Transcript Planning! - Warren County Schools

By: Dylan, Elliot, Cade, and Jordan
The Value of a Business Plan
 Business Plans are important tools for any business big
or small.
 Business Plans are usually used when either starting a
business or making a change in a business.
Levels of Planning
 The two types of planning are known as Strategic
Planning and Operational.
 Strategic Planning – A long term plan that provides
broad goals and direction for the entire business.
 Operational Planning – short-term and identifies
specific activities for each area of the business.
Strategic Planning
 SWOT Analysis –the examination of the organization’s
internal Strengths and Weaknesses as well as the
Opportunities and Threats
 The 5 Steps: External Analysis, Internal Analysis,
Mission, Goals, Strategies
Strategic Planning
 Mission Statement – a short, specific statement of the
business’s purpose and direction
 Top executives are responsible for strategic planning.
A careful and objective process is followed to prepare
the strategic plan.
Operational Planning
 Operational Planning determines how work will be
done, who will do it, and what resources will be
needed to get the work done in a specific area of the
business.
 In factories, Operational Planners develop department
budgets, plan inventory levels and purchases of raw
materials, setting production levels for each month,
and preparing employee work schedules.
Establishing Direction
 Goal – a specific statement of a result the business
expects to achieve.
 There are 4 different characteristics to effective goals:
 Goals must be specific and meaningful
 Goals must be achievable
 Goals should be clearly communicated
 Goals should be consistent with each other and with
overall company.
Budgets and Schedules
 Budgets is the most widely used planning tool.
 Budget – a specific financial plan
 Schedule – a time plan for reaching objectives.
 These are the most commonly used Planning Tools
Standards, Policies, Procedures
 Standards – a specific measure against which
something is judged.
 Policies – guidelines used in making decisions
regarding specific, recurring situations.
 Procedure – a list of steps to be followed for
performing certain work.
 Research is also a major planning tool used mostly in
marketing departments.