Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

More documents

Recommendations

Info

Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Page 86cient detail to set the stage for setting goals and eventually developing your tactics. Your responses tothe five questions will lay the foundation for an effective business plan. In order to help you frame yourmission statement, examples taken from the mission statements of the 20 sample companies areprovided.Question 1—In 10 Years, Who Are My Clients and What Am I Selling?The first mission statement question, which you'll answer in Exercise 20, deals with your future clientsand what you'll be selling to them. This question gives you an opportunity to consider the possibility offuture expansion of your products and services as well as your client base. For example, if your currentclient base is the federal government, do you believe you should expand in the future into state andlocal government or the commercial sector? Should your client base take on a global character? If youare strictly a product company, should you consider offering services in the future, or vice versa? It isacceptable, even encouraged, to be visionary regarding the business you will be in 10 years from now.Why put limits on a dream? Examples of responses to Question 1 follow:1. The mission of ABC, Inc., is to provide our Fortune 500 Companies, government, and internationalclients with complete information system solutions, niche data management software products,specialized technology training, and expert advisory services.2. The mission of DEF, Inc., is to provide our commercial, industrial, and government customers withwaste and recycling products and services.3. The mission of GHI, Inc., is to provide our mid-Atlantic construction, industrial, commercial,recycling, and homeowner customers with construction equipment and related products and services.4. The mission of JKL Construction, Inc., is to profitably construct high-quality and energy-efficientcustom residences.Page 875. The mission of MNO, Inc., a world-class provider of information technology solutions, is to provideour worldwide government, commercial, and consumer clients with networks, computer systemintegration, business process reengineering, and software development services and products.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (100 of 219)16.02.2005 13:54:23
Philip Walcoff - "The Fast Forward MBA in Business Planning for Growth"Each of these five responses to the mission statement's first question clearly articulates the company'sclient base and the products and services it offers. Be assured that these five examples don't reflect theclients and offerings of these companies today, but are an expression of their future clients andofferings. As an example, company ABC serves only federal government clients today, but it plans toeventually expand its client base to include large private companies and international government andcommercial organizations. Company MNO currently offers computer systems support, but, as indicated,it plans on considerably expanding its product and service line.EXERCISE 20: DESCRIBE WHO YOUR CUSTOMERSARE AND WHAT YOU'RE SELLING 10 YEARSFROM NOWReview the five sample answers to Question 1 and documentyour own answer in your business plan (see Appendix B).Remember that this is the time to be a little aggressive; don'tbe tied to the clients and offerings your current companyreflects. Describe what you think your products and servicesshould be and what clients you should be serving 10 yearsfrom now.Question 2—In 10 Years, What Value or Benefit Do My Clients Receive from My Products and Services?The second mission statement question, which you'll answer in Exercise 21, deals with the benefits yourclients will derive from yourPage 88future offerings. It's important to understand what you want your future clients to get from doingbusiness with you. What's their payoff? What will the nature of your products and services look like inorder to maximize your client's benefit? Examples of responses to Question 2 follow:1. The benefits our clients derive from our services are that they achieve their objectives better, faster,and more cost-effectively through innovative technological solutions.2. The benefits of our products and services are that in an age of increasing environmental regulation,we provide our customers a single source for handling a broad array of waste-removal and recyclingservices and quality recycled products.file:///C|/Documents and Settings/gasanova/Local Setti...orward_MBA_in_Business_Planning_for_Growth/e-book.html (101 of 219)16.02.2005 13:54:23
Page 5 and 6:
Philip Walcoff - "The Fast Forward
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Page 35 and 36:
Page 37 and 38:
Page 39 and 40:
Page 41 and 42:
Page 43 and 44:
Page 45 and 46:
Page 47 and 48:
Page 49 and 50: Philip Walcoff - "The Fast Forward
Page 99: Philip Walcoff - "The Fast Forward
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
Page 183 and 184:
Page 185 and 186:
Page 187 and 188:
Page 189 and 190:
Page 191 and 192:
Page 193 and 194:
Page 195:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 216 and 217:
Page 218 and 219:
show all

Philip Walcoff - "The Fast Forward MBA in Business Planning for ...

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?