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succinctly put it – all plans disintegrate on contact with the enemy。 So
three… to five…year business plans need to be reviewed fundamentally each
year and progress monitored at least quarterly。
Preparing business plans is a task that MBAs are invariably expected
to be able to carry out。 It calls for the broad level of understanding of all
aspects of the business – cash flow； profit margins； funding issues； marketing
and selling； staffing and structures； production； operations； research and
development； supply chain etc – that few others in the organization are
likely to have。 It is an opportunity for an MBA to broaden and deepen
their relationships with all key executives as well as the board of directors。
So o。。en tedious and always time consuming； the task of preparing business
plans should be weled as a career progression opportunity par
excellence。
Structure of the business plan
The plan is in essence the route map from where the business is to where
it wants to get and how it will go about ge。。ing to its destination – the
roles and responsibilities of key players； the resources required in terms
of money； people and materials and so forth。 While there is much debate
about exactly what should go into the business plan and how it should be
laid out； there is no doubt that it is the essential tool for ensuring that a
well…thought…out strategy is executed successfully too。
This is the suggested general layout for a business plan as used on
the MBA programme at Cranfield and； from observation at international
business plan petitions； seems to be fairly universal。
Executive summary
This is the most important part of the plan and will form the heart of any
presentation to the board； shareholders or prospective investors。 Wri。。en
Strategy 275
last； this should be punchy； short – ideally one page but never more than
two – and should enthuse any reader。 Its primary purpose is to excite and
inspire an audience to want to read the rest of the business plan。
The executive summary should start with a succinct table showing past
performance in key areas and future objectives。 This will give readers a
clear view of the business’s capacity to perform as well as the scale of the
task ahead （Table 12。1）。
Table 12。1 Executive summary – history and projections
Last
year
This
year
Business area Year 1 Year 2 Year 3
etc
Sales turnover by product/service
1。
2。 etc
Total sales
Gross profit％
Operating profit ％
Total staff nos
Sales staff nos
Capital employed
Return on capital employed ％
Then the executive summary should continue with sections covering the
following areas：
。 what the primary products/services are and why they are be。。er or
different from what is around now；
。 which markets/customer groups will most need what you plan to offer
and why；
。 how close you are to being ready to sell your product/service and what
if anything remains to be done；
。 why your organization has the skills and expertise to execute this
strategy and if new or additional people are required； who they are or
how you will recruit them；
。 financial projections showing in summary the sales； profit； margins and
cash position over the next three to five years；
。 how the business will operate； sketching out the key steps； from buying
in any raw materials through to selling； delivering and ge。。ing paid；
。 what physical resources – equipment； premises – the plan calls for。
276 The Thirty…Day MBA
The contents – putting flesh on the bones
Unlike the executive summary； which is structured to reveal the essence of
your business proposition； the plan itself should follow a logical sequence
such as this：
。 Vision： A vision’s purpose is to stretch the organization’s reach beyond
its grasp。 Generally； few people concerned with the pany can now
see how the vision is to be achieved； but all concerned agree that it
would be great if it could be。 Once your vision bees reality it may
be time for a new challenge； or perhaps even a new business。
。 Mission： A mission statement explains concisely what you do； who you
do it for and why you are be。。er or different from others operating in
your market。 It should be narrow enough to give focus yet leave enough
room for growth。 Above all； it should be believable to all concerned。
。 Objectives： These are the big picture numbers such as market share；
profit； return on investment that are to be achieved by successfully
executing the chosen strategy。
。 Marketing： This section provides information on the product/service
on offer； customers and the size of the market； petitors； proposed
pricing； promotion and selling method。
。 Operations： This area covers any processes such as manufacture； assembly；
purchasing； stock holding； delivery/fulfilment and website。
。 Financial projections： Detailed information on sales and cash flow for
the period of the plan； showing how much money is needed； for what；
by when and what would be the most appropriate source of those funds：
long… or short…term borrowings； equity； factoring or leasing finance； for
example。
。 Premises： What space and equipment will be needed and how your
home will acmodate the business while staying within the law。
。 People： What skills and experience you have on board that will help run
this business and implement the chosen strategy； what other people
you will need and where you will find them。
。 Administrative ma。。ers： Do you have any IP （intellectual property） on
your product or service； what insurance will you need； what changes if
any will be needed to the accounting and control and record systems。
。 Milestone timetable： This should show the key actions you have still to
take to be ready to achieve major objectives and the date these will be
pleted。
。 Appendices： Use these for any bulky information such as market
studies； petitors’ leaflets； customer endorsements； technical data；
patents； CVs and the like that you refer to in your business plan。
All these topics are covered in this book and by using the index and table of
contents you can find your way to t