Question

If you were asked to present a business plan to the CEO and Governing Body (Board of Directors), what elements of the plan do you think are most important to the CEO? What questions would you expect the Governing Body to ask you? Given this, what steps can you take in developing the plan to ensure that the plan is ultimately accepted and approved by the Governing Body?

Answer 1

The elements of a plan those are most important to CEO and Governing are:

• Business impact in terms of Revenue or increased efficiency
• Key Milestone for implementation
• Hurdles or Challenges in implementation
• Cost of the plan and return on investment

The governing body is expected to ask questions related to above elements:

• What impact it will have on company's revenue?
• How will market share and gross margin be impacted by plan?
• What is the likely implementation timely for the plan?

In order to ensure that plan is accepted and approved, below elements are important:

• Deep dive on plan to understand the challenges
• Build up proper implementation plan with milestones
• Alternate solution to multiple problems or challenges in plan
• Market analysis report to substantiate the business impact
• Financial data on return on investment, margin impact etc.