There have been companies which have failed because of improper planning and poor implementation. Imagine yourself walking blindly in a room which has nails kept on the floor haphazardly. You will be hurt badly. Similarly, launching a product or implementing a new strategy without proper planning is like walking blind in a dark room. You are bound to get hurt.
There are 6 different factors which are involved in planning. Each of these factors is crucial to form an impeccable plan which brings good results. The 6 factors involved in planning are as follows.
1) Management and Executive time / input – Planning needs a 360 degree approach. The executive and middle level managers of your company are the ones most in touch with the end customers. They know the external environment and competition in and out. Thus taking regular inputs from the ground level staff is important. Once the management has this input, they can take the right decisions and form a plan to implement new strategies. This new plan can bring better results for the company. However, gathering input from middle and lower level managers should be encouraged by the top management itself. [Read more...]