Elements and Performance Criteria
- Analyse the internal and external business environment.
- Determine information requirements and undertake cost-effective research to deliver relevant information.
- Consult with all internal and external stakeholders in the research process.
- Use research to assist in the prediction of social, political, economic and technological developments.
- Identify and seek assistance and advice from appropriate experts when necessary.
- Review and analyse existing or potential internal resources and capabilities.
- Document and analyse business opportunities and obstacles based on valid and reliable market information.
- Review and analyse current and emerging trends and developments for their potential impact.
- Identify existing and potential competitors and allies and document their strengths and weaknesses.
- Explore the potential for joint ventures and strategic alliances.
- Formulate business plans and strategies.
- Create or confirm organisation mission, vision and purpose as the starting point for the business plan in consultation with stakeholders.
- Establish realistic, clearly stated and measurable objectives for the business.
- Develop appropriate strategies and tactics to address objectives across all areas of business operation.
- Identify and include opportunities for strategic business alliances.
- Develop all aspects of the business plan to ensure the business meets relevant legal, social, environmental and ethical obligations.
- Include appropriate action plans and evaluation processes, including key performance indicators.
- Consult with appropriate staff, management and other stakeholders to encourage support for the planning process so that all perspectives are taken into account in development of business plan.
- Implement the business plan.
- Communicate objectives and content of plans in a timely manner to facilitate a clear understanding of the plan, associated activities and individual responsibilities.
- Use appropriate communication and leadership techniques to encourage a team commitment to the business plan.
- Encourage staff to provide ongoing input into the business plan.
- Implement and organise actions detailed in the plan in a cost-efficient manner and according to schedule and contingencies.
- Monitor the business plan.
- Review the business plan regularly and adjust in light of changing circumstances.
- Monitor activities using evaluation methods detailed in business plan on an ongoing basis.
- Identify and analyse successes and performance gaps in terms of cause and effect.
- Implement agreed changes to plans promptly, ensuring timely communication of changes to all stakeholders.
- Report business plan performance in a transparent manner to all stakeholders.