This paper compares and contrasts three types of business planning. Using the dimensions of start-up vs internal, growth vs strategic and feasibility vs operations, these three articles examines common elements as well as contrasting orientations of the different perspectives to business planning offered by the various authors. A business planning type is suggested for the author’s agro-business, based on the company’s profile, sector factors and product type.
Start-Up Vs Internal Business Planning
Paige (n.d.) stated that a startup business plan is one that can be adopted to start a new business, which include a section about the organization, it’s product or service offering, market evaluation, projected management team, financial analysis …show more content…
It is also a plan that could be adopted at the level of departments within an entire organization.
Growth Vs Strategic Business Planning
Developed against the background of consultancy work in the healthcare industry, Price and Meyers (2006) designed the 12-step plan “to increase the success rate for implementing innovation and creating new revenue streams” (p.52). This appears to be a guide to help in the development and effective commercialization of innovative ideas within the organization. From idea generation through market validation and plan execution, the authors emphasized the need to work within the existing strategic business orientation and the culture of the organization.
Theirs appears to be a plan that aims to complement an organization’s existing platform, rather than a completely new …show more content…
Market and Competition Analysis: Specific product criteria; major players in the sector, practices and orientation of the competition; competition strengths and weaknesses.
Product development and marketing: The means and timeline needed to develop the product for the market; how sales are to be conducted.
Company design and operation: How the business will function as an entity; projected structure, personnel; and levels of responsibility and accountability.
Resources and Funding: Sources of financing; expected financial needs and potential challenges; and projected profits.
Start-Up Vs Internal Business Planning
Paige (n.d.) stated that a startup business plan is one that can be adopted to start a new business, which include a section about the organization, it’s product or service offering, market evaluation, projected management team, financial analysis …show more content…
It is also a plan that could be adopted at the level of departments within an entire organization.
Growth Vs Strategic Business Planning
Developed against the background of consultancy work in the healthcare industry, Price and Meyers (2006) designed the 12-step plan “to increase the success rate for implementing innovation and creating new revenue streams” (p.52). This appears to be a guide to help in the development and effective commercialization of innovative ideas within the organization. From idea generation through market validation and plan execution, the authors emphasized the need to work within the existing strategic business orientation and the culture of the organization.
Theirs appears to be a plan that aims to complement an organization’s existing platform, rather than a completely new …show more content…
Market and Competition Analysis: Specific product criteria; major players in the sector, practices and orientation of the competition; competition strengths and weaknesses.
Product development and marketing: The means and timeline needed to develop the product for the market; how sales are to be conducted.
Company design and operation: How the business will function as an entity; projected structure, personnel; and levels of responsibility and accountability.
Resources and Funding: Sources of financing; expected financial needs and potential challenges; and projected profits.