budget, how to write a golf club business plan, budgetary control techniques, most popular.

  • 1 How to Put a Business Plan in Motion
  • 2 What Are Quotas & Goals?
  • 3 Organization Strategy & Division Strategy
  • 4 How to Forecast Profits for a Business Plan

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Salary: $94,000.02 - $104,000.02 

Anticipated salary: $99,000.02.

This position manages four biological resource related programs including biological compliance for the agency-wide project development program; roadside resources program which includes vegetation management planning and related agency programmatic agreements; the wildlife connectivity program; and the wetland dredge and fill permitting program. These programs require development of policy and guidance, complex biological evaluations and Section 7 consultations. The position manages partnering and programmatic biology and NEPA documents and agreements with federal, state, tribal agencies and partners and is responsible for evaluating wildlife habitat and conservation needs as it relates to highway safety and incorporation into agency planning and development. This position is responsible for budget, developing new positions and hiring and managing technical specialists including other team leads and program managers.

The State of Arizona strives for a work culture that affords employees flexibility, autonomy, and trust. Across our many agencies, boards, and commissions, many State employees participate in the State’s Remote Work Program and are able to work remotely in their homes, in offices, and in hoteling spaces. All work, including remote work, should be performed within Arizona unless an exception is properly authorized in advance.

Essential Duties and Responsibilities include but are not limited to: • Manage and mentor biologists conducting formal and informal consultation and negotiate project environmental mitigation and commitments with US Fish & Wildlife Service for ADOT and local public agency projects. Manage teams and make determinations regarding threatened and endangered species project analysis. Manage Migratory Bird Act, Bald and Golden Eagle Act, threatened and endangered species issues, and Section 404 permitting • Ensure legal sufficiency of biological documents, process and procedures in order to help secure Federal Aid funding for ADOT projects in the Five Year Program. Develop and direct teams to ensure program delivery as well as compliance with natural resource regulations. Conduct and review habitat mitigation plans, and species monitoring • Evaluate and coordinate natural resources activities within ADOT to ensure consistency, timeliness, adequacy and sufficiency of natural resources efforts. Assess and monitor the current status of natural resources involvement and propose/implement needed changes, initiate and conduct research and studies related to natural resources activities, including field reviews. Manage and coordinate protected native plant issues • Represent ADOT on committees and teams concerned with biological and natural resources management activities. Act as a liaison with key local, state and federal government agencies regulating biological and natural resources activities. May drive a State vehicle during the course and scope of duties as well as overnight travel and lodging requirements • Develop process and procedures for ADOT compliance with natural resource regulations such as the Endangered Species Act, Migratory Bird Treaty Act, Bald and Golden Eagle Act, Clean Water Act for NEPA and project development and operations. Review existing and potential future ESA listed species habitats and develop conservation programs and off site mitigation sites for in lieu fee or mitigation banking opportunities • Enter into and manage working agreements with various agencies and tribes, coordinate with land and resource agencies and tribes on behalf of ADOT for biological issues. Sit on research board Technical Advisory Committees

Knowledge in/of: • As well as competence in: wildlife, fishery, and plant biology to evaluate construction and maintenance activity impacts • Application of biological facts, principles, methods, and procedures for the conservation and management of biological resources • Regulations and procedures required by applicable biological resource laws • Transportation, construction, maintenance, and highway engineering processes and principles Skills in: • Planning and organization methods of direct research, data analysis and ability to prepare independent reports • Effective oral and written communication • Negotiation and conflict resolution • Creating, interpreting and implementing policies, procedures and regulations • Analytical and interpretive processes to understand, explain and apply the requirements of complex environmental laws and regulations Ability to: • Manage and communicate effectively • Effectively interact with diverse interests and personalities • Interpret and implement regulations • Effectively plan, organize and perform complex analytical environmental research involving multi-disciplines and processes • Review and evaluate complex environmental conditions through field evaluations and other special studies and documentation

The ideal candidate for this position will have: Minimum requirements would be a successful completion of a full four-year course of study in an accredited college or university leading to a bachelor's or higher degree in biological science, ecology, wildlife and fisheries science, botany, natural resources, forestry or similar type degree. Masters degree or 5 years experience in one of the above referenced or similar programs preferred.

Valid AZ Driver's License.

If this position requires driving or the use of a vehicle as an essential function of the job to conduct State business, then the following requirements apply:  Driver’s License Requirements.

All newly hired State employees are subject to and must successfully complete the Electronic Employment Eligibility Verification Program (E-Verify).

The Arizona Department of Administration offers a comprehensive benefits package to include: • Sick leave • Vacation with 10 paid holidays per year • Paid Parental Leave-Up to 12 weeks per year paid leave for newborn or newly-placed foster/adopted child (pilot program). • Health and dental insurance • Retirement plan • Life insurance and long-term disability insurance • Optional employee benefits include short-term disability insurance, deferred compensation plans, and supplemental life insurance

By providing the option of a full-time or part-time remote work schedule, employees enjoy improved work/life balance, report higher job satisfaction, and are more productive. Remote work is a management option and not an employee entitlement or right. An agency may terminate a remote work agreement at its discretion.

Learn more about the Paid Parental Leave pilot program  here . For a complete list of benefits provided by The State of Arizona, please visit our benefits page

Mandatory participation in the Arizona Retirement System (ASRS) is required.

The State of Arizona is an Equal Opportunity/Reasonable Accommodation Employer. Persons with a disability may request a reasonable accommodation such as a sign language interpreter or an alternative format by calling (602) 712-7279. Requests should be made as early as possible to allow sufficient time to arrange the accommodation. ADOT is an Equal Employment Opportunity Employer. All newly hired employees will be subject to E-Verify Employment Eligibility Verification.

ARIZONA MANAGEMENT SYSTEM (AMS)

All Arizona state employees operate within the Arizona Management System (AMS), an intentional, results-driven approach for doing the work of state government whereby every employee reflects on performance, reduces waste, and commits to continuous improvement with sustainable progress.  Through AMS, every state employee seeks to understand customer needs, identify problems, improve processes, and measure results.   State employees are highly engaged, collaborative and embrace a culture of public service.

The State of Arizona is an Equal Opportunity/Reasonable Accommodation Employer.

If this position requires driving or the use of a vehicle as an essential function of the job to conduct State business, then the following requirements apply: Driver’s License Requirements

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Parking and Transportation

Feb. 21, 2024 | The IMU ramp is reserved for career fair vendors. Alternative parking options include North Campus Ramp and City of Iowa City ramps. See alert details  

image from drone showing intersection, skyway, parking ramp roof, and traffic

New rates proposed for UI parking permits beginning Aug. 1

To support the ongoing maintenance and improvement of parking facilities, University of Iowa Parking and Transportation is proposing modest rate increases for most parking permits beginning Aug. 1.  

The proposed rates – including a cost decrease to permits for the commuter lot farthest from campus – received unanimous support from the Parking and Transportation Charter Committee before seeking approval by the Iowa Board of Regents.  

If approved, this will be the first permit rate increase since 2016 and will help the department meet the rising demand for parking on campus.  

Some of the parking projects in the works include expanding some existing lots across campus; constructing the Hawkeye Parking Ramp north of Kinnick Stadium; and planning for another new west campus ramp . In recent years, the department also implemented new technology and operational efficiencies – including virtual permits using LPR and mobile payment . These new features have enhanced customer service and reduced costs for the department.  

“Our department is committed to providing quality parking services to the campus community,” says Debby Zumbach, associate vice president for business services and director of parking and transportation. “We have reached a point where additional revenue will be needed to keep up with demand.”   

The proposed permit rates for the 2024-25 academic year reflect the variety of parking needs and preferences of employees and students. Permit holders will be notified by email this week and later this spring after the Iowa Board of Regents votes on the proposal at its April meeting.  

A new Commuter B permit is proposed and would lower the monthly cost by $8 for employees and students who park in Hawkeye Commuter. The new Commuter B permit would cost $20 a month, while the Commuter A permit for the closer commuter lots would cost $28 a month.  

Some student permit fees also would increase modestly under the proposal. Student permit fees were reduced in 2019, and the proposed increases for 2024-25 remain lower than the rates before 2019.  

Zumbach says that the department strives to balance affordability and availability of parking for students.  

"We understand that some students need to bring their vehicles to campus, but we also encourage them to explore other options, such as our reliable CAMBUS system, which can help them access campus without a vehicle," she says.  

The university also is proposing increases for some types of parking citations. The citation rates were last increased in 2012, and the proposed rates are aligned with the rates of other state institutions.  

The proposed increases must be approved by the Iowa Board of Regents.  

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Fisheries development and approvals

Approvals are required for certain development activities.

Resource Allocation Authorities

You need a Resource Allocation Authority (RAA) from Fisheries Queensland for certain fisheries development activities.

Development approvals and accepted development

Accepted development requirements and approvals for operational works and material change of use.

Declared Fish Habitat Area works

Accepted development requirements and approvals for works in Fish Habitat Areas (FHAs).

Waterway works and structures

Approvals, guidelines and processes for works and structures in Queensland waterways.

Marine plants

Approvals and development requirements for works that impact marine plants.

  • Updated: 15 Feb 2024
  • Reviewed: 13 Feb 2024

IMAGES

  1. Business Development & Planning Department

    business planning department

  2. Planning Department Organization Chart

    business planning department

  3. Embracing The Benefits Of Customized Business Planning For Corporate

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  4. Department Planning Framework

    business planning department

  5. The planning department is not the whole company

    business planning department

  6. Business Planning And Organisation Of Tasks Flat Vector Illustration

    business planning department

VIDEO

  1. Business planning

  2. Corporate planning process

  3. Audiência Pública de imersão no Desafio TCU de Fiscalização de obras urbanas de pavimentação

  4. Business Plan Presentation

  5. New Business Plan

COMMENTS

  1. What is the Purpose of the Business Planning Department?

    The business planning department is also commonly referred to as strategic planning. This function analyzes the long-term goals of the company which, in turn, informs the development of organizational resources and strategic initiatives. For example, a company may be growing based on mergers and acquisitions.

  2. What is Strategic Planning? A 5-Step Guide [2024] • Asana

    Strategic planning is a process through which business leaders map out their vision for their organization's growth and how they're going to get there. The strategic planning process informs your organization's decisions, growth, and goals. Strategic planning helps you clearly define your company's long-term objectives—and maps how ...

  3. What is business development? Ultimate guide and strategy

    BDRs work with nearly all your departments as they search for and implement new strategies, targets, prospects, and tactics for your company. Since BDRs work with many people and have varied skill sets, they need to come to the table with specific experiences and qualities.

  4. The Business Planning Process: Steps To Creating Your Plan

    The business plan process includes 6 steps as follows: Do Your Research Strategize Calculate Your Financial Forecast Draft Your Plan Revise & Proofread Nail the Business Plan Presentation We've provided more detail for each of these key business plan steps below. 1. Do Your Research

  5. How To Write A Business Plan (2024 Guide)

    Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...

  6. Business Development: Definition, Strategies, Steps & Skills

    The business development process can impact every department within a company, including sales, marketing, manufacturing, human resources, accounting, finance, product development, and vendor ...

  7. What is the Role of Planning Department?

    By optimizing resource allocation, the planning department helps businesses achieve optimal outcomes and drive profitability. Furthermore, the planning department plays a crucial role in risk management. They identify potential risks, assess their likelihood and impact, and develop contingency plans to mitigate them.

  8. Definition & Examples of Business Planning

    Updated on September 17, 2020 Photo: Morsa Images / Getty Images Business planning takes place when the key stakeholders in a business sit down and flesh out all the goals, strategies, and actions that they envision taking to ensure the business's survival, prosperity, and growth.

  9. Enterprise Business Planning

    It's the central component of an ongoing management process that fills multiple roles within the enterprise. Coordination: One of the biggest challenges for many organizations is coordination of planning and execution across different functions. EBP fosters coordination in a number of ways.

  10. What does a Business Planning Manager do?

    A business planning manager is responsible for overseeing the business management process and ensuring that the staff meets productivity goals and targets. Business planning managers recruit and train new staff, handle budgets for projects, and identify opportunities that would increase more revenue resources and profits for the business.

  11. New Managers: How To Create Your Department's Tactical Plan

    What is the structure? Where is profitability? Are any new trends occurring? Have any paradigm shifts happened? The goal is to capture a basic snapshot of industry profitability and to identify...

  12. The ultimate guide to business planning (with template)

    A business plan clearly lays out a company's objectives, as well as the landscape of the market. As a result, business leaders know which challenges to expect. With that knowledge in hand, they can take proactive steps to mitigate their risks. 5. To accelerate growth. Quite simply, business planning works.

  13. What is corporate planning?

    Business Planning vs. Corporate Planning. The business plan typically covers the business's long-term goals, especially concerning the industry and other external forces. The business planning stage often occurs at the company's inception or before a significant change is made. The business plan should be reviewed and updated frequently (at ...

  14. Annual Planning: 6 Steps to Plan a Fiscal Year [2024] • Asana

    Annual plans drive clarity and accountability Annual planning gives your business a needed roadmap or template for the upcoming year. Seventy-five percent of successful companies have a formal and pre-established system to inform on and manage their strategy. It builds a connection between your employees' goals and work, making it easier for them to generate results-based outcomes and ...

  15. Business Planning: It's Importance, Types and Key Elements

    Business Planning: It's Importance, Types and Key Elements By Simplilearn Last updated on Feb 1, 2024 53014 Every year, thousands of new businesses see the light of the day. One look at the World Bank's Entrepreneurship Survey and database shows the mind-boggling rate of new business registrations.

  16. A Beginner's Guide to Business Development

    The business planning department often includes executives who must make decisions related to new facilities, manufacturing locations, and additional resources like local talent to assist with the ...

  17. Developing Strategic Plans for Government Dept. or Agencies

    The strategic planning department must lay out effective strategies to deal with changing conditions and governmental leaders must create a cohesive and defensible framework for their judgments. Ultimately, a department strategy provides a big-picture document that directs resources and activities toward a well-defined vision.

  18. Business Plan Consultant

    Integreon is a business process outsourcing (BPO) firm that offers a wide range of knowledge and legal support services to professionals. Growthink was retained to develop Integreon's business plan, which focused on raising capital and scaling the business. Since working with Growthink, Integreon has raised over $50 million in venture capital ...

  19. MDARD

    Business Planning Michigan Small Business Development Center (SBDC) The Michigan SBDC provides consulting, training and research to assist small business to launch, grow, transition and innovate.

  20. Department Business Plans Template

    Department business plan templates should include sections in which each department can specify the current state of affairs, the goals and strategies that will be the focus of the upcoming business plan, and what metrics will be used to track progress toward achieving each goal. Qualitative Analysis

  21. How to Write a Department Business Plan

    Determine departmental goals and make sure they conform with the expectations expressed in the company-wide goals and assumptions about the economy and industry. If the business owner seeks to ...

  22. Cibolo, TX

    Planning The primary purpose of the Planning Department is to keep with the spirit of historic Cibolo while guiding smart growth and development within our comprehensive plan and City Ordinances. For more information about specific items please click on one of the following. I am a Homeowner; I am a Business Owner; I am a Contractor

  23. Dothan City Commission could shut down Pearl Lounge

    The city's Planning and Development Department asked the commission to consider denying the night club their business license. News Annual conference highlights Alabama law enforcement issues

  24. University of Florida To Strengthen Its Sports Program Through AI

    Dan Ferris, Ph.D., and the Robert W. Adenbaum Professor of Engineering Innovation in the J. Crayton Pruitt Family Department of Biomedical Engineering at the Herbert Wertheim College of Engineering, says this project is unique in higher education.

  25. Biology Program Manager

    DEPT OF TRANSPORTATION Driving the future of transportation with a diverse and innovative teamTo learn more about the ADOT team CLICK HERE Biology Program Manager Job Location: Address: 205 S 17th Ave. Phoenix, AZ This position may offer the ability to work remotely, within Arizona, based upon the department's business needs and continual meeting of expected performance measures. Posting ...

  26. New rates proposed for UI parking permits beginning Aug. 1

    Some of the parking projects in the works include expanding some existing lots across campus; constructing the Hawkeye Parking Ramp north of Kinnick Stadium; and planning for another new west campus ramp.In recent years, the department also implemented new technology and operational efficiencies - including virtual permits using LPR and mobile payment.

  27. Fisheries development and approvals

    We pay our respects to the Aboriginal and Torres Strait Islander ancestors of this land, their spirits and their legacy. The foundations laid by these ancestors—our First Nations peoples—give strength, inspiration and courage to current and future generations towards creating a better Queensland.