Drawing up a more sophisticated business plan may be more time consuming but well worth while. Using the latest in business plan software technology may also be a a great way to ensure that your business plan is indeed a step ahead.
If your business has grown to encompass a series of departments or divisions, each with its own targets and objectives, you may need to draw up a more sophisticated business plan.
The individual business plans of the departments and separate business units will need to be integrated into a single strategy document for the entire organisation. This can be a complex exercise but it's vital if each business unit is to tread a consistent path and not conflict with the overall strategy.
This is not just an issue for large enterprises - many small firms consist of separate business units pursuing different strategies.
To draw up a business plan that unites all the separate areas of an organisation requires a degree of co-ordination. It may seem obvious, but make sure all departments are using the same planning template.
Objectives for individual departments
It's important for each department to feel that they are a stakeholder in the plan. Typically, each department head will draft the unit's business plan and then agree its final form in conjunction with other departments.
Each unit's budgets and priorities must be set so that they fit in with those of the entire organisation. Generally, individual unit plans are required to be more specific and precisely defined than the overall business plan. It's important that the objectives set for business units are realistic and deliverable.
However complex it turns out to be, the individual business plan needs to be easily understood by the people whose job it is to make it work. They also need to be clear on how their plan fits in with that of the wider organisation.
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