It is not possible to overemphasize the importance of the marketing in the annual planning process. This is because annual planning facilitates exceptional financial results while driving transformative improvement – and Marketing can provide the overall roadmap.
Business Planning Versus Annual Planning
At the beginning of each fiscal year, companies have an opportunity to take a step forward, remain in the same place or lose ground to competitors in the marketplace. Companies which tend to stand still or take a step backward do not approach the annual planning process as an opportunity but as a means to simply update the business plan. Instead, they embark upon business planning initiatives which typically result in extensive exercises involving a lot of heavy lifting by large teams of people over massive cycles. Let’s be clear, a sound business plan and business model is required for any successful business. However, the development of an annual plan that is both strategic as well as operationally aligned with the business plan is required to focus, align, run and grow a healthy business…
