BUSINESS ADVISORY
Business advisory sector of our company is a full pull of knowledge and expertise gained through our experienced team and independent consultants. Our network of world class experts enables us to tailor our offer to clients’ specific needs.
Business planning
This is the process of setting an organization’s goals and developing strategies to meet those goals accordingly. A business plan is a formal statement of a set of business goals, the reasons they are believed to be attainable and the plan for reaching those goals. It provides researched information and analysis about the business, its market of operations, operational/production details and finances, including sales projections and market forecasts. Business plans may be internally or externally focused. Externally focused plans target goals that are important for external stakeholders, in particular potential investors, major customers and franchisers. They typically include detailed information about the business attempting to reach the goals. Internally focused business plans target intermediate goals required to reach external goals. They may cover the development of a new product/service, a new IT system, a restructuring of finance or the refurbishing of a factory. An internal business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.
Strategic planning
This is the process of defining an organization’s strategy or direction and making decisions on allocating its resources to pursue this strategy. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans. While a strategic plan is a type of business plan, there are several important distinctions between the two types. Strategic plan is primarily used for implementing and managing the strategic direction of an existing organization whereas a business plan is used to initially start a (new) business, obtain funding or direct operations. A strategic plan generally covers a timeframe of 3 to 5+ years whereas a business plan covers a timeframe of 1 to 3 years. A strategic plan is critical to prioritizing resources (time, money and people) to grow the revenue and increase the return on investment, whereas a business plan is critical if the business is seeking funding. A strategic plan focuses on building a sustainable competitive advantage and is futuristic in nature. In contrast, a business plan is used to assess the viability of a business opportunity, and is more tactical in nature. A strategic plan is used to communicate the direction of the organization to staff and stakeholders whereas a business plan is used to present the entrepreneur’s ideas to a potential investor.
Feasibility study
This provides an assessment and analysis of economic viability and technical specifications of business ideas related to, for instance, capital development, production expansion, rebuilding or reconstruction, equipment modernization, new product development, new business launch and new market entry. Feasibility studies aim to objectively and rationally identify the strengths and weaknesses of an existing business or proposed venture, opportunities and threats as presented by the environment, the resources required and, ultimately, the prospects for success. The two simplest criteria to judge feasibility are cost required and value to be attained. Generally, feasibility studies precede technical development and project implementation.
Financial analysis and planning
This is a key function of development planning that helps management to make important decisions pertaining to the profitability and financial health of an organization based on accurate, timely, high quality analysis and advice. The basic elements of financial analysis and planning are forecasting, budgeting, reporting and analysis, but it can also include other areas such as resource allocation, IT support, operations support and HR support.
