Assignment: Strategic Business Planning

Saw your first draft of the plan - that is good organization and start.

Couple things - first - you'll need much more "meat and potatoes" in the plan.  Right now you have the bones and some information - so get the team going on more depth - find justification information for statements of strategy (example - Why $100? - competition, imagery, target market behavior, - profit margins, cost structures, gross sales, tax brackets - what does that price do for you?  And is that the retail price - will you have any other distribution partners? 

This is just price - so you can see the other areas - Product, Promotions, Distribution - will need the same emphasis.

Now - you might already know this and are looking to beef it up - you have time and a team!

Next - what about measurements - the three categories is good (Marketing, Management, Finance) - but you'll need to either have a measurement sub-section in each of those - or one that covers all aspects of the plan.  You need to be able to prove that your strategy is working once implemented - and it isn't just bottom line sales - (I've seen companies make good sales - but missed out on more - and this allowed competition to enter the market and take some of their share!)

(Just like you are entering the market and taking share from others!)

So - ensure you can measure something to show that your strategy is reaching your objectives - see the attached - it is a good overview of the big picture.

Keep it up - you are building and like any structure - it isn't completed until you turn over the keys for someone to open the door!

(Don't you know I love analogies!)

PS - YOU DO NOT need all the items in the attached - it is to help you build a strong plan - some you may use - some you might not.  Just expand your thinking about what goes into a plan! (note - you can't be wrong with more information - "if it relates" - Talking about Santa Clause, or Price of Tea in China - likely doesn't fit.) 

Attachments area

My Portion to focus more on is the operations.