March 1, 2005

Time Pressures COuld Be Holding Back Businesses

90% of businesses surveyed spend less than two hours a week on business planning. British businesses are missing the potential to improve productivity gains because time pressures mean planning takes a back seat, according to research from DTIs Achieving best practice in your business and Management Today.

Nearly 95% of business managers and directors surveyed recognise that investing more time in day-today planning would improve overall business performance. However, 90% of businesses admitted to spending less than two hours each week on business planning with almost a quarter saying they simply don't have enough time in the week to plan properly.

The vast majority of the businesses surveyed (84%) are worried that they are not able to spend enough of their time planning to improve their business in a more proactive way.

Of the managers surveyed:
· 60% plan for their business whilst travelling to work
· 40% plan late at night
· 30% plan at weekends
· 25% plan for their business either on holiday or during gym /leisure activities

Ideas for business management, a publication from DTI's Achieving best practice in your business, looks at the key characteristics in successful business management, including strategy, leadership, and growth. This can be accessed via DTI's best business practice

David
Small Business Resource

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