DEVELOPING AND IMPLEMENTING EFFECTIVE BUSINESS PLAN

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Why Attend

In this course participants will discover the important role business plans play in helping start-ups, as well as established organizations, business departments and divisions gain financial and organizational support behind new ideas and initiatives.

The course introduces a pragmatic, process-based approach to help participants identify strategic goals, and outlines the operational and financial strategies needed to achieve them. Furthermore, the course expands on how to use the business plan as a reliable and persuasive communication and alignment tool; this is critical when people need to collaborate on aspects of the business plan such as vision, mission, market analysis, sales forecast, growth strategy and implementation plans.

A well written business plan should provide decision makers with enough insights to assist them in deciding the viability and feasibility of new ideas and initiatives. This course is designed with this end in mind.

Event Date: 08/09/2022 – 10/09/2022

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Overview
Course Outline

Understanding the business plan
- Definition of a business plan
- Types of business plans
- Benefits of a business plan
Business plan overview
- Components of a business plan
- The process behind the business plan
- The importance of the business plan to a firm’s value chain
- Securing the buy-in from stakeholders
Developing the business plan
- Mapping vision, mission and values
- Conducting a situation analysis
- Setting goals, objectives, and business strategies
- Developing tactics, programs and action plans
- Forecasting, pricing and applying breakeven analysis
- Sourcing, allocating and scheduling
- Understanding basic financial concepts
  - The income statement
  - The balance sheet
  - Cash-flow analysis
  - Program Budgets
- Writing the executive summary
- Creating appendices and references
Implementing the business plan
- The communication phase
  - Job assignments
  - Reporting structure
  - Knowledge base
- The controlling phase
  - Dealing with deviations
  - Causes analysis
  - Providing constructive feedback
  - Corrective actions and adjustments
- The corrections phase
  - Goal revisions and expectations
  - Scheduling challenges
  - Budget adjustments and additional financial support requests
  - Resources demands and constraints
- Staying away from common business plan mistakes
- Concluding the business plan
Reporting on the progress of the business plan
- Understanding the different types of business plan reporting
- Deciding who needs to know
- Agreeing on what needs to be reported
- Maintaining quality in reporting
- Setting the frequency of reporting