Who Should be Involved in Creating a Business Plan?

Creating a successful business plan requires input from a diverse group of individuals with different skill sets and perspectives. Involving a diverse group of people ensures that the business plan is comprehensive, realistic, and aligned with the strategic goals and vision.

As with involving people in the strategy creation process, involving people from all levels of the organisation can be a very powerful way to build commitment to the attainment of the strategic goals. In addition, it also creates a sense of accountability that can improve motivation and productivity which will help the business plan to succeed.

It is, however, important to ensure that the correct people are involved at the correct time when creating the business plan. A rule a thumb is that the more detail required, the deeper you should go into the business structure. This ensures that they are able contribute in the most effective way.

In general, the people who should be involved in creating a business plan will depend on the nature of the business and the scope of the plan. Here are some examples of individuals who may be relevant to include:

1.   Senior management.

Senior management should be involved in the creating the business plan. Senior leadership, including the board of directors and executive team, is responsible for setting the overall direction and strategy of the company. They also have a broad understanding of the industry, market, and competition. This means that they can provide valuable insights and feedback on the overall direction and feasibility of the business plan.

In addition, they can ensure that the business plan aligns with the company’s long-term strategic goals. They can also make sure that the plan is consistent with the company’s values and vision.

Senior management can also play a key role in communicating the plan to the rest of the business. This ensures that everyone understands their role and responsibilities in achieving the goals outlined in the business plan.

They can also provide valuable input on the financial projections, resource allocation, and risk management. In addition, they can help to ensure that the plan is compliant with all relevant laws and regulations.

2.  Middle management.

Middle management is responsible for implementing the plans and strategies developed by senior management. They have a good understanding of how the business plan will be put into action. In addition, they can provide valuable feedback on the feasibility and practicality of the plan. They can also identify any potential challenges or obstacles that may arise during implementation.

Middle management can also play a key role in communicating the business plan to front-line employees and department heads. This ensures that everyone understands their role and responsibilities in achieving the strategic and operational goals outlined in the plan.

They can also provide valuable information on the internal processes and identify any inefficiencies that need to be addressed. This helps to ensure that the plan takes into account the interdependencies between different areas of the business. It also helps ensure that the business plan aligns with the overall goals and vision of the business.

3.  Department heads.

Depending on the size of the business, it can be beneficial to involve department heads in the creation of the business plan. These individuals have specific knowledge and expertise in their areas of responsibility and can provide valuable input into the business plan.

Department heads have a broad understanding of the specific functions and processes within their department. They can, therefore, provide valuable insights and feedback on how the business plan may impact those areas. They can also provide information on resources, staff, and budget requirements necessary to achieve the goals outlined in the plan.

They can also play a key role in ensuring that the plan is realistic and achievable. This is because they can provide input on the feasibility of the proposed strategies and tactics. In addition, they can offer ideas for improvements. Department heads can also help to ensure that the plan takes into account the interdependencies between different areas of the business. This ensures that the plan aligns with the overall goals of the company.

4.  Key employees.

Key employees who are responsible for key functions within the business should also be involved in creating the business plan. These employees can provide valuable insights and information about their specific areas of expertise. This can help to ensure that the plan is realistic and achievable.

For example, the head of sales or the chief marketing officer can provide information about the target market, competition, and sales strategies. This can help to ensure that the business plan is realistic and achievable. Similarly, the head of production or the chief technology officer can provide information about production capabilities, technology, and equipment. This can help to ensure that the plan is realistic and achievable.

Involving key employees from different functions also helps to ensure that the plan takes into account the interdependencies between different areas of the business. This allows for a more comprehensive approach to the plan.

5.  Front-line employees.

Frontline employees often have first-hand experience with the business’s products, services, and customers. Their perspectives and ideas can be valuable in identifying opportunities and challenges.

They should also be involved in creating the business plan because they have a unique perspective on the day-to-day operations of the business. This can provide valuable insights and feedback. They can help to ensure that the plan is realistic and achievable. They do this by providing their input on the feasibility of the proposed strategies and tactics. In addition, they can offer ideas for improvements.

Front-line employees are the ones who interact with customers and clients. Consequently, they know their needs and preferences. As a result, they can provide valuable information about the effectiveness of current products and services. In addition, they can identify new opportunities for growth or expansion. Furthermore, front-line employees can also provide insight on internal processes and identify any inefficiencies.

Involvement of front-line employees in creating the business plan can also increase their engagement and motivation. This is because they will feel more connected to the company and its goals.

Involving external people

Involving external people in creating a business plan can provide valuable perspective and insights that can help to strengthen the overall business plan. This can include input from industry experts, customers, suppliers, and other stakeholders. By including external perspectives, a business can gain a better understanding of market trends, customer needs, and potential challenges. This will result in a stronger, more successful business plan.

It can also help to identify new opportunities for growth and expansion. Additionally, involving external people can help to build support and buy-in for the plan among key stakeholders. This can be important for gaining the necessary funding, resources, and support to implement the plan successfully.

For further information read our article about involving stakeholders in the creation of strategy and the business plan.

Summary

It is important to consider the input of a diverse group of people in the process of creating a business plan. This helps gain a range of perspectives and ideas. In addition, it ensures that the plan is comprehensive, realistic, and achievable. It also helps to build buy-in and support for the plan among key stakeholders. This can be important for gaining the necessary funding, resources, and support to implement the plan successfully.

When determining which individuals should be involved in creating the business plan, consider the specific needs and goals of the business. In ac also be useful to look at the key components of the business plan to give some clues to who should be involved.  Ultimately, the most important thing is to ensure that the plan is well-informed. This ensures it takes into account the needs and perspectives of all relevant stakeholders.