In today's fast-moving and competitive business environment, it is rare that we see an effective business planning process in high-technology businesses. Typically, plans fail because they are too secretive, too long, too wordy, too complex, too bureaucratic, poorly organized, or based on internal data, and so on. A Market Engineering-based planning system can bring your company a business planning process that is efficient, powerful, and easy to implement.

10 Ways Market Engineering Can Help Make Business Plans Effective

1. It improves communication between departments.
2. It integrates the entire staff into the planning process.
3. The measurement-based system is easier to develop, communicate, and implement.
4. The plans are based on the company's market position rather than internal guesses or desires.
5. The Market Engineering monitoring process assists in effective implementation.
6. It serves as a navigational tool to plot an effective course toward the goal.
7. It fosters a simple template system that takes less time to create and approve.
8. It optimizes the impact on the bottom line.
9. Strategies are segmented by department and product, and are driven by trends in Market Engineering measurements.
10. Strategy effectiveness becomes easy to measure and evaluate.

Checklist for Market Engineering-Driven Business Plans

• Integration of all departments, including sales
• Participation of all staff in process
• Current market position "point A" is clearly identified with Market Engineering Measurements
• Clearly identifying goals, "point B," with market measurements
• Buying, reading, and implementing Industrial Market Engineering or Healthcare Market Engineering
• Including competitive position measurements
• Performing annual customer analysis
• Setting quarterly/monthly dates for review
• Setting measurements of performance (MOPS)
• Using a clear, measurement-based template
• Clearly communicating the plan to entire staff responsible
• Making each person aware of their role in achieving company goals

The following questions will help our consultants target their strategic consulting advice to your specific situation. Once we receive this information, our consultants and market analysts will analyze your situation based on the Frost & Sullivan world database of market information, applying years of practical industry experience and current market conditions. There is no obligation and no cost for this service. Please take time to answer the questions in as great detail as possible. Your responses will be kept strictly confidential and will only be used to create carefully targeted strategic advice.

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Challenge Questions: Business Planning

1. What problems do you experience with the business planning process?
2. Do you consider the planning process to be an effective use of time?
3. Are the current plans effectively implemented and monitored?
4. Does the entire department team participate in the process?
5. Are the plans based on internal measurements such as budgets and last year's sales rather than on market measurements?
6. Are the completed plans communicated clearly to the staff?
7. Do the plans integrate competitive positioning information?
8. Do the plans include goals based on the competition?
9. Are the customer measurements integrated into the planning process?
10. What period of time do your plans cover?
11. Are the plans measurement-based or text-based?
12. Are all goals in the plans measurable, realistic, and challenging?
13. Do all goals have clear, tactical plans for achieving them?
14. Is the company's current market position clearly identified in the plans?

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