Need to develop a business Plan.
Your Role
As an entrepreneur, this probably will be your first intended new business venture. You are driven by enthusiasm for ‘your' new business concept, the market potential for it and the fact you will have a unique set of value propositions to offer to customers.
You will need to plan ahead for this new venture, outline your business model, and then work according to your business development plan in order to achieve a successful launch in one year's time.
You now will need to apply appropriate managerial tools & concepts in order to present a business development plan to thereby make this new venture a success.
Moreover, you will need to convince assessors of the viability of your new business intentions which must be both feasible from a business perspective as well as individually desirable
THE BUSINESS DEVELOPMENT ROLE BRIEF
- Select and state the scenario you have chosen for project
- State all assumptions upon which your chosen business development scenario is based
- State the current business position to answer the question " Where are we now ? "
- Outline, using a SWOT Analysis, the potential areas for development with priorities assigned
- State the desired future position to be achieved over the next 3 years
- Explain and justify how this future position will be achieved within specified resource needs and constraints
- State the resource needs for implementation
- Outline the outcomes to be expected by key stakeholder groups
- Outline and justify The Budget to fund your proposals STEP 1 STATE YOUR TERMS OF REFERENCE
Once you are really familiar with your selected Scenario, you must be absolutely clear about the purpose you have to achieve.
This purpose should be stated in a set of terms of reference, so that the purpose is for your business development proposal is communicated clearly.
STEP 2 STATE ALL ASSUMPTIONS FOR YOUR SELECTED BUSINESS SCENARIO
Assumptions are the critical conditions which must prevail in order for your business proposals to be accepted by the company board and to be implemented.
The following matrix may be helpful to structure your assumptions.
These assumptions are not intended to be a long meaningless list (a wish list), these are intended to be ACTIONABLE assumptions. Therefore must be able to answer the question
"WHAT MUST BE IN PLACE IN ORDER FOR MY BUSINESS DEVELOPMENT PROPOSALS TO BE ACHIEVABLE FOR THE BUSINESS SCENARIO SELECTED?"
STEP 3
STATE THE CURRENT POSITION TO ANSWER THE QUESTION "WHERE ARE WE NOW?"
This is a ‘classical question' and must be answered using an environmental audit of the two environments; the External Macro Environment of the Market Place and the Internal Micro Operating Environment within the business.
The purpose is to establish FACTS so that the question " Where Are We Now ? " can be answered. STEP 4
OUTLINE, USING A SWOT ANALYSIS, THE POTENTIAL FOCUS & PRIORITIES FOR DEVELOPMENT
The conclusion from the SWOT Analysis MUST show clearly the focused Priorities for Action so that these can then be followed through in the proposed case scenario business plan.
Remember also that the identified strengths need to be both actionable and leverage able for future proposed strategy.
Weaknesses may be a focus for improvement, but these may also be constraints within which the business plan must be designed. You should distinguish between weaknesses and constraints.
However, the main focus will be upon the actionable opportunities which are presented as a statement of future ambition. It is the ability to achieve this ambition to be supported by leverage able strengths and potentially restricted by weaknesses & threats.
STEP 5
STATE THE DESIRED POSITION TO BE ACHIEVED OVER THE NEXT 3 YEARS
The future strategic intent is important so that a clear sense of purpose can be conveyed. You will need to give careful thought to the relevance of and justified content for the following: -
- A sense of Vision with a Vision Statement
- The Mission to be accomplished
- SMART Objectives
- The Core Competencies in place and required
- Shared Values to bind the Organisational Culture
- Core Markets and Market Potential (Please note that, where appropriate, reference to market research sources and findings will be expected to help to define the gap in the market to be served, the desired positioning and the future market / business potential.)
- Core Customer Groups and Customer Growth Potential
- Timescales for Achievement STEP 6
EXPLAIN AND JUSTIFY HOW THIS FUTURE POSITION WILL BE ACHIEVED WITHIN SPECIFIED RESOURCE CONSTRAINTS
You must ensure that the desired position is feasible as well as being simply desirable. Therefore the contextual reality and relevance must not lose focus.
Attention to the scale of your proposals is essential. Core strategies must be outlined for each business function (SBU) and then be allocated to a well-conceived time horizon, as specified in the business development brief.
Thought should be given to cross-functional interdependence, without which the business proposals will not be achievable.
All proposals must be justified through reference to the required resources as well as current resource constraints.
Step 6 is the essence of the business development plan. This is your creative solution to achieve a desired future for the business.
STEP 7
STATE WHAT WILL BE NEEDED FOR IMPLEMENTATION AS WELL AS THE CRITICAL FACTORS FOR SUCCESS
You will be expected to outline the needs or changes recommended to structure, process, people and technology as well as to managerial mind-sets as you deem necessary.
It is certain that your plan will hinge upon a certain critical factors for success; these too should be outlined, internally, externally and also interactively between customers and other stakeholders.
A clear statement of Resource Needs would be required. STEP 8
OUTLINE THE TANGIBLE OUTCOMES TO BE EXPECTED FOR KEY STAKEHOLDER GROUPS
Outline the key stakeholder groups who will be impacted by your plan and then state the key benefits to be enjoyed as a result of successful implementation, over the 3-year timescale of the business plan.
STEP 9
THE BUSINESS DEVELOPMENT PLAN BUDGET
You will need to determine the nature of the budget for this plan. The budget may be a zero based budget that will require all budgetary assumptions related to income and expenditure to be specified or you may find that the budget is incremental where just small scale adjustments are needed. In the case of a new business start-up, a zero-based would be expected.
The basis for the budget should be considered for either a cost centre or a profit contribution centre, so that the budget proposal harmonises with your business development proposals.
A clear statement for the budget rationale would be expected, especially if your proposals require additional funding or start-up capital.
HOW YOU WILL BE ASSESSED FOR THE FULFILLMENT OF THE REQUIREMENTS OF THE BUSINESS DEVELOPMENT ROLE BRIEF
1. Achievement of the Role Brief
2. Clear Terms of Reference
3. Use of Course Modules
4. Quality of Proposed Content for Your Business Plan
5. Use of Key Concepts
6. Use of Models
7. Supporting Evidence and Relevant Research
8. Word Count Limitation
Attachment:- Business Proposal.rar