planning is essential for any enterprise or business.
The plan should include
- A framework for decisions or for
securing support / approval.
- Provide a basis for more detailed
- Explain the business to others in
order to inform, motivate & involve.
- Assist benchmarking & performance
- Stimulate change and become building
block for next plan.
The planning involves introduction, mission, business strategies, update
present status and introduce stakeholders in the business.
Keep descriptions in short about the products and say what that actually
mean to it. Give a detailed report about the size, color, segments,
trends , competition and user/ customer profiles. If relevant, explain
progress, plans, resources and highlight any technological advances.
Implementation is a critically important section, used to translate
all your proposals into clear, realistic and implementable plans. Outline the major decision points, time scales, milestones and actions
required by management and others to progress the plan. Atlast, wrap
up your plan and to leave the reader with a warm and positive view of
the business give the conclusion.
It is desirable to clearly
identify the current status, objectives and strategies of an existing
business or the latest thinking in respect of a new venture. It is better
to have a clear vision and mission in the process of developing the
primary strategies in the business.
A successful growth
in business is said to possess the following characteristics:
- Sensibly financed (with prudent
mix of equity and debt).
- Strong cash position (with access
to follow-on or contingency funds).
- Offers above-average profitability
(in terms of return on capital invested).
- Aims for rapid growth in revenues
(with profits lagging but in prospect).
- Targets expanding, or otherwise
attractive, market segments.
- Develops a strong franchise or brand.
- Devotes substantial resources to
innovation (R&D, offerings or market).
- Competes on non-price issues (e.g.
quality, service, functionality).
- Very close to customers and responsive
to their needs.
- Seeks specialist/leadership image
with superior offerings.
- Well managed with high-grade staff
& good people-management.