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Becton Dickinson

12 Pages

Financial Accounting
Course Code
Prof.Jan Klakurka

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Becton Dickinson Designing the New Strategic,
Operational, and Financial Planning Process
Date: March 31, 2011
Name: Veronica Wang
Student #: 996095318
Page | 2
Companies today must constantly adapt to the global economy if they want to
remain competitive. Strategies that worked in the past may have to be revised
constantly to adjust to the new visions and goals of the ever changing company.
For Becton Dickinson, their business is constantly evolving, and hence the
strategic, operational, and financial (SOF) process must also change over time. Of
course, the SOF process should not be altered fully, but only the disadvantages and
drawbacks should be left behind. Before designing the new SOF process, we must first
analyze the processes in the past.
Pros and Cons of the 1993 SOF Process
Analyzing the strengths and weaknesses of the SOF process will provide an idea
of which elements to retain and discard for the new SOF process.
-Structure format of the SOF
process is very comprehensive
and detailed.
-On-going negotiations
between divisional and sector
head. This provides an
opportunity for each division to
justify their case for the budget
that is required.
-Helps to better forecast the
-Worldwide teams report less detailed
financial data making it more difficult to
forecast future financials
-SOF books prepared by business units
that include data from various geographic
areas. They might not be familiar with the
particular region and make for an inaccurate
-Feedback from initial proposal is very
informal from sector heads
Page | 3

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Becton Dickinson Designing the New Strategic, Operational, and Financial Planning Process MGTD54H3 Date: March 31, 2011 Name: Veronica Wang Student #: 996095318 Page 2
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