Strategic planning in the Thomas Cook group

Until Midland Bank took control of Thomas Cook in 1972 there were only rudimentary accounts in the Group and no systematic attempt to budget its operations. An immediate priority was to establish an effective finance function and the first planning activities of the Group were centred in this area. At the beginning of the annual planning cycle a Group Strategic Conference at Board level and a Group Planning Conference determine strategies and many territories follow this latter meeting with their own regional conference to discuss Plans, which are finalized and consolidated by computer into the Group Plan, to be ready for the start of the financial year.