Strategic Business Planning

Strategic Business Planning & framework.

Strategic business planning helps a business plan a framework for a business to operate with. Let’s get a deeper understanding of the concept.

  • A strategic business plan describes the company’s mission to serve its customers.
  • It is written for a minimum of three years or two years beyond the current budget year.
  • The plan analyzes a company’s marketing strengths and how they will be exploited.

  • It addresses its weaknesses and how they will be overcome.
  • The plan describes positions on any other issues seen as critical to the long-term health or viability of the business.
  • It describes strategic alliances or business partners that may be crucial to success during the planning period.
  • It also identifies its target markets and pricing strategies.

Without a viable business plan the company runs the risk that is described as “Failing to Plan is Planning to Fail”. With a current and meaningful business plan the company stands its best chance of continued success and achievement.

Support Systems

  • The simplest type of system for operational support is a form, such as a shipping release document, employment or credit applications or a product return authorization.
  • More involved examples of support systems include budgeting, cash forecasting and management, incentive distributions and variance reporting.
  • Usually the most involved system for a small business is the Accounting System.
  • More involved systems usually include some method of automated assistance such as worksheet or even other specialized software.

  • These canned systems are particularly good for non-manufacturing businesses that simply buy and resell items.
  • These systems also manage accounts receivable and accounts payable, customers and vendors, very well.
  • They have the capability of generating excellent managerial reports.

In today’s fast paced business world, relying on an accountant to provide periodic statements of company performance several weeks or even months after the fact is not an acceptable strategy. No matter what the type of business, some type of accounting software package that can capture daily transactions in a real-time environment and be easily operated by in-house personnel is needed.

A small business does not need a giant ten-thousand-page website, but it is important to have simple site that sells your products online and tells people about your company, your products and people. Clearly there are still a lot of small businesses that do not have websites. The reasons could be many, but it mostly comes down to money. They believe that a website is expensive to get and maintain. To me, it is rather surprising how much small business owners believe a website will cost them. In truth, a website can be built for very little money and if you are on a tight budget, you can even get some very efficient and customer-friendly companies to let you pay for the making, managing and annual maintenance of your website in easy monthly or quarterly instalments!

Organizational Structure.

The basic building blocks of organizational structure for a business are as follows:

  • Job Descriptions for managers, supervisors and professionals that detail reporting relationships, mental/physical/special job requirements, skills, duties and responsibilities and standards of performance for each function.
  • An Organizational Chart depicting key functions of company operations and reporting relationships between the functions.
  • An objective Job Performance Evaluation System that measures performance of all employees and encourages continuous improvement.
  • Task and Duty Lists for plant workers, utility personnel and other laborers that detail reporting relationships, physical/mental/special job requirements, skills, duties and responsibilities and standards of performance
  • An Incentive Compensation System for all employees that rewards employees for performing above the standard or budget and does so by sharing a portion of the increased profits.
  • Information Guidelines including an Employee Handbook and a Policies & Procedures Manual that communicate acceptable boundaries and the preferred methods by which employees are expected to operate.

The organization will have structure and purpose when all of these organizational components are in place and being utilized routinely. Employees will know the boundaries of what is expected as acceptable behavior and they will be aware that outstanding performance will be rewarded. They will know where the company is going and what their role is in helping it get there.

Contact HyperEffects, if you want to totally rely on a company for all your website related requirements. We provide free business consultation that is very helpful and enlightening for small business owners to understand the power of technology in today’s world and know how to use it to make money for their business.

Hyper Effects | Grow Your Business

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