Business Planning and Program Planning
A strategic plan specifies how a particular program will realize its objectives. With a strategic plan, it is possible to focus efforts on the accomplishment of a program’s goals. A strategic plan provides a link between what a program seeks to accomplish and the required actions for successful program implementation (Kettner, Moroney & Martin, 2017). A business plan, on the contrary, defines the path of business. It includes a company’s organizational structure, marketing plan as well as financial projections (Kettner et al., 2017).
Impact of Business Plan on a Program’s Strategic Plan
The logic model can help understand the impact of a business plan on a program’s strategic plan. The logic model comprises five major elements such as inputs, activities, outputs, outcomes, and impacts. The inputs are the resources such as funding, facilities, staff and volunteers needed for a given program. The activities are the events or actions of a program such as running the program and data collection. Outputs are the direct products and the desired effects of a program. Impact recalls the goals of a program (Hodges & Videto, 2011).
The financial projection element of a business plan can impact the strategic planning process of a program. This medium is because the allocated budget, as well as its parameters, must be assessed to ascertain if the funds available are enough to perform the tasks and activities of a program, which is what amounts to strategic planning. Hodges and Videto (2011) asserted that the resources required to implement a program, including those available and those needed, should be reviewed to determine if there are enough resources to achieve the goals of a program. The budget must include allocations for facilities and space, staff, supplies and materials, marketing resources as well as other operational expenses. An accurate budget is vital for the success of a program, and it is critical to consider all the possible expenses plus income.
The relationship between Business Planning and Program Planning
Programs usually face resource constraints, including the difficulty to attract funding streams. Business planning, according to the United States Small Business Administration (n.d.) is a methodology that can be used to address the challenge of financial constraints systematically. A business plan can demonstrate the link or association between a proposed program and social return. Through a funded plan, it is possible for a program to secure funding sources. As such a program plan must include a budget that specifies the number of revenues needed to achieve the program’s goals and objectives. From this medium perspective, a budget is considered as an integral component rather than a stand-alone activity of program planning process (Kettner, Moroney and Martin, 2017).
The program planning process must include areas that require additional resources or areas where funding reductions must be made. Consequently, the redirection of resources must be ascertained per the program’s priorities as specified in the program’s plans, goals as well as objectives. Improper allocation of resources can lead to a situation where the program’s budgeting system hinders instead of facilitating the achievement of the program’s plans, goals as well as objectives (Kettner et al., 2017). The program planning process, should, therefore, include the funding request component of a business plan. The United States Small Business Administration (n.d.) indicates that the funding request component of a business plan outlines the funding requirements. It specifies the amount of funding needed for successful operations and how the money will be utilized. It is essential to provide a detailed description of how the money will be spent.
References
Hodges, B. C., & Videto, D. M. (2011). Assessment and planning in health programs (2nd ed.). Sudbury, MA: Jones & Bartlett Learning.
Kettner, P. M., Moroney, R. M., & Martin, L. L. (2017). Designing and managing programs: An effectiveness-based approach (5th ed.). Thousand Oaks, CA: Sage.
U.S. Small Business Administration. (n.d.).Writing a business plan. Retrieved from http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/writing-business-plan
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