Proper business should start from business plan describing financial, operational and marketing issues. It is a brief writing specifying corporate’s goal, environment and industry peculiarities. Once it is written one should make a decision on the corporate business strategy to have a brief plan of actions based on resources available goals needed to be achieved. The business plan content sections should be included in corporate business strategies, however, those should be updated if needed.
Defining Corporate Strategy
Corporate strategy planning should describe:
- The company’s long-term goal
- The company’s current position in scope of achieving the goal
- Ways of achieving the goal
A proper corporate strategy analyst should base on the business plan to define the best option among the corporate strategies available.
Writing The Business Plan
There are several approaches to business plan writing based on owner’s attitude. The corporate and business strategy should be based on this writing, therefore business plan is something a corporate owner will use permanently while running a business.
The business plan contains:
- Business description
- Market strategies
- Competitive analysis
- Operations plan
- Development plan
- Financial part
Introduction To the Business Plan
A half-page outline containing business description and goals.
Detailed information on business, product and industry. This section should contain the general information on business, some historical facts on the industry are recommended to be included. The main goal of this section is to provide a general understanding of business issues, thus even the person never dealt with such a kind of industry should have an image of what is going to be produced.
Environmental part is about to disclose external factors which will affect the corporate’s performance. It is about market issues, competitors’ analysis and customer needs. Proper writing of environmental part will give one an image on company’s prospectives and start position and it is a matter of a fact that if conclusions based on this section analysis are being right it will bring the company a huge advantage. The data given should be updated and used when defining the current position of company in business corporate strategy plan.
Market strategies are defined to find the best way to sell the product. In order to provide market strategies one should provide a proper market analysis in order to define the number of competitors and the market share one can occupy. It is a vital section of the corporate business plan as it describes the ways to gain profit.
Once the company enters the market it is a matter of a fact it should deal with competitors. Competitive analysis should provide a deep description of competitor’s products, strength and weaknesses as it is vital to position the corporate’s product as a unique one.
Internal processes include business scheme, operation, development and financial issues. Those are mostly about control, management and efficiency. The data given should be used when defining the ways to achieve the goal in corporate business functional strategy.
Illustrative business plan samples
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