Business plans vital for all growing firms
Thu, 05 Nov 2009
A good working business plan is even more important to firms during periods of economic difficulty, it has been claimed.
According to UK Business Advisors (UKBA), growth strategies provide the foundation for all the operations of the company and keep activities on track towards recognised measurable targets.
The organisation said good plans will include a vision of future aspirations, a company mission, defined objectives for the business, and a detailed action plan.
However, it is important to avoid a one-size-fits-all approach that some agencies offer, UKBA claimed, as each company works under a set of conditions that are specific to them alone.
Brian Dash, chair of UKBA said: "We know the value of a good business plan in helping a company set its objectives and move forward in a measured way.
"However, it is vital that it is not just something done once and stuck in a drawer. It must be regularly reviewed, preferably in conjunction with an expert not connected with the day-to-day running of the business."
Writing for AMEinfo.com, Martin Lynch recently claimed that companies are continuing to invest in a range of business intelligence technologies to bolster decision making processes.
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