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.