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.