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Articles
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Planning is a blueprint
for success
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The survival of any business in today’s fiercely competitive
environment depends on your ability to plan for and manage
change. Local and global issues such as the drought, the
SARS crisis and heightened geopolitical tensions affect the
Queensland and Australian markets and reinforce the vital
role that business planning plays.
A business plan is a blueprint for your organisation’s
future and how to get there. It can be used to assess the
viability of a new venture; convince others to invest in
your business; provide a case for lending support; or
enhance the day to day operations of your business.
A business plan must meet the needs of your business and
should be strategically focused, action-oriented and
achievable, reaching a balance between existing activities
and the introduction of new ones.
To ensure your business plan is strategically focused and
effective, it should cover these steps:
• understand your business
• assess relevant strengths, weaknesses, opportunities and
threats
• clearly identify what your goal is
• identify key management issues
• identify strategies to achieve your goal
• develop an action plan
• establish likely outcomes and how you will evaluate the
success of your plan.
A clearly outlined business plan coupled with a strong
commitment to implementation can be very beneficial to your
business. Such benefits include an improved understanding of
your business, a foundation for day-to-day control, a
blueprint for future development, and improved communication
with staff, customers, suppliers and financiers.
Please visit again soon to read more articles of
interest.
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