This article will define Strategic Planning and provide a demonstrative rationale to make it a major focus for all organisations. Additionally, this article will clearly outline the steps an organisation can take to develop a strategic plan and make it the basis for all planning.

​The long-standing narrative of Enterprise Performance Management (EPM/CPM) has been squarely focused on the effort to steer organisations away from spreadsheets by embracing Enterprise Performance Management suites (i.e. platforms).

The link to strategic planning becomes evident when FP&A is placed within this bigger picture. By translating the strategic intent of the company into business drivers made visible through the ‘use-of-funds’, the execution of the strategy becomes fact-based, transparent and verifiable: ‘talks & figures’. Just think about it, and add value to your role and company. 

The findings from this research provide insights in explaining the Strategy-Execution Gap and, more importantly, how to close the gap using modern FP&A techniques, processes, and technology.

Watch this video from Anand Lakshminarayanan, Senior Vice President Revenue Management & Airline Partnerships of Emirates Airlines on how we can reset our revenue planning to make it agile enough to adapt to new trends.

It is very important to have well-established mechanisms for planning and budget control. So, managers can quickly correct the unit's tactical plan based on present market conditions, and faster it rolls up into the corporate's strategic plan.