business planning duties and responsibilities

What Does a Business Planning Manager Do?

Find out what a Business Planning Manager does, how to get this job, salary information, and what it takes to succeed as a Business Planning Manager.

The Business Planning Manager plays a strategic role in steering the company’s direction through comprehensive market analysis, forecasting, and resource allocation. This position involves synthesizing complex data into actionable strategies that align with the company’s long-term goals and financial objectives. By closely monitoring industry trends and evaluating business performance, the Business Planning Manager ensures that the organization remains agile and responsive to changing market demands. Collaboration with various departments to develop and implement plans that enhance operational efficiency and profitability is also a significant aspect of the role. Through a balanced approach to risk management and opportunity identification, the Business Planning Manager supports the company in maintaining a competitive edge and achieving sustainable growth.

Business Planning Manager Job Duties

• Develop and implement comprehensive business plans to facilitate achievement by planning cost-effective operations and market development activities.
• Analyze and forecast financial, economic, and other data to provide accurate and timely information for strategic and operational decisions.
• Coordinate cross-functional teams to develop business strategies and objectives, ensuring alignment with corporate goals.
• Evaluate competitive market strategies through analysis of related product, market, or share trends.
• Identify and drive initiatives to improve operational efficiency, including process improvements, cost reduction, and systems enhancements.
• Facilitate communication and collaboration among departments to ensure that business planning and strategies are aligned with company-wide goals.
• Oversee the preparation of operational and risk reports for management analysis.
• Spearhead the development of new business opportunities, including expansion, mergers, acquisitions, and partnerships.

Business Planning Manager Salary & Outlook

Factors affecting a Business Planning Manager’s salary include industry sector, company size, years of experience, and specific skills in strategic planning, financial modeling, and market analysis. Performance outcomes and the ability to influence business growth also significantly impact compensation.

• Median Annual Salary: $110,250 ($53/hour)
• Top 10% Annual Salary: $152,000 ($73.08/hour)

The employment of business planning managers is expected to grow faster than average over the next decade.

This growth is driven by the increasing complexity of global markets, the need for strategic planning in competitive environments, and the demand for innovation in product and service development. Business Planning Managers are pivotal in navigating these challenges, making their role more critical than ever.

Business Planning Manager Job Requirements

Education: A Business Planning Manager typically holds a Bachelor’s Degree in Business Administration, Finance, or a related field. Coursework often includes strategic management, financial analysis, market research, and organizational behavior. Advanced degrees like an MBA can enhance prospects, focusing on leadership, advanced strategic planning, and international business. Specialized courses in data analysis, project management, and economics are also beneficial, equipping candidates with the necessary skills to excel in developing and implementing business strategies.

Experience: Business Planning Managers typically come from diverse experience backgrounds, with a significant portion having substantial experience in strategic planning, financial analysis, and project management. Many have progressed through roles that required increasing responsibility in business strategy and operations. On-the-job training is common, often through mentorship or rotational programs within a company, allowing for hands-on experience in different business units. Training programs focusing on leadership, data analysis, and market research are also valuable, equipping candidates with the skills to lead cross-functional teams and drive business growth. Successful candidates often demonstrate a blend of practical experience in business planning and strategic initiatives, coupled with formal training programs that enhance their analytical and leadership capabilities.

Certifications & Licenses: Certifications and licenses are not typically required for the role of Business Planning Manager.

Business Planning Manager Skills

Strategic Forecasting: Leveraging data-driven insights, a Business Planning Manager predicts market trends to develop strategies that align with organizational goals. This involves synthesizing diverse information sources to anticipate challenges and opportunities, keeping the company agile and competitive.

Market Analysis: Through the meticulous examination of trends, customer behaviors, and competitor activities, Business Planning Managers can forecast market demands and pinpoint opportunities or threats. This skill hinges on thorough data collection and interpretation to inform strategic decisions.

Financial Modeling: Business Planning Managers create detailed, predictive models of a company’s financial future to forecast revenue, assess risk, and efficiently allocate resources. This requires a solid grasp of accounting principles, spreadsheet software proficiency, and the ability to interpret market trends for data-driven strategic planning.

Risk Management: By identifying potential threats and developing strategies to mitigate them, Business Planning Managers protect the organization’s interests and ensure its long-term sustainability. Analyzing market trends, financial forecasts, and operational vulnerabilities is crucial for preemptively addressing challenges.

Stakeholder Engagement: Building and maintaining strong relationships with investors, partners, and internal teams is critical for aligning business strategies and meeting project milestones. This skill ensures smoother project execution and fosters an environment of trust and mutual respect.

Performance Optimization: Data-driven insights and lean methodologies are used to streamline operations, reduce waste, and boost business efficiency. Analyzing performance metrics, identifying bottlenecks, and implementing strategic interventions are key for sustained organizational improvement.

Business Planning Manager Work Environment

A Business Planning Manager typically operates within a structured office environment, where the workspace is designed to foster both concentration and collaboration. The setup usually includes personal computers, advanced planning software, and access to data analytics tools, essential for strategic decision-making and forecasting.

Work hours might extend beyond the traditional 9-to-5, especially during critical planning phases, though many organizations offer flexibility to accommodate work-life balance. The dress code tends to align with corporate standards, leaning towards business casual or formal, depending on the company’s culture and external meeting requirements.

The role demands frequent interaction with team members, stakeholders, and departments, necessitating strong communication channels and a cooperative atmosphere. Travel may be required for industry events or company-wide meetings, adding variety to the routine.

Professional development opportunities are often available, encouraging continuous learning and advancement in strategic planning methodologies and leadership skills. This role thrives in a setting that values analytical thinking, adaptability, and collaborative problem-solving.

Advancement Prospects

A Business Planning Manager can ascend to higher strategic roles within an organization, such as Director of Strategy or Chief Operations Officer (COO), by demonstrating exceptional analytical, leadership, and decision-making skills. Success in this career path hinges on the ability to drive business growth and efficiency through innovative planning and execution.

To achieve these advancements, a Business Planning Manager should focus on spearheading high-impact projects and initiatives that align with the company’s long-term goals. Gaining experience in cross-functional team leadership and developing a deep understanding of the industry’s competitive landscape are crucial.

Building a track record of successful business plans and strategies that have significantly contributed to the company’s profitability and market position will set a solid foundation for moving into top executive roles. Engaging in high-level decision-making processes and demonstrating a keen insight into market trends and business opportunities are essential steps toward career progression in this field.

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Business Plan Consultant Job Description Template

A business plan consultant provides a financial, marketing, and operational roadmap to align stakeholders and help your business achieve its goals.

Trusted by leading brands and startups

Business plans are the North Star for early-stage businesses, used as a reference point when making major business decisions, collateral when securing a new fundraising round, and as an introduction to the business and its goals when recruiting new key hires.

While business plan templates can be found online, these ready-made guides can drive entrepreneurs and their businesses away from what they actually need to achieve. A top business plan consultant will construct a custom plan that takes into account the specifics of your business, or review and pressure-test an existing plan while taking into account the latest industry trends.

Business Plan Consultant - Job Description and Ad Template

Copy this template, and modify it as your own:

Company Introduction

{{Write a short and catchy paragraph about your company. Provide information about the company’s culture, perks, and benefits. Mention office hours, remote working possibilities, and anything else that makes your company interesting.}}

Job Description

A business plan consultant provides strategic direction by {{creating or methodically pressure-testing and refining}} a company’s business plan, using an understanding of the company’s core operations, competitive advantages, and goals to provide direction on how to structure, run, and grow the business.

The ideal candidate will have some experience in running or advising early stage businesses, combining the analytical abilities of a CFA charterholder with the broad vision of a CEO to provide a roadmap to growth.

Responsibilities

• Develop an understanding of the existing business (including products/services, customers, competitors, the overall market and trends) through careful research and analysis
• Understand how major stakeholders are thinking about near-term growth, generally and in reference to specific growth initiatives, through interviews with these stakeholders
• Build a detailed financial analysis showing all of the assumptions, drivers, and financial statements for the next 3 - 5 years, accounting for a conservative, base, and aggressive case
• Conduct a total addressable market analysis for the business’ core market, assess major industry trends affecting the business, and describe what impact these trends may have on the business
• Review research reports and conduct primary research to hone in on ideal buyer type and assess customer demand for the company’s existing products and services
• Map out direct and indirect competitors, including potential future competitors, for existing and potential revenue channels
• Define a go-to-market strategy, including testing out potential marketing channels (if applicable)
• Review compensation plans and organizational structure to align incentives and ensure the health of the organization in the long-run

Skills and Qualifications

• Bachelor’s degree in finance, operations, research, statistics, math, economics, or related analytical discipline preferred
• Financial management experience with planning, forecasting, and business analysis; prior experience as an advisor to or executive at an early-stage company a plus
• Advanced Excel proficiency. 3+ years of practical experience of using Excel for building and maintaining financial models
• Proficiency with analytical and presentation tools {{(Excel pivot tables, SQL queries, graphing, PowerPoint)}}
• Experience within {{preferred industry}}
• A natural curiosity and a “big picture” mentality
• Experience conducting market research, including analyzing and synthesizing research reports and conducting primary research
• An understanding of marketing channels and go-to-market strategies
• Excellent spoken and written communication; comfort reaching out to and interviewing the company’s management, employees, and customer base

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Business Plan Consultants: Who They Are and How They Create Value

How to hire business plan consultants.

Business plan consultants have the industry knowledge and expertise to develop a business plan that maximizes your company’s potential and attracts investors. This guide to hiring business plan experts offers insight into best practices, skill requirements, job description tips, and interview questions and answers to help you identify the best candidate for your needs.

Hire a Top Business Plan Consultant Now

Toptal is a marketplace for top Business Plan consultants and experts. Top companies and startups hire freelance Business Plan consultants from Toptal for their mission critical projects.

Andon Baltakov

Andon is a fractional CFO and a fundraising expert for clients of Toptal. Most recently, he devised a novel business plan and a financial model for a sports information company. He also provided advisory services to launch a new social, digital business. Currently, he is working with the CFO of an entertainment enterprise to structure a business model and expand a side video project into a multimillion-dollar film business. Andon is a seasoned strategy executive who worked at the AP, CNN.

Trevor Davis

Trevor is an experienced entrepreneur and banker with a background in business plan development, financial modeling, M&A, capital raising, and business valuation. He has worked and advised clients across many industries. Trevor has worked on over $5 billion of M&A and financing transactions and has advised clients ranging from early-stage startups to multi-billion dollar businesses.

Aaleem Jiwa

As a Deloitte consulting manager, Aaleem led the creation of a business plan and financial model for a city-owned real estate firm that enabled them to develop 50 properties in 10 years. He has helped owners of small companies and executive teams at multi-billion dollar entities optimize their businesses through financial analysis. Aaleem travels extensively, and freelancing allows him to deliver value to companies from any city in the world.

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Strategic Planner job description

A Strategic Planner is responsible for shaping business strategy, developing plans, analyzing data, and aligning goals to achieve the company’s objectives. Strong strategic thinking, analytical skills, and market research experience are essential.

Nikoletta holds an MSc in HR management and has written extensively about all things HR and recruiting.

Refreshed on

June 9, 2023

Reviewed by

Eftychia Karavelaki

Senior Recruitment Manager

This Strategic Planner job description template is optimized for posting to online job boards or careers pages and easy to customize for your company.

What is a Strategic Planner?

A Strategic Planner is a professional who is responsible for shaping the overall business strategy of a company, developing strategic plans, and assessing company performance to achieve business objectives.

What does a Strategic Planner do?

A Strategic Planner develops and implements plans to materialize the company’s strategy, conducts research and data analysis to inform business decisions, and aligns department goals with the overall strategy. They also monitor industry trends, provide insights into organizational changes, and support senior executives in making effective decisions.

Strategic Planner responsibilities include:

• Shaping the company’s overall business strategy
• Developing strategic plans and assessing company performance
• Conducting research and data analysis to inform business decisions

Want to generate a unique job description?

Looking for a job.

We are seeking a Strategic Planner to shape our company’s direction and create plans to achieve our business objectives.

You will play a crucial role in maintaining our competitive edge and effectively allocating resources.

Strategic thinking is a vital skill required for this position, along with strong analytical and organizational abilities.

Your contributions will be instrumental in guiding our company through changes, fostering growth, and ensuring long-term success.

As a Strategic Planner, you will have the opportunity to make a significant impact on our company’s strategic decisions and drive our business forward.

Join our team and be a key player in shaping our future.

Responsibilities

• Understand and shape the company’s strategy and mission
• Develop plans to materialize strategy and analyze business proposals
• Research competition to identify threats and opportunities
• Assess the company’s operational and strategic performance
• Align processes, resources-planning and department goals with overall strategy
• Provide support and insight into significant organizational changes (e.g. shift in strategic focus, mergers and acquisitions)
• Educate senior executives in making effective decisions
• Construct forecasts and analytical models
• Monitor and analyze industry trends and market changes

Requirements and skills

• Proven experience as a Strategic Planner or Business Consultant
• Understanding of market research and data analysis
• Knowledge of business operations and procedures
• Demonstrable strategic thinking abilities
• Analytical mind with problem-solving aptitude
• Organizational and leadership skills
• Excellent communication skills
• BSc/BA in Business Administration, Marketing, Finance or a related field; MSc/MA/MBA is a plus

Post this Strategic Planner job to over 200 job boards at once.

Frequently asked questions, related job descriptions.

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What does a Business Planner do?

A business planner specializes in developing and implementing business plans and procedures. Their job entails conducting extensive research and analyses to identify key business participants, determine the strengths and weaknesses of existing operations, and find new business opportunities. They also perform risk assessments, address potential operational costs, and identify issues and concerns, resolving them promptly and efficiently. Through their research findings, a business planner develops strategies to optimize operations and prevent significant losses when problems arise, helping the company run smoothly and efficiently.

• Responsibilities
• Skills And Traits
• Comparisions
• Types of Business Planner

Business planner responsibilities

According to Marykate Conroy , Director of Career Development & Employer Relations at The Busch School of Business, "database querying languages, statistical analysis software, data visualization, data mining, and programming skills" are important for business planners. Resumes often highlight responsibilities such as "owned all purchasing, planning and expediting, and placed POs based on MTO lead times in Oracle ERP" and "developed strategies to expand revenue and profitability with key OEM customers in India and China." Additionally, business planners may "coordinate with QA/QC monitoring all production documentation and certification according to manufacturing ISO 9001 standards are completed and closed" and "manage supply-planning process of inventory control, demand planning & material planning for 8 Gatorade/Propel production lines & 2 co-pack locations."

Here are examples of responsibilities from real business planner resumes:

• Manage cost-centers and leverage unique Indian production and post- production capabilities and position the company as a prefer production partner.
• Coordinate logistics with multiple carrier partners and multiple distribution centers.
• Coordinate raw material logistics, serum manufacturing, gamma irradiation processing and other serum processes with third party contract manufacturers.
• Lead monthly and quarterly EAC forecasting and consolidate forecasts in support of corporate financial reporting.

Business planner skills and personality traits

We calculated that 10 % of Business Planners are proficient in Data Analysis , Strong Analytical , and Financial Analysis . They’re also known for soft skills such as Leadership skills , Analytical skills , and Communication skills .

We break down the percentage of Business Planners that have these skills listed on their resume here:

Provided written data analysis and reports for Access Business Group using critical, time sensitive information received from numerous data vendors.

Delegated daily assignments to floor managers and exercised strong analytical skills to investigate and swiftly resolve customer issues.

Administered demographic analysis, market research, and financial analysis to further business development.

Functioned as Business Plan liaison between cross-function support organizations and Stamping Manufacturing Managers, communicating Stamping Business Planning objectives and initiatives.

Project Manager responsibilities supporting Global Purchasing & Supply Chain Executive Director.

Attended CEDM teleconferences: facilitated Logistics portion of information sharing and updates regarding Western/Central areas.

Most business planners use their skills in "data analysis," "strong analytical," and "financial analysis" to do their jobs. You can find more detail on essential business planner responsibilities here:

Leadership skills. To carry out their duties, the most important skill for a business planner to have is leadership skills. Their role and responsibilities require that "urban and regional planners must be able to manage projects, which may include overseeing tasks and planning assignments." Business planners often use leadership skills in their day-to-day job, as shown by this real resume: "influenced executive leadership to execute annual business development plans which yielded double-digit year-over-year growth in key categories. "

Analytical skills. Another essential skill to perform business planner duties is analytical skills. Business planners responsibilities require that "urban and regional planners analyze information and data from a variety of sources, such as market research studies, censuses, and environmental impact studies." Business planners also use analytical skills in their role according to a real resume snippet: "served as sole finance support for the central oem sales team providing financial business case analysis. "

Communication skills. This is an important skill for business planners to perform their duties. For an example of how business planner responsibilities depend on this skill, consider that "urban and regional planners must be able to communicate clearly and effectively because they interact with colleagues and stakeholders, prepare research reports, give presentations, and meet with a wide variety of audiences, including public officials, interest groups, and community members." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a business planner: "loaded purchase orders, expedited shortages, and ensured constant flow production on high volume telecommunications (box build) line. ".

Most common business planner skills

The three companies that hire the most business planners are:

• Microsoft 102 business planners jobs
• Slice, Inc. 9 business planners jobs
• HP 4 business planners jobs

Choose from 10+ customizable business planner resume templates

Compare different business planners

Business planner vs. supply chain analyst.

A supply chain analyst is responsible for handling the supply chain operations of an organization, aligning processes, and identifying areas of improvement to initiate procedures and create smooth supply delivery transactions. Supply chain analysts monitor the adequacy of stock inventory, including the trends in the market industry, to meet the public demands and ensuring that the business provides those interests. They also evaluate the supply cycle, from the planning stages to the final distribution, and analyzing aspects to minimize complexities and cost-reduction without compromising the quality of services.

These skill sets are where the common ground ends though. The responsibilities of a business planner are more likely to require skills like "financial analysis," "business plan," "market research," and "business processes." On the other hand, a job as a supply chain analyst requires skills like "customer service," "power bi," "continuous improvement," and "chain management." As you can see, what employees do in each career varies considerably.

Business planner vs. Urban design consultant

An urban design consultant is in charge of many projects, and so they have to oversee tasks and plan assignments. They are skilled in creating interior design solutions, space planning, sketching, and product selection. They have to analyze information and data gotten from market research studies and censuses. They also have to do presentations and prepare reports.

Each career also uses different skills, according to real business planner resumes. While business planner responsibilities can utilize skills like "data analysis," "strong analytical," "financial analysis," and "business plan," urban design consultants use skills like "gis," "urban design," "sketch," and "landscape architecture."

Business planner vs. Planning internship

When it comes to planning an internship, an intern's duties will depend on the directives of supervising staff or a manager. Typically, an intern's responsibilities will revolve around performing clerical tasks such as processing documents, producing reports and presentations, responding to calls and correspondence, and managing schedules. There are also instances where an intern must share ideas and insights, attend meetings, maintain records, update databases, and assist staff in various tasks while under more experienced colleagues' supervision.

The required skills of the two careers differ considerably. For example, business planners are more likely to have skills like "strong analytical," "supply chain," "logistics," and "demand planning." But a planning internship is more likely to have skills like "gis," "data collection," "arcgis," and "project management."

Business planner vs. Housing grant analyst

Types of business planner.

• Planning Manager

Supply Chain Analyst

Transportation planner, space planner.

• Facilities Planner

Updated June 25, 2024

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

What Similar Roles Do

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Business Planner Related Careers

• Associate Planner
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ZenBusinessPlans

Home » Business Plans

How to Write a Job Description for a Business Plan [Sample Template]

Are you in the process of writing the job description section of your business plan? Or you need a sample job description template? Then I advice you read on. Here, you drive home the point that not only do you know what you are doing or where you are going, but that you have the right mix of talent and experience to actually make it all happen.

You will need to highlight key members of your management team ( which may be only you for the time being ) as well as external service providers such as lawyers, accountants, and contract professionals. Also, include your advisors or board members ( if you have any ) as well as the positions you will be looking to hire in the near future.

While planning your business, one of the most important steps that you shouldn’t skip is writing a job description for every position that you are planning to hire an employee for. This may not be important if you have no plans to hire employees.

A job description is an important tool for hiring and managing your employees, as it helps them understand their roles and responsibilities even before they start working with you. It tells them what they need to do, how they need to do it, and what they will be held accountable for as soon as they assume their duties. It also reveal to investors who-is-who in your proposed or established business. In addition, a job description does the following:

4 Benefits of a Job Description in a Business Plan

• It helps you attract the right employees
• It gives a detailed description of an employee’s job or position
• It serves as a basis for outlining performance expectations, career advancement, job training, and job evaluation
• It provides a reference point for compensation decisions as well as unfair hiring practices

Writing a Job Description for a Business Plan – Sample Template

A job description should be clearly written, accurate, and very practical. It must effectively define your needs as well as what you expect from your employees. To write a good job description, you should start by analyzing the important facts about a job, such as:

The individual tasks involved

What are the tasks that the employee must complete on a periodic basis? Outline daily tasks, weekly tasks, monthly tasks, and quarterly tasks required of the employee. To be practical enough, outline the duration and requirements of each task as well.

The methods for completing each task

If the tasks outlined can be handled using more than one method, outline which methods you can afford to provide your employee (but for optimal employee efficiency, make provisions for the best method available).

The purpose and responsibilities of the job

Outline how the role played by the chosen candidate would contribute to the business. Also, outline what the employee would be held accountable for.

The relationship of the job to other jobs

Outline how the chosen employee would work with other employees within the company.

Qualifications needed for the job

Outline the relevant qualifications that each candidate must have. Also state the number of years for which the candidate must have gained working experience in the same position.

The Outline of a Job Description

A job description typically includes the following:

• Job objective or overall purpose statement
• Brief of the general nature and level of the job
• Detailed description of the wide scope of the position
• List of duties or tasks to be performed that are critical to success
• Key functional and relational responsibilities (listed in order of significance)
• Description of the relationships and roles within the company, including the supervisory roles, subordinating roles, and other working relationships

In addition to the above listed, the following items may be added to the job description if deemed necessary:

• Job requirements, standards, and specifications
• Job location where the work will be performed
• Equipments available to be used for the job
• Salary range

5 Tips to Note When Writing a Job Description

• Always use verbs in the present tense.
• For the purpose of clarity and adding meaning, use explanatory sentences telling why, how, where, or how often whenever necessary.
• Delete any unnecessary articles such as “ a ”, “ an ”, “ the ” or other stop words to make the description easy to read and understand.
• Be unbiased in your use of pronouns. Use the “ he/she ” approach or construct your sentences in such a way that you won’t have to use pronouns.
• Avoid the use of adverbs or adjectives that are subject to additional explanation and interpretation; such as some, complex, several, occasional, frequently, etc. Rather than use them, use clear sentences that define your intent.

What to Avoid When Writing a Job Description

Don’t be rigid with your job description, as this may make you miss out on many diligent employees who can become great assets to your business. Jobs are subject to change for personal improvement, organizational development, and evolution of new technologies. A flexible job description encourages employees to grow within their position and contribute over time to the growth and development of your business.

In conclusion , a well-written job description can make all the difference between a successful business that grows over the years and one that remains on the same spot after several years. The right employees, if chosen for your business, can help propel your business to great heights within a short period. Only with a good job description can you hire such.

• Go to Chapter 8 Part E: Planning your Business Legal Structure

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• 12 Responsibilities of a Small Business Owner
• Learning Center
• Business Owners

R unning a business comes with exciting opportunity, flexibility, and independence, but it’s also a major role to take on. Depending on your unique business situation, you’re probably doing much more than overseeing operations. Even when you’re involved in all the different everyday tasks, it’s important to remember your core responsibilities.

Why is it important to know the responsibilities of a small business owner?

Being a small business owner means wearing many hats and juggling many responsibilities each day. Understanding your responsibilities helps you stay organized and on the track to growth. Here’s why it’s important to know your responsibilities:

• Increased efficiency. Knowing that your responsibilities include the hiring and training process and overseeing your current employees means you’ll never neglect one group at the other’s expense. As a result, everyone will have all the resources they need to complete their work. With full resource access, your employees will get their work done more quickly, and your company will be more efficient.
• Less time wasted. When you sit atop the chain of command, your actions (or inaction) often affect your work environment and output. For example, if your development team can’t offer new goods or services without you approving the budget, your company loses precious time if you neglect your financial responsibilities. This possibility is far less likely if you know all your responsibilities.
• More knowledge. If you’re aware that business owners oversee customer service, marketing, finances, and all kinds of other tasks, you build knowledge in all kinds of areas. This means you have a stronger foundation to pull from when drafting a business plan for any new initiatives. It also means knowing what will and won’t work when executing your social media marketing strategy . For small business owners, knowledge is power.

12 responsibilities of a small business owner

Among the (many) responsibilities of a small business owner are the following:

1. Creating a business plan and strategy

As the owner of the small business, you decide the direction you’re heading and how you’ll get there. Setting benchmarks based on your long-term vision can help you understand what you need to achieve your dreams, whether that be time, resources, strategies, or a helping hand. If you do have a team supporting you, they’ll be empowered in their work when you’re transparent about your plan of action.

It can take a brainstorming session or two, or five, to narrow down what your most meaningful goals are and how they translate into actionable steps. Don’t hesitate to set aside time for high-level planning sessions where you measure progress, gather insights, and readjust the game plan if necessary.

2. Keeping track of finances and accounting

Most small businesses ( 81%, to be exact ) apply for a business loan or an SBA loan at some point. Depending on your needs and financial history, you’ll probably have to weigh your options when it comes to outside financing. Unless you’ve hired an accountant or bookkeeper, you’re also responsible for establishing and maintaining business bank accounts, payment processing systems, taxes, and day-to-day costs.

Not sure how you can apply the funds from a small business loan? Read our in-depth guide on the SmartBiz Resource Center: Determining Use of Proceeds .

3. Handling legal and compliance responsibilities

Running the ship comes with a new level of freedom, but it also means complying with rules and regulations. From the very beginning when you’re forming a business structure to the daily routines like drafting contracts and agreements, you should have at least some knowledge of the laws specific to your industry, location, and business type. When you need professional advice, it might be worth working with an attorney.

4. Managing marketing and sales

Even with a standout product or service, you’ll need to establish solid marketing strategies to bring customers through the door and drive your sales up. With so many available options out there, it’s up to you to decide the approach that fits best with your business goals. Some opportunities include social media, print advertising, PR, and event marketing.

5. Ensuring outstanding customer service

Next, once you’ve built a customer base, consider keeping them engaged throughout the sales process. Forming a relationship with the individuals who use your product or service is key to keep them coming back and even referring more customers. Whether you have a sales team or you’re wearing all the hats, there are plenty of tools out there that can help you manage and automate your processes. Looking into Customer Relationship Management (CRM) platforms is a great place to start. For inspiring customer service stories, check out this post: 6 Best Examples of Customer Service .

6. Identifying hiring and HR needs

As your small business grows, you might find that it’s time to hire help. Before you take the plunge and start placing ads, consider how much you’re willing to offer for potential candidates. Just like any other venture, this decision is probably a major turning point for your business so don’t underestimate the impact that hiring can have. Some of your responsibilities as the owner include identifying your company’s needs, crafting job descriptions, interviewing candidates, and making key hiring decisions.

7. Overseeing the team

The work doesn’t stop there—once you’ve hired the employees you think are a good fit, it’s your job to train, manage, and lead by example. When questions or concerns arise, you should be there for your team. Be sure to comply with local hiring laws to avoid any missteps that can result in big consequences. Visit the U.S. Department of Labor to learn what it takes to hire employees in your area.

8. Managing day-to-day operations

As a small business owner, you need to identify and manage all processes that keep your customers happy and support healthy growth, from manufacturing products to signing off on invoices. Although you don’t necessarily need to be hands-on in every process, you do need to make sure your team completes every step in a timely, thorough manner. Without this management, your products or services might not reach your standards.

9. Planning new initiatives

If your day-to-day operations aren’t getting you where you want to be, maybe it’s time to branch out. The responsibility for planning this expansion falls on you, though you can seek help from your employees or business partners. Market research will come in handy here, as will identifying other companies with which you can partner. So too will drafting a business plan for your new initiatives. Learn more via the SmartBiz Loans blog Ultimate Guide on How to Start A Business Plan .

10. Training your team

Employee training doesn’t stop after the initial onboarding process. Continued training is highly recommended, as it can minimize employee mistakes and prepare your team for any new paths your company might take. However, even if you task certain employees with executing your training program, it remains your responsibility to ensure everyone is receiving adequate instructions. After all, it’s your business – you wouldn’t want anyone working for you without being fully prepared.

11. Addressing technology issues

Small business owners like yourself should know the ins and outs of all the technology their company uses. This way, both new and longtime employees can go to you for quick, thorough answers. The result is a more efficient team that doesn’t fall behind when technological obstacles arise.

12. Staffing and management

As the owner of your company, you’re the final step for all human resources, customer service, and employee management concerns. Depending on the type of company you own, you may have sole discretion over these concerns. Alternatively, if you’re small enough that you’ve outsourced your HR to a third party, this entity may handle it. However, if you’re unhappy with how things are handled, you still get the final say.

Small business resources

As you see continued business success, you’ll probably identify key areas where you can grow. A boost in cash flow means that you can expand your programs and build your operations. Interested in receiving personalized recommendations and tips that can help you take your business to the next level?

Get started with SmartBiz Advisor today. Our free, AI-powered tool will be your Intelligent CFO, providing you with the insights and resources you need to strengthen your lending profile and qualify for the funding you deserve.

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The SmartBiz® Small Business Blog and other related communications from SmartBiz Loans® are intended to provide general information on relevant topics for managing small businesses. Be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed. Please consult legal and financial processionals for further information.

Legal Responsibilities of Private Company Directors

Private company directors are entrusted with a thorough range of legal responsibilities that span fiduciary duties, compliance with laws and regulations, financial accountability, and stakeholder obligations. They must prioritize the company's objectives, verify compliance with relevant laws and regulations, and make informed decisions that drive growth and mitigate risks. Directors are also accountable for maintaining transparency and accountability in financial reporting, guaranteeing that the company submits accurate and timely tax returns, and upholding the company's reputation by adhering to ethical standards and regulatory requirements. By fulfilling these obligations, directors can guarantee the long-term sustainability and success of the company, and further exploration of these duties reveals the intricacies and nuances of a director's role.

Table of Contents

Duties to the Company

A company's directors owe fiduciary duties to the organization, serving as stewards of its assets and interests. This fundamental principle of company governance underscores the critical role directors play in shaping the company's future. In exercising their duties, directors must prioritize the company's interests above their own, ensuring that Board decisions align with the organization's objectives.

Directors are responsible for overseeing the management of the company, making strategic decisions that drive growth, and mitigating risks. They must remain informed about the company's operations, financial performance, and market trends to make informed decisions. In addition, directors are accountable for ensuring the company's compliance with relevant laws, regulations, and industry standards.

In fulfilling their duties, directors must act with care, diligence, and good faith, avoiding conflicts of interest and self-dealing. They must also maintain confidentiality and handle sensitive information with discretion. By discharging their duties effectively, directors can enhance the company's reputation, foster trust among stakeholders, and contribute to long-term sustainability.

Fiduciary Responsibilities

The fiduciary responsibilities of directors span a broad spectrum of obligations, with the cornerstone being the duty to act in the best interests of the company. This incorporates a range of duties, including the obligation to exercise independent judgment, avoid conflicts of interest, and maintain confidentiality. Directors must prioritize the company's interests above their own, guaranteeing that their actions are transparent, accountable, and in line with the company's objectives.

In the event of conflicts, directors must employ effective conflict resolution strategies to mitigate potential risks and protect the company's interests. This may involve disclosing conflicts, abstaining from decision-making processes, or implementing measures to manage conflicts. Confidentiality obligations are also paramount, as directors have access to sensitive information that could be detrimental to the company if disclosed. Breaches of fiduciary duties can result in legal action, reputational damage, and financial losses, highlighting the importance of directors understanding and fulfilling their fiduciary responsibilities. By doing so, they can guarantee the company's long-term success and maintain the trust of stakeholders.

Compliance With Laws

Directors' legal responsibilities extend beyond fiduciary duties to incorporate compliance with laws and regulations. This spans adhering to various statutory requirements, industry regulations, and tax obligations. Directors must guarantee that the company complies with all applicable laws, regulations, and standards, including those related to employment, health and safety, environmental protection, and consumer protection.

In terms of tax compliance, directors are responsible for guaranteeing that the company submits accurate and timely tax returns, including corporate tax, value-added tax, and other relevant taxes. Failure to comply with tax laws and regulations can result in severe penalties, including fines and even criminal prosecution.

Furthermore, directors must also comply with industry-specific regulations, such as those related to financial services, healthcare, or telecommunications. Non-compliance with these regulations can lead to reputational damage, financial losses, and legal action. By guaranteeing compliance with laws and regulations, directors can mitigate risks, protect the company's reputation, and maintain stakeholder trust.

Financial Accountability

Five key areas of financial accountability fall under the directors' legal responsibilities: financial reporting, internal controls, risk management, auditing, and financial disclosure. Directors are responsible for verifying accurate and timely financial reporting, which includes preparing and presenting financial statements that comply with relevant accounting standards and regulatory requirements. Effective internal controls are also vital to mitigate financial risks and prevent misstatements or fraud.

Directors must oversee financial planning, guaranteeing that the company's financial strategies align with its overall objectives. This includes setting financial goals, allocating resources, and monitoring performance. Audit oversight is another critical aspect of financial accountability, as directors must confirm that the company's financial statements are subject to independent audit and review. By fulfilling these financial accountability responsibilities, directors can maintain the trust of stakeholders, protect the company's reputation, and secure long-term sustainability.

Stakeholder Obligations

Beyond guaranteeing financial accountability, directors have a broader set of responsibilities that extend to various stakeholders who have a vested interest in the company's success. These stakeholders include shareholders, employees, customers, and suppliers, among others. Directors must consider the interests and expectations of these stakeholders when making decisions that affect the company.

Directors owe a duty to:

• Meet shareholder expectations by delivering sustainable long-term growth and returns on investment
• Safeguard employee welfare by providing a safe and healthy work environment, fair compensation, and opportunities for growth and development
• Comply with customer and supplier contracts , maintaining strong relationships built on trust and reliability
• Uphold the company's reputation by adhering to ethical standards and regulatory requirements

Frequently Asked Questions

Can a private company have a single director.

A solo entrepreneur or business owner can indeed establish a private company with a single director, as there is no statutory requirement for a minimum number of directors, allowing for autonomous decision-making and control.

What Is the Minimum Age for a Private Company Director?

In the UK, the minimum age for a private company director is 16, as there is no statutory age requirement; however, directors must possess legal maturity, demonstrating capacity to understand their duties and responsibilities.

Can a Bankrupt Person Be a Private Company Director?

A bankrupt individual is generally disqualified from acting as a company director, as personal insolvency can compromise their ability to manage a company's finances effectively, and a poor credit history may raise concerns about their reliability.

How Do I Resign as a Private Company Director?

To initiate the resignation process, a director must provide written notice to the company, specifying the effective date of resignation, and ensuring fulfillment of outstanding director obligations, such as filing necessary documents and settling accounts.

Can a Non-Resident Be a Private Company Director?

A non-resident can be a private company director, as there is no statutory requirement for directors to be resident in the country of incorporation, allowing foreign nationals to participate in overseas governance.

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Strategy Job Descriptions

Head of business planning job description, head of business planning.

As the Head of Business Planning at [Company Name], you will be an integral part of the [Team], reporting to the [Reporting To]. Your role will involve collaborating closely with various teams, including [Teams Collaboration], to drive strategic planning and support the company's growth initiatives.

Responsibilities:

• Develop and implement the company's overall business planning strategies and initiatives.
• Lead the creation and execution of the annual business plan, including financial forecasting and budgeting.
• Identify and evaluate growth opportunities, market trends, and industry insights to inform strategic decision-making.
• Conduct in-depth analyses of financial and operational performance to drive improved business outcomes.
• Collaborate with cross-functional teams to align on strategic objectives and drive operational excellence.
• Provide guidance and support to department heads in developing their individual business plans.
• Monitor and report on key performance indicators (KPIs) to track progress against business goals.

Requirements:

• Bachelor's degree in Business Administration, Finance, or a related field.
• [X years of experience] years of experience in business planning, strategic analysis, or a similar role.
• Strong analytical and financial modeling skills.
• Proficiency in using business intelligence tools and software.
• Excellent communication and presentation skills.
• Proven track record of effectively collaborating with cross-functional teams.
• Experience in the industry is preferred.

Success Metrics:

• Achievement of annual business plan targets, including revenue, profitability, and market share.
• Timely and accurate financial forecasting and budgeting.
• Identification and successful implementation of growth opportunities.
• Positive feedback from department heads and cross-functional teams.
• Improvement in key performance indicators.
• Contribution to the overall growth and success of the company.

Your role as the Head of Business Planning at [Company Name] will play a crucial role in driving the company's growth, development, and achievement of strategic objectives. You will be responsible for overseeing and implementing the company's business planning strategies, collaborating with cross-functional teams, and monitoring key performance indicators to ensure the successful execution of the annual business plan. If you are a strategic thinker with a strong background in business planning and a passion for driving growth, we encourage you to apply.

Please contact [Contact Name] at [Email] to apply.

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Find your next head of business planning.

Use our free tailored job description to find the perfect candidate for the role of Head of Business Planning. Our job description provides detailed responsibilities, requirements, success metrics, and more. It can also be customized to fit your organization's specific needs.

About the Head of Business Planning

A Head of Business Planning plays a crucial role in the organization's strategic planning and execution. They are responsible for developing and implementing business plans, conducting financial analysis, forecasting and budgeting, and identifying opportunities for growth and improvement. They work closely with senior management and stakeholders to align business objectives with strategic initiatives.

FAQs about the Head of Business Planning

What is the role of the head of business planning about.

The role of the Head of Business Planning is to oversee and manage all aspects of strategic planning and execution within an organization. They are responsible for developing and implementing business plans that align with the company's goals and objectives. Our tailored job description provides a detailed overview of the responsibilities, requirements, and success metrics for this role, allowing you to find the perfect fit for your organization.

Why do you need a Head of Business Planning?

A Head of Business Planning is essential for successful strategy execution. They play a core role in aligning business objectives with strategic initiatives, ensuring that resources are allocated effectively, and monitoring progress towards goals. By having a dedicated professional in this role, organizations can enhance their ability to adapt to changing market conditions, make informed decisions, and drive sustainable growth.

What would be an average salary for the Head of Business Planning?

The average salary for a Head of Business Planning in the United States ranges from $100,000 to $150,000 per year, depending on factors such as location, industry, and experience. Salary estimates are based on reputable sources like Glassdoor and can vary depending on specific circumstances and qualifications.

Ready to find your next Head of Business Planning? Create your tailored job description.

Articles to get your started with head of business planning, your toolkit for strategy success.

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Strategic Planning Job Description

Strategic planning duties & responsibilities.

To write an effective strategic planning job description, begin by listing detailed duties, responsibilities and expectations. We have included strategic planning job description templates that you can modify and use.

Sample responsibilities for this position include:

Strategic Planning Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Strategic Planning

List any licenses or certifications required by the position: PMI, PMP, APICS, VLSS, IIBA, SPHR, MBA, FCCN, FCCM, SWPP

Education for Strategic Planning

Typically a job would require a certain level of education.

Employers hiring for the strategic planning job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Business, MBA, Engineering, Finance, Public Administration, Education, Economics, Business/Administration, Marketing, Management

Skills for Strategic Planning

Desired skills for strategic planning include:

Desired experience for strategic planning includes:

Strategic Planning Examples

• Microsoft Word (.docx) .DOCX
• PDF Document (.pdf) .PDF
• Image File (.png) .PNG
• Partner with global leaders of Creative intelligence and Business Intelligence to drive agency innovation and support client businesses in North America
• Support raw data file manipulation and upload for internal processing for monthly and annual business processes
• Oversee the development of long-range IT plans, with processes for regularly updating to reflect changing technology and business-related developments
• Lead strategic projects aiming to re-design business processes, performance improvement, achieve productivities and accomplish long-term local and regional objectives and budget targets
• Own an assigned business project and deliver the final product to management at the conclusion of the internship
• Assist the Manager of Strategic Planning with ad hoc business analysis in supporting the CNBU decision-making processes
• Identify and solve complex business problems using quantitative and qualitative analysis of data
• Organization's operational effectiveness, capacity utilization
• Provide analytical support for investment platform initiatives including projects associated with closed end funds, share class offerings, fee analysis/negotiations, new product structures
• Work across different teams and with all levels of management
• Previous management consulting, strategic planning and/or strategy development expertise is strongly preferred
• 2 years of experience in advertising sales industry required
• Mastering of KO’s “way of strategic planning”
• 1+ year’s media experience (or related field)
• Media math knowledge a plus
• Ability to manage multiple tasks in a busy environment
• Plan and conduct in-depth and often multi-variant analyses on a variety of complex business projects/issues
• Evaluate and interpret financial and other information and relate it to broader business implications
• Based on the strategic and business implications that emerge from analysis, lead the development and preparation of presentations on analysis and findings
• Provides senior level facilitation, consultative and decision-making support to executive management on strategic plans, locally-led business development, and M&A activity
• Leverages complex decision support systems such as productivity, financial, market and other comparative databases to assist executive management in evaluating future business development & M&A activity
• Identify business drivers to accelerate growth
• Master’s in Business Administration degree
• Support consumer & market research for new and current projects
• Support strategic planning presentations
• Mentor and develop Creative Intelligence group of 10 strategists – manage their work, revenue and expenses, and capacity
• Strong Chinese and English communication skills in both verbal and written forms
• Japanese language skill are a requirement
• Experience with bank products
• Ability to work well both independently in a multi-disciplinary role and as part of a team to achieve results
• Interest in entrepreneurial and intrapreneurial activities (i.e., helping to build a new team within the context of a large enterprise)
• Curious, good sense of humor, humble
• Overall ‘owner’ of the consolidated Gas Business Enablement roadmap
• Review the current work procedures and suggest SOPs with business flow charts
• Working with the Vice President, TS&I, develop and gain consensus around corporate-wide technology strategies designed to support corporate-wide business strategies
• Oversee and execute the Corporation’s University Engagement strategy by developing and maintaining Master Research Agreements, aligning CETO activities with University Talent Acquisition for targeted recruitment, develop and oversee a Faculty Exchange program, and interact and coordinate with University Executive Champions and Technical Liaisons from across the Business Areas to ensure University S&T projects are aligned with the Corporation’s technology strategy
• Insightful and sustainable Business Solutions to drive profitable charge volume growth
• Developing & implementing different business projects to drive profitable charge volume/revenue growth
• Propose, develop and deliver innovative strategic approaches for all New York clients
• Track industry trends to ensure competitiveness of DeVries’ recommendations
• Develop and maintain a strong network of vendors, influencers, trend leaders and contacts to proactively support innovation and creative development in the digital space
• Lead development and production of all digital products (web, mobile, apps)
• Strong business acumen with broad knowledge of market relationships and forces Industry understanding
• Advanced expertise in Excel a plus
• Demonstrated history in delivering high quality research and analysis
• The ideal intern would be passionate about advertising and interested in pursuing planning as a future career choice
• Must have an interest in marketing and be pop culture and social media savvy
• An aptitude and appreciation for the creative product
• Communicating effectively with people at all levels
• Maintain data sources to analyze energy demand, supply and competitive forces that impact short and long term revenue and throughput
• Participate in performing capacity analysis studies, and develop and maintain the system computational flow model
• Analyzes infrastructure technology strategic plans to help identify duplications, overlaps, shortcomings, options for improvement, innovation
• Administrative Develop and maintain Department's infrastructure
• Support senior executives (Sr
• Support the identification and evaluation of "whitespace" opportunities and corporate initiatives
• Provides independent project support for highly complex corporate projects touching multiple system areas with widely varying scope
• Knowledge of Modular Mining, XERAS financial modeling, Vulcan mine planning, and COMET optimization software systems
• Lead the engagement with the Regulatory department to ensure alignment between the roadmap and regulatory recovery, delivering on regulatory promises and performance against any regulatory incentives
• Comfortable with numbers and skilled in presenting quantitative results in compelling ways
• Works collaboratively and proactively on multi-functional teams
• Design and Keynote skills a plus!
• Mentoring from senior leadership to expand strategic thinking capabilities and overall agency leadership acumen
• Product creation/innovation opportunities
• High-level thought leadership potential
• Evaluating Privacy Training gaps and recommending business process improvements and documentation requirements
• Conduct a baseline assessment of the current projects and programs under implementation by different sectors at the authority
• Meet with the board members of the authority to understand their strategic direction
• Develop and present a comprehensive strategy for the authority that take into account the current vision and mission of the authority and the existing projects and programs
• Coordinate and liaise with relevant national entities (Ministry of health, ministry of commerce, ministry of industry, Customs, and other relevant entities)
• Provide advice on the best approaches per international experiences and best practices
• Propose clear goals and objectives that are SMART and would enable the authority to achieve its overall strategic mission and vision
• Devise implementation and action plan with clear timeline to execute the strategic plan
• Put in place Key Performance Indicators (KPIs) to measure and monitor performance
• Create and maintain S&T relationships with DoD laboratories, the service academies through capstone projects and other events, researcher and faculty exchange programs, executive level engagements for the Corporation’s Chief Technology Officer, and ensure that all undertaken S&T projects are aligned with the Corporation’s technology strategy
• Personal brand building
• In-depth knowledge and understanding of Social Media platforms and emerging platforms (Facebook, Twitter, YouTube, Instagram, Pinterest, Snapchat, Vine) and how each platform is experienced by consumers and brand marketers
• 5-10 years of experience, including digital and social marketing and multi-channel integrated communications, with proven examples of strategies developed for well-known brands in the social media and digital space
• Expert understanding of the digital landscape including commerce and mobile
• A proven ability to manage and set client expectations, and to manage multiple tasks concurrently in a deadline-driven process
• Energetic self-starter with proven business maturity, professionalism, and thought leadership who can work independently and within a team environment

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