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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:

  • 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.

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