Business planning in the Thomas Cook Group

Abstract

Following the acquisition of the Thomas Cook Group by Midland Bank in 1972, more systematic budgeting and financial planning was established as an important priority. The medium- to long-term planning function of the Group was strengthened in 1978, and the author argues that substantial progress in this area has been achieved. The methods and procedures employed in the Group's planning are detailed, and the relationships between the planning function and both the requirements of the business and the nature of the industry are emphasised.