business plan

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business plan by Mind Map: business plan

1. strategic planning

1.1. done by top management (e.g. chief executive)

1.1.1. Neue Idee

1.2. matches firm's resources (financial assets) and capabilities (due to expertise+experience) to its market opportunities

1.2.1. --> long-term growth

1.3. defines firm's hopes considering achievements in next years

1.3.1. Neue Idee

1.4. occurs at overall corporate level and individual business unit level

1.5. mission statement = formal document describing main purposes+hopes to achieve in regard to customer

1.6. Internal/external Environment

1.6.1. Internal = all controllable elements inside a firm

1.6.1.1. strenghts and weaknesses are often in firm's employees (=human+intellectual capital)

1.6.2. External = elements outside the firm, not controllable

1.6.2.1. global --> to consider political, economic, sociocultural, technology, legal and environmental trends

1.6.2.1.1. --> PESTLE analysis

1.6.2.1.2. economic health

1.6.2.1.3. Level of economic development

1.6.2.1.4. Business Cycle

1.6.2.1.5. competition

1.6.2.1.6. sociocultural environment

2. functional planning

2.1. done by functional directors

2.2. = broad 5-year plan to support firm's strategic plan + detailed annual plan for coming year

2.3. perfom situation analysis, set goals, develop/implement and then control marketing strategies

3. operational planning

3.1. done by first-line managers (e.g.sales managers)

3.2. focus on day-to-day execution of functional plans

3.3. includes annual, semi-annual, quarterly plans

4. Marketing Planning

4.1. implementation phase

4.1.1. to make or break firm's succes

4.2. control

4.2.1. 1. measuring actual performance

4.2.2. 2. comparing performance to established marketing objectives

4.2.3. 3. making adjustments to objectives/strategies

4.3. ROMI (return on marketing investment)

4.4. responsibilities --> many sectors (customer service, finance, IT..)

4.5. time line

4.6. budget

5. BCG growth-market share matrix

5.1. to generate cash which then can be invested in other businesses

6. Neue Idee