Inspire the future - Get a plan

I will address this issue from two perspectives:

1. The Corporate perspective &

2. The personal perspective.

Today i will take:

THE CORPORATE PERSPECTIVE

A written and well outlined plan is just as important for any organization, be you an entrepreneur, a division of a multinational company, a hospital trust, a charity organization or public sector bodies.

Please bear in mind that planning is not budgeting nor is planning made to give the company its intended strategy. It already had one, in the head of its entrepreneur or C.E.O, as his vision for its future. Well that is why it went into the financial market in the first place.

Rather planning is the articulation, justification and elaboration of viability of the intended strategy of the company, and in the process innovate a floodgate of ideas and possibilities from collected data which is processing with professional expertise and statistical analysis for profitability and maximization of its organizational potential.

Contrary to common misconception that its the business planning process usually involving the entrepreneur/C.E.O and the managers that generates business strategy. In practice strategy is not the consequence of planning, but rather planning is brought about in attempt to meet and enhance organization strategies.

The earlier stage described above is usually called the conception phase. But unfortunately many businesses/organization never get pass this conception stage and eventually they don't deliver, which is only natural. When a female conceives and doesn't get pass the conception stage (maybe a miscarriage or an abortion) its very sure that she wouldn't deliver, isn't it? Well that's the situation paramount in the Nigerian business environment and little wonder why there is the 95% business failure rate in the economy.

What exactly are the 5% doing right that the other 95% business are not doing at all? It is called objective projecting(planning). Physically you can't go farther than where you can see.  So where your vision and statistical understanding stops in this our very complicated business economy actually implies your end of the road, and generally the 95% businesses are majorly classified here. You might argue this emotionally or otherwise but technically there is no two ways about it. Its either its done and ensures success or it is not and then the business can only tag along and await its impending doom.