strategic planning

Tag: strategic planning

The Butterfly Effect: Planning with External Analysis

Every decision you make as a financial leader affects your business. Looking back on 2016 to now, a lot of events happened and changed the course of business. Often, there are events occurring in the world that either directly or indirectly impact your company. As a financial leader, it’s up to you to decide how to

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Strategic Planning Process

See Also: Product Pricing Strategies Marketing Mix (4 P’s of Marketing) Business Plan How to write an Action Plan Value Chain Strategic Planning Process Definition The strategic planning process involves finding long-term goals, and running through the different steps of the process to achieve those goals. Strategy planning involves finding where the company excels as

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Percent-of-Sales Method

See Also: ProForma Financial Statements Cost Center Weighted Average Cost of Capital (WACC) Standard Costing System Activity Based Costing vs Traditional Costing Percent-of-Sales Method The percent-of-sales method is a technique for forecasting financial data. When forecasting financial data for strategic planning, budgeting, or for developing pro forma financial statements, analysts can use the percent-of-sales method

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Malcolm Baldrige National Quality Award

See Also: Total Quality Management Theory of Constraints Activity Based Management Capital Structure Management Retainage Management Collection Malcolm Baldrige National Quality Award The Malcolm Baldrige National Quality Award is an award for excellence in quality improvement and quality management. It sets very high standards for quality. Furthermore, firms that win the award have demonstrated excellence

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Capital Budgeting Phases

See Also: Capital Budgeting Methods Capital Budgeting Phases The phases of the capital budgeting process include the following: Description of the need or opportunity Identification of alternatives Evaluation of the options and the relevant cash flows of each Selection of best alternative Conducting a post-completion audit of the projects. Examples To identify capital projects, refer

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Banks Tighten Credit Standards

An article in todays’ Wall Street Journal highlights how banks tighten credit standards across the country’s banking community. The author cites interviews with bankers indicating a change in the amount of risk that lenders are willing to take. Later in the article the author cites sources that say they haven’t seen a credit crunch. So

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