Business planning process wikipedia encyclopedia

Ongoing continuous improvement The aspects of a BPM effort that are modified include organizational structures, management systems, employee responsibilities and performance measurements, incentive systems, skills development, and the use of IT.

Business planning process wikipedia encyclopedia

Audience[ edit ] Business plans may be internally or externally focused. Externally-focused plans business planning process wikipedia encyclopedia goals that are important to outside stakeholders, particularly financial stakeholders. These plans typically have detailed information about the organization or the team making effort to reach its goals.

With for-profit entities, external stakeholders include investors and customers, [2] for non-profits, external stakeholders refer to donors and clients, [3] for government agencies, external stakeholders are the tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fundthe World Bankvarious economic agencies of the United Nationsand development banks.

Internally-focused business plans target intermediate goals required to reach the external goals.

Business process reengineering - Wikipedia

They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.

An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures.

Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.

Operational plans describe the goals of an internal organization, working group or department. They may also address the project's place within the organization's larger strategic goals.

The content and format of the business plan is determined by the goals and audience. For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.

Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.

Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. August Learn how and when to remove this template message The format of a business plan depends on its presentation context.

It is common for businesses, especially start-ups, to have three or four formats for the same business plan. An " elevator pitch " is a short summary of the plan's executive summary. This is often used as a teaser to awaken the interest of potential investors, customers, or strategic partners.

It is called an elevator pitch as it is supposed to be content that can be explained to someone else quickly in an elevator. The elevator pitch should be between 30 and 60 seconds.

The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks. If a new product is being proposed and time permits, a demonstration of the product may be included.

An internal operational plan is a detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders.

business planning process wikipedia encyclopedia

Such plans have a somewhat higher degree of candor and informality than the version targeted at external stakeholders and others.

Typical structure for a business plan for a start up venture [10] cover page and table of contents.Material requirements planning (MRP) is a computer-based inventory management system designed to assist production managers in scheduling and placing orders for items of dependent demand.

business planning process wikipedia encyclopedia

System architecture design is a process developed by Esri to promote successful GIS enterprise operations. This process builds on your existing information technology (IT) infrastructure and provides specific recommendations for hardware and network solutions based on existing and projected business .

Business Encyclopedia of Terms and Methods. Look up or search for in-depth coverage of terms and methods from the fields of Accounting, Finance, Marketing, Economics, and Business Strategy, Business Analysis, Business Planning, Business Case Analysis, Project Management, and .

A business process or business method is a collection of related, structured activities or tasks that in a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process .

Business plan - Wikipedia

Business process reengineering (BPR) is the practice of rethinking and redesigning the way work is done to better support an organization's mission and reduce monstermanfilm.comzations reengineer two key areas of their businesses.

A business plan is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame that these goals need to be achieved.

It also describes the nature of the business, includes background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve stated targets.

Strategic planning - Wikipedia, the free encyclopedia