Training in Business Processes and Financial Management

Business Planning

Aims

The aim of the course is to introduce participants to the key steps of preparing a business plan.

Participants will be able to:

State the key stages in the preparation of business plans
Describe the elements of the business planning cycle
Prepare key elements of their own business plans including the summary, strategic options, marketing plan, operations and financing
State the different uses of business plans and how they differ from budgets

Timing

2 days

Who should attend

Senior management teams of developing businesses
Junior business planning teams
Functional management teams involved in the business planning cycle

Format

It is intensive and highly interactive with participants working on their own business plans throughout. :

Notes

Participants need to gather information on their business / division that they can work on to develop a business plan
Specific issues raised in this course can be developed in more depth through the following courses:
Problem solving techniques
Understanding finance
Analysis of financial statements
Financial modelling

Sessions / learning objectives

Method

Day 1

Why we prepare plans

State why plans are required

Stagnation through contentment

Abusing resources as a substitute for creativity

The stages of business planning

Describe the key stages and applications of business plans

Create contents list for their business plan:

Position analysis
Setting strategic goals
Strategic planning
Segment plans
Budget cycles
Integration plans

Break

Position analysis

Apply positioning tools and techniques

Identify 10 key points for their position analysis using:

SWOT
PEST
7-S
Five forces

Lunch

Setting strategic goals

Identify objectives and strategic options

Select three strategic options for their plan

Strategic planning

Evaluate and select appropriate strategies for their plan

Present their implementation plans

Break

Marketing

Describe the objectives of marketing
Research their market
Develop a marketing strategy
Describe the marketing mix

Create elements of their marketing action plan

Action planning

Develop their plans further
Recall key learning points

Prepare a list of actions to implement their plans

Sessions / learning objectives

Method

Day 2

Operations

Describe their organisational design
Discuss strategies for achieving management across functions
Identify appropriate management information and control systems

Perform a simple process mapping

Prepare the key headings to describe operations in their business plan

Break

Finance

Describe sources of finance
Select appropriate financial structures to support the strategy

Prepare high level planning projections for their plans and critically appraise them

Lunch

Segment plans

Describe the issues in preparing segment or divisional plans

Discussion of key issues:

Top down or bottom up?

Gaining buy-in

Death by measures

Integration plans

Describe the issues in preparing plans for mergers, acquisitions and special projects

Discussion of key issues:

Acquisition costs and reality

Motivating personnel

Integrating cultures

Integrating systems

Break

Budget cycles

Select an appropriate budget cycle
Describe the process of managing within the budget cycle

Convert elements of their plan into detailed budgets

Action planning

Complete their action plans