Starting A Business?: How To Develop An Effective Business Plan
Starting a Business
Training
Provided by Online Training Directory
You will learn how to develop, analyze and sell an effective business plan for your company or organization.
This is not your ordinary "cook-book" workshop on Business Planning. Dr. Frank Leibold integrates solid business concepts he teaches MBA`s with invaluable tips he has acquired over 40 years of progressive executive business experience. He has developed and evaluated numerous plans, in a variety of industries, as a unit manager, V.P., CEO and consultant assisting small and large companies with their plans and strategy. Before you pass on this tutuorial, please review his credentials at the end of this course outline...it may save you endless hours of formulating a business plan that either gets rejected or doesn`t leverage your organizations global comparative advantage. And, if you think you understand your business after completing this self-paced tutorial you`ll gain new and invaluable insights into it`s success factors and strategic `drivers.`. All companies should have a business plan. A well researched, analyzed and written Business Plan can be used by your company to: 1) secure resources and/or investment funding, 2) provide a `road map` that guides all company activity, 3) integrate the activities of all functional departments within the company, 4) assist in achieving the company`s strategic and financial goals, and, 5) provide a control mechanism to determine if the company`s activities are `on course` to meet it`s budget and long term plans. The process used to develop such a comprehensive Business Plan can also provide valuable insight into the success factors and strategy necessary for the company to achieve success. When a business plan`s assumptions change and/or it`s enviroment is significantly altered, and the Business Plan is not modified, the business can be adversely affected. Furthermore, sometimes the termination of a major project/initiative is the `right decision`, and companies can lose valuable time and resources by following a "top-down" plan that is not adjusted for significant changes.
This course will discuss all of these key aspects of a Business Plan and students will be required to apply the gained knowledge through a number of essay exams. Additionally, the participants will be asked to answer 25 probing questions about their own business/organization which will then form the basis for recommendations to improve their own business plan and the processes used to develop it.
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Starting A Business?: How To Develop An Effective Business Plan
Outcomes
Upon completion of the course the students will be able to demonstrate the following: 1.An understanding of the purpose and value of a business plan, 2.An understanding of the key elements of a plan and the role of each, 3.Skills necessary to analyze a business needed to develop a plan, 4.How to use diagnostic tools necessary to evaluate a business, 5.Knowledge of the criteria required for a successful plan`s implementation, 6.An understanding of the process of selling a business plan - both internally and externally. The measurement of the student`s comprehension of the covered material will be obtained through two self-graded online essay exams.
Assessment
Upon completion of this course, the student will have developed knowledge and skills in the following areas: 1.The ability to understand the value of a business plan and the appropiate process for developing such a plan, 2.The ability to develop a plan, 3.The ability to analyze a business, 4.The ability to sell a plan, 5.A much better understanding of your business and it`s success factors, 6.Proficency in use of analytical tools to help manage your business more effectively, 7.Improved problem solving skills, 8.Imporoved communications skills, 9.Improved ability to synthesize and analyze information, 10.The ability to `step-back` from the fray and acquire a `new way` of looking at your business.
Week 1
Week 2
Week 3
Week 4
Week 5
THE NATURE & IMPORTANCE OF A BUSINESS PLAN During the first week the course will explain what a Business Plan is, why it is important, how one is developed and what are it''''s essential components. Among the points that will be covered are: *A review of the fundamental purpose for developing a plan [internal & external] *What are the essential elements of a plan? *Who is responsible for developing the plan? *What organizational processes should be used during development? *How will the necessary information be obtained and from whom? *Who will use the plan and what are their objectives? *How can the plan be used in helping you to better understand your business? After understanding the essential purpose(s) and components of a business plan the students will be prepared to analyze their business and develop the information that makes a Business Plan effective. This will be discussed in Week Two.
BUSINESS ANALYSIS & PLAN DEVELOPMENT In Week Two the course discusses how you can analyze your business, including: your target market, competition, global comparative advantage, external enviroment, and important trends, opportunities and threats. This will be done by using the following diagnostic tools: *The Boston Consulting Group [BCG]matrix to assess business strategy, *Porter''''s competitive advantage model to determine key success factors [customers, competitors, substitutes, and suppliers] and your sustainable global comparative advantage, *The Product Life Cycle to determine the need for new products, *A SWOT analysis to determine major business opportunities and threats, *A situation analysis that will evaluate the external enviroment and provide the foundation for the business plan development. Once the students are able to analyze their business, determine key forces influencing it''''s success, and identify it''''s sustainable competitive advantage they will then study what characterizes an effective plan. This will be explored in Week Three.
CHECK LIST FOR AN EFFECTIVE PLAN This week of the course will focus on how to determine what constitutes a comprehensive and effective Business Plan. One that will allow your firm to achieve competitive success. This will be accomplished through answers to 20 probing questions about their own business and organization. Now that the students understand the characteristics of an effective Business Plan, we will discuss the implementation of that plan in Week Four. Many outstanding business plans fail during the implementation phase.
PLAN IMPLEMENTATION The course will now address the key issues associated with effective plan implementation. Among the topics covered will be: *The key role of senior management, *Top-down or botton-up process?, *How to develop an appropiate organizational [structural] ''''fit'''', *How to develop reasonable but effective control processes, *How to manage the plan''''s implementation process [what, who, when], *Monitoring key assumptions, *Scanning the changing enviroment, *Monitoring and modifying the plan for changing customer needs and technological changes, *When should a plan be modified or changed? When terminated?, *Developing contingency plans. *Using the plan as a management tool, The completion of this week of the course will prepare the students to address the preperation of the formal Business Plan document and it''''s presentation and selling - both internally and externally. This will be covered in the Final Week of the course.
SELLING THE PLAN: RISKS & TIPS During the final week of the course the students will learn how to prepare the formal Business Plan and the process of selling the plan to all the important stakeholders. Among the topics covered will be: *Developing the Plan Document, *Developing the Presentation, *How to obtain organizational "ownership", *Selling the plan internally [top management, support functions, suppliers etc.], *Selling externally [bankers, distributors, government agencies etc.], *Obtaining "committment" - [internally and externally], *Reporting progress ["Thou shall not disappoint investment bankers"]. At the conclusion of the final course week the students will receive a comprehensive essay exam to assess their assimilation of the material covered. Students will also be asked to summarize their answers to the 20 questions about their business/organization in the form of a memorandum of business recommendations, that they can review with their superiors as a means of improving their current Business Plan and the processes used to develop it.
Contact Hours: 40
Upon completion of the course the students will be able to demonstrate the following: 1.An understanding of the purpose and value of a business plan, 2.An understanding of the key elements of a plan and the role of each, 3.Skills necessary to analyze a business needed to develop a plan, 4.How to use diagnostic tools necessary to evaluate a business, 5.Knowledge of the criteria required for a successful plan`s implementation, 6.An understanding of the process of selling a business plan - both internally and externally. The measurement of the student`s comprehension of the covered material will be obtained through two self-graded online essay exams.
Assessment
Upon completion of this course, the student will have developed knowledge and skills in the following areas: 1.The ability to understand the value of a business plan and the appropiate process for developing such a plan, 2.The ability to develop a plan, 3.The ability to analyze a business, 4.The ability to sell a plan, 5.A much better understanding of your business and it`s success factors, 6.Proficency in use of analytical tools to help manage your business more effectively, 7.Improved problem solving skills, 8.Imporoved communications skills, 9.Improved ability to synthesize and analyze information, 10.The ability to `step-back` from the fray and acquire a `new way` of looking at your business.
Week 1
Week 2
Week 3
Week 4
Week 5
THE NATURE & IMPORTANCE OF A BUSINESS PLAN During the first week the course will explain what a Business Plan is, why it is important, how one is developed and what are it''''s essential components. Among the points that will be covered are: *A review of the fundamental purpose for developing a plan [internal & external] *What are the essential elements of a plan? *Who is responsible for developing the plan? *What organizational processes should be used during development? *How will the necessary information be obtained and from whom? *Who will use the plan and what are their objectives? *How can the plan be used in helping you to better understand your business? After understanding the essential purpose(s) and components of a business plan the students will be prepared to analyze their business and develop the information that makes a Business Plan effective. This will be discussed in Week Two.
BUSINESS ANALYSIS & PLAN DEVELOPMENT In Week Two the course discusses how you can analyze your business, including: your target market, competition, global comparative advantage, external enviroment, and important trends, opportunities and threats. This will be done by using the following diagnostic tools: *The Boston Consulting Group [BCG]matrix to assess business strategy, *Porter''''s competitive advantage model to determine key success factors [customers, competitors, substitutes, and suppliers] and your sustainable global comparative advantage, *The Product Life Cycle to determine the need for new products, *A SWOT analysis to determine major business opportunities and threats, *A situation analysis that will evaluate the external enviroment and provide the foundation for the business plan development. Once the students are able to analyze their business, determine key forces influencing it''''s success, and identify it''''s sustainable competitive advantage they will then study what characterizes an effective plan. This will be explored in Week Three.
CHECK LIST FOR AN EFFECTIVE PLAN This week of the course will focus on how to determine what constitutes a comprehensive and effective Business Plan. One that will allow your firm to achieve competitive success. This will be accomplished through answers to 20 probing questions about their own business and organization. Now that the students understand the characteristics of an effective Business Plan, we will discuss the implementation of that plan in Week Four. Many outstanding business plans fail during the implementation phase.
PLAN IMPLEMENTATION The course will now address the key issues associated with effective plan implementation. Among the topics covered will be: *The key role of senior management, *Top-down or botton-up process?, *How to develop an appropiate organizational [structural] ''''fit'''', *How to develop reasonable but effective control processes, *How to manage the plan''''s implementation process [what, who, when], *Monitoring key assumptions, *Scanning the changing enviroment, *Monitoring and modifying the plan for changing customer needs and technological changes, *When should a plan be modified or changed? When terminated?, *Developing contingency plans. *Using the plan as a management tool, The completion of this week of the course will prepare the students to address the preperation of the formal Business Plan document and it''''s presentation and selling - both internally and externally. This will be covered in the Final Week of the course.
SELLING THE PLAN: RISKS & TIPS During the final week of the course the students will learn how to prepare the formal Business Plan and the process of selling the plan to all the important stakeholders. Among the topics covered will be: *Developing the Plan Document, *Developing the Presentation, *How to obtain organizational "ownership", *Selling the plan internally [top management, support functions, suppliers etc.], *Selling externally [bankers, distributors, government agencies etc.], *Obtaining "committment" - [internally and externally], *Reporting progress ["Thou shall not disappoint investment bankers"]. At the conclusion of the final course week the students will receive a comprehensive essay exam to assess their assimilation of the material covered. Students will also be asked to summarize their answers to the 20 questions about their business/organization in the form of a memorandum of business recommendations, that they can review with their superiors as a means of improving their current Business Plan and the processes used to develop it.
Contact Hours: 40
About The Training Provider: Online Training Directory
Online Training Directory - Workforce and Continuing Ed online courses are offered at basic, intermediate and advanced levels. Going beyond basic training provides a deeper and more educationally rewarding learning experience, especially for students who wish to advance careers or initiate new ones. For the general lifelong learner we continue to offer "fun to learn" single, stand-alone courses.
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