Professional Documents
Culture Documents
Creative
Expertise Thinking Culture:
Skills teamwork,
Innovation interdisciplinary
problem-solving,
Intrinsic incentives:
exploration, play,
and empowerment
Motivation
Wagner, 2012
A document that summarizes the functional objectives of a
business and showing how the objectives are to be realized.
Business Plan is a written description of the future of
business.
It is about the ways of achieving results
◦ Future oriented (business to look further)
◦ Focus (directed to main points)
◦ Resource allocation (optimalization of resources)
A business plan should cover all the important matters in
business decisions;
basic business concept
strategy and the specific action
products and services
target markets
management team
financing.
Focus on Value:
• A Linkage between Business Plan and Strategic Plan
Strategic alignment
Functional areas
Goals oriented
Resource allocations
Economic rationality
Scarcity
Approach
Proactive Vs reactive
Business opportunity Vs “idealism”
Managing expectation
◦ Maximum Vs optimal return
◦ Growth
◦ Sustainability
Managing uncertainty
◦ Success or failure rate and probability
◦ Picking “the harvest”
Risk factors
◦ Financial risk
◦ Business risk
◦ Operational risk
Competition Cost structure
Distribution Employees
Financing Industry cyclicality
Interdependence
Industry maturity
Natural catastrophes
Management
Profitability
Production Suppliers
Regulatory
environment
Technology
Service/Employee Value
•Employee know-how and competence
•Customer orientation of employee
•Quality of service delivery process
Value propositions: drivers and dimensions
Product Value
• Product quality
• Price
• Product selection and customization
• Time savings
Value propositions: drivers and dimensions
Social Value
• Similar educational, intellectual level
Relationshiop Value
• Similar demographic profile, ethnic
• Trust and confidence
•Exclusiveness of customer segment
• Sympathy and friendship
• Personal Characteristics: honesty,
openess
•Reduced anxiety
The marketing plan
◦ Market Segment
◦ Target market
◦ Positioning
The financial management plan
◦ Source of funds
◦ Cash Flows
The management plan
◦ Ownership
◦ Operations
Identify the need to our proposed business fulfills
Clearly describe how it fulfills this need
Recognize how the business is unique
Name key stakeholders
Know the size of the target market
Know who make up the target market
Elaborate marketing communications
Breakdown revenue streams
Finding source of funds
Managing the cashflow for business sustainability