Business Planning/Forecasting – what can it do for your business?   5 comments

Business planning or forecasting is essential to all businesses, whatever size, large or small. You need to plan for what you think might happen in the future, both short-term and longer-term. Making regular forecasts and comparing them to actual achievements will enable you to:
  • keep tight control over your business and understand what’s happening in your company
  • see what strategies are working and those that are not
  • clarify your goals and objectives and use them against your budget
Business planning is not a one-off paper exercise but should be part of your business strategy. They should be regularly reviewed and updated with your achievements.  You can see how differently things turned out to what you forecast and expected and make the necessary adjustments accordingly.

Looking ahead is vital to achieving objectives for your business!

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Posted January 26, 2012 by cmm in Blog

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5 responses to Business Planning/Forecasting – what can it do for your business?

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  2. Thank you for your comments and it's good to know people find the information useful.

  3. Thanks a lot for taking the time to describe the terminlogy for the starters!

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