1 Business Planning Park View Business & Enterprise School

To assist Park View with their Business Planning Process by:-: Looking at the components of a business plan How we undertake an analysis of a business plan and the management team behind the business. Dave Mallard thought that this would be useful in the context of:- –Submitting a business plan for the award of Academy status. – The ongoing business planning process post Academy status Background

Outlines your vision for the future of a business / organisation Analyses where you are now, and where you want to be by a given date Maps out how you intend to get to where you want to be What does a Business Plan do?

Only 30% of SME’s have a business plan Business Plan Fact

A good business plan will:- Provide direction and an action plan Keep the management team and staff focussed Demonstrates the seriousness of your intentions to external stakeholders i.e. parents, Department for Education Enables the early identification of problems and the appropriate action to be taken. Set targets and enable you to measure success What does a good business plan look like?

It should be an EVOLVING and LIVING document that should be reviewed Regularly and as a minimum on an Annual basis. What does a good business plan look like?

Mission Statement / Purpose Why does your business / organisation exist? Lloyds Bank’s Mission Statement To be the best bank for customers. Becoming the best bank for customers means being the best bank for families, for businesses, for our people, for investors and for our communities. A Business Plan should address

Objectives Where do you want to take your business? e.g. 1.Deliver post 16 education 2.Open a new campus 3.Greater community cohesion 4.85% of pupils 5+ Grades A* - C GCSE’s. A Business Plan should address

Strategy How you are going to get there and should take account of:- Economic and market conditions The staff, facilities and equipment Trends and emerging technologies What differentiates you from your competitors A Business Plan should address

Finances What financial resources are required Profit Projections Balance sheet Cashflow Forecasts A Business Plan should address

Rigorous testing of:- 1.The business model and strategy 2.Market and Market sector that they operate in 3.Competitors 4.Financial projections 5.Management team capability 6.Downside sensitivities How do we assess Business Plans

We look at 4 key areas 1.Vision 2.Plan 3.Competence 4.Measurement How did we assess a Management Team

Most important part of a strategic plan, it should be led by the CEO In an ideal word a company / organisation should have An articulated vision A vision that clearly quantifies the aspirations of the key stakeholders i.e. pupils, parents, regulators, staff It is part of the Strategic Planning process Vision

Delivers the Vision – Management’s responsibility Comprehensive plan exists i.e. min 3 years duration Covers all activities of the organisation Each strategy drilled down to a series of tasks, with people accountable for achievement Plan

Risk analysis is part of the plan Strategic plan drives the 1 year business plan and budgets Clear evidence of the Plan’s use Stakeholders regularly informed of progress in meeting Plan Leadership Team demonstrates clear commitment to the Plan Plan

Only 5% of the 30% of SME’s that have a business plan have a Plan B Business Plan Fact

Leadership team deemed to be collectively capable of delivering the plan Team well-balanced in terms of types and good blend of relevant experience KPI’s reviewed regularly and performance monitored on an ongoing basis Competence

Leadership Team recognise value of external help and use Governors where appropriate Clear lines of communications with all stakeholders and interested parties Competence

What gets measured gets done!! Sufficient MI in place and working Leadership Team use MI to manage, control and meet plan MI is used to keep stakeholders informed. Measurement

All staff and stakeholders aware of personal, departmental and organisational performance Measurement