Benjamin Franklin, one of the leading figures of early American history, once said, "If you fail to plan, you are planning to fail". This famous quote applies to all of us as individuals but it is also applicable to businesses.

• List and explain the six steps that an organization undertakes to develop its financial plan.
• Discuss how having a solid written plan helps to move the business closer to its financial goals.
• To conclude your discussion post, explain what might be the outcome if an organization fails to develop a financial plan. Do you agree with the famous quote once stated by Benjamin Franklin? Why or why not?