Resumo de Strategic Planning

Most entrepreneurs started their businesses without adequate planning. Why bother about all the academic and long theories when you know you have a good business idea and there's a niche in the market? Most born entrepreneurs have that gut feeling and they just go ahead and start a business without spending time and money on preparing a business plan and having professionals look at it. This is alright and supported 100% because no MBA qualification or years of strategic planning experience are really needed to make a business successful. The business owner or entrepreneur only needs to know how to prepare the business for sustainable growth and profitability. A simple guide in the form of a strategic planning model is all that a business person needs to guard against business failure or to return back on track if the business already shows signs of failure. To plan the future of the business, to implement the ideas out of your head and business plan to reality ensures that you mould a successful future for your business. Measuring and controlling the business results will then ensure continuous improvement and sustained success. Reasons for failure can be divided into Business Planning issues and Strategic Planning issues.

Business Planning Issues: include Inadequate Business Planning, Insufficient Working Capital or Undercapitalisation, Incorrect Business Location and Lack of General
Management Systems.
Strategic Planning Issues: include Lack of Vision, Mission and Goal Setting, Building on Core Competencies, Lack of Industry Knowledge; Unplanned Expansions, Poor Economic Timing, Lacking a Competitive Edge.
It is common for most business plans to leave out the aspects of Strategic Business Planning. However this is crucial to indicate how a business may do well during its start-up phase but fail in later years. So don?t worry about the big word Strategic Planning. All it means is that you must do proper business planning. Define your business, identify your goals. Prepare your plan so you can use it as your business CV or resume or business bible. Include all important basic principles like What products you provide and what need it fills, who are potential customers and why will they purchase from you, how will you reach your customers, where will you get the finance to implement your plans, current financials. The plan will help you allocate resources properly and handle unforeseen complications. When its time to make decisions, especially sudden decisions it would help to have this plan handy. It is not only when you want to impress the bank to give you more money that you need to prepare this plan. If you wanted to know the secret to those businesses that lasted more than the first five years and those that did not, the continuous strategic planning and having direction is one of the main reasons that businesses succeed.
In the detail of your strategic plan you want to also include such things as the SWOT analysis. Yes continuously scrutinising what are your strengths, are they still strengths. (Strengths are advantages. What you do well. What is unique). Have a look at your Weaknesses. Where do you trip up? How does that hurt you in the market? Analyse your business Opportunities and your business Threats. The Swot analysis forces you to seriously take a step back and analyse your position as a business in terms of how easily can you swim in the market. Are you still as strong as you were a year ago? Can you change some weaknesses and threats to your advantage?
A business planner must also always keep analysing the industry trends. Here you don?t look at your business individually. You focus on your business from a broader industry perspective. For example Porter's Five Forces Model says you need to look at The Entry Of competitors, The Threat of Substitutes, The bargaining power of buyers, The bargaining power of suppliers, The rivalry among existing players.
Now that you have prepared your business resume d you have your SWOT analysis and your Industry Analysis you now know your current business position. You now need to plan the future of your business by taking into account knowledge gained whilst assessing your current business position.
Guess what you do now. You go back to the Vision, Mission, Business Values, and Objectives and define these for the desired future. Yes you go through everything once again including the SWOT analysis. This section defines how your business will look after you implement your new additions, changes, expansion plans, new product lines, etc.
Once you have your desired plan defined completely, you must write down your Action Plans.
This is your goal oriented tactic plans with roles, a budget and timelines. This will assist you to reach your goals.
If you are an entrepreneur and you are looking a proven solution to double or triple your business profits without spending another cent, then this book shows you step by step what successful businesses do that unsuccessful businesses are not prepared to do.

Resumos Relacionados