BUSINESS

PLANNING AND
STRATEGIES
Entrepreneurial Mind
Topic Outline

o Goals and Goal Setting o Mission Statement

o Plans & Planning o Environmental Scanning
o The Development Plan
o Swot Analysis
o Strategic Planning and Management
o Positioning the Enterprise
o The Strategic Management Process

o Vision

LETS GET STARTED

“Every successful business has a
plan and knows where it is heading
in the future. Setting a plan with
goals, target dates and a purpose
should be finalized before
embarking on a business.”
 ACTION PRINCIPLE- PLANNING

WHY IS PLANNING IMPORTANT?

UNDERSTANDING PLANNING AND IMPLEMENTING
PLANS FOR ENTREPRENEURSHIP

ENTREPRENEURSHIP REQUIRES ACTION

PLANNING AND IMPLEMENTING PLANS

PLANNING IMPLEMENTING PLANS

(PERSONAL INITIATIVE)
o Goal Setting
o Development Plan o Being Self-starting
o Being Pro-active
o Being Persistent
GOALS
o are your measurable end results and starting point for
actions

o goals stimulate strategic planning

To achieve the goal, the entrepreneur has to develop a plan

that specifies the actions he or she has to take
GOAL SETTING
 TRANSFORMING GOALS INTO
SMART GOALS

BAD FORMULATED GOALS SMART FORMULATED GOALS

INTRODUCE COMPETITIVE PRICES FOR
NEW MARKETING STRATEGY PRODUCTS WITHIN NEXT 6 MONTHS THAT
ARE 10% BELOW CURRENT PRICES.

INCREASE MARKET SHARE FROM 10% TO

PERFORM BETTER THAN
20% WITHING NEXT TWO YEARS
COMPETITORS

INCREASE CUSTOMER SATISFACTION

IMPROVE MY BUSINESS RATES FROM 75 TO 90% WITHIN 12
MONTHS
THE PRINCIPLES OF SET GOALS THAT ARE

ACTION IN GOAL SMART

simple, measurable, achievable, realistic,
SETTING and time-bound)

BE COMMITTED TO
SET YOURSELF GOALS! YOUR GOALS
oif necessary change plans, but be
set short - (when the business is starting), mid
stable, on your goals (business may
(after a few months into the business), and long
chnage but not goals)
term (after at least a year for small businessess)
goals.

PRIORITIZE YOUR
GOALS
Focus on the most important golas
THE DEVELOPMENT PLAN

NEXT STEP FOR LAUNCHING THE BUSINESS:

A "TO DO " - List the tasks and goals that have to be accomplished to get the
business up and running

A schedule for the next weeks that highlights the steps and milestones in
the process of getting the business up and running
 RELEVANCY OF THE DEVELOPMENT PLAN
HELPS PLANNING YOUR NEXT STEPS

Helps getting an idea of where you

are and where you are going to be
with your company in the following
weeks and months.

Includes the most

important milestones for
set up of the business

Can also include the steps and

milestones you have accomplished so
far to provide a history of your
achievements for the business.
EXAMPLE OF DEVELOPMENT PLAN
THE DEVELOPMENT PLAN -
DEVELOPING MILESTONES

APPROACHING POTENTIAL CAPITAL

DEVELOPING AN OPERATIONS PLAN PROVIDERS

PRODUCING THE PRODUCT / SERVICE CALCULATING THE COSTS FOR THE

OR DEVELOPMENT OF A MODEL PRODUCT / SERVICE

ASSEMBLING MATERIAL, FACILITIES,

APPROACHING POTENTIAL
AND EQUIPMENT
CUSTOMERS

DEVELOPING A MARKETING
TESTING THE PRODUCT / SERVICE OR MODEL STRATEGY (PRICE, PLACE,
PROMOTION, PACKAGING
POSSIBLE LONG TERM
GOALS
Product performance goals (product quality,
customer service)

Financial performance goals (survival, growth in profit, revenues)

Market share goals

Reducing production costs

A stronger brand (being recognized and remembered better by target group)

Wider geographic coverage, Higher CU satisfaction

AN EXAMPLE OF LONG-TERM GOAL PLAN
ACHIEVING YOUR GOALS
THE ROLE OF GOOD ACTION PLANS
AS AN ENTREPRENEUR YOU MUST
INFLUENCE, CONVINCE, INSPIRE,
AND MOTIVATE THE BUSINESS
STAKEHOLDERS!
To Make Your Envisioned Business
Come True You Have To Get
Resources Such As Equipment,
Finance, Partners, Employees Etc.

So You Need To Carry Along And Win

The Hearts And Minds Of Other
People To Support Your Envisioned
Business!
 VISION
Idea That Reflects Shared Values To Which One
Should Aspire

Ideal And Unique Image Of The Future

A Positive, General, And Emotionally Laden Idea

Related To Strong Values

thus, a vision is a projected mental image of the products,

services, and organization you as a business leader aspires to /
wants to achieve.
PRINCIPLES OF ACTION FOR FORMULATING A VISION

THE VISION OF YOUR BUSINESS SHOULD:

• be brief and clear (about 7 words)

• be challenging and future oriented
• be imaginable
• be desirable and have the ability to inspire
• stress values that are important for the receiver
• depict a positive and general / abstract image of the projected product, service
and/or organization
• can stress differences to your competitors
• make the eyes of your receivers sparkle
The Following Are The Main Questions Your Business’s Vision Can Deal
With:

What do you want to achieve with your product, service or organization?

What do you offer and what is special about your product or service?

What makes your product, service or organization superior to your competitors?

 WE STRIVE TO CREATE LOCAL
OPPORTUNITY, GROWTH, AND IMPACT IN
CREATE ECONOMIC OPPORTUNITY
EVERY COUNTRY AROUND THE WORLD.
FOR EVERY MEMBER OF THE
GLOBAL WORKFORCE.

TO BE ALWAYS THE DESIRED PLACE FOR GREAT

COFFEE BEVERAGES AND DELICIOUS
COMPLEMENTARY DOUGHNUTS & BAKERY
PRODUCTS TO ENJOY WITH FAMILY AND FRIENDS.
THE MISSION STATEMENT
THE COCA-COLA MISSION
 STRATEGIC MANAGEMENT
• determine a direction for your business to survive and grow in the
environment.

• monitor the environment: what type of competitors / customers /

suppliers / employees are out there?

• implementing the strategy

• get a competitive advantage

at the heart of strategic management is the

identification of how your business compares with
competitors and recognizing the opportunities and
threats it faces, whether they come from within the
organization or from competitors.
SWOT ANALYSIS
SWOT ANALYSIS
SWOT ANALYSIS
SWOT ANALYSIS
SWOT ANALYSIS
AN EXAMPLE OF SWOT ANALYSIS FOR A PAPER CUP FACTORY
POSITIONING THE FIRM: Possible Strategies
Differentiation – means that the firm offers the same product or service that already exists in the
market(e.g., a cell phone) but with different properties. The different or additional properties offer a
better performance or more benefits for the customer.

Low Cost - The strategy of low cost or cost leadership is straightforward. A firm pursuing this
strategy aims at offering the same product with the same quality at a lower price.

Niche - Whereas differentiation deals with existing markets, the niche strategy implies that the
business owner creates a new market. He or she is the only one offering this special product or
service. A niche may take several forms. For example, a niche can be a particular target market
(e.g., offering wedding services for couples getting married a second time), a particular product that
is completely new (e.g., the cell phone twenty years ago), cooperations (e.g., code sharing flights in
the airline industry), and speed (e.g., broadband internet access).
PRODUCT ATTRIBUTE MAP
OPERATIONS PLAN
THE OPERATIONS PLAN
THE OPERATIONS PLAN
THE OPERATIONS PLAN
THE OPERATIONS PLAN
THE OPERATIONS PLAN
THE OPERATIONS PLAN
DEFINITION OF TERMS