At the end of the year, a thorough review of the plan and its process should be discussed with the team in order to make the next planning cycle more effective and efficient. Take a look at all of the successful initiatives and the ones that fell short in order to identify where the broken pipes occurred in the process.
Next, I would develop a capital plan identifying dollars to be spent on the business to increase its overall value. While all capital dollars may not entirely be discretionary - i.e., investing dollars for anticipated return from growth - it is necessary to determine how capital dollars will be allocated whether for discretionary purposes or general maintenance. Projects that require capital are critical for the company growth and must be managed to their desired return, avoiding shortfalls in ROI or issues involving capital creep.