STEPS IN BUSINESS

PLANNING

PREPARED BY: RUBY MAE V. BINOY

THE FOUR QUESTIONS OF
THE BUSINESS PLAN
WHAT TO DO?

HOW TO DO IT?

WHEN TO DO IT?

WHAT TO EXPECT?
THE IMPORTANCE OF
BUSINESS PLANNING
 PLANNING CAN
ELIMINATE BUSINESS
RISK

By this employees get aware

of how the work is to be done
by getting the necessary
directions for achieving the
objectives.
PLANNING CAN MINIMIZE
COSTS OF PRODUCTION

 5 Effective Ways to Reduce Your Manufacturing

Costs:

1. Cut Your Material Costs.

2. Gain Control of Your Inventory & Purchases.
3. Optimize Your Employee Performance.
4. Automate Your Manual Processes.
5. Negotiate with Your Suppliers.

PLANNING CAN
DETECT THE
WEAKNESSES OF
THE BUSINESS
OPERATIONS
 Common Weaknesses of a Business
To Avoid:
The Plan is Poorly Written.
Incomplete Business Plan.
General Assumptions In A Business Plan.
Sticking to the plan.
Don't Let Your Business Plan be Boring.
Being too Optimistic When Measuring Your Market Size.
Not Having the Confidence to Sell Your Service or Product.
Being Inconsistent.
Considering too many perspectives.
Being unable to acknowledge the competition.
Not getting professional help.
SOME RULES TO OBSERVE
1. MAKE IT NEAT.
2. MAKE IT GRAMMATICALLY CORRECT.
3. MAKE IT HONEST.
4. WRITE IN LAYMAN'S LANGUAGE.
5. DO NOT OVER EMPHASIZE YOUR PRODUCT OF YOUR
BUSINESS.
MUST FOR BUSINESS PLAN AND
FEASIBILITY STUDY
DIFFERENCE BETWEEN FEASIBILITY STUDY AND
BUSINESS PLAN
A feasibility is NOT a business plan.
Feasibility study provides an investigating function
" is this viable?".
Business plan provides a planning functions. The business plan
outlines the actions needed to take the proposal from "idea" to
"reality".
Often feasibility studies identify more than once alternative to
the proposed idea.
The feasibility study is prepared "before" the business plan.
 PLANNING AND
ORGANIZING THE
ENTERPRISE
 Utilizing logical, systematic
and orderly procedures to
meet objectives. Those who
are skilled at this competency
can visualize the steps needed
to reach a goal and naturally
organize the process,
modifying as necessary.