A good strategic plan translates into a business plan that ensures a long-term business overview and serves as a “road map” for implementation, monitoring and controling the process.
- Components of a business plan:
- Company profile.
- Technological review – technological advantages, usage and applications, relative advantages, etc.
- Analysis of strengths and weaknesses relative to the the value chain. Example:
- Competetive Analysis – main players, identifying the competition, competitive arenas, etc.
- Customer Analysis – customer characteristics, needs, segmentation.
- Identification and assessment of product types – key characteristics, response to a need, product segmentation.
- Market Analysis – defining the market, business models, barriers to entry, market suitability, possible niches.
- Identifying trends and analyzing market potential – key trends, size of the market, market growthrate.
- Return on Investment (ROI).
- Developing a marketing plan.
- Developing a sales plan.
- Developing an operational plan.
- Detailing financial development.
- Business contacts and their contribution to the business.
- Management capabilities.
- Required Investments.
- Organizational structure and staffing.