Planning – Using It

Your business plan provides a framework from which you can develop every aspect of your business. The table below explains very concisely the relationship between plan and action. Also, take a look at Figure 13.7. Fifteen of the handbooks and manuals that should be on your shelves But heed the warning that is with the Figure – avoid bureaucracy.

Your objective is to run your business or business unit as efficiently as possible to achieve your mission and vision. All the paper work described here should support that objective – and no more. It must help, not hinder.

Figure 13.1 The fast track to making it happen

1. Communicate the plan. Make sure that you have the widest possible understanding and commitment throughout your enterprise.
2. Develop policies, rules and procedures that extend the plan right to very edges of your business.
3. Develop job descriptions and allocate responsibilities.
4. Set objectives for every employee.
5. Set spending and decision-making limits at the functional level (eg, Head of R&D, accounts clerk grade 3) and the personal level (the Head Boffin, Bobby Bookkeeper).
6. Distribute budgets.
7. Monitor the objectives, budgets, and the world.
8. Reward success.
9. Take confirmatory or corrective action as necessary. Revise the strategy and plan if necessary
10. Feed back outcomes into the planning exercise and make a start developing the next business plan.

From The Definitive Business Plan, Page 282

While you are using your business plan to steer your ship, don't forget to keep checking progress against your chart. Review developments against the plan – learn from events, adjust the plan as appropriate. And prepare for writing your next plan.