COURSE OVERVIEW:

Effective business planning can be the key to your success. A business plan is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved. It also describes the nature of the business, background information on the organisation, the organisation's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road map that provides direction to the business.

It’s a shame that so many people think business plans are just for start-ups, or to back up loan applications, or for getting investors. The truth is that business planning offers serious benefits for everybody in 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.

This course covers many aspects of business planning. The first part discusses the causes of failure, defines business planning and the business plan. Then discusses the dynamic business environment and what is competition.  Also explains what drives businesses and the operations that must be controlled. Then focuses on the evolution of business planning.

The second part examines the process of business planning including: mission statements, the core planning principles, how to compile the business plan. Then explores the promotional and marketing plans and you need to incorporate into your plans.

The third part shows business planning in practice including: the accurate basis for information, how to ensure the process is creative and the mechanics of brainstorming. Then it provides some approaches to deciding the promotional budget. Finally, it discusses how to satisfy your banker and balance the books.

LEARNING OUTCOMES:

By the end of this course, you will be able to understand:

·       What is meant by business planning?

·       The causes of business failure

·       How to run a business?

·       The business plan

·       The dynamic business environment

·       What is competition?

·       Working with limited resources

·       Driving the business with a sound plan

·       Why and how operations must be controlled?

·       The evolution of business planning

·       The main prerequisites to business success

·       The process of business planning

·       What the effective business plan must recognise and balance?

·       What to include in the mission statements?

·       The core planning principles

·       How to compile the business plan?

·       Market opportunities and threats

·       What do we know about our market?

·       What do customers think of the market?

·       How is the market served competitively?

·       What are the trends?

·       Internal strengths and weaknesses

·       What is our customer base?

·       The range of products/services

·       The prices/price policy

·       Promotion and selling

·       Internal factors

·       Marketing objectives and strategies

·       Products/services and price

·       The promotional plan

·       How to analyse the company’s needs?

·       How to prepare the operation plan?

·       How to select marketing tactics?

·       How to prepare for implementation?

·       What do you need to incorporate into your plan?

·       Marketing plans and what should be included

·       Business planning in practice

·       What business are we in?

·       The accurate basis for information

·       How to ensure the process is creative?

·       How to do the research?

·       How to decide on the promotional budget?

·       What have we learned from previous years?

·       The task method approach

·       How to satisfy the bankers?

·       How to balance the books?

COURSE DURATION:

The typical duration of this course is approximately 2-3 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.

COURSE REQUIREMENTS:

You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.

COURSE DELIVERY:

Purchase and download course content.

ASSESSMENT:

A simple 10-question true or false quiz with Unlimited Submission Attempts.

CERTIFICATION:

Upon course completion, you will receive a customised digital “Certificate of Completion”.