Facilitating the delivery of the Strategic Business Plan and 3-5 year forecasts which outline the Board’s vision and strategy and includes a implementation plan for executive management
One of the key roles of the Board is to oversee the development of the Business Plan, which becomes a blueprint of the business’ future and encompasses objectives, structure, strategies and financial forecasts.
A properly executed strategic planning process goes further than a "one off" workshop, and involves the Board and management in an in-depth strategic review and strategic option evaluation.
Plans, supported by robust financial modelling and financial projections, become an integral part of the Board's oversight of the business, whilst action plans become part of executive management’s objectives.
There is the potential that government grant funding is available to subsidise the planning process. The grant application process can be incorporated into the assignment.
Key components of the business planning process:
A formal business plan suitable for Board adoption and an implementation workplan for executive anagement.
Financial forecasts, supported by robust financial models, which can then be used for budgeting and evaluating future strategic options.
A clear understanding amongst the Board and executive management that a path forward has been selected, evaluated and approved at Board level.