DB FPX 8405 Assessment 2 Leadership Presentation DB-FPX 8405 Effective Organizational Leadership
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Why a Business Plan is Important?
Essential Strategic Tool
- Aid to identify crucial steps that are necessary (Hormozi et al., 2002)
Organizational Goals
- Identify growth
- Achieving financial objectives
Key Components of a Business Plan
- Executive Summary
- Mission Statement
- Company Background
- Product Description
- Marketing Plan
- Competitor Analysis
- SWOT Analysis
- Operations
- Financial Planning
- Timeline
Key Components of a Technology Plan
- Mission Statement
- Vision Statement
- Needs Assessment
- Technology Initiative Descriptions
- Goals Statement and Rationale
- Measurable Objectives
- Hardware, Software, and Facility Resource Requirement
- Instructional Resource Requirement
- Staff Development Plan
Key Components of a Marketing Plan
- Marketing goals and objectives
- Defining the target audience
- Researching and analyzing marketing tactics
- Establishing company-wide marketing tactics
- Timeline
- Budget
Best Practices for a Business Plan that Aligns to Organizational Goals
- Align strategies to the Mission, Vision, and objectives.
- Ensure vertical alignment to goals.
- Ensure horizontal alignment of goals and operational alignment.
- Clarify goals through objectives.
- Strategies provide direction.
Business Models
- Business to consumer: The business sells to a customer.
- Business to business: The business sells to another business.
- Consumer to business: The customer sells to a business.
- Consumer to consumer: Customers sell to each other.
How the Planning Process Applies to Key Business Support Functions for Management
- Senior leadership role
- Manager’s role
- Goals and objectives
How the Planning Process Applies to Information Technology
- Data
- Statistics
- Strategize
How the Planning Process Applies to Marketing
- Marketing plan and business planning process
- Roadmap
- Strategies
DB FPX 8405 Assessment 2 Leadership Presentation
References
Hormozi, A. M., Sutton, G. S., McMinn, R. D., & Lucio, W. (2002). Business plans for new or small businesses: Paving the path to success. Management Decision, 40(8), 755-763.