Identifying and Managing High Priority Risks within the Business Plan


Added on  2019-09-19

28 Pages4332 Words64 Views
Leadership ManagementDesign and CreativityPolitical Science
(company name)
for Period
July 2015 to December 2017
(dates are examples only)
Created/Approved by (name), (position), on (date)
Update Status: (amendment number), on (date)
Identifying and Managing High Priority Risks within the Business Plan_1

Executive Summary
Section Page
1. Strategic Focus
2. The Business
3 Market Analysis
4 Products
5 Marketing
6 Research and Development
7 Production and Delivery
8 Supply Chains
9 Business Systems and Processes
10 Stakeholder Relationships and Alliances
11 Organisational and Management
12 Environmental and Social Impacts
13 Risk Factors and Regulatory Compliance
14 Corporate Governance
15 Financials
16 Application of Investment Funds
17 Strategic Action Plan
18 Plan Improvement
Identifying and Managing High Priority Risks within the Business Plan_2

Some Thoughts on Writing this Plan
before We Start
Clearly identify the readers of this document. Then write the plan in a style
that is easily understood by readers
Remember that this plan is a working document that has the clear purpose
of initiating focussed action and generating clear and measurable results.
Avoid the excessive use of descriptive adjectives to 'pad' or over-sell the
plan. Flowery, highly descriptive language can cloud key issues, blur the
plan's focus and slow/confuse its implementation
Keep the plan 'tight'; ensure it remains concise, balanced, clear and logical.
Where possible use quantitative rather than qualitative information.
Remember the KISSS approach to planning; keep it simple, short and
specific. Interlink all Sections, with the Market Analysis providing a clear
focus for all subsequent sections.
Focus on facts and information from credible and reputable sources.
Where possible avoid critical dependencies on one source of information.
Build redundancy in to information sources. Validate, validate, validate all
key information used in the plan
Always remember that faulty assumptions and faulty logic are some of the
greatest hazards to business performance and business planning. Also
remember that a good plan implemented today will always beat an
excellent plan implemented some time in the future. So, get the plan
completed and in to action as soon as is practicable. Also, plans must be
adaptive to changing circumstances. If the plan is not performing be
prepared to complete 'major surgery' on it.
Some Thoughts on a Format for Each Section
The following is a simple, but effective planning format that will fit many of
the sections in this plan. The format is not rigid and should be adapted to the
requirements of individual Sections as applicable. The four sub-sections that
comprise the format are as follows:
Current Situation
Clearly and concisely present the current situation with any contributing
history, and any trends, cycles, changes or future developments that are
Key Issues
Clearly define the most urgent and important issues as they relate to the
current situation for this Section, and the overall purpose of this plan and the
company's Mission. Key issues are usually those strengths, weaknesses,
opportunities, threats, capability gaps and impediments that impact on
business performance
Identifying and Managing High Priority Risks within the Business Plan_3

Strategies to Address the Key Issues
Formulate strategies using the SMAAART acronym to address the key issues.
SMAAART - Specific, Measurable, Action-orientated, Achievable, Affordable,
Relevant and Time-bound
Key Performance Measures and Targets
Establish key performance measures/indicators, performance targets and time
lines in conjunction with the strategies to assess and improve performance
Five Tests for a Good Strategic Business Plan
Am I satisfied that all readers of this plan will clearly understand it?
Am I satisfied that the strategic/business directions proposed are
aligned with the company's constitution?
Am I satisfied that the strategic/business directions proposed are of
a nature and quality that should ensure the future?
Am I satisfied that:
* All company implications of the strategic/business directions
proposed have been considered thoroughly,
* Implementation is possible, and
* All supporting goals, objectives and strategies are realistic,
practically achievable, affordable and comprehensive?
Am I satisfied that:
Identifying and Managing High Priority Risks within the Business Plan_4

* Management accountability is clearly defined,
* Management is adequately resourced and well prepared to
implement this plan,
* Effective remedial action has been planned in the event a
management shortcoming occurs with plan implementation?
Identifying and Managing High Priority Risks within the Business Plan_5

The Executive Summary is the last section written. It should be restricted to
two to three pages in length. In essence the Executive Summary is a very
effective distillation of the overall business plan into a 'hard hitting' summary
of key performance initiatives and performance targets. Typically it would
include the following:
The Business Opportunity
The Product
The Market Strategy
The Management Team
Profit and Cash Projections
Investment Needs
Returns to Investors
Identifying and Managing High Priority Risks within the Business Plan_6

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