How to Answer: Tell me about your experience with annual planning processes.
Advice and answer examples written specifically for a Financial Analyst job interview.
31. Tell me about your experience with annual planning processes.
What You Need to Know
As the saying goes, annual planning is a process, not an event. So your interviewer wants to know how proactive you are in reviewing the data, fine-tuning your research, and adapting your plan as you move through the year. This is especially important as the business's goals and objectives change. Develop a concise and detailed breakdown of your approach. You want to look skilled, confident, and knowledgeable like a professional talking shop.
Written by Kevin Downey on August 2nd, 2023
Experienced Example
"I was hired last year by a local software startup to create an annual corporate plan. The plan helped them define their scope, which in turn, gave them a better perspective on what customers they should be targeting. My goal was to help them increase their profitability. The only way to do this is to have strong attention to detail and keep the plan flexible. Don't just make the plan and forget about it. Do that, and you set yourself up for failure, right? Over the next year, their sales increased by 120%. I consider the past 12 months of market changes, use market predictors, examine what business characteristics gave them an edge over competitors, any potential threats to the business, the strengths/weaknesses of the business, as well as a SMART (specific, measurable, attainable, realistic, time-driven) objective. I also pay attention to where competitors are innovating and successful and watch and learn and improve. Leave nothing on the table."
Written by Kevin Downey on August 2nd, 2023