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6 Aug 2018

1. How is the financial plan and budget related to a company’s strategic plan?

2. How do the various functional departments of an organization use financial planning (i.e. marketing, operations, sales, executive management, finance, etc.)?

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Patrina Schowalter
Patrina SchowalterLv2
6 Aug 2018

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Related questions

What are the essential elements of the strategic plan and what is its importance to the organization?

Identify the responsibilities of middle managers in developing comprehensive management documents, including the strategic plan, annual report, executive summary of the annual report, and a project proposal?

Relate the dynamics of the budget approval process to the development of the budget?

*** THE FOLLOWING FORMAT MUST BE STRICTLY ADHERED TO OR NO REWARDS POINTS ***


Executive Summary (5%)

Company Direction (5%) -

  • Present Situation
  • Vision and Mission
  • Strategic Goals and Objectives


Company Overview (5%)

  • Legal Business Description
  • Management Team
  • Board of Directors (if you have a board of directors)
  • Strategic Alliances


Product or Service Strategy (20%)

  • Current Products (or Services)
  • Days and Hours of Operation
  • Research and Development
  • Production and Delivery


Market Analysis (20%)

  • Market Definition
  • Customer Profile
  • Competition
  • Risks


Marketing Plan (10%)

  • Sales Strategy
  • Pricing Strategy
  • Distribution Channels
  • Advertising and Promotion
  • Publicity


Financial Plan written narrative and financial statements (30%)

  • Assumptions
  • Summary of Financial Statements
  • Capital Requirements
  • Exit/Payback Strategy

Conclusion (5%)

Supporting Documents (part of Financial Plan)

  • Income Statement (2 years)
  • Cash Flow Statement (2 years)
  • Balance Sheet (2 years)

Workshop Three - 3.4 Integrated Strategic and Financial Planning

This assignment will involve 'Concept Three: Integrated Strategic and Financial Planning' of Best Practice Financial Management.

Concept Three describes the leadership required for effectively integrated planning, the integrated planning process, and the components of a high-quality plan. It presents the organizing principle that should be used throughout the process and takes readers through key process steps. Steps include identifying and selecting strategic initiatives based on solid market data and consideration of risk, estimating capital requirements through a multiyear financial plan that links strategies to capital requirements, determining capital sources, and determining the level of profitability required to close the capital shortfall. It also describes the techniques leaders can use to test the reasonableness of their goals and projections and enhance the effective implementation of the integrated plan. A case study example at the end of the chapter describes one organization's implementation of the best practice planning process

Write a 2-4 page paper discussing the issues and outcomes of Community Hospital Healthcare System (CHHS), giving a brief overview of its initial plans and how those plans were altered after careful evaluation of the facility’s finances. The paper should discuss the various approaches the organization used to develop new goals and reasons for altering its original plans.

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