Business the plan as strategic object of the company
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CONTENTS
INTRODUCTION1. THEORETICAL ASPECTS OF THE STRATEGIC MANAGEMENT AND BUSINESS PLAN
1.1The notion of strategic management
1.2The essence of business plan
1.3Objectives and functions of business planning
1.4Methodology of developing a business plan
.5Structure of business plan
CHAPTER 2. DEPLOYMENT OF BUSINESS PLAN IN STRATEGIC MANAGEMENT OF THE BANK
2.1Business plan in the bank strategy
2.2Banks business plan structure
2.3 The processs essence of the banks business plan realization
.4 Sequential decision and early implementation stages of projects
CHAPTER 3. PROBLEMS OF BUSINESS PLAN AND THEIR SOLUTIONS
3.1Widely spread mistakes and ways for their improvement
3.2How to improve planning with the help of modern applications
CONCLUSIONOF REFERENCES
INTRODUCTION
business plan
Today the world industry is full of all possible firms, corporations and organizations, but what is that distinctive line that separates and differentiates these organizations one from another? This line can be depicted as a success of a firm. But what shows us that business in this or that firm is going on successfully well? We can answer this question using simple observation data: the demand for products/services of this company (let we call it ABS) is high, consumers are happy to have a deal with ABS - then they create positive reputation, the position of this firm is on the highest level, employees are happy, the working location expanding, and so on. And final question, what leads to this success? The answer is complicated one, but still can be constructively provided:
. The management staff, which should provide the organization with work, focus, persistence, ideas and push.
. Perfectly created strategy of the company
. Business plan for the nearest future.about management staff - it becomes clear, that behind every successful organization there is a successful leader. Strategy of the company is one of the core essences that helps to lead the firm through obstacles and gain profit, good reputation. The last notion is business plan.is important about business plan? A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. A good business plan is the most significant part of running or starting a business, expanding a business or obtaining finance for a business. If a business plan is written properly it is much easier to leave less room for error and failure. While there is no ability to predict everything that can happen in a business future, a good business plan helps to avoid certain pitfalls, overcome obstacles, while anticipating and creating opportunities. Here we see, that business plan is a part of the strategy, that shows the activity and condition of the company from every possible angle in the market, also business plan describes all future actions and possible risks, consumers and suppliers, competitors and stakeholders, profits and failures. Business plan is an accurate guideline of business in the market.to the mentioned above, we can confirm, that any business plan of the company has its direct impact on the successful operation of this company in the market.question of this course work can be identified as Does business plan play significant role in the strategic management of the firm? Relating to this problem, this work will be devoted to the investigation of importance of business plan in the strategic management. The investigation will be conducted using literature search method, which involves reviewing all readily available materials. Also, several companies will be surveyed in order to detect their experience in using business plan and its successful compliance.
CHAPTER 1. THEORETICAL ASPECTS OF THE STRATEGIC MANAGEMENT AND BUSINESS PLAN
.1 The notion of strategic management
of the firm as a scientific direction in the economy emerged in the early XX century. School of scientific management (F. Taylor, H. Gant, X. Emerson), and then classical (administrative) School of Management (A. Fayol, Weber, C. Bernard) highlighted planning as one of the main functions of management. At the same time planning was short-term, and in the form of budgeting and control. It was based on the hypothesize of stability of the external business environment and resource potential of the company, which generally characterized the economy of industrialized countries in the first quarter of last century. In these terms planning of the firms activities was regarded as a preparation of the annual budget of the organization, where carefully were taken into account all income and expenses from business activities. However, the materialization of strategic management as a self-sufficient science has been connected with the new conditions of corporations, there appeared a need for long-term planning and management, aimed at the future. These conditions were determined by:
technological innovations resulting from scientific and technological revolution, which require prediction of new production and technological advances;
saturation of the market in developed countries, which led to increasing competition;
the beginning of globalization of markets, the emergence of transnational corporations, which raised the uncertainty and complexity of the environment of the existence of business.the scientific and methodical literature there are many descriptions to define strategic management, which focus on various aspects of this complex administrative process. However, they all come to one of three approaches:
)the approach, which emphasizes the organizational parameters of the environment (environment analysis). This approach is strongly connected with the methods of strategic planning, is attractive for its simplicity in understanding the sequence of actions of strategic developers. However, when it is applied there is a great danger that the internal opportunities of the organization remain outside the scope of the analysis, although in many cases they can successfully neutralize threats deriving from the external environment;
) the approach based on determining the long-term goals of the organization and the ways of achieving them (goals and means). According to this approach, strategic management - is the direction in decision making theory, which aims to develop an effective strategy or strategies to assist in achieving corporate goals;
) the approach that emphasizes activities to implement the strategy (activity approach). This approach focuses on the sequence of actions for the implementation of strategic management, so it combines two previous ones.modern literature following definitions of a "strategy" meet:
the art of rapid change, the portfolio of initiatives aimed at growing the company and its value;
number of decisions that are driving or shaping force of the majority of actions taken by the company;
set of interrelated activities aimed at achieving a sustainable competitive advantage;
way to create a competitive advantage by implementing distinguishing characteristics;on investigated information about strategy, I have figured out my personal understanding of this term, it is following: in business life under the notion of strategy understood the general concept of how to achieve organizational goals, solve problems confronting it and distributed to the necessary scarce resources. Such concept includes several elements. First of all, this includes system of vision, mission, goals, general and specific objectives. Another element of the strategy - a policy or a set of specific rules of organizational actions aimed at achieving these goals.of a market's corporate strategy of the company - are:
) implementation of strategies (tactics);
) informational strategy;
) human resources strategy;
) marketing strategy;
) financial strategy.company's strategy as a program of action aimed at building and maintaining long-term competitive advantage in target markets reflects the quantitative development of the firm and those internal changes in the firm, which must occur to improve its competitiveness. Firm without a strategy - a set of assets burdened with liabilities.a strategy involves the study of alternative courses of development of the organization, their evaluation and selection of the best strategic alternatives for implementation. It uses special tools, including quantitative methods of forecasting, the development of scenarios for future development, portfolio analysis. Factors influencing the choice of strategy are presented in Appendix 1.it is necessary to point out, the company has strategy, when:
The company is the initiator of innovations and leader in its market segment;
All current activities are planned on the basis of strategic plans and goals;
the whole staff of the company knows and shares the strategic objectives of the organization;
strategy - is the main principle for making investment and other long-term solutions;
every employee knows the extent of his contribution to the achievement of strategic targets of the company (both financial and nonfinancial);
the balanced scorecard system successfully implemented;
balanced scorecard resource substantiated and supplemented by a system of employee motivation, lets consider the main essence of business plan and its role in the strategic management.
.2 The essence of business plan
preparing for battle I have always found that plans are useless, but planning is indispensable.Eisenhower,General and President
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