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BUSINESS PLAN: FIRST STEPS

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An action plan to develop business ideas ... BUSINESS PLAN GOAL: ... Defining/refining our business mission checking for validity/ applicability ... – PowerPoint PPT presentation

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Title: BUSINESS PLAN: FIRST STEPS


1
BUSINESS PLAN FIRST STEPS
  • Julia Rastopchina Oksana Kikhtenko
  • Eurasia Regional Advising Conference
  • Moscow, 2004

2
WHAT IS A BUSINESS PLAN?
  • A document developed to justify a request for
    funding
  • An action plan to develop business ideas
  • As a strategic planning tool describes business
    strategy, market position, identifies goals,
    defines budget

3
KEY QUESTIONS OF A BUSINESS PLAN
  • What is our business and its mission?
  • Who are our clients and how well do we know them?
  • What are the customers needs, what do they want?
  • What do we supply and how does our product create
    value for our customers?

4
KEY QUESTIONS OF A BUSINESS PLAN
  • How is our business developing?
  • How it can/ should develop?
  • How can we prevent others from entering our
    market?
  • How do we compete with other players on the
    market?

5
BUSINESS PLAN GOAL
  • To guarantee that our efforts are aimed at
    maintaining and enhancing our competitiveness

6
BUSINESS PLANNING PROCESS
  • Business planning includes
  • Analysis of the current situation and trends
    including competition
  • SWOT analysis (strengths, weaknesses,
    opportunities and threats)
  • Defining/refining our business mission checking
    for validity/ applicability
  • Key success factors and strategic decision-making
    main directions
  • Goal-setting (SMART specific, measurable,
    agreed upon, realistic, time-bound)

7
SITUATION ANALYSIS
  • Micro environment (immediate surrounding)
  • Macro environment (global/national/regional level)

8
Analysis of micro environment (immediate
surrounding)
  • Customers/ clients
  • Suppliers
  • Labor force
  • Competition

9
Analysis of macro environment
  • Economic environment
  • Legal aspects
  • Political environment
  • Technological factors
  • Social factors
  • Global economic conditions

10
MACRO ENVIRONMENTof your business
11
MICRO ENVIRONMENT(IMMEDIATE SURROUNDINGS)of
your business
12
Opportunities and threats for company development
  • Opportunities
  • Threats

13
SWOT - analysis
STRENGTHS Key internal advantages a manager can
use
WEAKNESSES Internal obstacles a manager should
be aware of
OPPORTUNITIES Key external advantages a manager
should use
THREATS Key external events or future changes
that may negatively affect the companys business
14
SWOT-ANALYSIS STRATEGIC MEANING
S STRENGTHS
W WEAKNESSES
Company
Loss of time
??!
NO WAY!
Solve problems first!
O OPPORTUNITIES
T THREATS
Market
15
SWOT analysis purpose and applications
  • Summarizes
  • results of macro and micro environments
  • opportunities and threats (based on macro
    environment analysis)
  • strengths and weaknesses (based on micro
    environment analysis)
  • Helps to develop
  • strategic action plan based on SWOT-matrix
  • company strategy

16
STRENGTHS
  • Competent leadership
  • Available financial resources
  • Qualified personnel
  • Good reputation with the customers
  • Market leadership
  • Protection against competition
  • Technological supremacy
  • Cost advantages
  • Competitive advantages
  • Innovation capability and ability to implement
    innovation
  • Seasoned management
  • Better production facilities
  • Potential for external investment

17
WEAKNESSES
  • No clear strategy
  • declining competitive position
  • obsolete equipment
  • low profits
  • lack of managerial experience and insight
  • low competence
  • weak or no follow-up on strategy implementation
  • internal problems
  • vulnerability under pressure from competition
  • weak RD
  • low capacity
  • insufficient market knowledge/awareness
  • bad marketing
  • lack of finance to implement strategy
  • undeveloped distribution/ sales
  • high costs (higher than competition)
  • narrow product range

18
OPPORTUNITIES
  • new markets/ market segments
  • expanding production / services
  • expanding product range
  • supplementary products or services
  • weakening of competitors
  • market growth or expansion
  • lower trade barriers on new geographic markets
  • vertical integration (up or down)
  • new technologies
  • availability of external funding

19
THREATS
  • new competitors
  • growing sales of substitute products or services
  • slowing market growth
  • unfavorable government policy
  • growing pressure from competition
  • growing negotiating power of suppliers and
    customers
  • changes in customer needs and preferences
  • unfavorable demographic situation
  • unfavorable currency fluctuations
  • high dependence on demand levels and life cycle
    of business

20
KEY QUESTIONS OF A BUSINESS PLAN
  • What is our business and its mission?
  • Who are our clients and how well do we know them?
  • What are the customers needs, what do they want?
  • What do we supply and how does our product create
    value for our customers?
  • How is our business developing?
  • How it can/ should develop?
  • How can we prevent others from entering our
    market?
  • How do we compete with other players on the
    market?

21
THANK YOU!
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