Corporate Planing & Structure
Corporate planning is considered to be a strategic tool to set the long term goals and to meet objectives for the business growth and productivity. These are thus strategic plans which help in streamlining the operations and achieve the goals. It is a systematic process of determining the goals to be achieved in the future course of action. The management fundamental planning about future economy, technology and competition are the main focus of the corporate planning.
The corporate structure is referred to be the hierarchy of the organization which implicates the working of the corporates in the organizational structure. Thus corporate planning and structure focusses on formulating, monitoring, implementing the operational plans to achieve objectives.
Why is corporate planning and structure important for organization?
Thus, corporate planning and structure helps small businesses to pursue the future strategies and ways to implement it.
For forecasting financial results, projected revenues, expenses and profits of the company, strategic planning etc. are needed. The owner of the company prepares corporate plans and structure for long-range capital plan, and various other functions of the organization that needs to be undertaken.