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19 February, 2021

Describe the significance of accurate planning to modern business.

 As organization’s senior leadership sets goals for milestones to be reached, it is the responsibility of the management team to create initiatives to achieve these milestones. Each will yield an outcome and require a set of resources – it is these outcomes and resource requirements that need to be planned. For example, an organization that provides services is required to forecast the offerings demanded in the near future, and determine whether they are equipped to meet that need. “Will the sales force be able to effectively drive significant demand?” “Is the delivery capacity available to meet the anticipated demand that will be generated by the sales force?” These questions can only be answered once a sales plan has been created and compared to the staffing demand.These planning goals affect internal, external and financial decisions based upon the organization’s commitment to these objectives. Therefore, it is critical that these commitments are achieved and that the associated processes provide accurate results.Most planning processes have been an evolution within a company as organizations have grown. Typically, plans are created within spreadsheets and shared among a small number of those who direct the business. As organizations grow, their supporting infrastructure generally grows faster than the planning infrastructure since planning occurs once a year. As organizations mature, the planning processes required mature as well. However, the plans are still managed within spreadsheets