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Leadership and Management
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 a combination of theoretical learning and practical exercises, 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:
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Explain the importance of a well thought-out business plan for the success of the organization.
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Describe the structure of a business plan and how it caters to market and organizational needs.
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Apply the business plan development process to create a well-structured, convincing business plan covering all vital elements.
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Develop a business plan that includes a detailed, practical and effective implementation strategy.
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Evaluate the progress of the implementation of the business plan and take necessary corrective steps.
Targeted Audience:
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Department heads.
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Senior managers.
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Managers and supervisors.
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Project managers, Sales managers, and Marketing managers.
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Team leaders.
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Entrepreneurs who would like to develop their business planning skills.
Program Outlines:
Unit 1:
Understanding the business plan:
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Definition of a business plan.
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Types of business plans.
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Benefits of a business plan.
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Key components of a comprehensive business plan.
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The role of a business plan in strategic decision-making.
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Common challenges in developing and implementing a business plan.
Unit 2:
Business plan overview:
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Components of a business plan.
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The process behind the business plan.
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The importance of the business plan to a firm’s value chain.
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Securing the buy-in from stakeholders.
Unit 3:
Developing the business plan:
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Mapping vision, mission and values.
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Conducting a situation analysis.
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Setting goals, objectives, and business strategies.
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Developing tactics, programs and action plans.
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Forecasting, pricing and applying breakeven analysis.
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Sourcing, allocating and scheduling, Creating appendices and references.
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Understanding basic financial concepts: income statement, balance sheet, Cash-flow analysis and Program Budgets.
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Writing the executive summary.
Unit4:
Implementing the business plan:
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The communication phase: Job assignments, Reporting structure, and Knowledge base.
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The controlling phase: Dealing with deviations, Causes analysis, Providing constructive feedback and Corrective actions and adjustments.
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The corrections phase:
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Goal revisions and expectations, Scheduling challenges.
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Budget adjustments and additional financial support requests, Resources demands and constraints.
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Staying away from common business plan mistakes.
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Concluding the business plan.
Unit 5:
Reporting on the progress of the business plan:
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Analyzing and differentiating types of progress reports ( status updates, financial summaries, milestone achievements).
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Identifying and categorizing key recipients of each report (stakeholders, executives, department heads).
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Determining the specific information required in each report to meet strategic and operational needs.
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Evaluating the quality and accuracy of data presented in the reports to ensure decision-making efficacy.
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Establishing the appropriate frequency for report distribution based on project timelines and business needs.