D Why a Business Plan is Important?
Essential Strategic Tool Aid to identify crucial steps that are necessary (Hormozi et al., 2002) Organizational Goals Identify growth Achieving financial objectives Key Components of a Business Plan Executive Summary Mission Statement Company Background Product Description Marketing Plan Competitor Analysis SWOT Analysis Operations Financial Planning Timeline Key Components of a Technology Plan Mission Statement Vision Statement Needs Assessment Technology Initiative Descriptions Goals Statement and Rationale Measurable Objectives Hardware, Software, and Facility Resource Requirement Instructional Resource Requirement Staff Development Plan Key Components of a Marketing Plan Marketing goals and objectives Defining the target audience Researching and analyzing marketing tactics Establishing company-wide marketing tactics Timeline Budget Best Practices for a Business Plan that Aligns to Organizational Goals! Align strategies to the Mission, Vision, and objectives. Ensure vertical alignment to goals. Ensure horizontal alignment of goals and operational alignment. Clarify goals through objectives. Strategies provide direction. Business Models Business to consumer: the business sells to a customer. Business to business: the business sells to another business. Consumer to business: the customer sells to a business. Consumer to consumer: customers sell to each other. How the Planning Process Applies to Key Business Support Functions for Management Senior leadership role Manager’s role Goals and objectives How the Planning Process Applies to Information Technology Data Statistics Strategize How the Planning Process Applies to Marketing Marketing plan and business planning process Roadmap Strategies DB FPX 8405 Assessment 2 LEADERSHIP PRESENTATION
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