“Peace-time plans are of no particular value, but peace-time planning is indispensable.” – Dwight D. Eisenhower
The need for effective business planning has long been established beyond doubt, and recent global events, the financial crisis, COVID and armed conflicts, have proven Eisenhower’s quote as applicable to organisations as it is to the military. Nobody can predict the future but those businesses that plan well are more capable of detecting significant change early and being able to respond to it in a timely and effective way.
Business leaders who achieve their business strategies and annual goals have a different mindset, they understand that goals, and plans are different. Plans are the actions that will deliver goals, such as revenue and profit targets. While strategy, goals and objectives may remain static over a longer period, plans can and should adapt to new conditions that may impede achieving the goals and strategies. So, planning is a continuous process that allows business leaders to recalibrate when things change.
However, planning is challenging, and it doesn’t always come naturally. People and organisations have to learn how to plan effectively. This is especially critical in larger businesses where many different people in diverse roles must come together to connect and align various plans and link them to the business strategy.
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