5-Phase Planning Overview
Business planning translates strategic intent into activities. Research indicates that there is an over 40% performance loss through this translation (Note 1). Best practices in effective planning focus on significant reduction in elapsed time of the planning process and development of plans.This is called “Agile Planning”. There are three core methods that lead to Agile Planning – 1) Driver Based Planning (using performance drivers to flex the budget), Scenario Planning and integrating the planning aspects of the “silos” within your organization. (Note 2)
Note 1: Findings from research by Marakon Associates, in collaboration with the Economist Intelligence Unit, when they surveyed senior executives from 197 companies worldwide with sales exceeding $500 million from different product markets and geographies.
Note 2: These videos are part of the over 300 You Tubes, which can be found by clicking here ( https://www.youtube.com/user/pm2Consulting). In addition, my most recent thinking is posted in LinkedIn by clicking here ( https://www.linkedin.com/today/author/15241786).