Business Planning is an essential process for systemically determining what an organization should become and how it can best achieve that goal. It requires mapping of business's objectives to the actions and resources required to achieve them.
Haynes Path team can help your organization develop a business planning and budget model that enables greater planning accuracy, operational performance and budgetary control by aligning finance, supply chain, sales and marketing, HR and other functions of the organization.
Our approach involves four main stages:
Stage 1: SWOT
SWOT analysis is performed based on deep understanding of organization’s internal capabilities and weaknesses, competition and external market environment, feedback from all functions and key stakeholders, review of key economic, financial and political trends impacting the business, assessment of competitive landscape, existing market conditions and industry outlook.
Stage 2: Strategic Objectives
Brainstorming strategy sessions are carried out with senior leadership team to explore organic and in-organic growth opportunities, challenge status quo and the standard business practices and restructuring strategies to align the business with strategic objectives.
The final deliverable of the strategy sessions is an agreement on broad strategic objectives and high-level financial targets.
Stage 3: Preparation of Business Plan and Budget
The starting point in the preparation of Business Plan is the agreement on broad strategic objectives and high-level financial targets. Budget pack is prepared incorporating key business drivers, Financial parameters, non-financial KPIs such as market share, category/brand/product wise analysis, number of locations, sourcing and distribution channels, marketing platforms, supply chain parameters, employee productivity, capacity utilization, customer satisfaction index, and geographical sales.
Stage 4: Monitor and Analyze Performance
- Guide and monitor the implementation of strategic objectives, business plan and budget
- Detailed monthly MIS packs tracking key business drivers (financial and non-financial)
- Budget Reviews during the year to realign strategic objectives and action plans in line with market conditions