Production or Manufacturing Every manufacturing business has a production process - the way it goes about fabricating a raw or component material and creating an item with greater usefulness or desirability. Integral to the overall understanding of a production oriented business is an appreciation of how the company will manufacture its products. One straight forward way of conveying such information is to examine this activity in terms of resources, processes, and output. Resources may be characterized as those elements the firm must utilize in an effort to manufacture a desired product.
Business Case What Are the Differences? How Are They Related? The business case is organized around an action or decision, to address business case questions like those given above.
Those questions contrast with the focus of the business plan, which addresses similar issues about the organization or about the business. The business plan address questions like these: What will the "business" look like in one year? That is, what will its financial position and business performance look like then?
How does the business get to those results? What sales, margins, and revenues can we expect next year? How many years will it take this startup firm to become profitable? Confusion sometimes arises about the differences between the business case and the business plan and the ways they complement each other.
In brief, a business plan as it appears above is "all about" the "business" or the organization, or a part of the firm. The business case is designed to address questions about a single action or decision. Whereas the business plan asks what the business will look like, the business case asks: What will be the consequences in business terms if we take this or that action?
In contrast to the business plan questions above, the business case addresses issues like these: Business cases are designed to answer questions like these about the consequences of an action or decision: What will be the financial consequences if we choose X or do Y? Are there critical non-financial outcomes can we expect in either case?
What will we need as a capital budget next year if we decide to buy the service vehicles instead of leasing them? Is the investment in new phone technology justified? Is there a positive ROI? Business Case and Business Plan Compared The table below summarizes and contrasts the essential differences between a business case and a business plan.
A single action or single decision and its alternatives.Business Plan vs Business Case posted by John Spacey, February 29, updated on March 01, A business plan is a proposal for a new business or major change to an existing business.
The business case is a lengthy (text) document that is used to "sell" a business idea to an investor ot a manager. It may contain a lot of data (for example analysis of competitors, size of market). Business cases contain a lot of financial information about future liquidity, profit, cash flow, costs and sales, none of which are part of a.
LG strives to change the life and business of our customers with innovative technologies and products expanded to cater for enterprise and B2B market. The business case is a lengthy "text" document that is used to "sell" a business idea to an investor ot a manager.
It may contain a lot of data (for example analysis of competitors, size of market). Learn about key project management documents, including the business case and a benefits management plan.
A business case includes details on the project initiation and its objectives. The benefits management plan is essentially a plan that shows what . Business Humor.
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