Business Planning
About Business Planning
Business
planning takes place when the key stakeholders in a business sit down
and flesh out all the goals, strategies, and actions that they envision
taking to ensure the business’s survival, prosperity, and growth.
Why is Business Planning important?
The benefits of business planning are
•
See the whole business. Business planning done right connects the dots
in your business so you get a better picture of the whole. Strategy is
supposed to relate to tactics with strategic alignment. Does that show
up in your plan? Do your sales connect to your sales and marketing
expenses? Are your products right for your target market? Are you
covering costs including long-term fixed costs, product development, and
working capital needs as well? Take a step back and look at the larger
picture.
• Strategic Focus. Startups and small business need to
focus on their special identities, their target markets, and their
products or services tailored to match.
• Set priorities. You
can’t do everything. Business planning helps you keep track of the right
things, and the most important things. Allocate your time, effort, and
resources strategically.
• Manage change. With good planning
process you regularly review assumptions, track progress, and catch new
developments so you can adjust. Plan vs. actual analysis is a dashboard,
and adjusting the plan is steering.
Who should take the Business Planning Exam?
• Business professionals
• Business owners
• Entrepreneurs or Innovators
• Anyone who wants to assess their business planning skills
• Entrepreneurs who are thinking of starting a business
• Business owners who want to grow an existing business or solve an operating problem
• Business consultants
• Students
Business Planning Certification Course Outline
1. Introduction to Business Strategy
2. Introduction to Strategic Management
3. Business Planning