What is Enterprise Development?

The concept of enterprise development lies in investing knowledge and time, attracting investment, building
business linkages, employing more people for an enterprise to compete in the global economy. It encompasses the process of improving a company’s
image and increasing the capital by bringing more value to the customers. The main intention of the enterprise development process is leading to
positive societal change through stimulating economic activity Such an approach is especially beneficial for small and medium-sized suppliers as it
enables them to improve their sustainability through gaining experience in transnational cooperation, the ability to get larger deals, and is relatively
inexpensive. IT industry plays an important role in building an enterprise that aims at effective management of all the inner processes and successful
partnerships. With the use of cutting-edge technologies, enterprises become able to simplify all core business processes, boost communication
efficiency, and solve critical workflow challenges. An example is the Enterprise Resource Planning system also called the enterprise system.

How do Enterprise Systems Work? Enterprise systems are large development solutions capable of tracking and controlling all of a company's
complicated activities. Integrated systems serve as a central command hub, helping to automate the company and simplify monitoring as well as
decision-making. The strategy, culture, and organization of a corporation are all influenced by the logic of an enterprise system. To simplify, not long ago
organizations used to collect the data from different information systems to meet the needs of different business functions (manufacturing, marketing,
sales, etc). It’s easy to understand how much time and effort it required. Nowadays, all these separate information systems can be replaced with a single
system that integrates all key business processes.

Why Is Enterprise Resource Planning Important for Businesses? ERP systems increasingly become a must-have for companies that want to make
the most use of their resources. They can assist executives in reallocating human and financial resources, as well as in developing more effective core
business processes that save money without losing performance and effectiveness. When it comes to planning and coordination, an ERP is also
beneficial. Workers may access detailed information about current inventory and client orders, as well as supplier purchase orders and predicted future
requirements. They can make modifications if required to avoid complications. Employees may check on the state of other departments to inform their
own decisions, which increases cooperation and interaction.

Benefits of Enterprise Resource Planning systems

Real-time Information and Data All the departments and managers across the enterprise get access to the uniform flow of information. Up-to-date and
precise data enables them to make better business decisions and discuss critical issues quickly.

Reduction of Operation Costs Investing resources into one centralized system, you don’t need to spend money on licenses, infrastructure, or staff of
the different systems. You only concentrate on one powerful ERP system that significantly reduces your labor and operating costs.

Full Customization Most frequently when you address a software company, it offers you a few applications that can be put into action together to
achieve your business needs. At the same time, each application can stand alone. This way you are able to choose which components work best for
your enterprise.

Improvement of Customer Service Having all the client information centralized, your team gets an opportunity to focus on customer retention and
maintenance.

Enhanced Reporting and Planning With ERP solution you get a unified reporting system applicable for every process in a company. This helps to
generate and analyze reports at any time and department.

The investment into such systems gives you a long-term opportunity to boost productivity and control every single process in your organization making
the process of enterprise development smoother and less risky.

What is Enterprise Planning?

Enterprise planning is defined as the process of setting company policies, processes, and budget requirements that aim to meet the set
objectives and goals of the larger strategic plan of the company . It takes into consideration all internal and external factors that affect or can
potentially affect the business. Enterprise planning is typically done for a financial year with annual revisions to accommodate the needs of the
next business calendar. It is a management-level process by which the company’s leadership comes together, often led by the chief executive
officer (CEO), to lay out the execution plan for the strategic vision of the company. This includes:
– Budgeting for human resources, technologies, and infrastructure.

– Balance sheet management including debt, profit margins, and product pricing.

– Setting the policies and frameworks taking into account laws and legal factors.

– Setting the processes to enable team collaboration to execute the enterprise plan.

– Ensuring teams are enabled with the right tools to do their jobs.

Benefits of Enterprise Planning While enterprise planning is a critical tool for large businesses, the process allows any company or even non-
profit to take advantage of its benefits of application. Here are some of the key benefits that make enterprise planning so important for any
organization:

 Adds to management confidence in achieving the strategic goals A properly thought-through enterprise plan leads to increased
confidence in the management’s ability to execute the strategic plan of the company, which means the ability to achieve its core
objectives. Without a thoroughly laid out plan, the strategic vision for the company is just words. It is the enterprise plan that maps the
strategic goals down to the execution which will lead to the accomplishment of the goal.

 Improves employee-leadership relations Employees are encouraged by transparency, inclusiveness, and the ability to understand
the larger vision of what the company is trying to achieve. An enterprise plan takes its vision and lays it out as targets and
collaborative goals among the wider teams. This way, employees have clarity on what they are doing and the expected outcome of
their efforts. Such a plan is also egalitarian, since all employees, including the management, are bound by the same goals, plan, and
rules.

 Builds a strong foundation for roadmaps Roadmaps, be it for customer experience, product development, marketing, or any
department/ team- are highly dependent on the underlying company structures and frameworks. For example, if an enterprise plan
accurately lays out the chain-of-command for product development and how product managers can executive (executive?) whilst
working with other teams for design, content, UI/UX, etc., then the product managers can accurately and confidently lay out a product
roadmap. Without the supporting foundation brought about by the policies and protocols of the enterprise plan, teams may often run
into conflicts with each other, have issues with technologies that are to be approved for purchase, make recruitments without going
through proper approvals etc.

 Sets structured enterprise processes A structured enterprise process is one that takes into account the various issues and
challenges that may arise when employees and teams are working with each other, planning to add team members, purchasing
technologies, prioritizing the right tasks, etc. In other words, an enterprise plan needs to set processes that make communication and
delivery easier for employees with minimal roadblocks to deal with on the go. For example, if it is laid out in the enterprise plan as to
how the design team should prioritize and process requests coming from multiple teams, it becomes a lot easier to make decisions
without conflicts and deliver outcomes faster- for all teams involved.

 Enables calibrated delegation of authority An enterprise plan helps define roles and their scope as clearly as possible to ensure
minimal role conflicts and overlaps while allowing for ample room to collaborate and work together. Delegation of authority needs to be
such that it reflects the general hierarchy in the enterprise plan while defining processes on how to make changes and additions.
Authority delegation can be laid out quite precisely at a higher level, but as we move down the ladder, this delegation is much more
dynamic in a given financial year. An employee who has performed better in the previous months may get added responsibilities and
authority without waiting for the annual promotion cycle. How such delegations are to be worked into the larger org chart, access
controls, team clarity on updated roles and how it affects their work etc. need to be laid out in the processes derived from the
enterprise plan.

 Minimizes siloed operations As teams get larger, one of the biggest issues to teamwork is siloed operations, in other words, a lack of
communication and proper collaboration. There may be tasks assigned that are outdated and do not reflect recent updates, there may
even be tasks on employees that no longer need to be done or are simply not a priority. These issues arise when employees are
working in their own small silos, disconnected from relevant updates and information. An enterprise plan that trickles down with the
team tasks being in turn tied to the larger team goals ensures that employees do not feel siloed off, especially in remote working
environments.

Enterprise Planning Process: 5 Key Steps

Here are the 5 key steps to create an enterprise plan:

1. Create a strategic plan for the business An enterprise plan is a working plan that is derived from the larger strategic plan of the company. A
strategic plan, unlike the enterprise plan, is the overarching goals and objectives of the company. Enterprise planning is the next step that
seems to frame the policies, processes, and protocols to achieve the strategic plan. For example, if one of the strategic objectives is to grow
profit by 10% annually for the next 3 years, then the annual enterprise plan must derive exactly how much more sales and upselling would need
to be done, how marketing demand generation will operate to supply ample sales-ready leads and so on.
2. Invest in market research for external factors For medium-to-large scale businesses, investment in market research to fuel the enterprise
plan may be a worthy and dependable decision. Market research may be primary or secondary, depending on budget. Such a report will ensure
that when judging external factors and their impact, management decisions in the enterprise plan were soundly based on data and not simply
daily news and speculation. The PESTEL method is a great guideline for doing research on external factors that are abbreviated in the term
itself – political, economic, social, technological, environmental and legal.

3. Analyze internal factors Depending on the size of the business, the management can use several tools to assess internal factors such as
OKRs (for team performance evaluation and management), SWOT Analysis for identifying strengths, weaknesses, opportunities, and internal
threats (such as weak cyber security protocols), BCG matrix for product/ vertical prioritization, cost-benefit analysis for new purchases and
investments, etc. This is a methodical approach to understanding challenges, assessing internal issues, and coming up with the right type of
solutions. The results from these models should provide ample information about the internal state of the business and enable the leadership
team to make data-backed decisions.

4. Formulate the final enterprise plan Once all internal and external factors have been taken into account, the enterprise plan must be
formulated to include solid processes, guidelines, protocols, technologies, and governance. This final document will be the framework based on
how a product or service will be developed, managed, sold, and serviced to meet financial objectives. Furthermore, the enterprise plan must
entail HR policy guidelines that should help me employee targets on retention and satisfaction.

5. Re-evaluate based on feedback In an enterprise plan, there are larger company goals and then there are individual team targets and metrics
that help meet the larger goals. The teams need to know what the larger goal is and what their team goals are, not necessarily the entire
company’s targets and metrics. These team targets must be discussed with the team leaders and employees to whom they are concerned,
before sealing them. This must take place in a time-bound manner such that there is ample room to re-evaluate and make adjustments if that is
the decision.