Seven Steps to a Successfull Business Plan

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This book gives you a proven method to help ensure your company’s success. Organizations fail to accomplish their goals for one simple reason: The management story being told is incomplete, inaccurate, and incongruent. This book cuts past the traditional problems of planning and provides management with a documented method of building a simplified business plan that works. You’ll learn how to tell a story that is inclusive of employees and empowers them to participate in the company success....

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Nội dung Text: Seven Steps to a Successfull Business Plan

  1. Seven Steps to a Successful Business Plan
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  3. Seven Steps to a Successful Business Plan Al Coke American Management Association New York • Atlanta • Brussels • Buenos Aires • Chicago • London • Mexico City San Francisco • Shanghai • Tokyo • Toronto • Washington, D.C.
  4. Special discounts on bulk quantities of AMACOM books are available to corporations, professional associations, and other organizations. For details, contact Special Sales Department, AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Tel.: 212-903-8316. Fax: 212-903-8083. Web site: www. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. Library of Congress Cataloging-in-Publication Data Coke, Al. Seven steps to a successful business plan / Al Coke. p. cm. Includes bibliographical references and index. ISBN 0-8144-0648-3 1. Business planning. 2. Strategic planning. 3. Success in business. I. Title. HD30.28 .C6422 2001 658.4'012—dc21 2001033579 ©2002 Alfred M. Coke All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system, or transmitted in whole or in part, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of AMACOM, a division of American Management Association, 1601 Broadway, New York, NY 10019. Printing number 10 9 8 7 6 5 4 3 2 1
  5. Contents List of Figures xxi Introduction: How This Book Can Help You Develop a Powerful Business Plan That Works xxvii The Five Critical Ingredients of a Successful Business Plan xxviii Why the Traditional Planning Models for Building a Business Plan Don’t Work xxviii The Traditional Approach: Good Intentions, Dismal Results xxix The Piecemeal Approach: No Way to Fit the Pieces Together xxix v
  6. vi Contents The Deflected Focus Approach: Falling Short of Your Company’s Real Needs xxx The Three Unique Features of This Book That Will Help You Achieve Your Business Plan Goals xxxi Your Management Story xxxi The Concept of backPlanning xxxii The 5-Page Business Plan xxxii How to Convert Your Goals Into Practical Business Behavior xxxii The Key Questions: The Business Plan Self-Test xxxv 1 How to Create a Compelling Company Story That Inspires Employees to Excel 1 The Company Story: The “Single Most Powerful Weapon” in Preparing a Business Plan 2 The Three Reasons Company Stories Fall Short of Expectations 3 When a Story Is Badly Told 4 When the Story Pieces Don’t Add Up 5 When the Story Isn’t Believable 5 The Antidote to a Badly Managed Story 5 How Slogans Work as Windows Into Your Company 6 Organizational Energy Fields: The Invisible Forces That Hold Your Company Together 10 Fields of Belonging 11 Fields of Challenge 11 Fields of Purpose 12 Fields of Contribution 12
  7. vii Contents The Nine Tools for Generating Effective Business Energy Fields 12 Growing Up to Be What You Don’t Want to Be: The Three Stages of a Company’s Life Cycle 16 Stage 1: Matching the Stage and the Story 17 Stage 2: Growing Your Story 17 Stage 3: Accepting Stagnation of Your Story 20 Summary 21 The Key Questions: Creating Your Company Story 22 The Practical Applications: Bringing Your Company Story to Life 23 2 The Practical Guidelines for Building a Business Plan in Five Pages 25 Defining Your Business Plan 26 How the 5-Page Business Plan Works 27 The Strategic Plan—Forming the Heart of Your Story 28 The Operational Plan—Bringing Your Plan to Life 29 The Organizational Plan—Defining Your Corporate Structure 31 The Resources Plan—Analyzing the Support You Need to Put Your Plan Into Action 32 The Contingency Plan—Taking Evasive Action in a Crisis Situation 34 Tips on Capturing Information and Minimizing Paperwork 36 The Four Unique Phases in a Business Planning Cycle 37 Phase 1: Preparing 39 Phase 2: Planning 40
  8. viii Contents The Bubble-Up Theory: Why Planning From the Bottom Up Doesn’t Work 43 Phase 3: Implementing 44 Phase 4: Sustaining 47 Skills Development 48 Coaching and Communications Training 48 Explaining How Money Works 49 Process Mapping 50 Leadership and Managership Training 52 Summary 53 The Key Questions: Building Your 5-Page Business Plan 54 The Practical Applications: Beginning a Successful Planning Cycle 55 3 Strategic Planning: The Five Critical Considerations That Can Help Your Plan Succeed 57 How to Embrace the Fast-Changing Laws of the Business Universe Into Your Company Story 59 Bad Attitudes: How Organizations Get Into Trouble With Poor Planning 63 Timid Companies: Thinking Small and Failing to Take Risks 63 Arrogant Companies: Three Deadly Excuses for Not Writing a Business Plan 66 How to Choose the Best Time Frame for Developing and Executing Your Story 69 Proactive Long-Term backPlanning 69
  9. ix Contents Predicting the Future Versus Designing the Future 74 Setting Time Frames 75 How to Tell Your Story Effectively With (or Without) Guidance From Top Management 75 Making Assumptions: Benchmarks for Cross-Checking Your Success in the Future 78 Case Study: Comparing Human Resources Functions 80 Summary 82 The Key Questions: Understanding How Critical Issues Influence Your Company’s Story 83 The Practical Applications: Framing the Context of Your Plan 84 4 Vision and Mission: The Two Key Anchors That Add Passion and Purpose to Your Story 85 The Two Crucial Parts of the Visioning Process 87 Techniques That Can Help You Create a Powerful Company Vision 88 Scenario Writing: Where Are You Heading? 88 Keep Your Focus Future-Oriented 89 Add Keywords to Fire the Imagination of Your Employees 90 The Vision Statement: How to Describe Your Company of the Future 91 Don’t Confuse the Message With the Messenger 95 Sharing the Vision: How to Encourage Employee Involvement 96 When to Use Multiple Visions in Your Plan 97
  10. x Contents Rallying the Employees: How to Create Purpose With Your Mission Statement 98 The Three Critical Functions of a Mission Statement: Communicate, Appeal, and Define 99 Why Profit Has Its Place—But Not in Your Mission Statement 105 Mission Analysis: How to Keep It Simple by Defining Your Core Tasks 106 The Specified Task: The Heart of Your Mission 107 The Implied Tasks: Unstated but Essential for Achieving Goals 108 Applying the Mission Analysis 109 How to Convert Your Mission Statement Into Daily Activities 109 Summary 111 The Key Questions: Preparing Vision and Mission Statements 112 The Practical Applications: Writing Your Present and Future Statements 112 5 Strategic Goals, Objectives, and Tasks: How to Set Them and Then Make Them Happen 113 How to Create Strategic Goals That Deliver What You Promise 114 Diagramming Your Vision: Tips on Structuring Your Goals 116 Ford’s Vision Statement (Actual) 116 Ford’s Mission Statement (Hypothetical) 116 Ford’s Strategic Goals (Hypothetical) 117
  11. xi Contents How to Translate Your Vision Into Reality 118 Painting Your Story with Bold Strokes 118 Three Steps for Setting Big, Bold Goals 119 Step 1: Fire Up the Management Team 120 Step 2: Get Leadership to Step Up to the Plate 120 Step 3: Validate Your Strategic Goals 121 Seven Critical Questions to Ask When Setting Goals 122 How to Construct Realistic Goals 123 Four Downsides to Using Mergers and Acquisitions as a Growth Tool 126 Problem 1: Culture Clash 127 Problem 2: The Clash of Management Egos 127 Problem 3: The Human Factor 128 Problem 4: The Process Itself 129 The Bottom, Bottom Line to Mergers and Acquisitions as Growth Vehicles 130 It May Not Work Tomorrow: Why You Need to Rethink Your Business Approach 130 The Strategic Goals Checklist 131 How to Set Critical Objectives 133 Time Factors in Setting Objectives 136 Tasks: How to Focus on What Really Needs to Be Done 137 How to Put Your Goals and Objectives Into Motion 139 Strategies: Big Picture Tools for Accomplishing Your Plan 139 Using Tactics to Reinforce Your Strategies 143 Get Started Writing Strategies and Tactics 144 Summary 145
  12. xii Contents The Key Questions: Breaking Out of Complacency 146 The Practical Applications: Working on Your Strategic Plan 147 6 The Six Driving Forces That Affect Your Business Plan—And How to Focus on the Best One for Your Company’s Needs 149 The Player-Driven Organization: Putting Employee or Customer First 152 The Plans-Driven Organization: Achieving Goals Is the Name of the Game 155 The Process-Driven Organization: Continually Seeking Improvement 159 The Products-Driven Organization: Producing the Best and Staying on Top 161 The Properties-Driven Organization: Making the Most With What You Have 163 The Payoff-Driven Organization: Catering to Status 167 How to Find a Single Focus to Drive Your Company to Success 169 Why the Customer Is Not Always Right 169 How to Use Focus to Clarify Your Mission 171 Shifting Focus: Is It Worth the Effort? 173 The Payoff for Finding a Central Theme in Your Story 174 Summary 174 The Key Questions: Developing Focus 175 The Practical Applications: Finding a Single Focus 175
  13. xiii Contents 7 Corporate Culture: The Four Ingredients That Are Crucial to Your Company’s Success 177 The Three Steps for Developing a List of Core Values 179 Step 1: Determine What’s Really Important 182 Step 2: Explain How to Put Each Value Into Action 183 Step 3: Account for Any Gaps 184 How to Prepare a Clear, Well-Crafted Philosophy Statement 186 Tips for Developing Your Philosophy 189 Make Sure What You Say Is What You Do 191 The Seven Key Operating Principles That Guide Successful Businesses 192 The Principle of Products: Know What You Are Selling 194 The Principle of Profit: Money Matters 195 The Principle of Customer: Continually Replenish Your Base 196 The Principle of Direction: Know Where Your Organization Is Headed 197 The Principle of Structure: Provide Comfort and Stability 199 The Principle of People: Don’t Ignore the Human Factor 199 The Principle of Ethics: You Will Get Caught 200 Thinking Long Term: How to Communicate Your Strategic Intent 203 The Nine Key Actions to Include in Your Strategic Intent Statement 206 Summary 207 The Key Questions: Defining Your Corporate Culture 208
  14. xiv Contents The Practical Applications: Developing Core Values Statements 209 8 How to Build a One-Year Operational Plan That Improves Performance 211 Situational Analysis: The Bridge Between the Strategic Plan and the Operational Plan 213 Analysis of Company Performance 214 Analysis of Competition 215 Analysis of Market and Market Share 216 Analysis of Mission 217 Analysis of Resources 218 Analysis of Drivers 221 Analysis of Structure 222 Analysis of Reference Information 223 The Key Components of an Effective Operational Plan 224 Choose Annual Targets 225 Set Quarterly Performance Measurements 226 Concentrate on Key Tasks 227 Define Tactics 227 Coordinate the Operational Plan 228 Summarize the Short-Term Plan With a Concept of Operation 228 How to Improve Your Operational Plan Efficiency 228 Heat Loss: The Hidden Force That Chips Away at Your Profits 229 Islands of Power: When Control Is Lopsided 232 White Space: When No One Is Held Accountable 235
  15. xv Contents Business Process Mapping: A Practical Tool for Eliminating Corporate Excess 236 The Payoffs From Eliminating Organizational Inefficiencies 238 Summary 239 The Key Questions: Writing Your Operational Plan 240 The Practical Applications: Improving Operational Activities 241 9 Structuring Your Story: How to Develop an Organizational Plan 243 The Five Key Functions of an Organizational Structure 244 Organize Work 245 Provide a Means to Implement Strategies 245 Match Headcount to Responsibility 246 Create a Place Where Employees Feel They Belong 246 Control Costs 248 A Caution When Developing Structure 249 The Six Critical Parts of a Successful Organizational Structure 251 The Six Factors That Shape How Your Organizational Structure Operates 252 Relationship and Approximation Organizations of the Future 255 Structure Without Visible Structure—A Paradox 258 Choosing Your Structure: The Beautiful Solution 260 Summary 263 The Key Questions: Creating Your Organizational Structure 264
  16. xvi Contents The Practical Applications: Developing Your Organizational Plan 265 10 Pulling It All Together: The Resources Plan 267 The Two Major Resources Problems Facing Planners Today 269 Building Your Resources Plan: The Ten Key Elements 271 Staffing Levels: How to Work at Peak Efficiency 272 Information Requirements: How to Gather, Decipher, and Apply Information Effectively 273 Facilities: Too Much Versus Too Little 275 Technology: How to Keep Your Competitive Edge 276 Dollars: Three Significant Behaviors That Affect Your Business Plan Finances 277 Watch Out for the Hockey Stick Approach 278 The Tail Wags the Dog 279 Preventing Post-Planning Veto 280 Untapped Potential: Making the Most of Employees 280 Corporate Culture Adds or Subtracts Resources 280 The Company IQ 281 Energy Sources 281 Story Alignment 282 People Work for Themselves First 283 Creating Employee Excitement Through Learning 283 The Shifting Role of the Employee in Your Story 283 Time: Choose to Squander or Choose to Save 286 Relationships: How Strategic Alliances Spread the Workload 289
  17. xvii Contents Explaining the Inconsistency to Your Employees 290 Image: How to Capitalize on It for Your Company’s Advantage 290 Leadership: Your Number-One Priority 291 The Four Questions for Coordinating Your Resources Plan 292 Who Is in Charge? 293 What Resources Are Needed to Make Your Plan Work? 293 When Will the Resources Be Available? 293 How Will the Plan Be Communicated to the Company? 294 Summary 294 The Key Questions: Supporting Your Business Plan 295 The Practical Applications: Developing a Resources Plan 296 11 Contingency Planning: How to Prepare for the Unexpected 297 Contingency Planning: Preparing for an Unpredictable Future 299 The Five Key Terms Used in Contingency Planning 300 The Two Common Ways That Plans Run Amiss 301 Trend Deviation: When You Miss the Mark 302 Crises: Circumstances Beyond Your Control 302 The Nine Critical Components of a Successful Contingency Plan 302 The Two Tough Questions for Targeting Potential Problems 303 The Five Areas That Are Vital to Your Company’s Well-Being 304
  18. xviii Contents The Six Conditions That Can Trigger the Need for a Contingency Plan 305 Natural Disasters 306 Violence 306 Hijacking 307 Terrorist Attacks 307 Workplace Violence 308 Sudden Shifts in Business Paradigms 308 Disruptive Technology 309 Bad Mental Models 309 The Antidote for Bad Mental Models 310 Unknown Problems 311 Known Potential Problems That Are Ignored 312 Excessive Growth: Too Much, Too Soon 313 The Early Warnings That Can Help Keep You on Track 313 The Six Steps to Diminish the Negative Impact of a Troubled Situation 314 How to React Quickly and Decisively to Disaster Situations 315 Decision Making in a Crisis 315 Damage Control 315 The Seven Rules for Successfully Managing a Contingency Situation 317 Summary 320 The Key Questions: Preparing a Solid Contingency Plan 321 The Practical Applications: Developing Your Contingency Plan 321
  19. xix Contents 12 Implementing and Sustaining Your Business Plan 323 How to Implement Your Plan 325 Monitoring Your Plan to Ensure Compliance 325 Measuring Everyone Against a Business Performance Model 328 Establishing Two Types of Standards of Performance 331 How to Sustain Your Plan: The Four Plan Assurance Activities 332 Business Process Mapping to Improve Your Bottom Line 333 Levels of Processes 335 The Payoffs of Process Mapping 336 The Six Purposes of Process Mapping 337 Process Mapping as a Motivational Tool 339 The Practical Applications of Process Mapping 339 How and Where to Start Process Mapping 340 Connecting Individual Performance With Process Mapping 341 Preliminary Questions Before Process Mapping 343 Process Ownership and Management to Overcome Four Obstacles 343 Using Teams in Process Improvement Activities 345 The Five Organizational Changes to Support the Business Plan 345 Assurances for Leadership and Managership Development 347 The Two Techniques for Skills Training 348 Summary 349 The Key Questions: Implementing and Sustaining Your Business Plan 350



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