We all know we should have a business plan to guide our business along the route which we want to take and which will deliver the returns that we /the owners need over the medium term – at least 3 years.
Obviously Royal Bank of Scotland’s Chief Executive Stephen Hester forgot to take account of market forces and undertake a robust S.W.O.T analysis before finalising his Business strategy as he is having to re think his Business plan for RBS only 8mths after it was formulated!
– But then this has been one of the problems which helped cause the Banking crisis – short term thinking and quick gains rather than looking at the longer term with prudent planning.
This article from the Guardian Newspaper says it all.
What do you think as a small business, especially if you are trying to raise finance for business development? Comments please.
Contact me at Janette whitney & Associates, Business Consultants for professional impartial advice & solutions.
Filed under: Business Planning & strategy | Tagged: Business advice, business development, Business Growth, Business planning, finance, small business | 4 Comments »
