Business Core Development

BusinessCaseDevelopmentGetStartedWhatwouldyoudo?SydneyPungerheadsthetraininganddevelopmentgroupatSatelliteElectronics.Satellite'sleadershiprecentlydecidedtochangeitssalesstrategyfromsellingproductstosellingsolutions.Tosupportthenewstrategy,Sydney'sgroupwillneedtoprovideservicessuchasdevelopingandimplementingnewtrainingforthesalesstaff.Sydney'sbossaskshertoprepareabusinesscasetosupportthehiringoftwonewemployeestohelptrainthestaff.Sydneyisn'tsurethisisthebestcourseofaction.Whatwouldyoudo?Sydney'sbossmadethecommonmistakeofignoringauniverseofpossibilitiesandthinkingaboutabusinesscaseasameanstojustifyadesiredcourseofaction.Instead,Sydneyshouldbuildacasearoundhowthecompanycanbestcreateandsupplynewtrainingtothesalesstaff.Bythinkingabouttheopportunity,insteadofjustonewayofapproachingit,Sydneyislikelytocomeupwithabetterrecommendation.Aspartoftheprocess,Sydneyshouldconsidermultiplealternatives,includingremainingwiththestatusquo.ItmayturnoutthatSydney'scompanywoulddobetterbyfocusingoneliminatingcurrenttrainingprojectsthantryingtoexpandthestafftotakeonnewones.Inthistopic,you'lllearnhowtobuildabusinesscasetoexploremultiplealternativesbeforemakingarecommendationtosupportaparticularoption.You'lllearnhowtodefinetheopportunity,identifyandanalyzealternatives,andpresentyourfinalrecommendationtokeystakeholders.Howdoyoudecideonthebestcourseofactionforyourcompanytotakeadvantageofnewopportunities?Bybuildingabusinesscase.|Next»GetStartedTopicObjectivesThistopicprovidesaframeworkforbuildingabusinesscase.You'lllearnhowto:Clearlydefinetheopportunityyou'llwanttoaddressinyourbusinesscaseIdentifyandanalyzearangeofalternativesRecommendoneoptionandassessitsrisksCreateahigh-levelimplementationplanforyourproposedalternativeCommunicateyourcasetokeystakeholders«Previous|Next»GetStartedAbouttheMentorJuneParadiseMaulPresidentofAdvantageValue,aconsultingandeducationcompany,Dr.JuneParadiseMaulhasexperienceleadinglarge-scalechangeaswellaslineorganizations,havingbeenChiefLearningOfficeratQwestandhavingheldseniormanagementpositionsatAT&T.Dr.Maulhastaughtexecutivedevelopmentprogramsincorporationsandgraduatelevelbusinessandleadershipprograms—incorporatingstrategicplanning,balancedscorecard,strategicleadership,virtualworkplace,decisionmaking,andcreativeresourcingintoeducationinitiatives.Sheisinvitedtospeakgloballyonleadership,strategicplanning,andcreativeresourcing.Dr.MaulreceivedherBachelorofScienceinAsianStudiesandGeologyfromM.I.T.andherDoctorateinScienceandHumanitiesfromRutgers.«Previous|Next:Learn»Learn«Previous:GetStarted|Next»BusinessCaseBasicsWhatisabusinesscase?Perhapsyou'vebeenmanagingaprojectandyou'veconcludedthatacquiringsomenewsoftwarewouldhelpyourcompanycutcostsandincreaseefficiencies.Orperhapsyouwanttohireseveralnewemployeesorbuyanewpieceofequipmentforyourgroup.You'vepresentedyourproposaltoyourboss,andheresponded,You'llneedtomakethebusinesscaseforitbeforewecanconsiderit.You'rehappytooblige—butyou'renotsurewhat,precisely,abusinesscaseconsistsoforhowtogoaboutcreatingone.Youwonder,Doeshemeanabusinessplan?Butabusinesscasediffersinimportantwaysfromabusinessplan.Yourfirststepinbuildingacaseforyourgreatideaistounderstandthedifference.«Previous|Next»Businesscasevs.businessplanAbusinesscaseanswersthequestion:Whathappensifwetakethiscourseofaction?Forexample,ifyourunitisconsideringexpandingsalestoanewmarket,yourbossmightask,Whichofthreealternativemarketsshouldweinvestintocreatethemostvalue—andshouldweevenmakethisinvestment?Managersatalllevelscreatebusinesscasestogainsupportforallmannerofdecisions,toinitiateaction,ortoobtainresourcesforaninitiative.Abusinessplan,ontheotherhand,describeshowanorganizationorbusinessunitplanstonavigatesuccessfullythroughitsownuniquecompetitiveenvironment.Businessplansfeaturelong-rangeprojectionsofrevenues,expenses,businessstrategy,andotherinformation.Typically,managersandexecutivesusebusinessplanstosecurefinancingfrominvestorsortoplanstrategyexecution.«Previous|Next»RelatedTopicBusinessPlanDevelopmentWhentocreateabusinesscaseDoyouneedtodemonstrateaproduct'svalue?Doyouhaveprojectstoprioritizeorneednewresources?Ifso,it'stimetobuildabusinesscase.KeyIdeaInmanyways,theprocessofbuildingabusinesscaseissimilartosolvingaproblem.Forexample,supposeyoudon'thaveenoughstafftoaccomplishyourresponsibilities,oryoubelievethatyourcompany'scompetitorsusemoreefficientprocessesthatallowthemtohavelowercoststhanyourfirmdoes.Developingabusinesscasewouldnotonlyhelpyouidentifypotentialsolutionstosuchproblems,itwouldalsohelpyousellyourideastokeydecisionmakers.Abusinesscaseisusefulwhenyouwantto:Demonstratethevalueaproposedproductorservicewouldgenerateforyourorganization,Prioritizeprojectswithinyourgroupandidentifywhichonestoeliminate,Demonstratethevalueofaproductorservicetoacustomertomakeasale,Obtainadditionalresourcesforanewproject,initiative,ororganization,Modifyanexistingoffering,Investinanewcapability,suchasasoftwareprogramortraining,Ordecidewhethertooutsourceaparticularfunction.«Previous|Next»ThecomplexityofabusinesscaseIt'snotthepl