Planning Categories
Financial planning is a key activity for organizations of all sizes to accurately manage profitability and establish the company's direction for the upcoming year and beyond. A strong business planning process consists of sales and operations planning (S&OP), demand planning, financial planning, budgeting, and forecasting. All three of these planning elements depends on one another to achieve accurate integrated business planning. Planning, budgeting, and forecasting involves activities at a number of levels, from high-level summarized strategic plans to detailed financial budgets and forecasts. Let's take a look at each and v I at they mean for a company. Strategic Planning Strategic planning focuses on realizing a 3-5 year vision that addresses most critical market and organizational challenges. An effective strategic plan translates your business strategy into a simple story about your organization’s future . You know that story is clear when people around you understand