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PS-7 - Developing and Implementing the Business Plan

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While business plans serve start-ups and businesses seeking investments and financing, they offer businesses an excellent approach to formalize business goals, and outline the operational and financial strategies to meeting those goals. Business plans are excellent tools for communicating new business ideas and initiatives, and getting different people to work together on setting out sales forecasts and growth strategies, and developing marketing and sales plans. In addition, business plans provide valuable financial analysis and projections that can help in deciding the viability of new ideas and initiatives.

Course Methodology

This course is highly interactive. From the outset participants find themselves engaged in identifying business initiatives or opportunities, within their company or on their own, and subsequently embark on developing the required business plan. This course operates more like a workshop where teams are formed, roles are defined and every member contributes to the formation of the business plan. Besides the business planning principles that participants obtain throughout the course, teams will be provided with necessary tools, including notebooks or tablets, to conduct research, market analysis, business analysis and scenarios, forecasting, and financial analysis. Teams will subsequently translate their efforts into a business action plan that they can share with participants, and their colleagues and superiors at work.

Course Objectives

By the end of the course, participants will be able to:
  • Explain the critical importance of a well thought out business plan for the success of the organization
  • Formulate vision and mission statements to support the business plan
  • Describe effectively the business idea or initiative and how it caters to market needs
  • Apply 'SWOT' and gap analysis to develop market situation analysis and identify relevant strengths and weaknesses
  • Outline the most appropriate goals, objectives and strategies critical for the success of the business plan
  • Describe the desired product or service in a compelling and convincing way
  • Construct robust and relevant marketing and sales strategies that support the product's entry to market
  • Forecast potential product or service performance and produce required financial projections
  • Choose and implement tactics and courses designed to maximize operational success
  • Develop a practical plan that will enable management to monitor and control the progress of the organization

Course Outline

Understanding the need for a business plan

  • Definition and benefits of a business plan
  • Types of business plans and value chain analysis
  • Core ingredients of a business plan

The executive summary (comes last not first)

  • The vision and mission statement
  • Business idea or Initiative information and growth highlights
  • Overview of products or services and summary of future plans

Business idea or Initiative description

  • Description of business idea or initiative and market needs
  • How are the products or services meeting such needs?
  • Who will this product or service serve?
  • Competitive advantages and business or initiative success

Market situation analysis

  • Industry description and outlook
    • Macro-economic environment
    • Industry specific environment
  • Understanding target market (market or customer segmentation)
    • Distinguishing characteristics of target market
    • Size of the primary target market and market share potential
  • Pricing and gross margin targets
    • Pricing and price elasticity
    • Forces that shape price elasticity
  • Competitive analysis
    • Competitive market analysis (the Growth-Share matrix)
    • Strengths and weaknesses (leveraging 'SWOT')
    • Dealing with market barriers
    • Identifying direct and indirect competitors

Goals, strategies and tactics (leveraging the 'TOWS' approach)

  • Working with strategic goals and 'SMART' objectives
  • Examining and deciding against strategic alternatives, tactics, and programs

Organization, management and resources

  • Organizational structure
  • Management and resource requirements
  • Workforce scheduling and charts
  • Working with budget (principles and techniques)

Service or product line

  • Description of service or product
  • Product lifecycle
  • Intellectual properties, copyright concern, and R&D activities

Marketing and sales

  • The marketing strategy
    • Market penetration strategy
    • Growth strategy behind business idea or initiative
    • Channels of distribution strategy
    • Communication strategy
  • The sales strategy
    • Sales force strategy
    • Defining sales activities

Funding requests, budgets and financial projections

  • Determining financial needs
  • Current and future funding requirements
  • How do you intend to use the funds?
  • Financial projections
    • Historical financial data
    • Prospective financial data
      • Forecasting for growth (definitions an assumptions)
      • Popular forecasting methodologies
      • Projected financial statements (income statement, cash flow, balance sheet)
    • Break even analysis

Concluding and implementing the business plan

  • Goal tree: The business plan at a glance
  • The executive summary
  • Successful business plan implementation
    • Owning, supporting, adapting, and controlling the implementation plan
AED 13,957
US$ 3,800
Register Now

Duration: 5 Days

Intakes: Every Month

Language: English / Arabic

Who will Benefit:

Department heads, senior managers, managers and supervisors, project managers, team leaders, sales managers, marketing managers, entrepreneurs and others who would like to develop their business ideas or initiatives.

Target Competencies

  • Creative thinking and business planning
  • Collaboration and teamwork
  • Market analysis, and identifying strengths and weaknesses
  • Financial analysis, forecasting, and break-even analysis
  • Resource scheduling and budgeting