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Preparing effective business plan
Any company or organization needs to outline the set of goals and processes required by the team or person in charge, and the business plan provides an opportunity to better understand the goals, tasks, and results of the business, the business plan helps is organized during the work to facilitate the performance evaluation process and to reach the predetermined goals, business plan also help divide the required operations into small and achievable tasks, business plans usually includes the work plan of any company or organization.
The structure of an effective business plan:
In order to be able to establish an appropriate structure for an effective business plan, you must divide the effective business plan elements into sub-tasks, study each of them separately, schedule, arrange, and start them in priority. To ensure an effective business plan, you should consider several elements, including:
- Executive summary of the project:
This is to show the advantages of the project and what the funding bodies pay for funding with the appropriate amount to start or develop, and the executive summary in an effective business plan is placed at the beginning of the effective business plan although it is written after the completion of the effective business plan; the summary of an effective business plan must also include the name of the project or the name of its owner.
In an effective business plan, the vision defines the project, its location, the goal of its establishment, the problems expected to be faced, how to deal with it and the advantages it contains.
In an effective business plan, the project analysis describes the product or service the project provides and what prompted the project owner to choose this idea.
In an effective business plan, the marketing plan defines the target group, market position in terms of product demand, description of competitors, and the nature of competition in the market.
In an effective business plan, the operational plan are detailed steps are laid for production in terms of raw materials, suppliers, necessary machinery, technology, required labor, and means of transporting the product, in which the product is explained in terms of its purpose, quality, and proposed price.
In an effective business plan, a future vision for the project is explained, which ranges from two to three years, which includes project development, product development, marketing campaigns, employees, and customer segment.
In an effective business plan, the final element in which everything related to financing is determined from the start of the project until the passage of - at least - 5 years in terms of the capital needed to start the project and the available sources of financing The overall cost of the project and the expected revenue and thus the expected net profit.
Components of an effective business plan:
Operational plan:
When designing business plan (preparing business plan) as part of business plan components, the operational plan is defined as the process of linking strategic goals and objectives to tactical goals and objectives, and a description of the operational procedures and flow of operations. It describes the phases and conditions of success and explains how a business plan, will be put into operation during a given operational period, in the case of commercial application, fiscal year or any specific extent. This operational plan is considered an important components of business plan when preparing business plan is the operational plan.
Objectives of the Operational plan
When designing business plan (preparing business plan) as part of business plan components, the operational plan simulates and sequence specific and coherent activities in a structured manner to achieve specific competitive priorities as follow:
- When designing business plan (preparing business plan) as part of business plan components, the operational plan rationalizes the use of the organization's resources for added value.
- When designing business plan (preparing business plan) as part of business plan components, the operational plan ensures optimal performance towards the achievement of strategic objectives within the available realistic data.
- When designing business plan (preparing business plan) as part of business plan components, the operational plan promotes for achieving excellence: possessing the ability to carry out activities leading to a high degree of quality.
- When designing business plan (preparing business plan) as part of business plan components, the operational plan functions are summarized as follows:
- Confront uncertainty and change.
- Focus attention on goals.
- Access to economic employment.
- Facilitate the monitoring process.
Technical plan:
When designing business plan (preparing business plan) as part of business plan components, the technical plan is important in companies and institutions, where technical plan enters into many business objectives and has become the basics of work.
Definition of Technical plan:
When designing business plan (preparing business plan) as part of business plan components, the technical plan is the process of collecting the elements of the plan of action, and processing all the elements needed for processing, measuring and modification, by relying on ideas and personal experiences, to produce something new and distinct, performs its tasks and meets the goal of its technical design.
The importance of technical plan lies in its essence of providing the technical plan to operate the business. The technical plan describes the flow of activities within the business. Which is why the technical plan is important to understand the flow of activities within the technical plan.
Flow of operations:
When designing business plan (preparing business plan) as part of business plan components, the flow of operations in any company or organization should have charts to show how to divide a large complex process into smaller functions and how they fit together. It can help your team or organization as visual tools to see the bigger picture along with its proper place in the entire image, process flow charts are the simplest way to describe a process or activity. It illustrates all the components of a process flow for the purpose of business plan, its multiple stages and the flow of work steps from start to finish, and also helps determine the actual route of the process, and determines the flow of recurring processes and inspection phases. And result in increasing the efficiency of the different operations in the company.
Financial planning:
When designing business plan (preparing business plan) as part of business plan components, the financial planning helps you to effectively manage your company's finances, improves simple and complex financial decisions. It also helps to control your company's finances and avoid improper decisions such as over-borrowing or relying on debtors to manage your company. Financial planning as part of components of business plan when preparing business plan ensures that you have the right amount of money in time in the future to achieve their specific financial goals
Definition of Financial planning:
Financial planning when designing business plan (preparing business plan) as part of business plan components, means the preparation and pre-preparation of the financial goals of the company you want to achieve through the development of a proactive and deliberate financial plan that shows the way through which you will be able to achieve the objectives according to the operational plan and technical plan and as a general contribution to the business plan.
Marketing Plan:
The marketing plan shows the target market, where it is easy to find clients if you know your target audience exactly. And the marketing plan helps you formulate marketing messages that pay off effectively. Marketing planning is knowing what your product or service can do to help your target audience through the marketing plan, and in light of this knowledge your messages should address your market directly through your marketing plan.
watch: How to Write a Perfect Business Plan Presentation in 20 Minutes
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With greetings: Al - Manara Consulting to help researchers and graduate students