Question

8. How to share the business development plan with the stakeholders in outline of business development plan for eco-friendly car mean?

Answer 1

Organizations have become quite proactive to include the stakeholders in all the planning meetings of the project. The stakeholder model of any business, highlights the primary relationship and span of control of the stakeholders on the business of the company. Stakeholders are the core entities who have considerable influence on the decisions of the company and can affect an activity, process or overall business process of the company. Usually the key stakeholders of a company, are:

• Providers: The suppliers and vendors of raw material and services for the company
• Users: The consumers who will use or consume the end product of the company
• Influencers: The external factors like government, trade unions, etc. which have the influence to change the course of the overall business of the company
• Governance: The executors of business of the company

For a business strategy to be comprehensive and successful, it must be inclusive of the different perspectives of the stakeholders and must address their concerns as well as considerations. So, the inclusion of different partners of the company in the strategic marketing campaign is giving out the message of diversity and inclusion and that the company considers everyone as equals. This strategy can prove to be quite successful for the company.

The structured way of developing a business plan, with the involvement of stakeholders, is as follows:

• Business Scope and Objectives must be drafted based on the customer’s needs and requirements
• Milestones and Major deliverables of the business must be identified and highlighted
• A work breakdown structure (WBS) for the business must be developed
• Based on WBS and availability of resources, the business budget must be decided
• Based on WBS, task allocation must be done to the available resources. A responsibility assignment matrix (RAM) must be developed
• Comprehensive risk management plan must be developed based on various perspectives of the stakeholders
• Business plan must be executed
• Business monitoring must be done on regular basis to identify any kind of deviations and non-conformities