WHY WRITTEN business plan & Quarterly Review?
IMPORTANCE of Written Plan
- Clarity on business goal
- Focus on improvement
- Follow up on past plan
- Plan ahead for funding and manpower requirements
Outcome of Written Business Plan
- Increase success rate of organisation
- Business goals is turned into action plans (90 days x 4)
- Alignment of expectation between business owners, managers & staff
- Monitor progress of the action plan
- Make improvement/adjustment, as deemed necessary
- Increase staff productivity
- Clarity of KPI & accountability
- Quantifiable achievement for promotion & increment
- Create a culture for continuous learning & development
- Communication tool – bankers, investors, grant providers, suppliers, customers and others
Optional
- Update & conduct business plan review (every 3 months)
- Conduct 1 day alignment workshop/training (every 3 months)
- Coaching – to hold management & staff accountable to achieve their KPI