What are the challenges in keeping business plans updated?
Despite the benefits, there are challenges in keeping business plans updated. These include:
- Time Constraints: Regular updates require time and effort, which can be a challenge for busy teams. - Data Accuracy: Ensuring the accuracy of data used in updates can be difficult. - Resistance to Change: Team members may resist changes to the plan, leading to delays in implementation. - Cost: The resources required for frequent updates might be a financial burden for smaller businesses.