Strategic Importance of Business Plans in Today’s Technological Driven Marketplace
Business Plans Are More Essential than Ever
As the pace of competition has accelerated, product life cycles have shrunk.
It used to take 8 to 10 years to design and build a car.
Now it can be in less than a year and half.
Windows of opportunity open and close with blinding speed; and customers, who are constantly being wooed by the competition, are more demanding than ever.
Some people will advise you that it is impossible to plan for the future and thus business plans are irrelevant and a waste of time.
In fact, in this era the exact opposite is true. It is now more important than ever before to have a battle plan during what might, in retrospect, be viewed as “peacetime..
Planning and preparation are required for your financial as well as your company’s survival. No one is saying, “The world is more uncertain for you now, so plans are no longer relevant.” The truth is that planning and that planning skills are now most important and more vital than ever. In this regard, businesses are no different from...
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