Business Analysis Through Finance Strategies
Because you are general business experts, your operations and finance strategies must be thorough and detailed. It is up to your virtual team to determine how to present the information needed in your operations and finance strategies. Be sure to consider the managerial controls and processes that will ensure checks and balances are in place to protect the interests of the investors.
These are important factors to consider as you conduct your research:
A group of angel investors owns 40% of the virtual business.
Each virtual team member was selected to start and operate this virtual business.
The angel investors hold three out of five permanent seats on the board of directors of your virtual business.
The angel investors will provide $100,000 to fund the virtual business.
It is the job of the virtual team to convince the angel investors that you deserve funding for your new virtual business venture.
In this graded discussion, your virtual team will contemplate the operations and finance strategies of your virtual business. To continue developing the strategic business plan, each virtual team member should contribute to this discussion by addressing the following discussion topics:
What are the components of an operations strategy in a strategic business plan?
Discuss the conceptual framework of a service blueprint and explain its importance in the strategic business planning process.
Explain the differences between a sales forecast and an operating budget.
Compare and contrast the use of projected balance sheets, profit and loss, and cash flow statements in the strategic business planning process.
Explain why financial projections in the strategic business planning process are so important to potential investors.
Business Analysis through Finance Strategies
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A strategic business plan will include an operations strategy describing in detail the steps the Canon Developers Company (virtual business) will take to manage its processes to achieve its objectives. The following are a few of the most crucial factors:
* Clarify Canon Developers Company's raison d'être, its guiding principles, and the primary objectives you wish to achieve (Ukko et al., 2019). These guiding principles serve as the foundation for the complete operational plan.
* Describe the company's products and services, paying close attention to the factors that distinguish it from competitors in the market.
* Develop a procedure that can transform inputs into outputs in a dependable, consistent, and easy-to-replicate manner.
A service blueprint is an illustrated representation of a service process that depicts the interaction between customers and service providers and the multiple points of contact between them. Identifying problem areas, enhancement opportunities, and the entire path a customer takes with assistance is possible (Tuffour et al., 2020). With the help of a service blueprint, it is much easier to comprehend how consumers feel and to develop procedures that meet their expectations and deliver value; this is why strategic company planning includes using a service blueprint.
A sales forecast analyzes historical data, current market conditions, and other relevant variables to predict future sales. It serves to ensure the accuracy of the forecast. In a distinct document known as an operating budget, the anticipated expenditures and revenues for a specific period are outlined (Martini et al., 2022). A sales forecast estimates future revenues, whereas an operating budget outlines every expense, from the cost of producing commodities to the cost of advertising and shipping.
In strategic business planning, projections of balance sheets, profit and loss (P&L) statements, and cash flow statemen...
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