Elements and Performance Criteria
- Analyse the current situation and evaluate alternatives
- Use a broad range of information sources to identify best practice criteria and examples
- Analyse current performance against best practice to identify improvement and business opportunities
- Identify operating requirements and constraints imposed by internal and external customers and suppliers
- Review and evaluate existing strategic and operating plans to identify opportunities for improvement
- Propose viable alternatives to improve current situation and to exploit opportunities
- Set objectives in alignment with corporate aims
- Prepare a business plan
- Develop a business plan based on agreed business objectives
- Translate business objectives into a feasible strategy
- Address all relevant operations in plans and justify any not addressed
- Identify clear profitability, productivity and performance targets in line with objectives
- Identify financial, physical and human resources requirements to implement strategies
- Include appropriate feedback and customer satisfaction measurement methods in business plan
- Comply with enterprise requirements for business planning
- Identify risks posed by business plans
- Incorporate risk management strategies for identified risks
- Present a business plan to senior management
- Implement and maintain a business plan
- Communicate plan to team, engage team members with the plan and obtain buy in from the team
- Establish action plans, systems and processes to implement business plan
- Conduct measurement programs to assess performance against business plan
- Adjust systems or processes in response to performance variations to maintain business plan
- Conduct regular substantive reviews of systems and processes
- Communicate performance results and issues arising to relevant stakeholders