Business Planning: Practical Strategies for Organizational Success

Introduction

Business planning provides the means by which successful staff develop and implement strategies and action plans that achieve the goals and Course Outcomes of their enterprise. Effective business planning links the enterprise’s internal capability with the opportunities and threats it faces in a continuously changing environment.

This course provides a practical framework and a set of techniques for developing, communicating and implementing business plans. The application of this framework will result in business plans that focus on achieving breakthrough improvements in business performance.

The course also covers a number of practical strategies that can be applied to products, services, people and processes.

Objectives

By the end of this course participants will be able to:

• Understand the core elements of a business plan
• Apply an effective business planning model and process
• Develop a clear strategic vision
• Identify and analyze external and internal influencers
• Use scenario planning and business forecasting
• Set goals and Course Outcomes
• Develop practical strategies for markets, people and processes
• Document and communicate the business action plan
• Obtain support and resources for the business plan
• Monitor business performance

Target Audience

Business unit heads, business strategists, developers of business plans, analysts and researchers supporting the development of business plans, all people required to contribute to and implement business plans

Management & Leadership Outline

The course covers the following topics:

Foundation Concepts

• The importance of business planning for organizational success
• The elements of a business plan
• A practical business planning model and process
• Organizing for business planning
• Identifying and engaging stakeholders
• Defining your focus and key success factors

Analyzing the Business

• The five strategic questions
• Gathering the right information
• Analyzing the competitive domain
• Analyzing the internal and external environment
• Identifying drivers for change
• Scenario planning and business forecasting
• Practical business analysis work

Formulating Business Strategy

• Developing a vision and mission statement
• Strategic posting and strategic options
• Competitive strategy - cost leadership versus product differentiation
• Practical product and service strategies
• Practical business process strategies
• Practical people and organization design

Implementing Business Plans - Making Change Happen

• Linking action to strategy - the action planning process
• Selecting performance measures and setting an objective
• How to write and communicate action plans that achieve results 
• Aligning products and services to meet the strategic vision
• Designing processes and allocating resources to achieve strategic Course Outcomes

Monitoring, Evaluation, and Control

• Monitoring business performance
• Maximizing opportunities and cutting losses 
• Taking corrective action
• Creative problem solving
• Analyzing success, failures, and lessons learned
• Improving your business planning process