Developing and Implementing the Business Plan

Overview:

Introduction:

This training program focuses on equipping participants with the knowledge and skills necessary to develop and implement effective business plans. Through it, participants learn to analyze market dynamics, set strategic goals, and execute plans for organizational growth.

Program Objectives:

At the end of this program, the participants will be able to:

• Explain the importance of a well thought-out business plan for the success of the organization.

• Describe the structure of a business plan and how it caters to market and organizational needs.

• Apply the business plan development process to create a well-structured, convincing business plan covering all vital elements.

• Develop a business plan that includes a detailed, practical and effective implementation strategy.

• Evaluate the progress of the implementation of the business plan and take necessary corrective steps.

Targeted Audience:

• Department heads.

• Senior managers.

• Managers and supervisors.

• Project managers, Sales managers, and Marketing managers.

• Team leaders.

• Entrepreneurs who would like to develop their business planning skills.

Program Outlines:

Unit 1:

Understanding the business plan:

• Definition of a business plan.

• Types of business plans.

• Benefits of a business plan.

• Key components of a comprehensive business plan.

• The role of a business plan in strategic decision-making.

• Common challenges in developing and implementing a business plan.

Unit 2:

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.

Unit 3:

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, Creating appendices and references.

• Understanding basic financial concepts: income statement, balance sheet, Cash-flow analysis and Program Budgets.

• Writing the executive summary.

Unit4:

Implementing the business plan:

• The communication phase: Job assignments, Reporting structure, and Knowledge base.

• The controlling phase: Dealing with deviations, Causes analysis, Providing constructive feedback and 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.

Unit 5:

Reporting on the progress of the business plan:

• Analyzing and differentiating types of progress reports ( status updates, financial summaries, milestone achievements).

• Identifying and categorizing key recipients of each report (stakeholders, executives, department heads).

• Determining the specific information required in each report to meet strategic and operational needs.

• Evaluating the quality and accuracy of data presented in the reports to ensure decision-making efficacy.

• Establishing the appropriate frequency for report distribution based on project timelines and business needs.