business planning manager meaning

What Does a Business Planning Manager Do?

Find out what a Business Planning Manager does, how to get this job, salary information, and what it takes to succeed as a Business Planning Manager.

The Business Planning Manager plays a strategic role in steering the company’s direction through comprehensive market analysis, forecasting, and resource allocation. This position involves synthesizing complex data into actionable strategies that align with the company’s long-term goals and financial objectives. By closely monitoring industry trends and evaluating business performance, the Business Planning Manager ensures that the organization remains agile and responsive to changing market demands. Collaboration with various departments to develop and implement plans that enhance operational efficiency and profitability is also a significant aspect of the role. Through a balanced approach to risk management and opportunity identification, the Business Planning Manager supports the company in maintaining a competitive edge and achieving sustainable growth.

Business Planning Manager Job Duties

• Develop and implement comprehensive business plans to facilitate achievement by planning cost-effective operations and market development activities.
• Analyze and forecast financial, economic, and other data to provide accurate and timely information for strategic and operational decisions.
• Coordinate cross-functional teams to develop business strategies and objectives, ensuring alignment with corporate goals.
• Evaluate competitive market strategies through analysis of related product, market, or share trends.
• Identify and drive initiatives to improve operational efficiency, including process improvements, cost reduction, and systems enhancements.
• Facilitate communication and collaboration among departments to ensure that business planning and strategies are aligned with company-wide goals.
• Oversee the preparation of operational and risk reports for management analysis.
• Spearhead the development of new business opportunities, including expansion, mergers, acquisitions, and partnerships.

Business Planning Manager Salary & Outlook

Factors affecting a Business Planning Manager’s salary include industry sector, company size, years of experience, and specific skills in strategic planning, financial modeling, and market analysis. Performance outcomes and the ability to influence business growth also significantly impact compensation.

• Median Annual Salary: $110,250 ($53/hour)
• Top 10% Annual Salary: $152,000 ($73.08/hour)

The employment of business planning managers is expected to grow faster than average over the next decade.

This growth is driven by the increasing complexity of global markets, the need for strategic planning in competitive environments, and the demand for innovation in product and service development. Business Planning Managers are pivotal in navigating these challenges, making their role more critical than ever.

Business Planning Manager Job Requirements

Education: A Business Planning Manager typically holds a Bachelor’s Degree in Business Administration, Finance, or a related field. Coursework often includes strategic management, financial analysis, market research, and organizational behavior. Advanced degrees like an MBA can enhance prospects, focusing on leadership, advanced strategic planning, and international business. Specialized courses in data analysis, project management, and economics are also beneficial, equipping candidates with the necessary skills to excel in developing and implementing business strategies.

Experience: Business Planning Managers typically come from diverse experience backgrounds, with a significant portion having substantial experience in strategic planning, financial analysis, and project management. Many have progressed through roles that required increasing responsibility in business strategy and operations. On-the-job training is common, often through mentorship or rotational programs within a company, allowing for hands-on experience in different business units. Training programs focusing on leadership, data analysis, and market research are also valuable, equipping candidates with the skills to lead cross-functional teams and drive business growth. Successful candidates often demonstrate a blend of practical experience in business planning and strategic initiatives, coupled with formal training programs that enhance their analytical and leadership capabilities.

Certifications & Licenses: Certifications and licenses are not typically required for the role of Business Planning Manager.

Business Planning Manager Skills

Strategic Forecasting: Leveraging data-driven insights, a Business Planning Manager predicts market trends to develop strategies that align with organizational goals. This involves synthesizing diverse information sources to anticipate challenges and opportunities, keeping the company agile and competitive.

Market Analysis: Through the meticulous examination of trends, customer behaviors, and competitor activities, Business Planning Managers can forecast market demands and pinpoint opportunities or threats. This skill hinges on thorough data collection and interpretation to inform strategic decisions.

Financial Modeling: Business Planning Managers create detailed, predictive models of a company’s financial future to forecast revenue, assess risk, and efficiently allocate resources. This requires a solid grasp of accounting principles, spreadsheet software proficiency, and the ability to interpret market trends for data-driven strategic planning.

Risk Management: By identifying potential threats and developing strategies to mitigate them, Business Planning Managers protect the organization’s interests and ensure its long-term sustainability. Analyzing market trends, financial forecasts, and operational vulnerabilities is crucial for preemptively addressing challenges.

Stakeholder Engagement: Building and maintaining strong relationships with investors, partners, and internal teams is critical for aligning business strategies and meeting project milestones. This skill ensures smoother project execution and fosters an environment of trust and mutual respect.

Performance Optimization: Data-driven insights and lean methodologies are used to streamline operations, reduce waste, and boost business efficiency. Analyzing performance metrics, identifying bottlenecks, and implementing strategic interventions are key for sustained organizational improvement.

Business Planning Manager Work Environment

A Business Planning Manager typically operates within a structured office environment, where the workspace is designed to foster both concentration and collaboration. The setup usually includes personal computers, advanced planning software, and access to data analytics tools, essential for strategic decision-making and forecasting.

Work hours might extend beyond the traditional 9-to-5, especially during critical planning phases, though many organizations offer flexibility to accommodate work-life balance. The dress code tends to align with corporate standards, leaning towards business casual or formal, depending on the company’s culture and external meeting requirements.

The role demands frequent interaction with team members, stakeholders, and departments, necessitating strong communication channels and a cooperative atmosphere. Travel may be required for industry events or company-wide meetings, adding variety to the routine.

Professional development opportunities are often available, encouraging continuous learning and advancement in strategic planning methodologies and leadership skills. This role thrives in a setting that values analytical thinking, adaptability, and collaborative problem-solving.

Advancement Prospects

A Business Planning Manager can ascend to higher strategic roles within an organization, such as Director of Strategy or Chief Operations Officer (COO), by demonstrating exceptional analytical, leadership, and decision-making skills. Success in this career path hinges on the ability to drive business growth and efficiency through innovative planning and execution.

To achieve these advancements, a Business Planning Manager should focus on spearheading high-impact projects and initiatives that align with the company’s long-term goals. Gaining experience in cross-functional team leadership and developing a deep understanding of the industry’s competitive landscape are crucial.

Building a track record of successful business plans and strategies that have significantly contributed to the company’s profitability and market position will set a solid foundation for moving into top executive roles. Engaging in high-level decision-making processes and demonstrating a keen insight into market trends and business opportunities are essential steps toward career progression in this field.

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Business Planning Manager Job Description

Business planning manager duties & responsibilities.

To write an effective business planning manager job description, begin by listing detailed duties, responsibilities and expectations. We have included business planning manager job description templates that you can modify and use.

Sample responsibilities for this position include:

Business Planning Manager Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Business Planning Manager

List any licenses or certifications required by the position: APICS, CPA, PMP, CPIM, EA, CSCP, PMI, ITIL, CSCMP, SAP

Education for Business Planning Manager

Typically a job would require a certain level of education.

Employers hiring for the business planning manager job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Finance, MBA, Business, Accounting, Engineering, Economics, Business/Administration, Management, Project Management, Marketing

Skills for Business Planning Manager

Desired skills for business planning manager include:

Desired experience for business planning manager includes:

Business Planning Manager Examples

• Microsoft Word (.docx) .DOCX
• PDF Document (.pdf) .PDF
• Image File (.png) .PNG
• Play a leadership role in market and product forecasting process with General Manager, Sales Executives, and Operations
• Support the team with analysis and business case creation
• Understand costs and cost drivers in standardized portions of the business
• Act as key Finance contact for the OEM Alliance Leader and their team providing insights and direction
• Gather and analyze data concerning the macro-economic, socio-demographic, broad scoped business environment from multiple sources
• Analyze the competitors and market trends locally and globally
• Design and develop the Long Term LES HW, LES A3 HW, Toner and Accessories forecast using market sizing knowledge, market share understanding, business and investment strategies, region understanding, channel strategies, and product/solution portfolio plans
• Forecast pivot table creation and modifications (macros, new content, new inputs, ) to support forecast change activity
• Influences and engages stakeholders at all levels across Print to achieve impactful business outcomes
• Creates marketing material and client presentations illustrating the complex techniques used in planning addressing both legal and tax issues
• Ability to develop effective working relationships with business representatives (Compliance, Scheduling, Service Level Performance, Technology & Facilities)
• Ability to successfully manage multiple projects/ changing priorities concurrently under tight timelines with multiple stakeholders
• 5-7 years experience in consulting, finance, audit, or other analytical role
• Experience working in highly technical industry with complex interrelationships and rapid pace of innovation
• Experience creating business plans, SWOT analyses, and strategic plans, including synthesizing primary and secondary research to support recommendations
• Direct experience preparing complex financial models and communicating insights in compelling and concise presentations
• Cross Organizational Initiative Support – Support multi-region relevant business initiatives, as directed by the Business Unit and/or Supplies Organization
• Story Behind the Numbers– Support the CBM Region Engagement Lead and Finance for quarterly insights around actual business performance that support the SBTN process
• Budget/Interlock Process Support – Work with the CBM Region Engagement Lead and Print/Office Finance to establish reasonable budget revenue plans for the upcoming fiscal year
• Ad Hoc Requests– Provide as needed support regarding desk reviews, business reviews (QBR, ), and any relevant upper management analyses, presentations, or checkpoints
• Supervise Pricing and Planning Analyst, who is responsible for coordinating and leading pricing and quote approval meetings, customer pricing
• Lead the Business Unit Strategic Plan and Operating Plan, regular updates of the sales forecast and target pipeline
• North American Commercial Vehicle market intelligence and market forecasts
• Lead and coordinate quarterly business unit reviews
• Develop and maintain various sales reports to increase transparency
• Collaborate with materials planning teams to produce the monthly S&OP production forecast
• You are analytical and have great business acumen
• You have first-in-class written communication skills for developing compelling Powerpoint presentations and proposals
• You have a good understanding of product and technology in the marketing and advertising world
• Excellent related experience in business operations, sales operations, program management, finance or marketing
• Post-secondary education in Business or Marketing
• 5 years of Marketing experience, digital marketing and/or product management, with working knowledge of marketing strategies and a demonstrated ability to apply them
• Coordinate and support Executive Partner conferences and events
• Manages complex, time- sensitive market research projects and synthesizes data and information to identify relevant trends and next steps
• The Manager Demand Planning – Business Partner owns the forecast that is driving the supply plan
• Serve as the key business planner working directly with CTO leadership team, our Finance and HR business representatives, key operational and other internal stakeholders to provide business decision support
• Develop and monitor metrics to measure the effectiveness of CTO business strategy and suggest necessary changes that form the core for subsequent annual business planning and strategic planning
• Work collaboratively with various business units to understand the drivers of their businesses and workflows and build/maintain a dynamic driver-based tool
• Train executives how to use the dashboards and discuss improvements, as needed
• Engage in other related value creating initiatives to transform budgeting or MRP processes
• Identify and define the required data sources to provide the bookings forecast, to include
• Construct models to improve the forecast and analysis
• Must have strong work ethic and ability to work beyond business hours as needed to complete tasks
• You will be responsible to complete all SOX work timely with signoffs and documentation
• You must have strong analytic, organizational, and problem solving skills
• You are expected to be able to prepare, analyze, and interpret complex financial reports
• You must have good knowledge of accounting principles and procedures and to be able to prioritize and organize effectively
• Proficiency using Microsoft systems
• Advising and assisting project team members in the application of project management methods, tools, techniques, standards and processes
• Ensuring that they are maintained throughout the project life cycle
• Creating project or sub-project plans and monitoring progress against tight schedule
• Setting up and maintaining systems for tracking, reviewing and recording project costs and revenues
• Coordinating the production of all reports and producing project summary reports
• Maintaining risk and issue logs and changing control records
• Developping and maintaining the project library, filing, recording and reporting systems
• Developping and supporting effective communication mechanisms between the project teams
• Contributing to the strategic planning process
• Developing a robust management information framework to monitor progress against strategy
• Or minimum of 10 years’ experience and knowledge and expertise in the use of project management methodology and tools
• Minimum of 10 years experience, including strategic planning, budgeting, forecasting, and process improvement
• Presentation creation and visual design
• Support global PTD resource planning processes, tools and guidelines to enable successful execution of key planning activities, including partnering with stakeholders, training for planners, data analysis
• Find creative ways to maximize the value of planning activities while minimizing the time invested to manage data
• Attention to detail - ability to evaluate “bigger picture” plans “on the ground” implementations
• Suggesting alternatives / improvements / new techniques in processes, flows, operational models and plans
• Ensuring that decisions are guided by policies, procedures and business plan
• Collaborates with internal teams to define scope, requirements, and implementation timeline
• Creates business requirements specifications
• Writes detailed specs for tasks and user stories in the backlog
• Provides regular communications and status updates to key stakeholders
• Anticipates problems and builds risk mitigation plans accordingly
• Ensures that process methodologies, templates, and tools are properly and consistently utilized
• Runs weekly meetings to coordinate Project Managers and teams
• Participates in post-mortems for closed projects, to assess future process needs
• Ability to work in a team and share knowledge
• Have a structured approach towards solving tasks
• Excellent leader and communication skills
• Strong analytical skills reporting and analysis experience and skills
• Respect tight deadlines for tasks and/or providing information required
• Ability to work in a very flexible sales environment

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Business Planning

Written by True Tamplin, BSc, CEPF®

Reviewed by subject matter experts.

Updated on June 08, 2023

Get Any Financial Question Answered

Table of contents, what is business planning.

Business planning is a crucial process that involves creating a roadmap for an organization to achieve its long-term objectives. It is the foundation of every successful business and provides a framework for decision-making, resource allocation, and measuring progress towards goals.

Business planning involves identifying the current state of the organization, determining where it wants to go, and developing a strategy to get there.

It includes analyzing the market, identifying target customers, determining a competitive advantage, setting financial goals, and establishing operational plans.

The business plan serves as a reference point for all stakeholders , including investors, employees, and partners, and helps to ensure that everyone is aligned and working towards the same objectives.

Importance of Business Planning

Business planning plays a critical role in the success of any organization, as it helps to establish a clear direction and purpose for the business. It allows the organization to identify its goals and objectives, develop strategies and tactics to achieve them, and establish a framework of necessary resources and operational procedures to ensure success.

Additionally, a well-crafted business plan can serve as a reference point for decision-making, ensuring that all actions taken by the organization are aligned with its long-term objectives.

It can also facilitate communication and collaboration among team members, ensuring that everyone is working towards a common goal.

Furthermore, a business plan is often required when seeking funding or investment from external sources, as it demonstrates the organization's potential for growth and profitability. Overall, business planning is essential for any organization looking to succeed and thrive in a competitive market.

Business Planning Process

Step 1: defining your business purpose and goals.

Begin by clarifying your business's purpose, mission, and long-term goals. These elements should align with the organization's core values and guide every aspect of the planning process.

Step 2: Conducting Market Research and Analysis

Thorough market research and analysis are crucial to understanding the industry landscape, identifying target customers, and gauging the competition. This information will inform your business strategy and help you find your niche in the market.

Step 3: Creating a Business Model and Strategy

Based on the insights from your market research, develop a business model that outlines how your organization will create, deliver, and capture value. This will inform the overall business strategy, including identifying target markets, value propositions, and competitive advantages.

Step 4: Developing a Marketing Plan

A marketing plan details how your organization will promote its products or services to target customers. This includes defining marketing objectives, tactics, channels, budgets, and performance metrics to measure success.

Step 5: Establishing Operational and Financial Plans

The operational plan outlines the day-to-day activities, resources, and processes required to run your business. The financial plan projects revenue, expenses, and cash flow, providing a basis for assessing the organization's financial health and long-term viability.

Step 6: Reviewing and Revising the Business Plan

Regularly review and update your business plan to ensure it remains relevant and reflects the organization's current situation and goals. This iterative process enables proactive adjustments to strategies and tactics in response to changing market conditions and business realities.

Components of a Business Plan

Executive summary.

The executive summary provides a high-level overview of your business plan, touching on the company's mission, objectives, strategies, and key financial projections.

It is critical to make this section concise and engaging, as it is often the first section that potential investors or partners will read.

Company Description

The company description offers a detailed overview of your organization, including its history, mission, values, and legal structure. It also outlines the company's goals and objectives and explains how the business addresses a market need or problem.

Products or Services

Describe the products or services your company offers, emphasizing their unique features, benefits, and competitive advantages. Detail the development process, lifecycle, and intellectual property rights, if applicable.

Market Analysis

The market analysis section delves into the industry, target market, and competition. It should demonstrate a thorough understanding of market trends, growth potential, customer demographics, and competitive landscape.

Marketing and Sales Strategy

Outline your organization's approach to promoting and selling its products or services. This includes marketing channels, sales tactics, pricing strategies, and customer relationship management .

Management and Organization

This section provides an overview of your company's management team, including their backgrounds, roles, and responsibilities. It also outlines the organizational structure and any advisory or support services employed by the company.

Operational Plan

The operational plan describes the day-to-day operations of your business, including facilities, equipment, technology, and personnel requirements. It also covers supply chain management, production processes, and quality control measures.

Financial Plan

The financial plan is a crucial component of your business plan, providing a comprehensive view of your organization's financial health and projections.

This section should include income statements , balance sheets , cash flow statements , and break-even analysis for at least three to five years. Be sure to provide clear assumptions and justifications for your projections.

Appendices and Supporting Documents

The appendices and supporting documents section contains any additional materials that support or complement the information provided in the main body of the business plan. This may include resumes of key team members, patents , licenses, contracts, or market research data.

Benefits of Business Planning

Helps secure funding and investment.

A well-crafted business plan demonstrates to potential investors and lenders that your organization is well-organized, has a clear vision, and is financially viable. It increases your chances of securing the funding needed for growth and expansion.

Provides a Roadmap for Growth and Success

A business plan serves as a roadmap that guides your organization's growth and development. It helps you set realistic goals, identify opportunities, and anticipate challenges, enabling you to make informed decisions and allocate resources effectively.

Enables Effective Decision-Making

Having a comprehensive business plan enables you and your management team to make well-informed decisions, based on a clear understanding of the organization's goals, strategies, and financial situation.

Facilitates Communication and Collaboration

A business plan serves as a communication tool that fosters collaboration and alignment among team members, ensuring that everyone is working towards the same objectives and understands the organization's strategic direction.

Business planning should not be a one-time activity; instead, it should be an ongoing process that is continually reviewed and updated to reflect changing market conditions, business realities, and organizational goals.

This dynamic approach to planning ensures that your organization remains agile, responsive, and primed for success.

As the business landscape continues to evolve, organizations must embrace new technologies, methodologies, and tools to stay competitive.

The future of business planning will involve leveraging data-driven insights, artificial intelligence, and predictive analytics to create more accurate and adaptive plans that can quickly respond to a rapidly changing environment.

By staying ahead of the curve, businesses can not only survive but thrive in the coming years.

Business Planning FAQs

What is business planning, and why is it important.

Business planning is the process of setting goals, outlining strategies, and creating a roadmap for your company's future. It's important because it helps you identify opportunities and risks, allocate resources effectively, and stay on track to achieve your goals.

What are the key components of a business plan?

A business plan typically includes an executive summary, company description, market analysis, organization and management structure, product or service line, marketing and sales strategies, and financial projections.

How often should I update my business plan?

It is a good idea to review and update your business plan annually, or whenever there's a significant change in your industry or market conditions.

What are the benefits of business planning?

Effective business planning can help you anticipate challenges, identify opportunities for growth, improve decision-making, secure financing, and stay ahead of competitors.

Do I need a business plan if I am not seeking funding?

Yes, even if you're not seeking funding, a business plan can be a valuable tool for setting goals, developing strategies, and keeping your team aligned and focused on achieving your objectives.

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide , a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University , where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon , Nasdaq and Forbes .

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What Is Business Planning?

Why Business Planning Isn't Just for Startups

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

Morsa Images / Getty Images

Business planning takes place when the key stakeholders in a business sit down and flesh out all the goals , strategies, and actions that they envision taking to ensure the business’s survival, prosperity, and growth.

Here are some strategies for business planning and the ways it can benefit your business.

Business planning can play out in many different ways. Anytime upper management comes together to plan for the success of a business, it is a form of business planning. Business planning commonly involves collecting ideas in a formal business plan that outlines a summary of the business's current state, as well as the state of the broader market, along with detailed steps the business will take to improve performance in the coming period.

Business plans aren't just about money. The business plan outlines the general planning needed to start and run a successful business, and that includes profits, but it also goes beyond that. A plan should account for everything from scoping out the competition and figuring out how your new business will fit into the industry to assessing employee morale and planning for how to retain talent.

How Does Business Planning Work?

Every new business needs a business plan —a blueprint of how you will develop your new business, backed by research, that demonstrates how the business idea is viable. If your new business idea requires investment capital, you will have a better chance of obtaining debt or equity financing from financial institutions, angel investors , or venture capitalists if you have a solid business plan to back up your ideas.

Businesses should prepare a business plan, even if they don't need to attract investors or secure loans.

Post-Startup Business Planning

The business plan isn’t a set-it-and-forget-it planning exercise. It should be a living document that is updated throughout the life cycle of your business.

Once the business has officially started, business planning will shift to setting and meeting goals and targets. Business planning is most effective when it’s done on a consistent schedule that revisits existing goals and projects throughout the year, perhaps even monthly. In addition to reviewing short-term goals throughout the year, it's also important to establish a clear vision and lay the path for your long-term success.

Daily business planning is an incredibly effective way for individuals to focus on achieving both their own goals and the goals of the organization.

Sales Forecasting

The sales forecast is a key section of the business plan that needs to be constantly tracked and updated. The sales forecast is an estimate of the sales of goods and services your business is likely to achieve over the forecasted period, along with the estimated profit from those sales. The forecast should take into account trends in your industry, the general economy, and the projected needs of your primary customers.

Cash Flow Analysis

Another crucial component of business planning is cash flow analysis. Avoiding extended cash flow shortages is vital for businesses, and many business failures can be blamed on cash flow problems.

Your business may have a large, lucrative order on the books, but if it can't be invoiced until the job is completed, then you may run into cash flow problems. That scenario can get even worse if you have to hire staff, purchase inventory, and make other expenditures in the meantime to complete the project.

Performing regular cash flow projections is an important part of business planning. If managed properly, cash flow shortages can be covered by additional financing or equity investment.

Business Contingency Planning

In addition to business planning for profit and growth, your business should have a contingency plan. Contingency business planning (also known as business continuity planning or disaster planning) is the type of business planning that deals with crises and worst-case scenarios. A business contingency plan helps businesses deal with sudden emergencies, unexpected events, and new information that could disrupt your business.

The goals of a contingency plan are to:

• Provide for the safety and security of yourself, your employees, and your customers in the event of a fire, flood, robbery, data breach, illness, or some other disaster
• Ensure that your business can resume operations after an emergency as quickly as possible

Business Succession Planning

If your business is a family enterprise or you have specific plans for who you want to take over in the event of your retirement or illness, then you should have a plan in place to hand over control of the business . The issues of management, ownership, and taxes can cause a great deal of discord within families unless a succession plan is in place that clearly outlines the process.

Key Takeaways

• Business planning is when key stakeholders review the state of their business and plan for how they will improve the business in the future.
• Business planning isn't a one-off event—it should be an ongoing practice of self-assessment and planning.
• Business planning isn't just about improving sales; it can also address safety during natural disasters or the transfer of power after an owner retires.

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Job Description

Business Planning Manager job description

Example business planning manager requirements on a job description.

• Bachelor's degree in Business Administration or relevant field
• At least 5 years of experience in business planning
• Proficiency in project management software
• Experience in financial and data analysis
• Familiarity with market research techniques
• Excellent communication, interpersonal and presentation skills
• Strong problem-solving and organizational abilities
• High degree of motivation and leadership
• Ability to multitask and meet deadlines
• Strategic thinking and decision-making skills

Business Planning Manager job description example 1

Masonite business planning manager job description, business planning manager job description example 2, nordstrom business planning manager job description, business planning manager job description example 3, aldi usa business planning manager job description, resources for employers posting business planning manager jobs.

Business Planning Manager job description FAQs

What are the most common skills on a job description for a business planning manager, what does a business planning manager do.

Updated March 14, 2024

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

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Top 12 Business Planning Manager Skills to Put on Your Resume

A well-crafted resume highlighting essential skills is crucial for aspiring business planning managers aiming to stand out in the competitive job market. This article delves into the top 12 skills that are not only sought after by employers but also pivotal in navigating the complexities of business planning and strategy execution effectively.

Business Planning Manager Skills

• Forecasting
• Market Analysis
• Strategic Planning
• Project Management
• Risk Management
• Financial Modeling

1. Forecasting

Forecasting in a business context is the process of predicting future trends, sales, demand, and other financial outcomes based on historical data, market analysis, and statistical methods to guide decision-making and strategic planning.

Why It's Important

Forecasting is crucial for a Business Planning Manager as it enables informed decision-making by predicting future trends, demands, and challenges, allowing for strategic planning, resource allocation, and risk management to achieve organizational goals efficiently.

How to Improve Forecasting Skills

Improving forecasting, particularly for a Business Planning Manager, involves a combination of leveraging advanced analytics, continuously refining processes, and incorporating real-time data. Here are key strategies:

Implement Advanced Analytics : Use statistical methods and machine learning algorithms for more accurate predictions. Tools like Forecast Pro and SAS Forecasting can be helpful.

Integrate Real-Time Data : Ensure your forecasting model incorporates current market trends and data. Real-time data platforms like Domo can enhance responsiveness.

Collaborative Planning : Foster collaboration across departments to ensure all relevant insights and data points are considered. Software like Anaplan supports such collaborative efforts.

Continuous Improvement : Regularly review and adjust forecasts based on performance and feedback. This iterative process is key in refining accuracy.

Scenario Planning : Develop multiple forecasts based on different scenarios to anticipate a range of outcomes. Tools like Quantrix can facilitate scenario analysis.

Training and Skills Development : Ensure the team is proficient in the latest forecasting techniques and tools. Online courses from platforms like Coursera or edX offer relevant training.

Incorporating these strategies will enhance forecasting accuracy and reliability, crucial for effective business planning and decision-making.

How to Display Forecasting Skills on Your Resume

2. Budgeting

Budgeting is the process of creating a plan to allocate an organization's financial resources over a specific period, helping a Business Planning Manager ensure operational activities align with strategic goals, control costs, and forecast financial performance.

Budgeting is crucial for a Business Planning Manager as it provides a financial roadmap for achieving strategic goals, ensuring efficient allocation of resources, maintaining operational control, and facilitating informed decision-making to optimize profitability and growth.

How to Improve Budgeting Skills

Improving budgeting in a business context involves several key steps tailored for a Business Planning Manager. Here are concise strategies:

Automate Processes : Utilize budgeting software to streamline data collection and analysis. Tools like QuickBooks or Xero can automate repetitive tasks, reducing errors and saving time.

Implement Rolling Forecasts : Instead of traditional annual budgets, adopt a rolling forecast approach to adjust your budgeting in real-time based on actual performance and market conditions.

Engage Stakeholders : Involve all relevant stakeholders in the budgeting process to ensure alignment and accountability. This Harvard Business Review article highlights the importance of team involvement.

Scenario Planning : Develop different financial scenarios to anticipate potential challenges and opportunities, allowing for more flexible budgeting.

Continuous Improvement : Regularly review and adjust the budgeting process, incorporating feedback to enhance efficiency and accuracy. Resources like CFO.com offer insights and best practices for ongoing improvement.

Benchmarking : Compare your budgeting practices and performance against similar businesses or industry standards to identify areas for improvement. Websites like IBISWorld provide industry reports and benchmarks.

Training and Education : Ensure that all team members involved in the budgeting process have access to training on the latest tools and methodologies. Platforms like Coursera and Udemy offer courses on finance and budgeting.

By implementing these strategies, a Business Planning Manager can significantly improve the budgeting process, making it more efficient, accurate, and adaptable to change.

How to Display Budgeting Skills on Your Resume

Excel is a spreadsheet software developed by Microsoft, widely used for data analysis, financial modeling, and business planning through its powerful tools for calculations, graphing, pivot tables, and macro programming.

Excel is crucial for a Business Planning Manager as it provides powerful tools for analyzing data, creating financial models, forecasting trends, and making informed strategic decisions, thereby enhancing planning accuracy and efficiency.

How to Improve Excel Skills

To improve your Excel skills for business planning, focus on the following concise steps:

Master Advanced Formulas : Understand complex formulas like INDEX-MATCH, INDIRECT, and array formulas. Resources like ExcelJet can be invaluable.

Leverage PivotTables and PivotCharts : Enhance data analysis and reporting. Microsoft’s PivotTable guide is a great starting point.

Utilize Data Validation Tools : Ensure data integrity by using Excel’s data validation features. The Data Validation Guide by Microsoft offers comprehensive insights.

Automate with Macros and VBA : Automate repetitive tasks to save time. Start with Excel's Record Macro feature and explore VBA for more complex automation.

Explore Power Query for Data Management : Import, transform, and automate data processes efficiently. Microsoft’s Power Query documentation provides an excellent overview.

Use Power BI for Advanced Analytics : For deeper insights and visualization, integrate Excel with Power BI. Explore Microsoft’s Power BI learning resources.

Stay Updated and Practice : Excel is constantly evolving; stay updated with new features and practice regularly. Websites like Chandoo.org offer tutorials and forums for exchange of advanced Excel techniques.

By focusing on these areas, you will significantly enhance your Excel capabilities, making you more efficient and effective in business planning.

How to Display Excel Skills on Your Resume

SAP is a leading enterprise resource planning (ERP) software used by businesses to manage and integrate important functions such as finance, supply chain, human resources, and customer relations.

SAP is crucial for a Business Planning Manager as it integrates core business processes, enabling efficient planning, streamlined operations, and informed decision-making, thus facilitating optimal resource allocation and enhanced profitability.

How to Improve SAP Skills

Improving SAP (Systems, Applications, and Products in Data Processing) for a Business Planning Manager involves enhancing system performance, data accuracy, and process efficiency. Here’s a short guide:

Streamline Processes : Review and optimize existing SAP processes to eliminate redundancies and streamline operations. Use SAP's Best Practices as a guide.

Data Accuracy : Implement regular data cleaning and validation routines to ensure data integrity. Utilize SAP's Data Quality Management tools.

Training and Support : Provide continuous training and support to users to enhance their SAP skills. SAP's Learning Hub offers resources and training modules.

Customization and Integration : Customize SAP solutions to fit your business needs and integrate with other tools and platforms for a seamless workflow. Explore SAP API Business Hub for integration options.

Upgrade and Maintenance : Regularly update the SAP system to the latest version to leverage new features and improvements. The SAP Support Portal provides updates and maintenance information.

Performance Monitoring : Use SAP Solution Manager for continuous monitoring and to identify areas for performance improvement. Details at SAP Solution Manager .

Feedback Loop : Establish a feedback loop with end-users to gather insights and improve the SAP experience based on actual user needs.

By focusing on these areas, a Business Planning Manager can significantly improve SAP's effectiveness and efficiency within their organization.

How to Display SAP Skills on Your Resume

Tableau is a powerful data visualization tool used by Business Planning Managers to analyze, visualize, and share data insights to inform strategic decisions and planning.

Tableau is important for a Business Planning Manager because it enables efficient data visualization and analysis, facilitating informed decision-making and strategic planning through interactive and easily understandable dashboards.

How to Improve Tableau Skills

Improving your Tableau skills as a Business Planning Manager involves a focused approach towards mastering data visualization, analytics, and storytelling. Here are concise steps with relevant resources:

Master Tableau Fundamentals : Ensure you have a strong grasp of the basics. Tableau offers official training materials that cover everything from data connection to visualization.

Advanced Tableau Techniques : Dive into advanced functionalities like calculated fields, parameters, and dashboard actions to provide deeper insights. Explore Tableau's Advanced Analytics guide.

Data Storytelling : Enhance your ability to tell compelling stories with your data. This skill is crucial for business planning. Learn more through the Data Storytelling with Tableau course by Tableau.

Practice with Real Data : Apply your skills on real business data. Participate in projects or use datasets relevant to your industry. The Tableau Public gallery provides inspiration and examples.

Stay Updated : Tableau's capabilities are constantly evolving. Follow the Tableau Blog for updates, tips, and community insights.

Join the Community : Engage with the Tableau Community through forums, user groups, and social media. Exchange knowledge and get feedback. Start with the Tableau Community Forums .

Certification : Consider obtaining a Tableau certification. It validates your skills and can provide a structured path for learning. Check the Tableau Certification page for more details.

By focusing on these areas, you'll significantly improve your Tableau skills, enhancing your effectiveness as a Business Planning Manager.

How to Display Tableau Skills on Your Resume

SQL (Structured Query Language) is a programming language used for managing and manipulating relational databases, enabling you to retrieve, insert, update, and delete data to support business analysis and decision-making processes.

SQL is crucial for a Business Planning Manager as it enables efficient data retrieval and analysis, facilitating informed decision-making and strategic planning based on accurate, up-to-date information from the business's databases.

How to Improve SQL Skills

Improving SQL skills, especially for a Business Planning Manager, involves focusing on understanding data structures, mastering SQL commands, and applying best practices for data analysis and database management. Here's a very short and concise guide to help you enhance your SQL capabilities:

Learn the Basics : Start with the fundamentals of SQL, including SELECT statements, WHERE clauses, JOINs, and GROUP BY clauses. W3Schools SQL Tutorial is a great resource for beginners.

Practice Regularly : Apply what you've learned by practicing on real datasets. Websites like SQLZoo and LeetCode offer interactive SQL exercises across various difficulty levels.

Understand Database Design : Grasp the principles of database normalization and schema design to optimize how you query and manage data. The StudyTonight Database Design Tutorial provides a solid introduction.

Learn Advanced SQL : Enhance your skills by learning about stored procedures, triggers, and advanced functions. The Mode Analytics SQL Tutorial covers these advanced topics in an accessible manner.

Optimize SQL Queries : Learn to write efficient SQL queries that run faster and use fewer resources. The Use The Index, Luke guide offers insights into how you can optimize your SQL queries through better indexing.

Stay Updated and Network : Join SQL and database management communities. Platforms like Stack Overflow and Reddit’s r/SQL are valuable for staying updated with the latest trends and networking with other professionals.

Utilize Real-World Projects : Apply your skills to business-related projects or datasets relevant to your role. This practical application will deepen your understanding and showcase the business value of your SQL skills.

By following these steps and leveraging the provided resources, you'll be well on your way to improving your SQL skills, enabling you to make more informed decisions and better support your organization's strategic goals.

How to Display SQL Skills on Your Resume

7. PowerPoint

PowerPoint is a presentation software developed by Microsoft that allows users to create, edit, and display slideshows for business planning, communication, and reporting purposes.

PowerPoint is essential for a Business Planning Manager as it enables effective communication of strategic plans, data visualization, and stakeholder engagement through professional and succinct presentations.

How to Improve PowerPoint Skills

To enhance your PowerPoint presentations as a Business Planning Manager, focus on clarity, engagement, and professionalism. Here's a concise guide:

Design & Layout : Use a clean, professional template that aligns with your brand. Avoid clutter on slides to ensure readability.

Visuals : Incorporate high-quality images and charts to illustrate points clearly. Tools like Canva or Piktochart offer professional design elements.

Storytelling : Structure your presentation as a story, with a clear beginning, middle, and end. This approach keeps the audience engaged. Tips on storytelling can be found at Annette Simmons’ website .

Data Presentation : Use tools like Tableau for dynamic data visualization, making complex data understandable at a glance.

Interactivity : Incorporate interactive elements such as polls or quizzes with tools like Mentimeter to engage your audience.

Practice & Delivery : Practice your presentation multiple times. Familiarity with your content allows for a more natural delivery. Consider recording yourself with tools like Loom for self-review.

Feedback : Seek feedback from peers before the final presentation to refine your content and delivery. Use collaborative platforms like Google Slides for easy sharing and feedback collection.

Continuous Learning : Stay updated with the latest trends and features in presentation software. Microsoft offers PowerPoint training courses that could be beneficial.

By focusing on these areas, you'll create more impactful and professional presentations that effectively communicate your business plans.

How to Display PowerPoint Skills on Your Resume

8. Market Analysis

Market analysis is the process of assessing the dynamics and viability of a specific market within an industry, focusing on understanding the demand, supply, competitors, and customer preferences. For a Business Planning Manager, it serves as a critical tool for strategic decision-making, guiding the development of competitive products, pricing strategies, and market entry or expansion plans.

Market analysis is crucial for a Business Planning Manager as it provides insights into industry trends, customer needs, competition, and potential market opportunities, enabling informed decision-making and strategic planning for business growth and sustainability.

How to Improve Market Analysis Skills

Improving market analysis involves a combination of leveraging high-quality data sources, employing advanced analytical tools, and continuously updating your understanding of market dynamics. Here are concise steps a Business Planning Manager can take:

Utilize Diverse Data Sources : Combine quantitative data from Statista for market statistics with qualitative insights from IBISWorld for industry reports, ensuring a well-rounded view of the market.

Leverage Advanced Analytical Tools : Adopt tools like Tableau for data visualization and Google Analytics for web traffic analysis to uncover patterns and trends that inform strategic decisions.

Conduct Competitor Analysis : Use platforms like Crunchbase to track competitor movements and SEMrush for SEO and online presence analysis, helping you identify competitive advantages and threats.

Engage with Your Audience : Utilize surveys and feedback tools like SurveyMonkey to understand customer needs and preferences directly, providing actionable insights for market positioning.

Stay Informed on Industry Trends : Regularly read industry publications and reports from McKinsey & Company for strategic insights and Trend Watching for consumer trends, keeping your analysis current.

Implement Continuous Learning : Enroll in online courses on platforms like Coursera or Udemy that offer specific training on market analysis techniques, ensuring your skills remain sharp and up-to-date.

By consistently applying these strategies, a Business Planning Manager can significantly enhance the quality and relevance of market analysis, thereby informing more strategic and data-driven business planning decisions.

How to Display Market Analysis Skills on Your Resume

9. Strategic Planning

Strategic planning is the process of defining a business's direction and making decisions on allocating its resources to pursue this strategy, including its capital and people, to achieve long-term goals and objectives.

Strategic planning is crucial because it provides a business planning manager with a clear roadmap for achieving long-term goals, aligns resources with priorities, anticipates challenges, and facilitates proactive decision-making to navigate competitive landscapes and adapt to market changes effectively.

How to Improve Strategic Planning Skills

Improving strategic planning, especially from the perspective of a Business Planning Manager, involves a focused approach on aligning the company's long-term goals with actionable strategies. Here are concise steps to enhance this process:

Understand Market Dynamics : Stay informed about industry trends and market demands. Tools like SWOT analysis can help identify strengths, weaknesses, opportunities, and threats.

Define Clear Objectives : Establish specific, measurable, achievable, relevant, and time-bound (SMART) goals. This guide provides a comprehensive understanding of setting SMART goals.

Engage Stakeholders : Ensure continuous engagement with all stakeholders to align expectations and gain valuable insights. Harvard Business Review offers insights into successful stakeholder engagement in strategic planning.

Leverage Data Analytics : Utilize data analytics to make informed decisions. Platforms like Tableau help in analyzing data for strategic planning.

Implement Agile Methodologies : Incorporate agile practices to adapt quickly to changes. This Agile Business Consortium resource explains how agile methodologies can be applied in strategic planning.

Monitor and Adapt : Regularly review strategies and adapt as necessary. Kaplan and Norton’s Balanced Scorecard is a strategic planning and management system that can aid in monitoring performance and aligning business activities to the vision and strategy of the organization.

Foster a Culture of Innovation : Encourage creativity and innovation within the team. Forbes discusses strategies for creating a culture of innovation.

By following these steps and leveraging the resources provided, a Business Planning Manager can significantly improve the strategic planning process, ensuring the organization remains competitive and agile in a rapidly changing business environment.

How to Display Strategic Planning Skills on Your Resume

10. Project Management

Project management involves planning, executing, monitoring, and closing projects to achieve specific goals within a set timeframe and budget, ensuring resources are optimally utilized. For a Business Planning Manager, it means orchestrating tasks and resources to align with strategic business objectives.

Project management is essential for ensuring that a project aligns with business goals, is completed on time, within budget, and meets quality standards, thus enabling efficient resource utilization, risk mitigation, and achievement of strategic objectives.

How to Improve Project Management Skills

Improving project management, especially for a Business Planning Manager, involves a strategic approach focusing on planning, execution, and continuous improvement. Here are concise steps with resources for deeper understanding:

Define Clear Objectives and Goals : Establish clear, measurable objectives for each project. SMART goals provide a framework for setting specific, measurable, achievable, relevant, and time-bound goals.

Implement Project Management Methodologies : Choose a project management methodology (e.g., Agile, Scrum, Waterfall) that best suits the project's needs. PMI’s guide offers insights into various methodologies.

Utilize Project Management Tools : Leverage project management software for planning, scheduling, resource allocation, and communication. Capterra’s list helps identify the best tools.

Enhance Team Communication : Foster open and effective communication within the team. Tools like Slack or Microsoft Teams can improve team collaboration.

Risk Management : Identify potential risks early and develop mitigation strategies. The Project Management Institute provides techniques for managing project risks.

Continuous Learning and Improvement : Encourage feedback and lessons learned from each project to improve processes and outcomes. Harvard Business Review offers insights into effective feedback mechanisms.

Develop Leadership Skills : Strong leadership is crucial for successful project management. Forbes highlights key leadership skills for modern managers.

Implementing these strategies can significantly enhance project management efficiency and effectiveness for Business Planning Managers.

How to Display Project Management Skills on Your Resume

11. Risk Management

Risk Management in the context of a Business Planning Manager involves identifying, assessing, and prioritizing potential risks that could impact the organization's objectives, and developing strategies to minimize, monitor, and control the probability or impact of these adverse events.

Risk Management is crucial as it helps a Business Planning Manager identify, assess, and prioritize risks to minimize, monitor, and control the probability and impact of unforeseen events, ensuring the stability and profitability of the business.

How to Improve Risk Management Skills

To improve Risk Management as a Business Planning Manager, focus on the following steps:

Identify Risks : Recognize potential risks that could affect your project or business operations. Utilize tools like SWOT analysis to systematically identify risks.

Assess Risks : Evaluate the likelihood and impact of identified risks. Techniques such as Risk Matrix can help in prioritizing risks based on their severity.

Develop Strategies : Formulate strategies to mitigate, transfer, accept, or avoid risks. This involves creating action plans that can be implemented in response to the risks identified. Risk Mitigation Planning is crucial at this stage.

Implement Solutions : Execute the risk mitigation strategies. This might involve reallocating resources, purchasing insurance, or establishing contingency plans.

Monitor and Review : Continuously monitor the risk environment and review the effectiveness of your risk management strategies. Tools like Risk Registers can help in tracking identified risks and actions taken.

Communicate : Ensure effective communication of the risk management processes and findings with all stakeholders. This helps in ensuring transparency and preparedness across the organization.

For a comprehensive guide, the Project Management Institute (PMI) offers resources and certifications in risk management that can further enhance your skills and strategies in managing risks within business planning.

How to Display Risk Management Skills on Your Resume

12. Financial Modeling

Financial modeling is the process of creating a mathematical representation of a company's financial performance, including its income, expenses, and profitability, to inform business planning and decision-making.

Financial modeling is crucial for a Business Planning Manager as it provides a comprehensive tool for analyzing a company's financial performance, forecasting future financial outcomes, and aiding in strategic decision-making, thus ensuring informed, data-driven planning and investment strategies.

How to Improve Financial Modeling Skills

Improving financial modeling, especially for a Business Planning Manager, involves a blend of sharpening technical skills, enhancing business understanding, and adopting best practices in modeling. Here are concise steps to improve financial modeling:

Expand Excel Skills : Master advanced Excel functions relevant to financial modeling. Online platforms like ExcelJet offer tutorials on functions, shortcuts, and advanced formulas.

Learn Best Practices : Adopt financial modeling standards for consistency and accuracy. The Financial Modeling Institute provides resources and certifications to elevate your modeling skills.

Understand the Business : Deepen your industry and company-specific knowledge. Investopedia is a great resource for broadening your understanding of business and financial concepts.

Build from Templates : Use and customize industry-specific templates as a starting point. Websites like eFinancialModels offer a variety of templates for different business scenarios.

Practice Scenario Analysis : Incorporate scenario and sensitivity analysis to understand the impact of assumptions. Learning resources on scenario analysis can be found on platforms like Corporate Finance Institute (CFI) .

Continuous Learning : Stay updated with the latest trends and tools in financial modeling by enrolling in courses and certifications from recognized institutions such as CFI .

Feedback and Review : Regularly seek feedback on your models from peers and superiors to identify areas for improvement.

By following these steps and leveraging the suggested resources, a Business Planning Manager can significantly enhance their financial modeling capabilities.

How to Display Financial Modeling Skills on Your Resume

Related Career Skills

• Demand Planning Manager
• Strategic Planning Manager
• Planning Engineer
• Planning Analyst
• Financial Planning Analyst
• Strategic Planning Analyst

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• Business strategy |
• What is strategic planning? A 5-step gu ...

What is strategic planning? A 5-step guide

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. In this article, we'll guide you through the strategic planning process, including why it's important, the benefits and best practices, and five steps to get you from beginning to end.

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. The strategic planning process informs your organization’s decisions, growth, and goals.

Strategic planning helps you clearly define your company’s long-term objectives—and maps how your short-term goals and work will help you achieve them. This, in turn, gives you a clear sense of where your organization is going and allows you to ensure your teams are working on projects that make the most impact. Think of it this way—if your goals and objectives are your destination on a map, your strategic plan is your navigation system.

In this article, we walk you through the 5-step strategic planning process and show you how to get started developing your own strategic plan.

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What is strategic planning?

Strategic planning is a business process that helps you define and share the direction your company will take in the next three to five years. During the strategic planning process, stakeholders review and define the organization’s mission and goals, conduct competitive assessments, and identify company goals and objectives. The product of the planning cycle is a strategic plan, which is shared throughout the company.

What is a strategic plan?

A strategic plan is the end result of the strategic planning process. At its most basic, it’s a tool used to define your organization’s goals and what actions you’ll take to achieve them.

Typically, your strategic plan should include: 

Your company’s mission statement

Your organizational goals, including your long-term goals and short-term, yearly objectives

Any plan of action, tactics, or approaches you plan to take to meet those goals

What are the benefits of strategic planning?

Strategic planning can help with goal setting and decision-making by allowing you to map out how your company will move toward your organization’s vision and mission statements in the next three to five years. Let’s circle back to our map metaphor. If you think of your company trajectory as a line on a map, a strategic plan can help you better quantify how you’ll get from point A (where you are now) to point B (where you want to be in a few years).

When you create and share a clear strategic plan with your team, you can:

Build a strong organizational culture by clearly defining and aligning on your organization’s mission, vision, and goals.

Align everyone around a shared purpose and ensure all departments and teams are working toward a common objective.

Proactively set objectives to help you get where you want to go and achieve desired outcomes.

Promote a long-term vision for your company rather than focusing primarily on short-term gains.

Ensure resources are allocated around the most high-impact priorities.

Define long-term goals and set shorter-term goals to support them.

Assess your current situation and identify any opportunities—or threats—allowing your organization to mitigate potential risks.

Create a proactive business culture that enables your organization to respond more swiftly to emerging market changes and opportunities.

What are the 5 steps in strategic planning?

The strategic planning process involves a structured methodology that guides the organization from vision to implementation. The strategic planning process starts with assembling a small, dedicated team of key strategic planners—typically five to 10 members—who will form the strategic planning, or management, committee. This team is responsible for gathering crucial information, guiding the development of the plan, and overseeing strategy execution.

Once you’ve established your management committee, you can get to work on the planning process. 

Step 1: Assess your current business strategy and business environment

Before you can define where you’re going, you first need to define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning.

To do this, your management committee should collect a variety of information from additional stakeholders, like employees and customers. In particular, plan to gather:

Relevant industry and market data to inform any market opportunities, as well as any potential upcoming threats in the near future.

Customer insights to understand what your customers want from your company—like product improvements or additional services.

Employee feedback that needs to be addressed—whether about the product, business practices, or the day-to-day company culture.

Consider different types of strategic planning tools and analytical techniques to gather this information, such as:

A balanced scorecard to help you evaluate four major elements of a business: learning and growth, business processes, customer satisfaction, and financial performance.

A SWOT analysis to help you assess both current and future potential for the business (you’ll return to this analysis periodically during the strategic planning process). 

To fill out each letter in the SWOT acronym, your management committee will answer a series of questions:

What does your organization currently do well?

What separates you from your competitors?

What are your most valuable internal resources?

What tangible assets do you have?

What is your biggest strength? 

Weaknesses:

What does your organization do poorly?

What do you currently lack (whether that’s a product, resource, or process)?

What do your competitors do better than you?

What, if any, limitations are holding your organization back?

What processes or products need improvement? 

Opportunities:

What opportunities does your organization have?

How can you leverage your unique company strengths?

Are there any trends that you can take advantage of?

How can you capitalize on marketing or press opportunities?

Is there an emerging need for your product or service? 

What emerging competitors should you keep an eye on?

Are there any weaknesses that expose your organization to risk?

Have you or could you experience negative press that could reduce market share?

Is there a chance of changing customer attitudes towards your company? 

Step 2: Identify your company’s goals and objectives

To begin strategy development, take into account your current position, which is where you are now. Then, draw inspiration from your vision, mission, and current position to identify and define your goals—these are your final destination. 

To develop your strategy, you’re essentially pulling out your compass and asking, “Where are we going next?” “What’s the ideal future state of this company?” This can help you figure out which path you need to take to get there.

During this phase of the planning process, take inspiration from important company documents, such as:

Your mission statement, to understand how you can continue moving towards your organization’s core purpose.

Your vision statement, to clarify how your strategic plan fits into your long-term vision.

Your company values, to guide you towards what matters most towards your company.

Your competitive advantages, to understand what unique benefit you offer to the market.

Your long-term goals, to track where you want to be in five or 10 years.

Your financial forecast and projection, to understand where you expect your financials to be in the next three years, what your expected cash flow is, and what new opportunities you will likely be able to invest in.

Step 3: Develop your strategic plan and determine performance metrics

Now that you understand where you are and where you want to go, it’s time to put pen to paper. Take your current business position and strategy into account, as well as your organization’s goals and objectives, and build out a strategic plan for the next three to five years. Keep in mind that even though you’re creating a long-term plan, parts of your plan should be created or revisited as the quarters and years go on.

As you build your strategic plan, you should define:

Company priorities for the next three to five years, based on your SWOT analysis and strategy.

Yearly objectives for the first year. You don’t need to define your objectives for every year of the strategic plan. As the years go on, create new yearly objectives that connect back to your overall strategic goals . 

Related key results and KPIs. Some of these should be set by the management committee, and some should be set by specific teams that are closer to the work. Make sure your key results and KPIs are measurable and actionable. These KPIs will help you track progress and ensure you’re moving in the right direction.

Budget for the next year or few years. This should be based on your financial forecast as well as your direction. Do you need to spend aggressively to develop your product? Build your team? Make a dent with marketing? Clarify your most important initiatives and how you’ll budget for those.

A high-level project roadmap . A project roadmap is a tool in project management that helps you visualize the timeline of a complex initiative, but you can also create a very high-level project roadmap for your strategic plan. Outline what you expect to be working on in certain quarters or years to make the plan more actionable and understandable.

Step 4: Implement and share your plan

Now it’s time to put your plan into action. Strategy implementation involves clear communication across your entire organization to make sure everyone knows their responsibilities and how to measure the plan’s success. 

Make sure your team (especially senior leadership) has access to the strategic plan, so they can understand how their work contributes to company priorities and the overall strategy map. We recommend sharing your plan in the same tool you use to manage and track work, so you can more easily connect high-level objectives to daily work. If you don’t already, consider using a work management platform .  

A few tips to make sure your plan will be executed without a hitch: 

Communicate clearly to your entire organization throughout the implementation process, to ensure all team members understand the strategic plan and how to implement it effectively. 

Define what “success” looks like by mapping your strategic plan to key performance indicators.

Ensure that the actions outlined in the strategic plan are integrated into the daily operations of the organization, so that every team member's daily activities are aligned with the broader strategic objectives.

Utilize tools and software—like a work management platform—that can aid in implementing and tracking the progress of your plan.

Regularly monitor and share the progress of the strategic plan with the entire organization, to keep everyone informed and reinforce the importance of the plan.

Establish regular check-ins to monitor the progress of your strategic plan and make adjustments as needed. 

Step 5: Revise and restructure as needed

Once you’ve created and implemented your new strategic framework, the final step of the planning process is to monitor and manage your plan.

Remember, your strategic plan isn’t set in stone. You’ll need to revisit and update the plan if your company changes directions or makes new investments. As new market opportunities and threats come up, you’ll likely want to tweak your strategic plan. Make sure to review your plan regularly—meaning quarterly and annually—to ensure it’s still aligned with your organization’s vision and goals.

Keep in mind that your plan won’t last forever, even if you do update it frequently. A successful strategic plan evolves with your company’s long-term goals. When you’ve achieved most of your strategic goals, or if your strategy has evolved significantly since you first made your plan, it might be time to create a new one.

Build a smarter strategic plan with a work management platform

To turn your company strategy into a plan—and ultimately, impact—make sure you’re proactively connecting company objectives to daily work. When you can clarify this connection, you’re giving your team members the context they need to get their best work done. 

A work management platform plays a pivotal role in this process. It acts as a central hub for your strategic plan, ensuring that every task and project is directly tied to your broader company goals. This alignment is crucial for visibility and coordination, allowing team members to see how their individual efforts contribute to the company’s success. 

By leveraging such a platform, you not only streamline workflow and enhance team productivity but also align every action with your strategic objectives—allowing teams to drive greater impact and helping your company move toward goals more effectively. 

Strategic planning FAQs

Still have questions about strategic planning? We have answers.

Why do I need a strategic plan?

A strategic plan is one of many tools you can use to plan and hit your goals. It helps map out strategic objectives and growth metrics that will help your company be successful.

When should I create a strategic plan?

You should aim to create a strategic plan every three to five years, depending on your organization’s growth speed.

Since the point of a strategic plan is to map out your long-term goals and how you’ll get there, you should create a strategic plan when you’ve met most or all of them. You should also create a strategic plan any time you’re going to make a large pivot in your organization’s mission or enter new markets. 

What is a strategic planning template?

A strategic planning template is a tool organizations can use to map out their strategic plan and track progress. Typically, a strategic planning template houses all the components needed to build out a strategic plan, including your company’s vision and mission statements, information from any competitive analyses or SWOT assessments, and relevant KPIs.

What’s the difference between a strategic plan vs. business plan?

A business plan can help you document your strategy as you’re getting started so every team member is on the same page about your core business priorities and goals. This tool can help you document and share your strategy with key investors or stakeholders as you get your business up and running.

You should create a business plan when you’re: 

Just starting your business

Significantly restructuring your business

If your business is already established, you should create a strategic plan instead of a business plan. Even if you’re working at a relatively young company, your strategic plan can build on your business plan to help you move in the right direction. During the strategic planning process, you’ll draw from a lot of the fundamental business elements you built early on to establish your strategy for the next three to five years.

What’s the difference between a strategic plan vs. mission and vision statements?

Your strategic plan, mission statement, and vision statements are all closely connected. In fact, during the strategic planning process, you will take inspiration from your mission and vision statements in order to build out your strategic plan.

Simply put: 

A mission statement summarizes your company’s purpose.

A vision statement broadly explains how you’ll reach your company’s purpose.

A strategic plan pulls in inspiration from your mission and vision statements and outlines what actions you’re going to take to move in the right direction. 

For example, if your company produces pet safety equipment, here’s how your mission statement, vision statement, and strategic plan might shake out:

Mission statement: “To ensure the safety of the world’s animals.” 

Vision statement: “To create pet safety and tracking products that are effortless to use.” 

Your strategic plan would outline the steps you’re going to take in the next few years to bring your company closer to your mission and vision. For example, you develop a new pet tracking smart collar or improve the microchipping experience for pet owners. 

What’s the difference between a strategic plan vs. company objectives?

Company objectives are broad goals. You should set these on a yearly or quarterly basis (if your organization moves quickly). These objectives give your team a clear sense of what you intend to accomplish for a set period of time. 

Your strategic plan is more forward-thinking than your company goals, and it should cover more than one year of work. Think of it this way: your company objectives will move the needle towards your overall strategy—but your strategic plan should be bigger than company objectives because it spans multiple years.

What’s the difference between a strategic plan vs. a business case?

A business case is a document to help you pitch a significant investment or initiative for your company. When you create a business case, you’re outlining why this investment is a good idea, and how this large-scale project will positively impact the business. 

You might end up building business cases for things on your strategic plan’s roadmap—but your strategic plan should be bigger than that. This tool should encompass multiple years of your roadmap, across your entire company—not just one initiative.

What’s the difference between a strategic plan vs. a project plan?

A strategic plan is a company-wide, multi-year plan of what you want to accomplish in the next three to five years and how you plan to accomplish that. A project plan, on the other hand, outlines how you’re going to accomplish a specific project. This project could be one of many initiatives that contribute to a specific company objective which, in turn, is one of many objectives that contribute to your strategic plan. 

What’s the difference between strategic management vs. strategic planning?

A strategic plan is a tool to define where your organization wants to go and what actions you need to take to achieve those goals. Strategic planning is the process of creating a plan in order to hit your strategic objectives.

Strategic management includes the strategic planning process, but also goes beyond it. In addition to planning how you will achieve your big-picture goals, strategic management also helps you organize your resources and figure out the best action plans for success. 

Related resources

How Asana uses work management for organizational planning

How Asana uses work management to optimize resource planning

Solve your tech overload with an intelligent transformation

9 steps to craft a successful go-to-market (GTM) strategy

Want to create or adapt books like this? Learn more about how Pressbooks supports open publishing practices.

1.5 Planning, Organizing, Leading, and Controlling

Learning objectives.

• Know the dimensions of the planning-organizing-leading-controlling (P-O-L-C) framework.
• Know the general inputs into each P-O-L-C dimension.

A manager’s primary challenge is to solve problems creatively. While drawing from a variety of academic disciplines, and to help managers respond to the challenge of creative problem solving, principles of management have long been categorized into the four major functions of planning, organizing, leading, and controlling (the P-O-L-C framework). The four functions, summarized in the P-O-L-C figure, are actually highly integrated when carried out in the day-to-day realities of running an organization. Therefore, you should not get caught up in trying to analyze and understand a complete, clear rationale for categorizing skills and practices that compose the whole of the P-O-L-C framework.

It is important to note that this framework is not without criticism. Specifically, these criticisms stem from the observation that the P-O-L-C functions might be ideal but that they do not accurately depict the day-to-day actions of actual managers (Mintzberg, 1973; Lamond, 2004). The typical day in the life of a manager at any level can be fragmented and hectic, with the constant threat of having priorities dictated by the law of the trivial many and important few (i.e., the 80/20 rule). However, the general conclusion seems to be that the P-O-L-C functions of management still provide a very useful way of classifying the activities managers engage in as they attempt to achieve organizational goals (Lamond, 2004).

Figure 1.7 The P-O-L-C Framework

Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives. Planning requires that managers be aware of environmental conditions facing their organization and forecast future conditions. It also requires that managers be good decision makers.

Planning is a process consisting of several steps. The process begins with environmental scanning which simply means that planners must be aware of the critical contingencies facing their organization in terms of economic conditions, their competitors, and their customers. Planners must then attempt to forecast future conditions. These forecasts form the basis for planning.

Planners must establish objectives, which are statements of what needs to be achieved and when. Planners must then identify alternative courses of action for achieving objectives. After evaluating the various alternatives, planners must make decisions about the best courses of action for achieving objectives. They must then formulate necessary steps and ensure effective implementation of plans. Finally, planners must constantly evaluate the success of their plans and take corrective action when necessary.

There are many different types of plans and planning.

Strategic planning involves analyzing competitive opportunities and threats, as well as the strengths and weaknesses of the organization, and then determining how to position the organization to compete effectively in their environment. Strategic planning has a long time frame, often three years or more. Strategic planning generally includes the entire organization and includes formulation of objectives. Strategic planning is often based on the organization’s mission, which is its fundamental reason for existence. An organization’s top management most often conducts strategic planning.

Tactical planning is intermediate-range (one to three years) planning that is designed to develop relatively concrete and specific means to implement the strategic plan. Middle-level managers often engage in tactical planning.

Operational planning generally assumes the existence of organization-wide or subunit goals and objectives and specifies ways to achieve them. Operational planning is short-range (less than a year) planning that is designed to develop specific action steps that support the strategic and tactical plans.

Organizing is the function of management that involves developing an organizational structure and allocating human resources to ensure the accomplishment of objectives. The structure of the organization is the framework within which effort is coordinated. The structure is usually represented by an organization chart, which provides a graphic representation of the chain of command within an organization. Decisions made about the structure of an organization are generally referred to as organizational design decisions.

Organizing also involves the design of individual jobs within the organization. Decisions must be made about the duties and responsibilities of individual jobs, as well as the manner in which the duties should be carried out. Decisions made about the nature of jobs within the organization are generally called “job design” decisions.

Organizing at the level of the organization involves deciding how best to departmentalize, or cluster, jobs into departments to coordinate effort effectively. There are many different ways to departmentalize, including organizing by function, product, geography, or customer. Many larger organizations use multiple methods of departmentalization.

Organizing at the level of a particular job involves how best to design individual jobs to most effectively use human resources. Traditionally, job design was based on principles of division of labor and specialization, which assumed that the more narrow the job content, the more proficient the individual performing the job could become. However, experience has shown that it is possible for jobs to become too narrow and specialized. For example, how would you like to screw lids on jars one day after another, as you might have done many decades ago if you worked in company that made and sold jellies and jams? When this happens, negative outcomes result, including decreased job satisfaction and organizational commitment, increased absenteeism, and turnover.

Recently, many organizations have attempted to strike a balance between the need for worker specialization and the need for workers to have jobs that entail variety and autonomy. Many jobs are now designed based on such principles as empowerment, job enrichment and teamwork . For example, HUI Manufacturing, a custom sheet metal fabricator, has done away with traditional “departments” to focus on listening and responding to customer needs. From company-wide meetings to team huddles, HUI employees know and understand their customers and how HUI might service them best (Huimfg, 2008).

Leading involves the social and informal sources of influence that you use to inspire action taken by others. If managers are effective leaders, their subordinates will be enthusiastic about exerting effort to attain organizational objectives.

The behavioral sciences have made many contributions to understanding this function of management. Personality research and studies of job attitudes provide important information as to how managers can most effectively lead subordinates. For example, this research tells us that to become effective at leading, managers must first understand their subordinates’ personalities, values, attitudes, and emotions.

Studies of motivation and motivation theory provide important information about the ways in which workers can be energized to put forth productive effort. Studies of communication provide direction as to how managers can effectively and persuasively communicate. Studies of leadership and leadership style provide information regarding questions, such as, “What makes a manager a good leader?” and “In what situations are certain leadership styles most appropriate and effective?”

Quality control ensures that the organization delivers on its promises.

International Maize and Wheat Improvement Center – Maize seed quality control at small seed company Bidasem – CC BY-NC-SA 2.0.

Controlling

Controlling involves ensuring that performance does not deviate from standards. Controlling consists of three steps, which include (1) establishing performance standards, (2) comparing actual performance against standards, and (3) taking corrective action when necessary. Performance standards are often stated in monetary terms such as revenue, costs, or profits but may also be stated in other terms, such as units produced, number of defective products, or levels of quality or customer service.

The measurement of performance can be done in several ways, depending on the performance standards, including financial statements, sales reports, production results, customer satisfaction, and formal performance appraisals. Managers at all levels engage in the managerial function of controlling to some degree.

The managerial function of controlling should not be confused with control in the behavioral or manipulative sense. This function does not imply that managers should attempt to control or to manipulate the personalities, values, attitudes, or emotions of their subordinates. Instead, this function of management concerns the manager’s role in taking necessary actions to ensure that the work-related activities of subordinates are consistent with and contributing toward the accomplishment of organizational and departmental objectives.

Effective controlling requires the existence of plans, since planning provides the necessary performance standards or objectives. Controlling also requires a clear understanding of where responsibility for deviations from standards lies. Two traditional control techniques are budget and performance audits. An audit involves an examination and verification of records and supporting documents. A budget audit provides information about where the organization is with respect to what was planned or budgeted for, whereas a performance audit might try to determine whether the figures reported are a reflection of actual performance. Although controlling is often thought of in terms of financial criteria, managers must also control production and operations processes, procedures for delivery of services, compliance with company policies, and many other activities within the organization.

The management functions of planning, organizing, leading, and controlling are widely considered to be the best means of describing the manager’s job, as well as the best way to classify accumulated knowledge about the study of management. Although there have been tremendous changes in the environment faced by managers and the tools used by managers to perform their roles, managers still perform these essential functions.

Key Takeaway

The principles of management can be distilled down to four critical functions. These functions are planning, organizing, leading, and controlling. This P-O-L-C framework provides useful guidance into what the ideal job of a manager should look like.

• What are the management functions that comprise the P-O-L-C framework?
• Are there any criticisms of this framework?
• What function does planning serve?
• What function does organizing serve?
• What function does leading serve?
• What function does controlling serve?

Huimfg.com, http://www.huimfg.com/abouthui-yourteams.aspx (accessed October 15, 2008).

Lamond, D, “A Matter of Style: Reconciling Henri and Henry,” Management Decision 42, no. 2 (2004): 330–56.

Mintzberg, H. The Nature of Managerial Work (New York: Harper & Row, 1973); D. Lamond, “A Matter of Style: Reconciling Henri and Henry,” Management Decision 42 , no. 2 (2004): 330–56.

Principles of Management Copyright © 2015 by University of Minnesota is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License , except where otherwise noted.

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Business Jargons

A Business Encyclopedia

Definition : Planning is the fundamental management function, which involves deciding beforehand , what is to be done, when is it to be done, how it is to be done and who is going to do it. It is an intellectual process which lays down an  organisation’s objectives and develops various courses of action , by which the organisation can achieve those objectives. It chalks out exactly, how to attain a specific goal.

Planning is nothing but thinking before the action takes place . It helps us to take a peep into the future and decide in advance the way to deal with the situations, which we are going to encounter in future. It involves logical thinking and rational decision making.

Characteristics of Planning

• Managerial function : Planning is a first and foremost managerial function provides the base for other functions of the management, i.e. organising, staffing, directing and controlling, as they are performed within the periphery of the plans made.
• Goal oriented : It focuses on defining the goals of the organisation, identifying alternative courses of action and deciding the appropriate action plan, which is to be undertaken for reaching the goals.
• Pervasive : It is pervasive in the sense that it is present in all the segments and is required at all the levels of the organisation. Although the scope of planning varies at different levels and departments.
• Continuous Process : Plans are made for a specific term, say for a month, quarter, year and so on. Once that period is over, new plans are drawn, considering the organisation’s present and future requirements and conditions. Therefore, it is an ongoing process, as the plans are framed, executed and followed by another plan.
• Intellectual Process : It is a mental exercise at it involves the application of mind, to think, forecast, imagine intelligently and innovate etc.
• Futuristic : In the process of planning we take a sneak peek of the future. It encompasses looking into the future, to analyse and predict it so that the organisation can face future challenges effectively.
• Decision making : Decisions are made regarding the choice of alternative courses of action that can be undertaken to reach the goal. The alternative chosen should be best among all, with the least number of the negative and highest number of positive outcomes.

Planning is concerned with setting objectives, targets, and formulating plan to accomplish them. The activity helps managers analyse the   present condition to identify the ways of attaining the desired position in future . It is both, the need of the organisation and the responsibility of managers.

Importance of Planning

• It helps managers to improve future performance , by establishing objectives and selecting a course of action, for the benefit of the organisation.
• It minimises risk and uncertainty , by looking ahead into the future.
• It facilitates the coordination of activities . Thus, reduces overlapping among activities and eliminates unproductive work.
• It states in advance, what should be done in future, so it provides direction for action.
• It uncovers and identifies future opportunities and threats .
• It sets out standards for controlling . It compares actual performance with the standard performance and efforts are made to correct the same.

Planning is present in all types of organisations, households, sectors, economies, etc. We need to plan because the future is highly uncertain and no one can predict the future with 100% accuracy, as the conditions can change anytime. Hence, planning is the basic requirement of any organization for the survival, growth and success.

Steps involved in Planning

By planning process, an organisation not only gets the insights of the future, but it also helps the organisation to shape its future. Effective planning involves simplicity of the plan, i.e. the plan should be clearly stated and easy to understand  because if the plan is too much complicated it will create chaos among the members of the organisation. Further, the plan should fulfil all the requirements of the organisation .

Related terms:

• Strategic Planning
• Human Resource Planning Process
• Controlling
• Succession Planning
• Gap Analysis

Reader Interactions

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Planning in Management: Definitions, Importance, Characteristics, Process

• Post last modified: 10 August 2023
• Reading time: 35 mins read
• Post category: Management

What is Planning?

Planning is the primary function of management that involves formulating a future course of action for accomplishing a specific purpose. Planning enables managers to decide what task to do, how to do the task, when to do the task and by whom the task has to be done.

Table of Content

• 1 What is Planning?
• 2 Definitions of Planning
• 3.1 Forms Goals
• 3.2 Remains as a Continuous Process
• 3.3 Gives Direction
• 3.4 Tackles Uncertainty
• 3.5 Minimises Duplication and Wasteful Activities
• 3.6 Supports and Promotes Innovative Ideas
• 3.7 Facilitates Decision Making
• 3.8 Sets Standards for Controlling Function
• 3.9 Facilitates Coordination
• 4.1 Continuous Process
• 4.2 Intellectual Process
• 4.3 Futuristic Approach
• 4.4 Flexible process
• 4.5 Primary Function of Management
• 4.6 Assists Decision Making
• 4.7 Goal-oriented Approach
• 4.8 Pervasive
• 5.1 Setting Organisational Objectives
• 5.2 Examining Business Environment
• 5.3 Assessing Available Alternatives and Selecting the Most Appropriate Alternative
• 5.4 Formulating secondary plans
• 5.5 Ensuring cooperation and participation
• 5.6 Following up
• 6.1 Time-consuming
• 6.2 Expensive
• 6.3 Gap Between Targets and Results
• 6.4 Resistance Towards Change
• 6.5 Paperwork
• 6.6 Reason of Frustration
• 6.7 Problem of Over-target
• 7.1 Strategic plans
• 7.2 Tactical plans
• 7.3 Operational plans
• 7.4 Contingency plans
• 8.1 What is Planning?
• 8.2 What are the Features of Planning?
• 8.3 What is the Process of Planning?
• 8.4 What is the Importance of Planning in Management?
• 9 Management Topics

To be more precise planning lays a foundation for establishing a mission statement, defining organisational goals and determining resources needed to achieve organisational goals. On the other hand, in a narrow sense, planning is the tactic to complete a specific task.

Definitions of Planning

By going through the definitions of planning we will be able to understand its concept therefore some definitions are as follows:

Planning is the continuous process of making present entrepreneurial decisions systematically and with best possible knowledge their futurity, organising systematically the ef- forts needed to carry out these decisions and measuring the results of these decisions against the expectation through organised systematic feedback. Peter Drucker

Planning is deciding in advance what to do, how to do and who is to do it. Planning bridges the gap between where we are, where we want to go. It makes possible things to occur, which would not otherwise occur. Koontz and O’Donnell

Importance of Planning in Management

The importance of planning in management is explained in the following points:

Forms Goals

Remains as a continuous process, gives direction, tackles uncertainty, minimises duplication and wasteful activities, supports and promotes innovative ideas, facilitates decision making, sets standards for controlling function, facilitates coordination.

Planning is a goal-oriented process that helps in determining what each individual in an organisation has to achieve at the end and executing work accordingly. In addition, the planning function enhances the efficiency of other managerial functions.

Planning in any organisation is a never-ending function. This is because every organisation operates in a dynamic business environment which is subject to frequent changes. As new changes become known, revisions and amendments are made to plans.

Planning channelises the efforts of people in an organisation in the best possible manner to attain the desired results. For example, during the planning process, plans are laid for each department of the organisation, which helps people at all levels to know exactly what work they have to perform so that organisational goals can be achieved without any hindrances.

Planning is helpful in making predictions with the available amount of information. This helps organisations/businesses tackle an uncertain future. Planning assists in finding a better way to achieve goals by anticipating a future risk or chances of occurrence of future risks.

As mentioned earlier, planning helps individuals at all levels to know what they exactly need to do. This helps in preventing the duplication of work, authority, responsibility, etc. As a result, wastage of resources and efforts is minimised.

Nowadays, organisations operate in an environment of cut-throat competition. Customers always demand something new or unique. If an organisation fails to fulfil customers’ demands, customers can easily switch to competitors.

Planning enables managers to think out of the box, generate new ideas and provide something unique to customers with less cost and more efficiency, thereby satisfying customers.

Planning as a guide plays an important role in making efficient and accurate decisions. For instance, the production department of an organisation needs to choose between two vendors who supply raw materials at the same cost and of the same quality level.

However, the two vendors differ in delivery time. In this case, the decision of choosing the vendor will be made as per the planned number of days.

Planning and controlling are inter-related functions of management. Planning sets goals for the organisation and controlling ensures their accomplishment within the decided time period. In addition, controlling direct the course of planning by highlighting the areas where planning is required.

The planning function helps management in aligning department-wise activities of the organisation. The plans made by one department are understood and supported by another department.

Overall planning that is done by top management facilitates departments to coordinate and plan accordingly to achieve organisational goals.

Characteristics of Planning

The characteristics of the planning function are explained as follows:

Continuous Process

Intellectual process, futuristic approach, flexible process, primary function of management, assists decision making, goal-oriented approach.

Planning is done for a specific period of time and plans are reformed at the end of that specific period as per the new requirements and changing conditions. Planning goes on, till the existence of an organisation, as issues and problems keep cropping up, and plans are needed to tackle the problems effectively.

Planning requires creative thinking to visualise the future situation and frame plans accordingly. It is the outcome of managers’ thinking process based on their experience and knowledge.

Planning is conducted to achieve future organisational goals while efficiently utilising organisational re- sources. This is done by predicting future situations and making forecasts.

Planning involves a flexible approach. Since the future is uncertain and unpredictable, changes in the business environment take place in the form of competition, government policies, customer demand, etc. Thus, there is always room for flexibility in planning to incorporate future changes.

Planning is done prior to all other functions of management, i.e., organising, staffing, directing, controlling, coordinating, reporting and budgeting. It is the first, foremost and base managerial function of any organisation. The effectiveness of a management’s plan determines the competence of the management’s activity for the planned time period.

Planning comprises decision making because it is an activity of making choices from the available alternatives for performing tasks. Hence, planning comprehends decision making as its indispensable part.

Planning emphasises defining the aims, objectives and goals of the organisation. It also involves the identification of alternative courses of action to decide on a suitable action plan, which should be undertaken for the attainment of goals.

Planning is regarded as pervasive because it is present in all the segments of an organisation. It is required at all levels of management. The scope of planning differs at different levels of management and departments.

Process of Planning

The process of planning involves a number of steps in chronological order which are given below:

Setting Organisational Objectives

Examining business environment, assessing available alternatives and selecting the most appropriate alternative, formulating secondary plans, ensuring cooperation and participation, following up.

The planning process begins with the first step of establishing organisational objectives. It involves identifying organisational goals to be achieved by examining internal and external business conditions. For this, the answers to be given for the following questions:

• What is to be achieved?
• What actions are to be taken?
• Who is to perform it?
• How is it to be undertaken?
• What should be the time frame?

The next step in the planning process is to examine internal and external factors that influence the business environment.

The internal factors include strengths and weaknesses (for example, the efficiency of available resources) of the organisation, while external factors involve threats and opportunities (for example, overall economic and industrial environment and competitive position of the organisation).

The next step in the planning process is to evaluate all available alternatives and then select the best alternative. Generally, an alternative is evaluated against risks associated, costs involved, upcoming benefits, etc.

The successful accomplishment of organisational objectives is confirmed by formulating secondary or alternative plans. These plans are derived for various activities, units, departments, etc., and indicate a sequence in which various tasks are to be performed and the time schedule for per- forming those tasks.

In this step, employees at middle and lower levels of management are encouraged to participate in the successful accomplishment of organisational goals. Suggestions were given by operating personnel to help the management rectify shortcomings in plans and set things right at the start of the planning process and at the time of its implementation.

The last step in the planning process is to provide the scope of follow-up for determining the value of plans made and implemented. This step involves a continuous review of plans for ensuring their relevance and effectiveness.

Reviewing plans on a continuous basis helps the organisation develop sound plans for the future and avoid mistakes that took place while implementing the previous plans.

Limitations of Planning

In spite of several advantages, the planning function also has certain limitations. We have here listed the key limitations of planning :

Time-consuming

Gap between targets and results, resistance towards change, reason of frustration, problem of over-target.

Planning turns out to be a time-consuming activity as it requires data collection, data analysis, forecasting, etc., for selecting the best future course of action.

Planning requires expertise and the collection of authentic data, which incurs a lot of costs for the organisation. For instance, companies like IBM need to do a lot of planning prior to starting any new venture. For this, such companies also spend a lot on research and pay highly to experts to get their advice.

Planning is done by top-level management and implemented by middle and lower-level management. This creates a gap between the plan set and actual results achieved as different employees may have different perceptions of accomplishing plans.

Planning often requires changes due to the dynamic business environment. However, as a natural human tendency, employees are always reluctant to accept changes and may not provide their full cooperation.

Planning involves paperwork as plans cannot be finalised in one go. The plans are reworked again and again and after getting a final plan, subordinates give the copies of the plan to the top-level management in the form of a report or a proposal to get the plans finalised for implementation.

Sometimes, planned targets are not achieved by managers and employees irrespective of their best efforts. Such failures frustrate them and cause a low level of motivation in them.

Planning sometimes makes the top-level management fix targets that are unachievable and causes problems of over-expectation from employees.

Types of Plans

Plans bind individuals, resources, departments and organisations to achieve specific goals in the future. Plans help design organisational goals effectively which fits into the hierarchy from top to lower level of management. In an organisation, there are different types of plans made.

Some important types of plans are explained as follows:

Strategic plans

Tactical plans, operational plans, contingency plans.

Strategic plans are a framework for an organisation. These plans contain the mission of an organisation and outline goals to be achieved. Strategic plans aim to turn the vision of an organisation into reality. Thus, strategic plans are long-term and forward-looking in nature and accommodate future growth and expansion of an organisation. These plans are generally developed by top management and are implemented by middle and lower management.

For instance, Varun works as a top-level manager for Dino’s PizzaSizz. As a top-level manager, he has to make use of strategic planning to ensure that the long-term goals of the organisation are attained. Varun in consultation with other top-level managers developed strategic plans for achieving growth, increasing productivity and profitability and boosting return on investments, as all these are parts of the desired future of the pizzeria.

Varun and other top-level managers developed organisational objectives through strategic plans so that middle- and lower-level managers can create compatible plans aligned with those objectives. Varun also involved other level personnels because strategic plans require multilevel involvement.

Tactical plans are developed by middle-level management for a span of generally less than three years. These plans contain instructions for lower-level management on what should be done, how should be done and by whom should be done. In addition, tactical plans define tactics which managers adopt for achieving objectives mentioned in the strategic plan. Tactical plans also provide information on resources to be employed and work distribution among the sublevels within each department.

For instance, when Mira, the middle-level manager at Dino’s PizzaSizz, learns about Varun’s strategic plan for improving productivity, Mira im- mediately began to think about possible tactical plans. Tactical planning for Mira included things like testing a new process in making pizzas in a shorter amount of time or perhaps looking into purchasing a better oven that can speed up cooking pizza or even exploring ways to better map out the delivery routes and drivers.

As a tactical planner, Mira required to form a set of calculated actions that takes a shorter amount of time and is narrower in scope than the strategic plan but still help to bring the organisation closer to its long-term goal.

An operational plan is developed by the supervisors, team leaders and facilitators for supporting tactical plans. It governs the day-to-day operations of an organisation/business. Operational plans can be of two types, namely single use plans (for example, budget) and ongoing plans.

For instance, Ravi, the frontline manager at Dino’s PizzaSizz, has the responsibility of operational planning. Scheduling employees each week, creating a monthly budget, developing a promotional advertisement for the quarter to increase the sales of a certain product or outlining an employee’s performance goals for the year and doing an assessment, ordering and stocking inventory are the operation plans Ravi need to make and get executed.

A continuing or ongoing plan is the one which is made once and its value is retained over a period of years. The plan undergoes periodic revisions and updates. Following are examples of on-going plans:

• Policy : A policy is a broad guideline followed by managers to deal with the important aspects and areas of decision making. Policies are referred to as those general statements which explain how managers should handle their routine management responsibilities. For example, a typical human resources policy of an organisation addresses the matters related to the hiring of employees, terminations of non-performing employees, performance appraisals as an important culture, pay increases and discipline of employees.
• Procedure : A procedure is a standard set of directions that provides stepwise instructions of carrying out activities or tasks for achieving and attaining the organisational objectives. For example, typically, organisations have procedures/processes to purchase supplies and equipment. The procedure of purchasing supplies and equipment generally starts with a supervisor who completes the purchase requisition. After that, the requisition is then sent for approval to the next level of management. As the requisition gets approved, it is forwarded to the purchasing department. The amount of the purchase requisition is considered by the purchasing department either to place an order or to secure quotations bids from several vendors before placing the order.
• Rule : A rule is a statement that explicitly guides employees for what they can and cannot do. Rules promote the safety of employees by placing the ‘do’ and ‘don’t’ statements. It also directs for the uniform treatment and the behaviour of employees in an organisation/business. For example, the rules of absenteeism and unpunctuality allow supervisors to make discipline related to fair decisions quickly.

A successful organisation depends upon the fact that how intelligently, flexibly and constantly its management chases, adapts and masters the changing conditions. A strong management entails to ‘keep all options open’ approach at all times. This is where contingency planning comes into the organisation.

In contingency planning, an alternate plan is identified, analysed and implemented so that in case the original plan proves insufficient, the backup is ready to be used. The factors which are beyond managers’ control are kept in mind and the alternative future scenarios are prepared carefully.

When unanticipated problems and events occur, managers may need to change their plans. It is best to anticipate the changes during the planning process as things don’t always go as expected. Management should develop alternatives to the existing plan and keep them ready for use when unexpected circumstances occur.

Planning is the primary function of management that involves formulating a future course of action for accomplishing a specific purpose.

What are the Features of Planning?

The Features of the planning function are as follows: 1. Planning is a Continuous Process 2. Planning is Intellectual Process 3. Planning is a Futuristic Approach 4. Planning is a Flexible process 5. Planning is the Primary Function of Management 6. Planning Assists in Decision Making 7. Planning is Goal-oriented Approach 8. Planning is Pervasive

What is the Process of Planning?

The process of planning involves a number of steps in chronological order which are given below: 1. Setting Organisational Objectives 2. Examining the Business Environment 3. Assessing Available Alternatives and Selecting the Most Appropriate Alternative 4. Formulating secondary plans 5. Ensuring cooperation and participation 6. Following up

What is the Importance of Planning in Management?

The importance of planning in management is explained in the following points: 1. Planning Forms Goals in Management 2. Planning Gives Directions in Management towards Achieving Organisational Goals 3. Planning Tackles Uncertainties of future 4. Planning assists in finding a better way to achieve goals 5. Planning Minimises Duplication and Wasteful Activities 6. Planning Supports and Promotes Innovative Ideas in Management 7. Planning Facilitates Decision Making 8. Planning Sets Standards for Controlling Function 9. Planning helps management to Build Coordination

Management Topics

• What is Management ?
• Who Is a Manager ?
• Marketing CIs Management an Art or Science

Classical Management Approach

• Planning in Management
• Decision Making in Management
• Organising in Management
• What is Organisation Structure ?
• What is Departmentation ?
• What is Span of Control ?
• What is Authority ?
• What is Staffing ?
• What is Human Resource Planning ?
• What is Job Analysis ?
• What is Recruitment ?

Modern and Others Schools of Management Thought

• What is Selection ?
• What is Coordination ?
• What is Controlling ?
• What is Leadership ?
• What is Organisational Change ?
• Motivation in Management
• Motivation Theories
• Maslow’s Hierarchy of Needs
• Herzberg Two Factor Theory
• Mcclelland’s Needs Theory of Motivation

Business Ethics

( Click on Topic to Read )

• What is Ethics?
• What is Business Ethics?
• Values, Norms, Beliefs and Standards in Business Ethics
• Indian Ethos in Management
• Ethical Issues in Marketing
• Ethical Issues in HRM
• Ethical Issues in IT
• Ethical Issues in Production and Operations Management
• Ethical Issues in Finance and Accounting
• What is Corporate Governance?
• What is Ownership Concentration?
• What is Ownership Composition?
• Types of Companies in India
• Internal Corporate Governance
• External Corporate Governance
• Corporate Governance in India
• What is Enterprise Risk Management (ERM)?
• What is Assessment of Risk?
• What is Risk Register?
• Risk Management Committee

Corporate social responsibility (CSR)

• Theories of CSR
• Arguments Against CSR
• Business Case for CSR
• Importance of CSR in India
• Drivers of Corporate Social Responsibility
• Developing a CSR Strategy
• Implement CSR Commitments
• CSR Marketplace
• CSR at Workplace
• Environmental CSR
• CSR with Communities and in Supply Chain
• Community Interventions
• CSR Monitoring
• CSR Reporting
• Voluntary Codes in CSR
• What is Corporate Ethics?

Lean Six Sigma

• What is Six Sigma?
• What is Lean Six Sigma?
• Value and Waste in Lean Six Sigma
• Six Sigma Team
• MAIC Six Sigma
• Six Sigma in Supply Chains
• What is Binomial, Poisson, Normal Distribution?
• What is Sigma Level?
• What is DMAIC in Six Sigma?
• What is DMADV in Six Sigma?
• Six Sigma Project Charter
• Project Decomposition in Six Sigma
• Critical to Quality (CTQ) Six Sigma
• Process Mapping Six Sigma
• Flowchart and SIPOC
• Gage Repeatability and Reproducibility
• Statistical Diagram
• Lean Techniques for Optimisation Flow
• Failure Modes and Effects Analysis (FMEA)
• What is Process Audits?
• Six Sigma Implementation at Ford
• IBM Uses Six Sigma to Drive Behaviour Change
• Research Methodology
• What is Research?
• What is Hypothesis?
• Sampling Method
• Research Methods
• Data Collection in Research
• Methods of Collecting Data
• Application of Business Research
• Levels of Measurement
• What is Sampling?
• Hypothesis Testing
• Research Report
• What is Management?
• What is Controlling?
• What is Coordination?
• What is Staffing?
• Organization Structure
• What is Departmentation?
• Span of Control
• What is Authority?
• Centralization vs Decentralization
• Organizing in Management
• Schools of Management Thought
• Is Management an Art or Science?
• Who is a Manager?

Operations Research

• What is Operations Research?
• Operation Research Models
• Linear Programming
• Linear Programming Graphic Solution
• Linear Programming Simplex Method
• Linear Programming Artificial Variable Technique
• Duality in Linear Programming
• Transportation Problem Initial Basic Feasible Solution
• Transportation Problem Finding Optimal Solution
• Project Network Analysis with Critical Path Method
• Project Network Analysis Methods
• Project Evaluation and Review Technique (PERT)
• Simulation in Operation Research
• Replacement Models in Operation Research

Operation Management

• What is Strategy?
• What is Operations Strategy?
• Operations Competitive Dimensions
• Operations Strategy Formulation Process
• What is Strategic Fit?
• Strategic Design Process
• Focused Operations Strategy
• Corporate Level Strategy
• Expansion Strategies
• Stability Strategies
• Retrenchment Strategies
• Competitive Advantage
• Strategic Choice and Strategic Alternatives
• What is Production Process?
• What is Process Technology?
• What is Process Improvement?
• Strategic Capacity Management
• Production and Logistics Strategy
• Taxonomy of Supply Chain Strategies
• Factors Considered in Supply Chain Planning
• Operational and Strategic Issues in Global Logistics
• Logistics Outsourcing Strategy
• What is Supply Chain Mapping?
• Supply Chain Process Restructuring
• Points of Differentiation
• Re-engineering Improvement in SCM
• What is Supply Chain Drivers?
• Supply Chain Operations Reference (SCOR) Model
• Customer Service and Cost Trade Off
• Internal and External Performance Measures
• Linking Supply Chain and Business Performance
• Netflix’s Niche Focused Strategy
• Disney and Pixar Merger
• Process Planning at Mcdonald’s

Service Operations Management

• What is Service?
• What is Service Operations Management?
• What is Service Design?
• Service Design Process
• Service Delivery
• What is Service Quality?
• Gap Model of Service Quality
• Juran Trilogy
• Service Performance Measurement
• Service Decoupling
• IT Service Operation
• Service Operations Management in Different Sector

Procurement Management

• What is Procurement Management?
• Procurement Negotiation
• Types of Requisition
• RFX in Procurement
• What is Purchasing Cycle?
• Vendor Managed Inventory
• Internal Conflict During Purchasing Operation
• Spend Analysis in Procurement
• Sourcing in Procurement
• Supplier Evaluation and Selection in Procurement
• Blacklisting of Suppliers in Procurement
• Total Cost of Ownership in Procurement
• Incoterms in Procurement
• Documents Used in International Procurement
• Transportation and Logistics Strategy
• What is Capital Equipment?
• Procurement Process of Capital Equipment
• Acquisition of Technology in Procurement
• What is E-Procurement?
• E-marketplace and Online Catalogues
• Fixed Price and Cost Reimbursement Contracts
• Contract Cancellation in Procurement
• Ethics in Procurement
• Legal Aspects of Procurement
• Global Sourcing in Procurement
• Intermediaries and Countertrade in Procurement

Strategic Management

• What is Strategic Management?
• What is Value Chain Analysis?
• Mission Statement
• Business Level Strategy
• What is SWOT Analysis?
• What is Competitive Advantage?
• What is Vision?
• What is Ansoff Matrix?
• Prahalad and Gary Hammel
• Strategic Management In Global Environment
• Competitor Analysis Framework
• Competitive Rivalry Analysis
• Competitive Dynamics
• What is Competitive Rivalry?
• Five Competitive Forces That Shape Strategy
• What is PESTLE Analysis?
• Fragmentation and Consolidation Of Industries
• What is Technology Life Cycle?
• What is Diversification Strategy?
• What is Corporate Restructuring Strategy?
• Resources and Capabilities of Organization
• Role of Leaders In Functional-Level Strategic Management
• Functional Structure In Functional Level Strategy Formulation
• Information And Control System
• What is Strategy Gap Analysis?
• Issues In Strategy Implementation
• Matrix Organizational Structure
• What is Strategic Management Process?

Supply Chain

• What is Supply Chain Management?
• Supply Chain Planning and Measuring Strategy Performance
• What is Warehousing?
• What is Packaging?
• What is Inventory Management?
• What is Material Handling?
• What is Order Picking?
• Receiving and Dispatch, Processes
• What is Warehouse Design?
• What is Warehousing Costs?

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What Is Enterprise Resource Planning (ERP)?

Enterprise resource planning (ERP) is software developed to manage and optimize business operations and processes. Learn all about ERP, its benefits, and whether it’s right for your business.

Enterprise resource planning (ERP) software helps businesses manage day-to-day operations such as inventory management or accounting. ERP can benefit your organization by acting as a centralized database that cross-functional teams can access for their specific needs.

Popular examples of ERP include Systems Analysis and Program Development (more commonly known as SAP), Oracle ERP, Statii, Sage Intact, Odoo, and Microsoft Dynamics 365.

While big companies have long used ERP to manage their processes, many small businesses also adopt ERP to boost efficiency and sustainable growth. In this article, you'll learn more about what ERP is exactly, its benefits, how it works, and what industries use it today.

What is ERP?

ERP software, tools, and technology are used to manage daily business operations and automate accounting, supply chain management, manufacturing, project management, and more processes. ERP systems have different modules that perform these functions.

ERP streamlines and integrates all of a company’s data into one database system to save and access data in one place. These software systems automate tedious, time-consuming tasks to save companies time and money.

For a more in-depth look at enterprise resource planning, watch this video:

Origins of ERP

As early as the 1960s, businesses started using computers for their accounting and finance solutions [ 1 ]. When the manufacturing industry started booming in the 1980s, new software was invented to integrate all of these processes in one place. In the 1990s, ERP was introduced, combining accounting, finance, sales, manufacturing, inventory, human resources, and project management.

Cloud ERP software emerged in the early 2000s, and today, machine learning and other supplemental technologies are helping companies run even more efficiently to measure up against the competition.

ERP system examples

Businesses use these systems to centralize data and leverage the data analytics inherent within them to equip their teams with actionable insights. For example, a business might use an ERP system like Microsoft Dynamics 365 for customer relationship management by centralizing customer lead data for both the sales and marketing departments. Using the implemented ERP, consequently, the team will be able to close sales faster, employ targeted digital marketing efforts, and reduce costly inefficiencies. 

Benefits of ERP

Overall, enterprise resource planning helps organizations save time and money. Here are some main advantages of ERP:

Save time and money: ERP software tools help businesses plan, forecast, and operate faster, allowing them to expand and gain profitability.

Automate processes: Automating an organization’s processes eliminates redundant and inefficient workflows. This improves productivity and creates space for growth and innovation.

Centralized system: With management systems (modules) for all departments in one place, teams can easily access data across the organization. Reporting is streamlined and accessible to all.

Secure, accurate data: Not only is data secure on the database system and much more accurate than if it was input manually, but it is also available in real-time. Data, such as procurement or sales, can be tracked and monitored. Reports can be generated immediately, which is helpful for planning, forecasting, budgeting, and communicating insights to shareholders and teams.

Cloud-based accessibility: Most ERP systems are now cloud-based, or at least can be accessed on a cloud, so teams can access them anytime, anywhere.

Collaboration and knowledge sharing: ERP helps integrate all teams, which enables collaboration and sharing of knowledge across the organization. Companies can grant organization-wide access, and this visibility contributes to workplace cohesion and harmony.

How does an enterprise resource planning system work?

If companies need to use several different systems to automate their workflow and production, then employees need to learn (and toggle between) multiple software tools just to complete a simple task. 

ERP provides a central database system that streamlines all that data and planning in one place. Modules might include:

Supply chain management

Inventory management

Project management

Human resources

Warehouse management

Finance and accounting

Risk management

Sales orders and planning

Business intelligence

Data analytics

Research and development

Types of ERP

Three types of ERP are available for businesses to use: on-site systems, cloud-based systems, and hybrid systems. Each type of ERP has its own advantages and disadvantages and is best suited to different use cases. At a glance, here’s what you need to know about each one:

On-site ERP

The most traditional ERP systems are those housed on-site at a business’s physical data center. For an ERP housed at a business’s premises, the business must maintain and implement the system itself rather than relying on online solutions. ERP of this kind are some of the earliest systems, and they rose to prominence in the 1990s when the internet was just beginning to develop.

Cloud-based ERP

Today, many ERP systems are housed online in “the cloud” rather than directly within a business’ physical data center. The benefits of cloud-based ERPs are that they can centralize all of a business’ relevant data online and make it available to employees worldwide. Service providers also routinely update systems and are often equipped with artificial intelligence and advanced analytics capabilities, such as predictive modeling. 

Hybrid ERP 

Hybrid ERPs pair on-site ERP systems with cloud-based ones. Businesses that have invested significantly in their on-site system or house sensitive data on-site may pair such systems with those in the cloud to maintain the benefits of updated cloud systems without sacrificing what they already have in place.

Types of industries

ERP software can benefit most industries because a majority of organizations require the use of systems to help manage their operations. The following are examples of industries that have many moving parts and significantly benefit from ERP:

Manufacturing 

Health care

E-commerce businesses

Construction

Transport and logistics

Food and beverage

Hospitality

Telecommunications

Media and entertainment

Non-profit organizations

Careers that use ERP

Several career paths utilize ERP software as part of their role. Here’s a look at four of them.

Data architect: A data architect often implements data and information architecture in an ERP. These individuals are adept at systems engineering and architecture and applying these to data strategy operations. A cloud architect is similar but uses cloud-based ERP systems.

Business analyst: A business analyst is responsible for solving internal problems, so they will implement strategies to improve business operations, including using ERP systems and tools. If a company already uses ERP, an ERP operations analyst may be hired to advise staff on developing new workflows to optimize operational capacity. 

Database administrator: A database administrator focused on ERP will help a particular team with technical support and maintenance for their ERP system. This role might focus on the ERP system as a whole or a specific module supporting the procurement team, for example. Using SQL, the database administrator might optimize the system's procedures, objects, and functions.

Project manager/ERP Manager: A project manager (or technical project manager) who focuses on ERP helps teams or organizations manage implementing or enhancing ERP systems. They understand deeply the various applications of ERP software and help coach employees toward their goals by boosting productivity and organization. 

Learn ERP with Coursera

Are you ready to dive into enterprise resource planning? Learn about tools and software that can help you land a fulfilling career in cloud-based operations and strategy.

The highly-rated Information​ ​Systems Specialization from the University of Minnesota on Coursera offers the opportunity to learn the frameworks needed to implement and integrate ERP into business strategy. You’ll be able to evaluate whether ERP is needed and how to develop the appropriate IT infrastructure that will allow the ERP (and business) to thrive.

Article sources

SAP. “ What is ERP? , https://www.sap.com/insights/what-is-erp.html.” Accessed April 17, 2024.

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