An optimized plan?

Although much is made of it in the business press, strategic planning remains a vague concept for many entrepreneurs. Strategic planning can create real value for any organization that takes the process seriously.

What is business strategic planning? Simply put, it is a coordinated and methodical process used to determine your company's goals and how to achieve them.


In fact, not following a business strategy is like navigating uncharted waters without a map. The greater the uncertainty, the more important it is to plan the company's strategy well.

Planning is said to need tools that allow the creation of the right organization in terms of teams, goals, actions and timelines, where there is fluid communication between stakeholders and who can participate actively in the success of each project.

Corporate strategy

Why is it important to plan a company's strategy?

Strategic planning lets you know where you want to take your business in the next year or so and how you're going to get there.

STRATEGIC BUSINESS ASSOCIATION

A strategic business unit, or SBU, is a full-time business unit that has its own vision and direction. Typically, strategic business units operate as separate units, but are an integral part of the company, reporting on business performance.

The strategic business unit, or SBU, operates as an independent entity, but reports directly to the organization's headquarters on its performance. Work independently and focus on the target market. Staff, training department, etc. it is enough to have its own support functions such as

This principle works best for organizations with multiple product structures. The best example of a strategic business unit or SBU is Proctor and Gamble, Unilever, LG, Kraft etc. large companies with different brands or products such as This company has different product categories under one roof.

For example, LG as a company produces consumer goods: refrigerators, washing machines, air conditioners or televisions. These sub-units are formed as separate SBUs to track revenues, costs and profits independently. After receiving SBU status, the department can make its own decisions, make investments, budget, etc. Therefore, it will be easier to react to sudden changes in the market.

How to Create a Business Plan: Tips for Creating a Successful Strategy

 

A business plan is used to find and finance investors who are interested in your business idea. You can make money by explaining your business idea and its potential for success, but how do you write a successful business plan? What are the key points and things to consider?

Creating a business plan is a process that should be done with care and attention. In fact, you need to consider possible changes, different events and, above all, know how to make the best business plan.

That's why we decided to give you  tips below to guide you in creating this project:

1) Introduce yourself

The closing of the business plan must include all personal information and the place of residence of the company: address, telephone number and registered office of the company.

Remember that you have to know someone to trust them, and the first way to get to know them is through personal information.

Entering all your data will give you a sense of transparency.

2) Writing a good company description is a must

First, complete information. A business plan should explain the reason for starting the business and the goals you want to achieve. The product or service you want to offer must be provided with all the technical features and advantages compared to the competition.

In this first step, it is recommended to use detailed and detailed diagrams and videos showing the items to be sold. Of course, other details that may be relevant to the cause - the technology used, the patents or the team's special skills - should also appear here.

The information collected must be specific and cannot be based on estimates or assumptions, especially if funding is sought.

The best thing you can do to stay on top is to use a powerful scheduling tool like Synapse, as we discussed at the beginning of this article, where you and everyone on your team can add and manage information. Make a great business plan.

3) Identify threats and opportunities

An idea cannot be marketed without conducting a thorough analysis of the industry where it operates. First, the rules that govern it must be determined, after which the potential economy, average profitability, and supplier bargaining power must be evaluated.

Direct and indirect competitors should identify their strengths and weaknesses and study in detail specific examples of how your product can be successful. Demographic, geographic, and socioeconomic characteristics of customers must be determined: sex, age, income, place of residence, education level, and affiliation level.

The main factors are taste and habits, as well as a careful analysis of the place you work. In fact, it is impossible to create a new activity in a field that is not of interest to the public.

4) Define trading strategy for sales forecast

An accurate trading strategy is essential in any self-respecting business plan. First, business goals must be defined. An action plan is then developed for the product or service, which includes selling prices (always compared to the competition), advertising and distribution strategies, and communication and promotion planning.

Once this information is obtained, it is easy to calculate your market share and make sales forecasts, usually on a three-year basis.

5) Face the problem, not just numbers

A company is made up of people and their roles and responsibilities should also be defined in the business plan. A good business plan should also include a workforce management plan: number of employees, types of contracts, potential new hires and external partnerships, career paths and training courses. You should definitely use Synnaps to manage all your resource issues.

It is necessary to identify the company's history and legal form, indicate its location, communicate whether the property is owned or leased, and how services or products are offered.

BUSINESS DEPARTMENT'S STRATEGY CANNOT BE STOPPED

To know how to develop a business strategy, you need to solve three problems:

Who should be responsible for strategic planning?

A company's strategy must be implemented by its core team of employees. In general, it is led by the president of the company, who consults with his employees or a team of employees created for this purpose. The team determines the key factors for strategic analysis and participates in this analysis (eg through interviews). It also contributes to setting strategic direction and action plans.

When is the best time?

The strategic planning process generally depends on the nature and needs of your business. Therefore, the ever-changing environment requires you to repeat the exercise at least once a year.

As a rule, you should use:

  • When you create your company.
  • When preparing a project like launching a new product.
  • When the market grows.
  • When there are changes in the business environment (laws, regulations)

 

Why is it useful to plan a company's strategy?

Planning will help you achieve the following goals

  • Define the scope of your work - check incentives, costs and resources.
  • Analyze Strengths, Weaknesses, Opportunities, and Threats - Examine the company's internal and external environment to take advantage of your strengths, protect against your weaknesses, and take advantage of business opportunities.
  • Suggest a new strategy - review the tactics taking into account the above factors.
  • Get all your employees on one page - to reach consensus in your company and communicate the message to stakeholders.
  • Measure your success - track your progress and motivate your employees to keep trying.
  • Optimizing the use of resources, increasing productivity.

ORGANIZATIONAL STRATEGY

An organizational strategy is the sum of the actions that a company intends to take to achieve long-term goals. Together, these actions make up a business plan. Strategic plans take at least a year to complete, requiring participation from all levels of the company. Top management creates the larger organizational strategy, while lower and middle management adopt goals and plans to accomplish the overall strategy step by step. In summary, we could say that the organizational strategy consists of putting your business plan into practice, so, below, we will present some strategies of a business plan (examples) or strategies of a company (examples):

Strategies of a business plan: (examples) or strategies of a company: (examples)

Let's see three very specific examples of strategies that could be carried out in a business:

Information Technology Strategy

A financial institution develops an IT strategy to implement multi-factor authentication in all of its clients' systems. The goal of the strategy is to reduce costly security incidents and fraud. The strategy is based on the assumption that multi-factor authentication will be effective against future security threats.

sustainability strategy

A taxi and minibus company develops a strategy to convert its entire fleet of vehicles to electric. The objective of the strategy is to reduce energy costs and improve the sustainability of the company's operations. The strategy makes assumptions about future costs for the electrical grid, solar panels, and facility maintenance.

Strategy of bonuses or rewards

A WordPress plugin developer launches a new plugin but it seems that her clients are seeing excessive pricing. The developer then decides to offer a free trial period and some free premium extensions to plugin buyers, hoping to balance the value for money.

It is time for you to sit at the table with your team and try to gather all the information necessary to write a business plan for your own company. Remember that, far from being a waste of time, it will allow you to better structure your organizational strategy and reduce risks in the future.

BUILDING STRATEGY

An organization's strategy is the sum total of what a company will do to achieve its long-term goals. Together, these actions form a business plan. The strategic plan lasts at least one year, requiring the participation of all levels of the company. Top management creates the larger organizational strategy, while lower and middle management adopt goals and plans to implement the steps of the overall strategy. In short, we can say that organizational strategy is the implementation of your business plan, so below we will show some business plan strategies (examples) or company strategies (examples):

Business plan strategy: (example) or Company strategy: (example)

Let's look at three examples of specific strategies that can be implemented in business:

Information Technology Strategy

Financial institutions are developing IT strategies to implement multi-factor authentication across all of their customers' systems. The goal of the strategy is to reduce costly security incidents and fraud. This strategy is based on the assumption that multi-factor authentication will be effective against future security threats.

sustainability strategy

Taxi and minibus companies plan to convert their entire vehicle fleet to electric. The goal of the strategy is to reduce energy costs and increase the longevity of the company's operations. This strategy makes assumptions about the future costs of maintaining the power grid, solar panels and facilities.

Bonus or reward strategy

A WordPress plugin developer launched a new plugin, but it seems their customers are finding it too expensive. The developer then decided to offer a free trial period and some free premium extensions to plugin buyers, hoping to balance the value for money.

It's time to sit down with your team and try to gather all the information you need to write a business plan for your company. Remember, in addition to saving time, it will allow you to plan your organization's strategy and reduce future risks.