Time critical to planning says DTI

Kashflow logo
Share this content

The Department of Trade and Industry (DTI) has published research that suggests British businesses are missing out on improving productivity gains "because time pressures are making business planning take a back seat."

The research suggests nearly 95% of the business managers and directors recognise that investing more time in day-to-day planning would improve overall business performance. And although 90% of businesses admitted to spending less

than two hours each week on business planning with almost a quarter of these saying they simply don't have enough time in the week to plan properly.

Eighty-four percent of businesses "are worried that they are not able to spend enough of their time planning to improve their business in a more proactive way."

Andy Poulton, DTI Best Practice champion sai...

Please Login or Register to read the full article

The full article is available to registered AccountingWEB.co.uk members only. To read the rest of this article you’ll need to login or register. Registration is FREE and allows you to view all content, ask questions, comment and much more.

About AccountingWEB


Please login or register to join the discussion.

By paulgil
01st Mar 2005 22:39

As it happens I do agree with the learned gentleman from the DTI. However, I do wish that government departments (whether DTI, Treasury, IR or whatever) would not lecture businesses on things they are pathetic at themselves.

On a more positive note, the powerful way to start any planning process is a good old SWOT Analysis, followed by a Key Points Analysis. Involve others if possible - the view of employees or colleagues (or accountants) often gives an alternative view (avoids wood, trees and all that).

Not quite zen, but it does concentrate the mind.

Thanks (0)
01st Mar 2005 15:39

Plan as the Persians once did

Always make sure you plan like the ancient Persians once did:

1)Make the plan sober
2) Next day make the plan when drunk
3) Evaluate both plans and see which one makes more sense.

It worked for them - for a couple of hundred years anyway.

Thanks (0)
28th Feb 2005 16:55

The quickest planning tool I know is a window.

Go stand by one.

Take an issue that needs resolving with you in your head.

Look out of it for three minutes.

Ignore everything else but the distance (even if it's a brick wall) and the problem.

Go back to your desk.

Write down what you now think about the issue that needed to be planned.

It won't be a perfect solution.

But it's better than none.

Thanks (0)