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Components Of A Business Plan Essay

1025 words - 5 pages

A good, solid business plan is made up of and integrated with a marketing plan, operations plan, human resources plan and a financial plan. A business plan is essential for organizational agreement on long-term and short-term goals. The long-term goals are every three to five years, but mostly every three years secondary to the amount of external and internal changes that occur.
The marketing plan is created with the vision of the company in mind and the overall strategies it has in place to succeed. The business plan cannot exist without the marketing plan. The business plan needs to be intertwined with the marketing plan in order to maximize resources while minimizing waste. Marketing can ...view middle of the document...

Sometimes Human Resources has a major impact on determining where middle management is needed or if it isn’t needed. Drastic changes may need to occur secondary to the external environment which includes the economy and reimbursement rates from insurance companies.
Finance deals with preserving of and growing capital. A marketing plan should help the financial officer determine if risks are worth the reward. Finance also meets projected sales, controls costs, deals with competitors and even tries to predict the state of the economy within the coming years. Finance is responsible for the budgets and cash flow, but also provides input with strategies. Because finance goes beyond just the cash flow of the facility, it helps weigh risks and evaluates alternative marketing plans.
There have been major shifts in the corporate market and in the economy that have financial officers of many healthcare institutions trying to find creative ways to deal with decreases in reimbursement from insurance companies in a less than stellar economy. Also with the change of Managed Care looming, these reimbursement rates may change further, therefore driving down the budget.
The business plan for expanding a cardiology clinic in North Eastern Pennsylvania that is owned by a large hospital would entail determining if there is a demand in remote sections of the state. This can be determined by monitoring how far people come from and then surveying these patients who travel for their care for their opinion on an outreach clinic. The information can help them determine where the greatest need is and where the best place would be to open a satellite office.
The marketing team would then need to meet with the staff of the cardiology clinic. This staff would include doctors, nurses, secretaries and management staff. Proposing the data in a non-obtrusive way that offers information regarding the need for the care to be available in these areas would likely be helpful in the staff accepting the change.
The operational plan would include determining when the satellite office should be open and...

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