Every business has levels of hierarchy from the top most to the basic levels of employment. They are however generally classified into three levels according to the functions they conduct and those are the technical level, the expert level and the executive level. At the technical level, there are the individuals that are involved with the day to day operations in the business.
The smooth running of the operation of day to day working of the business and their drafting is the work of the expert level. This level too is made up of professionals who offer solutions to problems faced by the technicians. This is the most critical level of the business because it bridges the executive and the technical levels.
The Executive level on the other hand is involved in the decision making of the business and the planning for these future. The measures to be employed towards the achievement of the targets set are decided by this level of employees which is the top most in the hierarchy. The setting of targets for the company and the methods to employ to achieve them is what is called executive planning. Consideration should be given to a number of factors while doing the executive planning.
The first factor is the goals of the business. As the company was being formed, the eventual objectives that warranted for the formation of the business are the ones called the goals of the company. The goals set a time frame within which a certain objective should be achieved. The goals of the business and the plans that are put in place here should fall in line together. A good plan will ensure that while they are completed, the goals will be a step closer to be achieved.
Consideration now should be made on the cost involved in the planning. For a plan to be completed and run smoothly, each and every plan will require funding so that it can be able to run smoothly. This funding if to be provided by the business should ensure that it is able to run to the end. Manageability of the funds that the business allocates for the completion of the objectives in its budget should be possible.
The space for the expansion is the third plan. Each and every business has an objective to grow and to expand in the future. Therefore, the business should have enough space to grow and to expand as per the plans made. Organizations should have enough space to expand or else their plans are limited.