Corporate Planning and Formalization of the Business Plan Document

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Author: Future Manager Research Center

One of the prerogatives for anyone who decides to embark on an entrepreneurial path or for all those who decide to expand a business that has already been running for some time is to have a proper corporate planning. A mistake that must be avoided is to underestimate the importance of acquiring and consolidating the skills necessary to develop the processes that lead to business planning that is in all respects strategic.

To analyse in advance the activities, objectives and any unforeseen events to be managed, it is vital to have a Business Plan, a key document of business planning. This document is extremely technical in nature and includes strategies, economic and financial forecasts and much more, outlining in detail a business project. Within a Business Plan it is possible to identify a more discursive part integrated with a decidedly more numerical one where the economic asset and financial projections taken into consideration in the descriptive part take shape.

We could define it as a real “strategic Bible” for many companies, since it is often used to request loans, business facilities or it is presented to dialogue with investors and it is useful to find new business partners.

To draw up his own planning document, the entrepreneur is inevitably led to reflect and ask himself questions, almost as if it were a real path of self-awareness.

“Is my business idea feasible having this budget available?”, “How could the market respond to what I propose?”, Or “Do I have all the skills and tools necessary to better manage my business?”.

That is why having a Business Plan helps to set priorities, control them and minimize the risk of failure. Given that the drafting of such an important and complex document requires a certain level of competence, relying on Business Schools that organize courses in the field of Project Management can prove to be a winning choice as long as these classes guarantee the acquisition of real technical skills worthwhile to direct business at its best.