Business Development and Change Management

  Go to the Business Development and Change Management Assessment

You have a business planning process
 
A robust business planning process that translates your company’s strategic direction into a business plan with attainable financial targets is a prerequisite for a well-managed company. The process must be owned by the senior management team and implemented by all managers who, with the full involvement of their teams, compile the business plan
Key Issues
·         Business plans are normally established annually, prior to the start of a new financial year, on a three or five year rolling basis
·         The first year of the plan is regarded as the senior management team’s financial commitment to the shareholders.
·         The business planning process:
o      Starts with the Chief Executive / Owner providing a strategic direction for the business and outlining the financial criteria with which the company has to comply: profit / cash targets, expenditure limits etc
o      The senior management team are tasked with preparing a realistic but challenging business plan, taking account of the financial parameters, opportunities and risks that must be addressed
·         Review and agreement:
o      The business plan should be subject to informal review and comment by senior managers and revised, if necessary, to align with their advice
o      This business plan is normally presented formally to the Chief Executive / Owner before the start of the new financial year in order to gain acceptance
·         Approval of this business plan commits:
o      The Chief Executive / Owner to provide the funds and resources needed to implement the proposals
o      The senior management team to deliver the financial commitments regardless of unforeseen events that may impact the business
·         Successful companies hold a regular monthly / weekly meetings reporting progress to ensure these plans are being successfully implemented and the financial results remain on target, particularly in terms of profit and cash
·         This monitoring process must also ensure potential risks are visible and reported to appropriate senior managers to review the situation
·         Companies with several operating divisions need a consistent business planning process that allows direct comparison of their operating divisions
Factors for Success      
Factors to  Avoid
1.     Well thought-out business plans
2.     Management objectives based on the Business Plan
3.     Managers fully committed to delivering the plan
4.     Senior managers reviewing progress and taking proactive corrective action
1.     Not preparing a business plan
2.     Preparing an unrealistic plan.
3.     Preparing a plan based solely on financial requirements.
4.     Senior managers not considering how the key objectives will be achieved
5.     Failing to formally approve plans
Who does this apply to?
Chief executives, Senior management teams, managers
Realisable Benefits
A focussed workforce with clear directions working together to implement the business strategy.
Business planningBusiness planning

Business planning

The business planThe business plan

The business plan

Selecting future marketsSelecting future markets

Selecting future markets

Drivers for changeDrivers for change

Drivers for change

Collecting informationCollecting information

Collecting information

Sales processSales process

Sales process

Selecting change projectsSelecting change projects

Selecting change projects

Managing projectsManaging projects

Managing projects

Controlling and reviewing projectsControlling and reviewing projects

Controlling and reviewing projects