106 Write the Annual Plan
Congratulations! It is time to make things happen. The annual plan or budget is one of the basic vehicles through which strategies are executed. Every firm should produce an annual plan for the next calendar or fiscal year that documents the required resources in extreme detail, as well as the cost of implementing the new strategic initiatives.
The annual plan includes strategic, operating, and financial expectations for the coming year and is concerned with the coordination and control of internal flows of resources. It is the next step in refining the strategic plan and the business plan. The elements of an annual plan are:
The action plans for the initiatives intended to achieve strategic goals
A marketing/sales ...
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