Fri, 12 Nov|
Annual Budgeting & Business Planning Virtual Workshop (2 days)
Ever heard about "Plan Your Work & Work Your Plan" this applies to your business. Plan well for 2022 and breakthrough from this pandemic.
Time & Location
12 Nov 2021, 10:00 am – 13 Nov 2021, 6:00 pm
About the event
The main aim of your annual business plan is to set out the strategy and action plan for your business. This should include a clear financial picture of where you stand - and expect to stand - over the coming year. Your annual business plan should include:
- an outline of changes that you want to make to your business
- potential changes to your market, customers, and competition
- your objectives and goals for the year
- your key performance indicators
- any issues or problems
- any operational changes
- information about your management and people
- your financial performance and forecasts
- details of investment in the business
Business planning is most effective when it's an ongoing process. This allows you to act quickly where necessary, rather than simply reacting to events after they've happened.
A typical business planning cycle
- Review your current performance against last year/current year targets.
- Work out your opportunities and threats.
- Analyze your successes and failures during the previous year.
- Look at your key objectives for the coming year and change or re-establish your longer-term planning.
- Identify and refine the resource implications of your review and build a budget.
- Define the new financial year's profit-and-loss and balance-sheet targets.
- Conclude the plan.
- Review it regularly - for example, every month - by monitoring performance, reviewing progress and achieving objectives.
- Go back to 1
The importance of Planning
- Those who fail to plan plan to fail.
- A business with no clear goals and no strategies is bound to fail.
- Money spent on business with no plans is throwing money down the drain.
- Start with the end in mind
- Management by objectives
- Budgets and models as keys elements of management and financial strategy
- Controlling costs by analysis, modelling, KPIs, and review of the cost drivers
Who should attend?
Business owner, General Managers, CEOs, Regional Managers, Sales & Marketing Directors, Finance Directors and Senior Executives
- At the end of the program, participants shall be able to prepare an intelligent business plan where proper strategies are incorporated in some suitability business models to achieve a clear definite goal and results