Business Enterprise Planning?

Target-setting: EBP is forward-looking, helping to establish the goals an organization intends to achieve over the planning period. These goals include both financial targets (e.g., revenue growth, cost reduction, operating profit, return on capital) and strategic targets (e.g., market share, new products). The process involves setting and monitoring financial estimates about capital expenditures and operating budgets, both for the organization as a whole and for individual divisions and business units.

Decision support: EBP makes decisions more coherent by constraining the range of alternatives to consider and by acting as a heuristic that reduces the searching required to find an acceptable solution to a decision problem. Also, it enables the knowledge of different functions to be pooled and integrated.

Steps for enabling and accelerating Enterprise Business Planning

Visioning
Establish a baseline of strengths and improvement opportunities for your business planning processes with defined metrics against current performance levels. Then, develop and align on an EBP vision, identifying high-value use cases, as well as areas where organizational inertia will need to be addressed.
Strategy development
Finalize the vision, prioritize use cases, and define the governance model. Develop and get approval of the business case based on key performance indicators (KPIs) and targets. Create a phased implementation plan that delivers tangible value each quarter, defining pilot projects that can generate value quickly and mobilize the organization.
Piloting
Develop pilot programs that align with the EBP vision and demonstrate how new capabilities would be enabled. These programs should address all four core elements of people, process, data, and technology. Validate value generation and KPI impact. Prove the EBP strategy by generating business value early.
Industrialization
Refine pilots and scale their capabilities into sustainable solutions throughout the enterprise. Digitally enable the capabilities.