organization of business plans

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

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Business Plan Example and Template

Learn how to create a business plan

What is a Business Plan?

A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing .

A business plan should follow a standard format and contain all the important business plan elements. Typically, it should present whatever information an investor or financial institution expects to see before providing financing to a business.

Contents of a Business Plan

A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan:

1. Title Page

The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date, and the company logo.

2. Executive Summary

The executive summary is the most important section because it is the first section that investors and bankers see when they open the business plan. It provides a summary of the entire business plan. It should be written last to ensure that you don’t leave any details out. It must be short and to the point, and it should capture the reader’s attention. The executive summary should not exceed two pages.

3. Industry Overview

The industry overview section provides information about the specific industry that the business operates in. Some of the information provided in this section includes major competitors, industry trends, and estimated revenues. It also shows the company’s position in the industry and how it will compete in the market against other major players.

4. Market Analysis and Competition

The market analysis section details the target market for the company’s product offerings. This section confirms that the company understands the market and that it has already analyzed the existing market to determine that there is adequate demand to support its proposed business model.

Market analysis includes information about the target market’s demographics , geographical location, consumer behavior, and market needs. The company can present numbers and sources to give an overview of the target market size.

A business can choose to consolidate the market analysis and competition analysis into one section or present them as two separate sections.

5. Sales and Marketing Plan

The sales and marketing plan details how the company plans to sell its products to the target market. It attempts to present the business’s unique selling proposition and the channels it will use to sell its goods and services. It details the company’s advertising and promotion activities, pricing strategy, sales and distribution methods, and after-sales support.

6. Management Plan

The management plan provides an outline of the company’s legal structure, its management team, and internal and external human resource requirements. It should list the number of employees that will be needed and the remuneration to be paid to each of the employees.

Any external professionals, such as lawyers, valuers, architects, and consultants, that the company will need should also be included. If the company intends to use the business plan to source funding from investors, it should list the members of the executive team, as well as the members of the advisory board.

7. Operating Plan

The operating plan provides an overview of the company’s physical requirements, such as office space, machinery, labor, supplies, and inventory . For a business that requires custom warehouses and specialized equipment, the operating plan will be more detailed, as compared to, say, a home-based consulting business. If the business plan is for a manufacturing company, it will include information on raw material requirements and the supply chain.

8. Financial Plan

The financial plan is an important section that will often determine whether the business will obtain required financing from financial institutions, investors, or venture capitalists. It should demonstrate that the proposed business is viable and will return enough revenues to be able to meet its financial obligations. Some of the information contained in the financial plan includes a projected income statement , balance sheet, and cash flow.

9. Appendices and Exhibits

The appendices and exhibits part is the last section of a business plan. It includes any additional information that banks and investors may be interested in or that adds credibility to the business. Some of the information that may be included in the appendices section includes office/building plans, detailed market research , products/services offering information, marketing brochures, and credit histories of the promoters.

Business Plan Template

Here is a basic template that any business can use when developing its business plan:

Section 1: Executive Summary

• Present the company’s mission.
• Describe the company’s product and/or service offerings.
• Give a summary of the target market and its demographics.
• Summarize the industry competition and how the company will capture a share of the available market.
• Give a summary of the operational plan, such as inventory, office and labor, and equipment requirements.

Section 2: Industry Overview

• Describe the company’s position in the industry.
• Describe the existing competition and the major players in the industry.
• Provide information about the industry that the business will operate in, estimated revenues, industry trends, government influences, as well as the demographics of the target market.

Section 3: Market Analysis and Competition

• Define your target market, their needs, and their geographical location.
• Describe the size of the market, the units of the company’s products that potential customers may buy, and the market changes that may occur due to overall economic changes.
• Give an overview of the estimated sales volume vis-à-vis what competitors sell.
• Give a plan on how the company plans to combat the existing competition to gain and retain market share.

Section 4: Sales and Marketing Plan

• Describe the products that the company will offer for sale and its unique selling proposition.
• List the different advertising platforms that the business will use to get its message to customers.
• Describe how the business plans to price its products in a way that allows it to make a profit.
• Give details on how the company’s products will be distributed to the target market and the shipping method.

Section 5: Management Plan

• Describe the organizational structure of the company.
• List the owners of the company and their ownership percentages.
• List the key executives, their roles, and remuneration.
• List any internal and external professionals that the company plans to hire, and how they will be compensated.
• Include a list of the members of the advisory board, if available.

Section 6: Operating Plan

• Describe the location of the business, including office and warehouse requirements.
• Describe the labor requirement of the company. Outline the number of staff that the company needs, their roles, skills training needed, and employee tenures (full-time or part-time).
• Describe the manufacturing process, and the time it will take to produce one unit of a product.
• Describe the equipment and machinery requirements, and if the company will lease or purchase equipment and machinery, and the related costs that the company estimates it will incur.
• Provide a list of raw material requirements, how they will be sourced, and the main suppliers that will supply the required inputs.

Section 7: Financial Plan

• Describe the financial projections of the company, by including the projected income statement, projected cash flow statement, and the balance sheet projection.

Section 8: Appendices and Exhibits

• Quotes of building and machinery leases
• Proposed office and warehouse plan
• Market research and a summary of the target market
• Credit information of the owners
• List of product and/or services

Related Readings

Thank you for reading CFI’s guide to Business Plans. To keep learning and advancing your career, the following CFI resources will be helpful:

• Corporate Structure
• Three Financial Statements
• Business Model Canvas Examples
• See all management & strategy resources
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Business Plan Section 3: Organization and Management

This section explains how your business runs and who’s on your team. Learn how to present the information in this section of your business plan.

This section of your business plan, Organization and Management, is where you’ll explain exactly how you’re set up to make your ideas happen, plus you’ll introduce the players on your team.

As always, remember your audience. If this is a plan for your internal use, you can be a little more general than if you’ll be presenting it to a potential lender or investor. No matter what its purpose, you’ll want to break the organization and management section into two segments: one describing the way you’ve set up the company to run (its organizational structure), and the other introducing the people involved (its management).

Business Organization

Having a solid plan for how your business will run is a key component of its smooth and successful operation. Of course, you need to surround yourself with good people, but you have to set things up to enable them to work well with each other and on their own.

It’s important to define the positions in the company, which job is responsible for what, and to whom everyone will report. Over time, the structure may grow and change and you can certainly keep tweaking it as you go along, but you need to have an initial plan.

If you’re applying for funding to start a business or expand one, you may not even have employees to fit all the roles in the organization. However, you can still list them in your plan for how the company will ideally operate once you have the ability to do so.

Obviously, for small businesses, the organization will be far more streamlined and less complicated than it is for larger ones, but your business plan still needs to demonstrate an understanding of how you’ll handle the workflow. At the very least, you’ll need to touch on sales and marketing, administration, and the production and distribution of your product or the execution of your service.

For larger companies, an organizational plan with well-thought-out procedures is even more important. This is the best way to make sure you’re not wasting time duplicating efforts or dealing with internal confusion about responsibilities. A smooth-running operation runs far more efficiently and cost-effectively than one flying by the seat of its pants, and this section of your business plan will be another indication that you know what you’re doing. A large company is also likely to need additional operational categories such as human resources and possibly research and development.

One way to explain your organizational structure in the business plan is graphically. A simple diagram or flowchart can easily demonstrate levels of management and the positions within them, clearly illustrating who reports to whom, and how different divisions of the company (such as sales and marketing) relate to each other.

Here is where you can also talk about the other levels of employees in your company. Your lower-level staff will carry out the day-to-day work, so it’s important to recognize the types of people you’ll need, how many, what their qualifications should be, where you’ll find them, and what they’ll cost.

If the business will use outside consultants, freelancers, or independent contractors, mention it here as well. And talk about positions you’d want to add in the future if you’re successful enough to expand.

Business Management

Now that we understand the structure of your business, we need to meet the people who’ll be running it. Who does what, and why are they onboard? This section is important even for a single practitioner or sole proprietorship, as it will introduce you and your qualifications to the readers of your plan.

Start at the top with the legal structure and ownership of the business. If you are incorporated, say so, and detail whether you are a C or S corporation. If you haven’t yet incorporated, make sure to discuss this with your attorney and tax advisor to figure out which way to go. Whether you’re in a partnership or are a sole owner, this is where to mention it.

List the names of the owners of the business, what percent of the company each of them owns, the form of ownership (common or preferred stock, general or limited partner), and what kind of involvement they’ll have with day-to-day operations; for example, if they’re an active or silent partner.

Here’s where you’ll list the names and profiles of your management team, along with what their responsibilities are. Especially if you’re looking for funding, make sure to highlight the proven track record of these key employees. Lenders and investors will be keenly interested in their previous successes, particularly in how they relate to this current venture.

Include each person’s name and position, along with a short description of what the individual’s main duties will be. Detail his or her education, and any unique skills or experience, especially if they’re relevant to the job at hand. Mention previous employment and any industry awards or recognition related to it, along with involvement with charities or other non-profit organizations.

Think of this section as a resume-in-a-nutshell, recapping the highlights and achievements of the people you’ve chosen to surround yourself with. Actual detailed resumes for you and your management team should go in the plan’s appendix, and you can cross-reference them here. You want your readers to feel like your top staff complements you and supplements your own particular skill set. You also want readers to understand why these people are so qualified to help make your business a success.

This section will spell out the compensation for management team members, such as salary, benefits, and any profit-sharing you might be offering. If any of the team will be under contract or bound by non-compete agreements, you would mention that here, as well.

If your company will have a Board of Directors, its members also need to be listed in the business plan. Introduce each person by name and the position they’ll hold on the board. Talk about how each might be involved with the business (in addition to board meetings.

Similar to what you did for your management team, give each member’s background information, including education, experience, special skills, etc., along with any contributions they may already have had to the success of the business. Include the full resumes for your board members in the appendix.

Alternately, if you don’t have a Board of Directors, include information about an Advisory Board you’ve put together, or a panel of experts you’ve convened to help you along the way. Having either of these, by the way, is something your company might want to consider whether or not you’re putting together the organization and management section or your business plan.

NEXT ARTICLE > Business Plan Section 4: Products and Services

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Business Plan Organization and Management: How to Write Guide .

Sep 17, 2023 | Business Consulting , Business Plan , Organization and Management , Organizational Development , Strategy

Writing the Business Plan Organization and Management Section

It provides critical information for those looking for evidence that your staff has the necessary experience, skills, and pedigree to realize the objectives detailed in the rest of your business plan.

What Is the Organization and Management Section in a Business Plan?

The organization and management section of your business plan should provide details about your business structure and team. This section typically comes after the executive summary. However, some people have it further in the document after the market analysis section.

This section generally is separated into two parts. The first concerns the organization as a whole. It gives readers an overview of the company structure, which is an excellent opportunity for the reader to lift the roof off your office and peer into its inner workings. For your legal design, you may set up as a limited liability company (LLC) or nonprofit/ charity or form a partnership. It’s crucial to include this section. However, suppose you’re starting a home business or have an already operating business where you’re the only person involved. In that case, you can skip this section or show the company registration details from either the company’s house or the awarding .gov.

The second part focuses specifically on your management team and introduces readers to each member — your chance to impress them with the many accomplishments pinned to your organization’s management team.

This section may seem less important than some of the other parts of your business plan, but the truth is that your people are your business. If they’re highly competent and accomplished, the implication is that so is your business.

Of course, if you’re a sole proprietor with no management structure or any employees, this section is unnecessary other than to talk about yourself and your achievements.

The section on organization and management should outline the hierarchy, individual roles, and corresponding responsibilities. It should also highlight each person’s strengths and qualifications for their positions.

Business Plan Organization Section

The organizational section of your business plan outlines the hierarchy of individuals involved in your business, typically in a chart format. This section identifies the President or CEO, CFO, Director of Marketing, and other roles for partnerships or multi-member LLCs. If you’re a single-person home business, this section is straightforward as you are the only person on the chart.

Although this section primarily focuses on owner members, you can include outsourced workers or virtual assistants if you plan to hire them. For example, you may have a freelance web admin, marketing assistant, or copywriter. You may even have a virtual assistant who coordinates with your other freelancers. While these individuals are not owners, they hold significant responsibilities in your business.

There are various business structures, such as sole proprietorships, partnerships, LLCs, and corporations.

Detail the Legal Structure within the Business Plan Organization and Management Section

Here is an indicative list of business structures. It would help if you talked to your accountant and legal advisors to determine which legal form is the best for your business proposition.

Sole Proprietorship

When embarking on a business venture, it’s essential to consider the various structures available. A sole proprietorship is a structure whereby the business is not regarded as separate from its owner’s finances. The owner retains complete control and responsibility for the company. However, they are unable to sell stocks or bring in new owners. The business becomes a sole proprietorship if not registered under any other structure.

Partnership

When forming a partnership, it can either be a limited partnership (LP) or a limited liability partnership (LLP). One partner assumes most liability in a limited partnership (LP). In contrast, the other partners have limited liability and control over the business. Alternatively, in a limited liability partnership (LLP), all partners have limited liability from debts and actions of other partners, and there is no general partner.

Limited Liability Company

A limited company (LTD) or limited liability company (LLC) is a mixture of business structures that mixes aspects of partnerships and corporations. It offers limited personal liability to the owner and passes profits through to their tax returns.

Corporation

There are various types of corporate structures. A C-corporation enables the issuance of stock shares, pays corporate taxes instead of personal returns, and provides the highest level of personal protection from business activities. On the other hand, nonprofit corporations are similar to C corporations. However, they do not aim to make profits and are exempt from state or federal income taxes.

More information on company legal structures is available on UK.Gov and USA.SBA websites.

Describe Your Company’s Organizational Structure

This first step illustrates the positions in your organization’s employee hierarchy and how they all relate to each other.

This is usually done graphically as a guide, using an organizational chart, or “org chart” for short. People use a Microsoft tool, i.e., PowerPoint or Excel, to help.

Organization Charts typically follow a top-down hierarchy, starting with your CEO/ Managing Director in the top box at the top of the page. Lines extend down from that person’s name to boxes containing the terms of the CEO’s direct reports.

We have included an example organizational chart below for guidelines only.

Identify your business organization structure and list your team members’ strengths and skills.

Those managers then have lines extending to those who report to them, and so on, down to your lowest staff positions.

This section will give your readers a quick understanding of your management and governance structure, the size of your organization, and your lines of control and communication.

Describe your Team in your Business Plan Organization and Management Section

In your business plan’s Organization and Management section, please provide a detailed description of your team. Y ou will discuss the company’s management team, starting with the owners.

This section highlights who is involved in the running of your business and who are the support professionals. It also includes the roles and responsibilities of managers.

Suppose the company structure is a multi-owner arrangement or some other multi-owner arrangement. In that case, you’ll want to include information for every member and their percentage of ownership and ongoing involvement in the company.

It’s important to discuss how ownership interests are split, their responsibilities, what they did before securing their current position, and how they came to be involved with the company.

Here, it would help if you talked about some of your critical team members. These people are directly responsible for large portions of your business operations.

Owner/Manager/Members

Within your business o rganization and management section, y ou should introduce the team and talk about their experience, qualifications, previous companies and achievements, role in the company, and any special skills they bring with them. Please provide the following details for each owner, manager, or member of the business within your business plan:

• Percentage of ownership (if applicable)
• Level of involvement (active or silent partner)
• Type of ownership (e.g., stock options, general partner)
• Position in the company (CEO, CFO, etc.)
• Responsibilities and Duties
• Educational background
• Relevant experience and skills
• Previous employment history
• Skills that will benefit the business
• Awards or recognition received
• Compensation structure
• How each individual’s skills and experience will complement and contribute to the business’s success

Perhaps they’re an entrepreneur, business coach, exclusive advisor, or industry specialist to help you grow.

This is an ideal opportunity for companies with an Executive Board of Directors, Governance Structure, or Advisory Board to introduce them to your readers.

Executive Board

Having a board of directors is essential for your management team. Without one, you may be missing out on crucial information. This section includes details similar to those found in the ownership and management team sub-section, such as the names, areas of expertise, positions (if applicable), and involvement with the company of each board member.

Strategic Advisors

Suppose you’re looking for funding for your business or to fill a gap in your knowledge, or you may not have the funds to hire an executive board. In that case, you must inform potential partners and investors that you have a team of professionals assisting you. This includes lawyers, accountants, and any freelancers or contractors you may be working with. When listing these individuals, include their name, title, educational background, certifications, services they provide to your business, and their relationship with you (i.e., hourly rates, projects, retainer, as-needed, regular). Additionally, highlight their skills and experience that make them an asset to your team you need

Does anything else make them stand out as quality professionals (awards, past working with credible brands)?

Spotlight on the Wider Team Structure

Now, you’ve showcased the management team in its entirety. You can provide brief bios for hiring team needs or secondary members and talk at length about how the team’s combined skills complement each other and how they amplify the team’s effectiveness.

It’s also important to point out any gaps in the knowledge your team is currently suffering. Your readers will likely be savvy enough to pick up on existing holes.

Therefore, you’ll want to get ahead of these criticisms and demonstrate that you’re already aware of the positions and complementary skill sets your management team still requires and how you plan to address the knowledge gaps with future hires.

Do you need help writing your business plan o rganization and management section ? 

Every successful business plan should include the organization and management section, helping you communicate your legal structure and team.

Writing a business plan can seem overwhelming, especially when starting a small, one-person business. However, it can be a reasonably simple task. This section of the plan should be updated if there are any changes to the organization structure or team members, such as additional training, awards, or other resume changes that benefit the business.

Creating your comprehensive business plan takes planning, research, time, and a herculean effort. If, at any point, the work becomes too much to handle, we can step in to assist.

Do you want an expert “second opinion” before creating your business plan or financial forecasts? Let’s talk !

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12 Key Elements of a Business Plan (Top Components Explained)

Starting and running a successful business requires proper planning and execution of effective business tactics and strategies .

You need to prepare many essential business documents when starting a business for maximum success; the business plan is one such document.

When creating a business, you want to achieve business objectives and financial goals like productivity, profitability, and business growth. You need an effective business plan to help you get to your desired business destination.

Even if you are already running a business, the proper understanding and review of the key elements of a business plan help you navigate potential crises and obstacles.

This article will teach you why the business document is at the core of any successful business and its key elements you can not avoid.

Let’s get started.

Why Are Business Plans Important?

Business plans are practical steps or guidelines that usually outline what companies need to do to reach their goals. They are essential documents for any business wanting to grow and thrive in a highly-competitive business environment .

1. Proves Your Business Viability

A business plan gives companies an idea of how viable they are and what actions they need to take to grow and reach their financial targets. With a well-written and clearly defined business plan, your business is better positioned to meet its goals.

2. Guides You Throughout the Business Cycle

A business plan is not just important at the start of a business. As a business owner, you must draw up a business plan to remain relevant throughout the business cycle .

During the starting phase of your business, a business plan helps bring your ideas into reality. A solid business plan can secure funding from lenders and investors.

After successfully setting up your business, the next phase is management. Your business plan still has a role to play in this phase, as it assists in communicating your business vision to employees and external partners.

Essentially, your business plan needs to be flexible enough to adapt to changes in the needs of your business.

3. Helps You Make Better Business Decisions

As a business owner, you are involved in an endless decision-making cycle. Your business plan helps you find answers to your most crucial business decisions.

A robust business plan helps you settle your major business components before you launch your product, such as your marketing and sales strategy and competitive advantage.

4. Eliminates Big Mistakes

Many small businesses fail within their first five years for several reasons: lack of financing, stiff competition, low market need, inadequate teams, and inefficient pricing strategy.

Creating an effective plan helps you eliminate these big mistakes that lead to businesses' decline. Every business plan element is crucial for helping you avoid potential mistakes before they happen.

5. Secures Financing and Attracts Top Talents

Having an effective plan increases your chances of securing business loans. One of the essential requirements many lenders ask for to grant your loan request is your business plan.

A business plan helps investors feel confident that your business can attract a significant return on investments ( ROI ).

You can attract and retain top-quality talents with a clear business plan. It inspires your employees and keeps them aligned to achieve your strategic business goals.

Key Elements of Business Plan

Starting and running a successful business requires well-laid actions and supporting documents that better position a company to achieve its business goals and maximize success.

A business plan is a written document with relevant information detailing business objectives and how it intends to achieve its goals.

With an effective business plan, investors, lenders, and potential partners understand your organizational structure and goals, usually around profitability, productivity, and growth.

Every successful business plan is made up of key components that help solidify the efficacy of the business plan in delivering on what it was created to do.

Here are some of the components of an effective business plan.

1. Executive Summary

One of the key elements of a business plan is the executive summary. Write the executive summary as part of the concluding topics in the business plan. Creating an executive summary with all the facts and information available is easier.

In the overall business plan document, the executive summary should be at the forefront of the business plan. It helps set the tone for readers on what to expect from the business plan.

A well-written executive summary includes all vital information about the organization's operations, making it easy for a reader to understand.

The key points that need to be acted upon are highlighted in the executive summary. They should be well spelled out to make decisions easy for the management team.

A good and compelling executive summary points out a company's mission statement and a brief description of its products and services.

An executive summary summarizes a business's expected value proposition to distinct customer segments. It highlights the other key elements to be discussed during the rest of the business plan.

Including your prior experiences as an entrepreneur is a good idea in drawing up an executive summary for your business. A brief but detailed explanation of why you decided to start the business in the first place is essential.

Adding your company's mission statement in your executive summary cannot be overemphasized. It creates a culture that defines how employees and all individuals associated with your company abide when carrying out its related processes and operations.

Your executive summary should be brief and detailed to catch readers' attention and encourage them to learn more about your company.

Components of an Executive Summary

Here are some of the information that makes up an executive summary:

• The name and location of your company
• Products and services offered by your company
• Mission and vision statements
• Success factors of your business plan

2. Business Description

Your business description needs to be exciting and captivating as it is the formal introduction a reader gets about your company.

What your company aims to provide, its products and services, goals and objectives, target audience , and potential customers it plans to serve need to be highlighted in your business description.

A company description helps point out notable qualities that make your company stand out from other businesses in the industry. It details its unique strengths and the competitive advantages that give it an edge to succeed over its direct and indirect competitors.

Spell out how your business aims to deliver on the particular needs and wants of identified customers in your company description, as well as the particular industry and target market of the particular focus of the company.

Include trends and significant competitors within your particular industry in your company description. Your business description should contain what sets your company apart from other businesses and provides it with the needed competitive advantage.

In essence, if there is any area in your business plan where you need to brag about your business, your company description provides that unique opportunity as readers look to get a high-level overview.

Components of a Business Description

Your business description needs to contain these categories of information.

• Business location
• The legal structure of your business
• Summary of your business’s short and long-term goals

3. Market Analysis

The market analysis section should be solely based on analytical research as it details trends particular to the market you want to penetrate.

Graphs, spreadsheets, and histograms are handy data and statistical tools you need to utilize in your market analysis. They make it easy to understand the relationship between your current ideas and the future goals you have for the business.

All details about the target customers you plan to sell products or services should be in the market analysis section. It helps readers with a helpful overview of the market.

In your market analysis, you provide the needed data and statistics about industry and market share, the identified strengths in your company description, and compare them against other businesses in the same industry.

The market analysis section aims to define your target audience and estimate how your product or service would fare with these identified audiences.

Market analysis helps visualize a target market by researching and identifying the primary target audience of your company and detailing steps and plans based on your audience location.

Obtaining this information through market research is essential as it helps shape how your business achieves its short-term and long-term goals.

Market Analysis Factors

Here are some of the factors to be included in your market analysis.

• The geographical location of your target market
• Needs of your target market and how your products and services can meet those needs
• Demographics of your target audience

Components of the Market Analysis Section

Here is some of the information to be included in your market analysis.

• Industry description and statistics
• Demographics and profile of target customers
• Marketing data for your products and services
• Detailed evaluation of your competitors

4. Marketing Plan

A marketing plan defines how your business aims to reach its target customers, generate sales leads, and, ultimately, make sales.

Promotion is at the center of any successful marketing plan. It is a series of steps to pitch a product or service to a larger audience to generate engagement. Note that the marketing strategy for a business should not be stagnant and must evolve depending on its outcome.

Include the budgetary requirement for successfully implementing your marketing plan in this section to make it easy for readers to measure your marketing plan's impact in terms of numbers.

The information to include in your marketing plan includes marketing and promotion strategies, pricing plans and strategies , and sales proposals. You need to include how you intend to get customers to return and make repeat purchases in your business plan.

5. Sales Strategy

Sales strategy defines how you intend to get your product or service to your target customers and works hand in hand with your business marketing strategy.

Your sales strategy approach should not be complex. Break it down into simple and understandable steps to promote your product or service to target customers.

Apart from the steps to promote your product or service, define the budget you need to implement your sales strategies and the number of sales reps needed to help the business assist in direct sales.

Your sales strategy should be specific on what you need and how you intend to deliver on your sales targets, where numbers are reflected to make it easier for readers to understand and relate better.

6. Competitive Analysis

Providing transparent and honest information, even with direct and indirect competitors, defines a good business plan. Provide the reader with a clear picture of your rank against major competitors.

Identifying your competitors' weaknesses and strengths is useful in drawing up a market analysis. It is one information investors look out for when assessing business plans.

The competitive analysis section clearly defines the notable differences between your company and your competitors as measured against their strengths and weaknesses.

This section should define the following:

• Your competitors' identified advantages in the market
• How do you plan to set up your company to challenge your competitors’ advantage and gain grounds from them?
• The standout qualities that distinguish you from other companies
• Potential bottlenecks you have identified that have plagued competitors in the same industry and how you intend to overcome these bottlenecks

In your business plan, you need to prove your industry knowledge to anyone who reads your business plan. The competitive analysis section is designed for that purpose.

7. Management and Organization

Management and organization are key components of a business plan. They define its structure and how it is positioned to run.

Whether you intend to run a sole proprietorship, general or limited partnership, or corporation, the legal structure of your business needs to be clearly defined in your business plan.

Use an organizational chart that illustrates the hierarchy of operations of your company and spells out separate departments and their roles and functions in this business plan section.

The management and organization section includes profiles of advisors, board of directors, and executive team members and their roles and responsibilities in guaranteeing the company's success.

Apparent factors that influence your company's corporate culture, such as human resources requirements and legal structure, should be well defined in the management and organization section.

Defining the business's chain of command if you are not a sole proprietor is necessary. It leaves room for little or no confusion about who is in charge or responsible during business operations.

This section provides relevant information on how the management team intends to help employees maximize their strengths and address their identified weaknesses to help all quarters improve for the business's success.

8. Products and Services

This business plan section describes what a company has to offer regarding products and services to the maximum benefit and satisfaction of its target market.

Boldly spell out pending patents or copyright products and intellectual property in this section alongside costs, expected sales revenue, research and development, and competitors' advantage as an overview.

At this stage of your business plan, the reader needs to know what your business plans to produce and sell and the benefits these products offer in meeting customers' needs.

The supply network of your business product, production costs, and how you intend to sell the products are crucial components of the products and services section.

Investors are always keen on this information to help them reach a balanced assessment of if investing in your business is risky or offer benefits to them.

You need to create a link in this section on how your products or services are designed to meet the market's needs and how you intend to keep those customers and carve out a market share for your company.

Repeat purchases are the backing that a successful business relies on and measure how much customers are into what your company is offering.

This section is more like an expansion of the executive summary section. You need to analyze each product or service under the business.

9. Operating Plan

An operations plan describes how you plan to carry out your business operations and processes.

The operating plan for your business should include:

• Information about how your company plans to carry out its operations.
• The base location from which your company intends to operate.
• The number of employees to be utilized and other information about your company's operations.
• Key business processes.

This section should highlight how your organization is set up to run. You can also introduce your company's management team in this section, alongside their skills, roles, and responsibilities in the company.

The best way to introduce the company team is by drawing up an organizational chart that effectively maps out an organization's rank and chain of command.

What should be spelled out to readers when they come across this business plan section is how the business plans to operate day-in and day-out successfully.

10. Financial Projections and Assumptions

Bringing your great business ideas into reality is why business plans are important. They help create a sustainable and viable business.

The financial section of your business plan offers significant value. A business uses a financial plan to solve all its financial concerns, which usually involves startup costs, labor expenses, financial projections, and funding and investor pitches.

All key assumptions about the business finances need to be listed alongside the business financial projection, and changes to be made on the assumptions side until it balances with the projection for the business.

The financial plan should also include how the business plans to generate income and the capital expenditure budgets that tend to eat into the budget to arrive at an accurate cash flow projection for the business.

Base your financial goals and expectations on extensive market research backed with relevant financial statements for the relevant period.

Examples of financial statements you can include in the financial projections and assumptions section of your business plan include:

• Projected income statements
• Cash flow statements
• Balance sheets
• Income statements

Revealing the financial goals and potentials of the business is what the financial projection and assumption section of your business plan is all about. It needs to be purely based on facts that can be measurable and attainable.

11. Request For Funding

The request for funding section focuses on the amount of money needed to set up your business and underlying plans for raising the money required. This section includes plans for utilizing the funds for your business's operational and manufacturing processes.

When seeking funding, a reasonable timeline is required alongside it. If the need arises for additional funding to complete other business-related projects, you are not left scampering and desperate for funds.

If you do not have the funds to start up your business, then you should devote a whole section of your business plan to explaining the amount of money you need and how you plan to utilize every penny of the funds. You need to explain it in detail for a future funding request.

When an investor picks up your business plan to analyze it, with all your plans for the funds well spelled out, they are motivated to invest as they have gotten a backing guarantee from your funding request section.

Include timelines and plans for how you intend to repay the loans received in your funding request section. This addition keeps investors assured that they could recoup their investment in the business.

12. Exhibits and Appendices

Exhibits and appendices comprise the final section of your business plan and contain all supporting documents for other sections of the business plan.

Some of the documents that comprise the exhibits and appendices section includes:

• Legal documents
• Licenses and permits
• Credit histories
• Customer lists

The choice of what additional document to include in your business plan to support your statements depends mainly on the intended audience of your business plan. Hence, it is better to play it safe and not leave anything out when drawing up the appendix and exhibit section.

Supporting documentation is particularly helpful when you need funding or support for your business. This section provides investors with a clearer understanding of the research that backs the claims made in your business plan.

There are key points to include in the appendix and exhibits section of your business plan.

• The management team and other stakeholders resume
• Marketing research
• Permits and relevant legal documents
• Financial documents

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

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7 Business Plan Examples to Inspire Your Own (2024)

Need support creating your business plan? Check out these business plan examples for inspiration.

Any aspiring entrepreneur researching how to start a business will likely be advised to write a business plan. But few resources provide business plan examples to really guide you through writing one of your own.

Here are some real-world and illustrative business plan examples to help you craft your business plan .

7 business plan examples: section by section

The business plan examples in this article follow this template:

• Executive summary.  An introductory overview of your business.
• Company description.  A more in-depth and detailed description of your business and why it exists.
• Market analysis.  Research-based information about the industry and your target market.
• Products and services.  What you plan to offer in exchange for money.
• Marketing plan.   The promotional strategy to introduce your business to the world and drive sales.
• Logistics and operations plan.  Everything that happens in the background to make your business function properly.
• Financial plan.  A breakdown of your numbers to show what you need to get started as well as to prove viability of profitability.
• Executive summary

Your  executive summary  is a page that gives a high-level overview of the rest of your business plan. It’s easiest to save this section for last.

In this  free business plan template , the executive summary is four paragraphs and takes a little over half a page:

• Company description

You might repurpose your company description elsewhere, like on your About page, social media profile pages, or other properties that require a boilerplate description of your small business.

Soap brand ORRIS  has a blurb on its About page that could easily be repurposed for the company description section of its business plan.

You can also go more in-depth with your company overview and include the following sections, like in the example for Paw Print Post:

• Business structure.  This section outlines how you  registered your business —as an  LLC , sole proprietorship, corporation, or other  business type . “Paw Print Post will operate as a sole proprietorship run by the owner, Jane Matthews.”
• Nature of the business.  “Paw Print Post sells unique, one-of-a-kind digitally printed cards that are customized with a pet’s unique paw prints.”
• Industry.  “Paw Print Post operates primarily in the pet industry and sells goods that could also be categorized as part of the greeting card industry.”
• Background information.  “Jane Matthews, the founder of Paw Print Post, has a long history in the pet industry and working with animals, and was recently trained as a graphic designer. She’s combining those two loves to capture a niche in the market: unique greeting cards customized with a pet’s paw prints, without needing to resort to the traditional (and messy) options of casting your pet’s prints in plaster or using pet-safe ink to have them stamp their ‘signature.’”
• Business objectives.  “Jane will have Paw Print Post ready to launch at the Big Important Pet Expo in Toronto to get the word out among industry players and consumers alike. After two years in business, Jane aims to drive $150,000 in annual revenue from the sale of Paw Print Post’s signature greeting cards and have expanded into two new product categories.”
• Team.  “Jane Matthews is the sole full-time employee of Paw Print Post but hires contractors as needed to support her workflow and fill gaps in her skill set. Notably, Paw Print Post has a standing contract for five hours a week of virtual assistant support with Virtual Assistants Pro.”

Your  mission statement  may also make an appearance here.  Passionfruit  shares its mission statement on its company website, and it would also work well in its example business plan.

• Market analysis

The market analysis consists of research about supply and demand, your target demographics, industry trends, and the competitive landscape. You might run a SWOT analysis and include that in your business plan. 

Here’s an example  SWOT analysis  for an online tailored-shirt business:

You’ll also want to do a  competitive analysis  as part of the market research component of your business plan. This will tell you who you’re up against and give you ideas on how to differentiate your brand. A broad competitive analysis might include:

• Target customers
• Unique value add  or what sets their products apart
• Sales pitch
• Price points  for products
• Shipping  policy
• Products and services

This section of your business plan describes your offerings—which products and services do you sell to your customers? Here’s an example for Paw Print Post:

• Marketing plan

It’s always a good idea to develop a marketing plan  before you launch your business. Your marketing plan shows how you’ll get the word out about your business, and it’s an essential component of your business plan as well.

The Paw Print Post focuses on four Ps: price, product, promotion, and place. However, you can take a different approach with your marketing plan. Maybe you can pull from your existing  marketing strategy , or maybe you break it down by the different marketing channels. Whatever approach you take, your marketing plan should describe how you intend to promote your business and offerings to potential customers.

• Logistics and operations plan

The Paw Print Post example considered suppliers, production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan provides a breakdown of sales, revenue, profit, expenses, and other relevant financial metrics related to funding and profiting from your business.

Ecommerce brand  Nature’s Candy’s financial plan  breaks down predicted revenue, expenses, and net profit in graphs.

It then dives deeper into the financials to include:

• Funding needs
• Projected profit-and-loss statement
• Projected balance sheet
• Projected cash-flow statement

You can use this financial plan spreadsheet to build your own financial statements, including income statement, balance sheet, and cash-flow statement.

Types of business plans, and what to include for each

A one-page business plan is meant to be high level and easy to understand at a glance. You’ll want to include all of the sections, but make sure they’re truncated and summarized:

• Executive summary: truncated
• Market analysis: summarized
• Products and services: summarized
• Marketing plan: summarized
• Logistics and operations plan: summarized
• Financials: summarized

A startup business plan is for a new business. Typically, these plans are developed and shared to secure  outside funding . As such, there’s a bigger focus on the financials, as well as on other sections that determine viability of your business idea—market research, for example.

• Market analysis: in-depth
• Financials: in-depth

Your internal business plan is meant to keep your team on the same page and aligned toward the same goal.

A strategic, or growth, business plan is a bigger picture, more-long-term look at your business. As such, the forecasts tend to look further into the future, and growth and revenue goals may be higher. Essentially, you want to use all the sections you would in a normal business plan and build upon each.

• Market analysis: comprehensive outlook
• Products and services: for launch and expansion
• Marketing plan: comprehensive outlook
• Logistics and operations plan: comprehensive outlook
• Financials: comprehensive outlook

Feasibility

Your feasibility business plan is sort of a pre-business plan—many refer to it as simply a feasibility study. This plan essentially lays the groundwork and validates that it’s worth the effort to make a full business plan for your idea. As such, it’s mostly centered around research.

Set yourself up for success as a business owner

Building a good business plan serves as a roadmap you can use for your ecommerce business at launch and as you reach each of your business goals. Business plans create accountability for entrepreneurs and synergy among teams, regardless of your  business model .

Kickstart your ecommerce business and set yourself up for success with an intentional business planning process—and with the sample business plans above to guide your own path.

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Business plan examples FAQ

How do i write a simple business plan, what is the best format to write a business plan, what are the 4 key elements of a business plan.

• Executive summary: A concise overview of the company's mission, goals, target audience, and financial objectives.
• Business description: A description of the company's purpose, operations, products and services, target markets, and competitive landscape.
• Market analysis: An analysis of the industry, market trends, potential customers, and competitors.
• Financial plan: A detailed description of the company's financial forecasts and strategies.

What are the 3 main points of a business plan?

• Concept: Your concept should explain the purpose of your business and provide an overall summary of what you intend to accomplish.
• Contents: Your content should include details about the products and services you provide, your target market, and your competition.
• Cashflow: Your cash flow section should include information about your expected cash inflows and outflows, such as capital investments, operating costs, and revenue projections.

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Six Steps to Creating a “Must-Have” Organizational Plan

Do you have an organizational plan? Everything starts with planning. Whether you want to start a business, grow the business, or simply perform the necessary tasks to keep the business profitable. Without proper planning, all you have is an unfruitful idea.

All business plans require Organizational Planning. It is an integral part of defining your business module and your objectives. For business owners It is extremely important to have an organizational plan in place in order to navigate the daily progress efficiently. It should delineate not only your organizational structure of departments, managers, and staff but also the functions, tasks, and processes they regularly execute.

Your organizational plan should flow from your strategic plan. The strategic plan defines your long-term goals for the business, which can only be accomplished by achieving your organizational plan’s benchmarks.

These concepts may seem highly cumbersome, but let’s take a look at why you need Organizational Planning and how best to manipulate it for your business’s success.

What Is Organizational Planning?

Organizational planning is a process of defining goals for an organization, developing strategies for achieving those goals, and identifying the resources needed to carry out those strategies. It allows organizations to have direction in pursuing their mission and vision. It also assists in identifying risks, setting priorities, and using available resources effectively.

At the same time, organizational planning is an important part of the strategic management process. In this way, it helps organizations make decisions and allocate resources to ensure that they meet their goals. The organizational plan typically includes goals, objectives, strategies, action plans, budgets, and performance measures. It should also include a timeline for completing tasks and a system for monitoring and evaluating progress.

How Effective Organizational Planning?

Organizational planning can become more effective when it is done collaboratively with stakeholders from all levels of the organization. Ensuring that everyone understands the organization’s goals and strategies is important for achieving success. Additionally, different perspectives and insights can be shared to promote a productive dialogue about how everyone can contribute to achieving the desired results.

When done effectively, organizational planning can help organizations become more efficient and effective in achieving their goals. It is a necessary tool for any organization seeking to thrive and grow in the long term.

Types Of Organizational Plans

Organizational plans come in a variety of forms. The most common types are as follows:

•   Strategic Plan: A strategic plan is an overall long-term plan for the organization, usually covering multiple years. It sets forth the organization’s mission, goals, and objectives and outlines how those goals will be achieved. It is typically developed at the top level of management, with input from all departments.
•   Operational Plan: An operational plan focuses on day-to-day operations and activities necessary to achieve the strategic goals of the organization. It provides details about how resources will be allocated to support specific tasks and initiatives, as well as timelines for completion and performance metrics to measure progress.
•   Tactical Plan: A tactical plan is a highly specific and short-term guide to activities that need to be completed to reach an organization’s goals. Usually, department or team leaders create it and lay out how their resources will support the more general strategy.
•   Budget Plan: A budget plan is a financial document that details how the money will be spent in order to achieve the goals of the organization. It includes both short-term (e.g., monthly or quarterly) and long-term expectations, such as capital investments.

Organizational plans can also include plans for marketing, human resources, risk management, and other areas. An organization’s success depends on its ability to create and adhere to a regularly updated plan. This helps the company stay on track while also being able to anticipate and overcome any issues.

Importance of an Organizational Plan

A comprehensive organizational plan is crucial for the success of any small business . This plan lists all duties, functions, and objectives for a department or area and assigns a responsible person to each task. Additionally, formalizing power structures with designated supervisors creates accountability and clarifies relationships between employees.

Besides, a well-crafted plan is the best way to clearly and concisely communicate what needs to be done by each individual and how it will benefit the company.

Here Are A Few Things You Can Accomplish With A Well-Defined Organizational Plan  

Clarifies the role and function of each staff member.

A clear Organizational Plan helps ensure that every team member understands their precise roles and responsibilities. Having crystal clear roles ensures clarity and understanding about specific tasks. This helps you work more efficiently to finish projects or achieve goals sooner and more effectively.

Shows How The Staff Is Contributing To The Goals Of Your Business

By tracking your employees’ progress, you can better understand how they fit into and contribute to your organization as a whole. This is especially helpful during annual performance reviews or if you ever need to let someone go.

Displays Managerial And Team Relationships

An organizational plan is beneficial for figuring out the relationship between management and teams. Each manager can see how every team member contributes to the business, which then helps with knowing who needs more training or support. Additionally, this method is good for revealing employees that can take on a bigger workload.

Can Reveal Gaps, Issues, And Liabilities

The incredible opportunity to track the progress of each task, team, project, and target actually provides insight into any shortcomings as well. Organizational planning helps identify any inadequacies or limitations that may be hindering the growth of your business.

Clarifies The When’s, How’s, And Who’s In Your Processes.

Each member of your business has a strength, unlike others, and can handle specific types of tasks. With proper organizational planning, you can delegate the appropriate tasks at the right time to the most efficient member of the team for elevated output.

It Makes It Quick Work To Know Whom To Turn To When There Is A Problem.

Organizational planning invariably provides a detailed account of everyone’s strengths and weaknesses. Therefore, when you are faced with a difficult situation, you know exactly which member of your team can effectively solve the problem.

Everyone working with you needs to be aware of this information. Define the roles and expectations of your employees, whether entry-level or in management, by posting these responsibilities in a place where everyone will see them, like a bulletin board or internal website. Each team member will be on the same page with the company vision.

Six Steps to Create Your Organizational Plan

If you already have an organizational plan, then it is good to verify and update all the necessary information. However, if you don’t already have an organizational strategy, it is not too late to start one now.

Following are the steps for creating your own organizational plan .

• Pick Your Team – Choose an efficient team based on their skills, strengths, and determination for success.
• Draw a Chart Showing Your Organizational Structure – Share your company’s progress and the targets you have set for short-term and long-term goals.
• Drive Out Goals & Objectives – Define the company’s goals and objectives in detail to help them understand the vitality of their roles.
• List All Tasks and Functions – Predefine team member roles and focus on their tasks and functions so they know what is expected of them.
• Review Current Business Processes – Go over the business’s current situation so everyone is aware of the current state and how they can contribute to the company’s growth.
• Compile Findings into Organizational Plan – Invite their input and design an effective organizational plan.

Let us take a detailed look at these steps to create an Organizational Plan.

#1: Drive Out Goals & Objectives

All organizational plans need to include what the business wants to accomplish and how to get there. Clearly, state what you want your business to become – which drives out your goal/destination and the objectives/measurements for reaching it.

Common goals include:

• internal stability > reducing staff turnover, promoting consistency
• creativity > inspiring innovation, ingenuity, and improvements
• uniformity > consistent delivery of goods and services; branding
• security > protecting data of customers, vendors, and the business
• quality control > focusing on excellence
• accountability > identifying who’s responsible
• integrity > transparency, honesty, fairness
• rapid delivery of goods > improving turnaround
• excellent customer service > exceeding expectations
• efficiency > refinements that lead to optimum operations

#2: Pick Your Team

While you may prefer to do everything yourself, it is imperative to engage with others when creating a plan for their knowledge, ideas, and perspectives. Every member of your team has strengths, unlike others. Some may be talented with development, while others have an innate sense of design.

You must ensure that each member has a vision for the company and their personal progress that aligns with your drive.

Look at your team and select your key players – that is, those staff members:

• who understand the current systems, processes, values, and goals
• who can offer worthwhile suggestions for improvements
• who can visualize and evaluate the effects that changes may have within the business (as changes typically occur during this process)

This team can lend a helping hand in the future as you work to implement plans for business growth and development.

Note that while most small business owners develop the organizational plan on their own, there may be time, staffing, or deadline constraints that make hiring an outside consultant a better choice.

#3: Review Current Business Processes

Write out each of your processes in detail. Look at what it does and how it does it . Then, list all the functions and tasks it performs as well as who does what.

An often surprising result of this step is you will most likely realize there are differences in how the processes actually work versus how you thought they worked.

This step can be extremely time-consuming and, therefore, is why many small businesses hire a business consultant or business coach . It helps them realize a clear vision of what to expect instead of nurturing a delusion.

Thus a business consultant can actually help you formulate a more substantial and realistic organizational plan and make the necessary changes to accomplish your targets.

#4: List Tasks and Functions

Capture all the tasks and functions that your business is and should be performing. Include those things in your vision that you want the organization to do.

This process should drive out the gaps. You’ll see what is missing: perhaps where your company is lacking key pieces such as documentation, training, or analysis. It can also reveal issues and vulnerabilities (ex. insufficient safety practices or improper workarounds).

Once you have identified the factors hindering the company’s growth, you can look for viable solutions to address them. You can discuss these problems with your team and get their input.

#5: Draw Out Your Organizational Structure

Now would be a good time to draft an organizational structure chart. Map the current progress, your vision, the targets, all the shortcomings, and the viable solutions. Visual aids can help you, and your team determines exactly what needs to be done.

Include all the departments, roles, staff, and reporting structure. Define each section with clarity so each team, and the members consisting of them, are well aware of their responsibilities and their roles.

Simplicity and precision are the keys to defining an effective organizational plan. So you must pay attention to the details without complicating the plan.

#6: Compile Findings into Organizational Plan

The last step is to gather the collected information into one document. To do this, you create designated folders of the collected documents or use some best free personal document organizer .

Everything you have discussed and planned with your selective team should be compiled for posterity. This helps you track the progress of your organizational plan and make necessary updates or changes along the way.

Remember that your organizational plan is a part of your strategic plan for the company. It will be affected by external factors and subjected to change as per current business standards. Therefore you must prepare for such contingencies and leave room for errors or fallbacks.

Share the organizational plan with your entire staff. This might be an excellent opportunity to call a “town hall” or all-staff meeting.

Organizational Planning Examples

Organizational planning is a process in which organizations set out the goals, objectives and strategies that they need to achieve their business objectives. This includes identifying key operational areas, setting performance metrics and developing plans to ensure success.

Some Common Examples Of Organizational Planning Include:

•   Setting financial targets: Organizations will identify what their revenue and expenses should be and set a budget to stay on track.
•   Developing workforce plans: Organizations need to identify the roles they require in order to meet their objectives and then develop training programs or recruitment strategies to fill those roles.
•   Establishing operational procedures: Companies need to establish processes for how tasks will get done so that it will ensure that performance remains consistent and efficient.
•   Establishing organizational structures : Similarly, organizations need to determine the structure of their teams and divisions, including who is responsible for each area.
•  Crafting marketing strategies: Companies need to create a plan for how they will reach customers and promote their products or services.
•   Planning for growth and expansion: Lastly, Organizations need to have an idea of where they would like to be in the future, and develop plans for reaching those goals.

Once the organizational plan is in place, it’s important to review it periodically to ensure that strategies are updated as necessary. Companies need to assess progress against goals, identify areas of improvement and adjust plans accordingly.

The grave importance of an effective organizational plan cannot and should not be ignored.

If you are a new business owner, you can consult professional business consultants to devise a beneficial operational plan for your company. Even if you are a freelancer or a small business owner, an organizational plan goes a long way to help you establish your trade as a force to be reckoned with.

If you have an established business, but you know that there is room to grow and expand, you can start making an organizational plan now. You can use the steps that we have defined and seek professional help from business consultants to expand your company and increase your profits in multifold.

It is never too late to make an efficient and effective organizational plan to elevate and expand your business for betterment.

We hope you find this blog helpful in designing an organizational plan for your business.

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Inside the First Year as a CEO

• Rebecca Davies

Lessons from 35 CEOs on planning, executing, and navigating the transition.

CEO performance reverberates well beyond the corner office, affecting everyone from employees to shareholders, governments to business partners. Getting a good start is critically important to medium- and long-term success, for both the CEO and the organization. But how can newly appointed CEOs succeed when the role is so different from any they’ve held before? Russell Reynolds Associates conducted a study to better understand this pivotal time in a CEO’s journey, looking closely at what new CEOs focus on, what surprises them during their transitions, and what regrets they have. CEOs who have gotten off to a good start offer plenty of lessons for successfully planning, executing, and navigating the transition.

Becoming a CEO is a transition unlike any other. After the pressure and excitement of the appointment process, the real work begins. Expectations are never higher, the learning curve is never steeper, and it doesn’t take long for people to form opinions of a CEO’s performance.

• TW Ty Wiggins leads the CEO & Executive Transitions Practice globally for Russell Reynolds Associates. He helps world-leading CEOs successfully transition into their roles. His book, The New CEO , is based on original research and candid conversations with world-leading CEOs.
• RD Rebecca Davies is a research consultant at Russell Reynolds Associates who specializes in working with global organizations on CEO and non-executive appointments. She has a bachelor’s degree in history from the University of Cambridge and a master’s degree from the University of Exeter, specializing in economic history.

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EY announces alliance with o9 Solutions to help modernize supply chain operations through business planning and analytics solutions

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• Helps enable intelligent planning through smart decision-making across the core supply chain, commercial and profit and loss (P&L) functions

The EY organization today announces an alliance between o9 Solutions, a pioneer in advanced planning and supply chain management software solutions, and Ernst & Young LLP (EY US) to provide advanced supply chain planning solutions backed by artificial intelligence (AI), machine learning (ML), big data and cloud computing.

With today's rapid technological advancements, organizations must reinvent how they operate and do business. the ey–o9 solutions alliance helps next-generation global enterprises in adopting integrated business planning solutions and modernizing their core supply chain, commercial and profit and loss functions., the alliance combines o9 solutions' ai- and ml-supported planning, analytics and data platform, known as the digital brain, with the deep supply chain knowledge, system integration and data science capabilities of ey us. the o9 solutions’ enterprise software platform unifies business processes, transforming traditionally slow and siloed planning functions into integrated and “intelligent” planning., together, ey us and o9 solutions support clients with system integration, sprint execution, program management, governance and change management. through this alliance, ey us and o9 solutions will help clients detect early risks across the supply chain and make intelligent business decisions., rajesh rao, ey–o9 solutions alliance leader, ernst & young llp, says:, “we are thrilled to be cultivating this relationship with o9 solutions, which will help us to transform our supply chain client engagements. this alliance provides a fit-for-purpose, configurable technology platform designed for quick deployment and agile implementation via the cloud. with this alliance, clients can have faster, more intelligent planning and business decision-making to help improve business outcomes.”, tanguy caillet, executive vice president, growth markets and global alliances, o9 solutions, says:, “we’re pleased to build a collaborative relationship with ey us, a trusted collaborator for businesses worldwide, to transform and digitalize the planning organizations and decision-making processes of our respective customers using the o9 digital brain platform. we look forward to providing, with ey us, robust business planning transformation that helps organizations gain the business insights and decision-making tools necessary to move their business forward.”, for more information, visit  ey.com/alliances., ey exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets., enabled by data and technology, diverse ey teams in over 150 countries provide trust through assurance and help clients grow, transform and operate., working across assurance, consulting, law, strategy, tax and transactions, ey teams ask better questions to find new answers for the complex issues facing our world today., ey refers to the global organization, and may refer to one or more, of the member firms of ernst & young global limited, each of which is a separate legal entity. ernst & young global limited, a uk company limited by guarantee, does not provide services to clients. information about how ey collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. ey member firms do not practice law where prohibited by local laws. for more information about our organization, please visit ey.com., this news release has been issued by eygm limited, a member of the global ey organization that also does not provide any services to clients., related news.

EY announces alliance with Moody’s to bring together software, data and services to help improve how clients measure and manage risk

LONDON, 07/12 2023 . The EY organization today announces an alliance between Moody’s Analytics, Inc. (Moody’s), a provider of industry-leading financial intelligence and analytical tools, and Ernst & Young LLP (EY US), to help organizations make better data-driven business decisions and manage risk.

EY announces alliance with Aspen Technology to support clients’ sustainability initiatives, improve manufacturing operations and modernize utility grids

LONDON, 27 NOVEMBER 2023. The EY organization today announces an alliance between Aspen Technology, Inc. (NASDAQ: AZPN), a global leader in industrial software, and Ernst & Young LLP (EY US).

EY announces strategic alliance with BlueVoyant to help enterprises deploy Microsoft 365 E5 advanced security tools

LONDON, 20 November 2023. The EY organization today announces a strategic alliance between BlueVoyant, a leading cyber defense company, and Ernst & Young LLP (EY US) to provide proven cyber risk management design.

Businesses revise climate targets as reality of long-term sustainability transformation hits

LONDON, 16 November 2023 – The EY organization today announced its participation in the Microsoft Security Copilot Partner Private Preview.

EY wins 2023 CrowdStrike Global System Integrator of the Year award

London, 23 October 2023. The EY organization today announces that it has been named as the 2023 CrowdStrike Global System Integrator of the Year during the Partner Summit of Fal.Con 2023. This annual conference recognizes organizations that have consistently built successful client relationships, as well as delivered innovation and business outcomes leveraging the CrowdStrike Falcon® platform.

EY and IBM launch artificial intelligence solution designed to help increase productivity and drive efficiencies within HR

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Boy Scouts Says Bankruptcy Plan Is Unaffected By Purdue Ruling

By Alex Wolf

The US Supreme Court’s ruling overturning Purdue Pharma LP’s bankruptcy plan and $6 billion Sackler family settlement should have no effect on the Boy Scouts bankruptcy case, the youth organization said.

The Boy Scouts’ Chapter 11 plan, structured around a historic $2.46 billion sex abuse settlement, was meant to be left intact when the high court ruled in Harrington v. Purdue Pharma that bankruptcy plans can’t force creditors to give up legal claims against nonbankrupt third parties, the nonprofit told the US Court of Appeals for the Third Circuit on Wednesday.

The high court recognized that its June decision doesn’t affect bankruptcy plans like the Boy Scouts’ that have been “substantially consummated” and that satisfy claims against nonbankrupt third parties, the organization said in briefing. It was joined by its nationwide network of local councils and a coalition of 18,000 scouts and their attorneys.

“The Court made both of these qualifications knowing that they distinguish BSA’s plan from Purdue’s,” they said in the brief.

Boy Scouts is fighting challenges over its bankruptcy plan, which went active in April 2023, over features that terminated the rights of roughly 82,000 abuse claimants to sue third parties involved in scouting activities, including the organization’s local councils. The appeals are being fought by 144 former Scouts that voted against the bankruptcy plan.

The Third Circuit last month asked the Boy Scouts and others involved in the appeal process to provide briefing on how the court should consider the case in light of the Purdue ruling. The Supreme Court rejected the OxyContin manufacturer’s plan that would block all opioid abuse claimants from pursuing civil cases against the company’s billionaire owners.

‘Irreversible’ Transactions

The distinct circumstances between the two cases must be appreciated, the youth group said Wednesday. While Purdue’s case had been paused before the Sackler settlement had been paid, the Boy Scouts plan has already been active for 16 months “and many irreversible plan transactions have occurred,” it said.

A victims’ trust established to distribute settlement funds has already paid 6,300 abuse survivors and incurred $71 million in operational costs, the group said. Additionally, local councils have transferred $439 million to the trust and contributed proceeds the sale of 31 real properties, it said.

Calls to overturn the bankruptcy plan “cannot possibly be granted without fatally scrambling the plan and threatening the future of this 114-year-old civic institution,” the nonprofit said.

Further, it would create uncertainty for tens of thousands of abuse survivors “who would likely receive little or no compensation under a future reorganization plan (if one is even possible) or outside of bankruptcy,” it added.

The Mormon Church, which paid into the settlement as a longtime sponsor of scouting activities, also urged the Third Circuit on Wednesday not to apply the Purdue ruling in this case and uphold the abuse settlement plan.

But attorneys representing former scouts that have challenged the bankruptcy plan said in a filing Wednesday that “there is no relevant distinction” with the Purdue plan that was overturned.

“Purdue invalidates the same nonconsensual nondebtor releases that are the ‘cornerstone’ of the Boy Scouts’ reorganization plan and simplifies the pending appeals,” the lawyers said. “The legality of the nonconsensual releases in BSA’s plan is no longer in dispute.”

Further, the Boy Scouts’ plan has not been substantially consummated, as 60% of the assets haven’t been transferred and most of the plan funding is contingent on appeals, they said.

The Boy Scouts is represented by White & Case LLP, Morris Nichols Arsht & Tunnell LLP, and Perkins Coie LLP. The local councils are represented by DLA Piper LLP (US) and Wachtell Lipton Rosen & Katz. The Coalition of Abused Scouts for Justice is represented by Monzack Mersky & Browder PA.

The appealing claimants are represented by Dumas & Vaughn LLC and Gellert Seitz Busenkell & Brown LLC.

The case is In re Boy Scouts of Am. , 3d Cir., No. 23-01666, briefs filed 8/7/24.

To contact the reporter on this story: Alex Wolf in New York at [email protected]

To contact the editor responsible for this story: Maria Chutchian at [email protected]

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More From Forbes

Moving beyond agile: 4 keys to becoming a nimble tech company.

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Sara Vassar is Chief Product Officer at MoneyGram , a global leader in cross-border P2P payments and money transfers.

To win, businesses must deliver better value to customers where it matters most and look for ways to surprise and delight them with great experiences. But in today’s digital-first world, consumer needs and preferences can shift quickly. The ability to pivot when a more valuable opportunity emerges is critical.

While many tech teams have invested heavily in stack modernizations and are using the Agile framework , organizations must focus on more than just process and tool improvements to be truly nimble in today’s fast-changing environment.

In addition to formal project management methodologies like Agile, nimbleness requires a culture that truly embraces change. Your people and their mindset are what help teams pivot on a dime. This is true even in organizations as expansive as ours, where we have 30 teams collaborating on the company’s extensive product portfolio. When new information or situations arise, like the latest customer research or new government regulations, organizations that are eager to learn and comfortable with change are better empowered to act upon these challenges and adjust their product plans and strategies accordingly.

Here are four essential building blocks to creating this type of nimble culture.

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Today’s nyt mini crossword clues and answers for thursday, august 15, the backlash against blake lively, explained, make sure everyone shares the same north star..

To be able to pivot quickly, everyone needs to have a common understanding of what success looks like. For a newer company, this could mean driving double-digit topline growth to help attract new investors or buyers. For a more established company, this could entail boosting revenue by developing new lines of business or products that make the brand more relevant than ever.

Whatever the goal, leaders must communicate the organization’s North Star clearly and often to ensure that everyone is moving toward it consistently. This alignment provides a common objective, which helps people quickly understand and accept changes when needed. The road to success might require taking a detour or blazing a new trail. But if everyone knows their destination, they can better manage twists and turns along the way.

Build transparency into the planning process.

As business leaders, we know that teams that can see the big picture are better equipped to execute a strategy successfully. First, ensure that your teams don’t plan projects in silos. All teams should know the organization’s strategic goals, the project pipeline and the priorities across the portfolio. Second, leaders should share current assumptions about the cost, complexity and business value of each initiative. This reinforces how and why decisions are made across the portfolio. Third, as new projects emerge and prior projects are paused, ensure all teams are informed and empowered to ask questions.

By fostering such knowledge sharing, leaders can empower their people to know why plans are changing and create a culture that will quickly embrace new priorities.

Celebrate learning and sharing new ideas.

Just as leadership should be on top of market shifts, they should ask their teams to look out for opportunities by investing more time in understanding their customer, markets, competitors and industries. Our product team is required to spend one day a week outside “the building” to gain insights into how customers and partners interact with our brand in the real world.

But that’s just the first step. Be sure to provide a forum where they can share what they’re learning with their teammates and the organization, and brainstorm ideas for what can be improved. You should also share news from your own research to demonstrate that leaders, too, are focused on gathering new information that can lead to better products and services.

Bring data and analytics into every level of the organization.

As a nimble leader, data will be your best friend. Organizations that know what data matters most and invest in a robust suite of analytics tools are enabled to drive fast decision-making with confidence.

Build measurement and reporting requirements into the project planning process so that everyone in your organization becomes accustomed to both using data to track their progress and leveraging data to make changes when necessary. Look for opportunities to demonstrate the importance of data-driven decisions by bringing relevant data into team meetings and encourage team members to do the same. Also, ask team leaders to proactively share their product and project data at regular intervals with the rest of the organization and the decisions they are making as a result of those insights.

Another key point is to make certain that your analytics toolkit includes user-friendly dashboards so that your data is accessible to all teams and at multiple levels in the organization. This will optimize for speed when making decisions and moving plans forward.

Final Thoughts

Being nimble isn’t just about technology. It involves strategy, natural curiosity, honesty and open communication. All these traits are highly coveted by leaders in today’s tech industry. When implemented across an entire organization, they can be truly transformative.

When we made the leap to become a global fintech leader, we built these four pillars into the core of every choice we made. From the talent we’ve hired to the products we’ve launched, being a nimble company has enabled us to transform our legacy brand in just a few years. It has positioned us to stay at the forefront of the tech and payment industry as we continue to evolve.

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