Tim Berry

Planning, Startups, Stories

Tim berry on business planning, starting and growing your business, and having a life in the meantime., how does innovation fit into a business plan.

This is the third of four answers to questions I got in email last week from an MBA student asking my opinion as part of his research. The question is the title: how does innovation fit into a business plan? 

Innovation changes a business plan pretty much as a reflection of how it changes a business. It adds risk, uncertainty, and interest too.

Funny thing about risk: we usually think of it as a negative, but in this case it isn’t. Risk has two sides to it: up and down.

  • The upside risk in innovation is of course the benefits to a business when innovation leads to a more desirable offering: better product, suitable for a larger market, differentiated from competition, easier to build, and so forth. We get that immediately. It’s faster, cheaper, better; higher resolution, longer lasting, lighter, and so forth.
  • The downside risk is there too. Live by innovation, die by innovation. The business that depends on innovation usually positions itself on innovation and loses big time when somebody else comes up with the next new bigger, faster, and better.

Uncertainty comes along with innovation because, by definition, what’s innovative is new; and new means it might not work, might have a fatal flaw, might not be accepted by the market, might never be finished. New also means it could take off very fast — more uncertainty — or not at all. It’s uncertainty about when the product (or service) is available, will it work, will enough people like it, are there competitors out there in the bushes where you can’t see them yet.

And interest comes with innovation too. Market makers are interested. Opinion leaders are interested. Competitors are interested. And investors are interested. To the investor, innovation means defensibility and market advantage.

So how does all of this fit into a business plan? It’s all over the plan. It’s in the forecasts, the schedules, the marketing plans, the financial strategy. It’s part of the business’ DNA.

It starts with strategy, the heart of a business plan. Innovation is part of your company’s identity, we would hope one of its strengths, and certainly a key element in business offering. It directly affects the market, both in the higher degree of guessing required (educated guessing, we hope) and in how it affects target market and message. And it affects strategy focus, too, because it turns a company towards it like plants growing towards the sun.

From there it flows easily into the flesh and bones of the plan, all of the concrete, specific, and measurable details about who does what, when, and how much it costs, and how much it brings in as revenue.

Conclusion: it’s an oblique question, in a way. Something like asking how courage fits in a novel, or color in a painting. How does direction fit into navigation?

[…] Sara Manela First mover advantage is great, except when it’s not. If your product is truly innovative, your biggest challenge is likely to be explaining what, exactly, your product is, what its […]

[…] *How Does Innovation Fit into a Business Plan? by Tim Berry […]

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Thanks Joseph. And that, of course, is what my book The Plan-As-You-Go Business Plan (see the sidebar here, on this site) is about too. Tim.

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If you know that innovation is part and parcel of your business, then select a planning methodology that is built innovation rather than one that merely accommodates it.

The Agile development approach is built for environments where the outcomes are not all clearly defined and innovation is required. In these environments it is clear that the ship will change course many times. If you know you are going to need to change directions often, especially in the early phases of the business, don't get on a Cruise ship, get on a Skidoo.

I never hear people telling entrepreneurs about the benefits of Agile development, so I am taking it on as my personal mission. See my website about it. http://www.Making-A-DREAM.com

Peace Joseph Flahiff, PMP [email protected]

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Four Essential Business Model Innovation Examples for the Modern Enterprise

By: sei team.


In today’s business landscape, organizations must be agile and open to new ideas to keep pace with ever-changing market dynamics. Fortunately, business model innovation can be a powerful tool to help companies unlock their potential value and gain the sustainable, competitive advantage they need. While product and service innovation are necessary to remain relevant, it is the innovative restructuring of a company’s business model that can truly drive transformative growth. By reevaluating and reinventing the ways in which they create and deliver value to customers, companies can discover new opportunities, improve profitability, and — most importantly — maintain that competitive edge.

Although business model innovation offers significant potential for organizations, it can be a complex undertaking. In order to achieve a successful transformation, it is essential to adopt a strategic approach and possess a deep understanding of various methodologies to apply the right one for an organization’s unique needs.

Our goal in the following sections is to explore some of the most effective types of business models, providing valuable insights into the strategies that have transformed industries and spurred growth for companies across the globe. Alongside each approach, we’ll examine business model innovation examples that showcase the power of these strategies in action.

What is Business Model Innovation?

Business model innovation involves the evaluation of a company’s existing business model to identify opportunities for improvement. At its core, the objective is to optimize, innovate, and  implement new ways of delivering value to customers  while generating revenue for a company. This can be done using a range of practices, such as identifying new customer segments, developing new products or services, creating new channels for distribution, or leveraging new technologies to improve operational efficiency. Using this approach successfully requires a thorough understanding of customer needs, market trends, and industry dynamics.

This is where diving into different innovative strategies and techniques comes into play, providing organizations with the tools they need to kick off a business model innovation project with confidence. Let’s explore four of the most effective methodologies that companies can use to drive growth and success.

1 – Disruptive Innovation

Disruptive innovation is a well-known approach to business model innovation that has been successfully employed by major companies like Uber and Netflix. This approach involves creating a new business model that disrupts an existing market by  creating a new technology or product  that enables a company to offer customers a lower-cost or more convenient solution that may not currently exist. To achieve this, you must identify a market that is underserved or overlooked by current players and develop a new way of delivering value that meets the needs of that market.

Uber, for example, disrupted the traditional taxi industry by offering a more convenient and accessible alternative. By developing a mobile app that directly connects riders with drivers, Uber created a new business model that leveraged technology to disrupt the pre-existing market. Much in the same way, Netflix revolutionized the entertainment industry by fundamentally changing how we consume media through streaming services. By embracing the transformative potential of digital technology and delivering content in an on-demand, subscription-based model, Netflix effectively flipped the script on traditional cable and broadcast television. This paradigm shift has forced legacy players to adapt or risk becoming obsolete.

Similar companies have emerged since Netflix and Uber’s inception, underscoring the effectiveness of disruptive innovation in predicting and meeting future needs. It can serve as a powerful tool for pioneering new approaches and giving your business a competitive edge.

2 – Platform Innovation

Platform innovation is another approach to business model innovation that has become increasingly popular in recent years. With this methodology, a company creates a platform that allows third-party developers to create and offer new products and services to customers. This approach can be particularly effective in industries where network effects play a significant role, such as social media or e-commerce.

Platforms such as Amazon, Facebook, and Google are prime examples of this approach in practice. These world-renowned brands have created entire ecosystems that enable developers to build on top of their existing infrastructure, creating new products and services to deliver additional value to their customers. By providing a platform for others to innovate, these companies are able to leverage the collective creativity of a large community of developers and entrepreneurs.

The key to successful platform innovation requires more than just creating a platform and inviting developers to join. Companies must establish a solid foundation that provides a robust infrastructure for developers to build on, including access to data, tools, and resources. It’s essential to ensure the platform is user-friendly, scalable, and secure to integrate seamlessly with other systems and platforms.

3 – Revenue Model Innovation

Revenue model innovation is a methodology that focuses on identifying new ways to generate income or capture value from a company’s current products or services. This approach involves rethinking and adapting the organization’s revenue model to capitalize on untapped opportunities.

A prime example of a company that has successfully employed revenue model innovation is Adobe Systems. Adobe, traditionally known for software products like Photoshop, Illustrator, and Acrobat, initially sold these software packages as one-time purchases, with customers paying a large upfront fee to own the software. However, as the market evolved and customers began to demand more flexibility and regular updates, Adobe recognized the need for a change in its revenue model.

In 2013,  Adobe transitioned from a perpetual licensing model to a subscription-based model  with the introduction of Adobe Creative Cloud. This transition to SaaS allowed customers to access Adobe’s suite of creative software tools for a monthly or annual fee. The shift not only provided customers with greater flexibility but also led to a more predictable and recurring revenue stream for Adobe. As a result, the company has experienced significant growth, with its stock price increasing substantially since the introduction of Creative Cloud.

Adobe’s successful revenue model innovation demonstrates how businesses can strategically adapt their revenue models to better serve customer needs and secure a more sustainable financial future.

4 – Customer Engagement Innovation

Companies need to seek ways to enhance customer satisfaction and loyalty. One effective approach is to transform how a company interacts with and builds customer relationships. Commonly known as customer engagement innovation, this methodology aims to provide personalized experiences, exceptional customer service, or targeted marketing efforts to improve consumer satisfaction. The approach often leverages  digital technologies and data-driven insights  to create a more seamless, convenient, and meaningful interaction between the company and its customers.

Starbucks is a great example of a company that has successfully embraced this approach. The coffee giant has built a reputation for creating a unique and welcoming in-store experience, but recognized the need to adapt as customers began to expect more digital interactions. To address this, Starbucks innovated its customer engagement strategy, leveraging digital technologies such as a mobile app to create a more personalized and convenient experience that resonated with customers.

The company used data collected through its app to analyze customer behavior, preferences, and purchase patterns, enabling it to make more informed decisions about store locations, menu offerings, and marketing strategies. By creating a seamless digital and physical experience and utilizing data-driven insights, Starbucks elevated customer engagement to new heights.

Innovate to Succeed with SEI

The ability to pivot and respond quickly to emerging challenges and opportunities is essential for companies to survive and thrive in today’s economy. These are just four of the many approaches to business model innovation your organization could take, and deciding which one is right for you is the real challenge. That’s where we can help.

At SEI, our experienced business transformation consultants are dedicated to providing clients with the strategic guidance, innovative thinking, and practical methodologies necessary to navigate the path to successful business model innovation. By leveraging our extensive experience and industry insights, we help clients identify new opportunities to grow. Contact us today  to discover how we can help you innovate and discover new ways to drive long-term success.




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Innovation in Business: What It Is & Why It’s So Important

Business professionals pursuing innovation in the workplace

  • 08 Mar 2022

Today’s competitive landscape heavily relies on innovation. Business leaders must constantly look for new ways to innovate because you can't solve many problems with old solutions.

Innovation is critical across all industries; however, it's important to avoid using it as a buzzword and instead take time to thoroughly understand the innovation process.

Here's an overview of innovation in business, why it's important, and how you can encourage it in the workplace.

What Is Innovation?

Innovation and creativity are often used synonymously. While similar, they're not the same. Using creativity in business is important because it fosters unique ideas. This novelty is a key component of innovation.

For an idea to be innovative, it must also be useful. Creative ideas don't always lead to innovations because they don't necessarily produce viable solutions to problems.

Simply put: Innovation is a product, service, business model, or strategy that's both novel and useful. Innovations don't have to be major breakthroughs in technology or new business models; they can be as simple as upgrades to a company's customer service or features added to an existing product.

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Types of Innovation

Innovation in business can be grouped into two categories : sustaining and disruptive.

  • Sustaining innovation: Sustaining innovation enhances an organization's processes and technologies to improve its product line for an existing customer base. It's typically pursued by incumbent businesses that want to stay atop their market.
  • Disruptive innovation: Disruptive innovation occurs when smaller companies challenge larger businesses. It can be classified into groups depending on the markets those businesses compete in. Low-end disruption refers to companies entering and claiming a segment at the bottom of an existing market, while new-market disruption denotes companies creating an additional market segment to serve a customer base the existing market doesn't reach.

The most successful companies incorporate both types of innovation into their business strategies. While maintaining an existing position in the market is important, pursuing growth is essential to being competitive. It also helps protect a business against other companies affecting its standing.

Learn about the differences between sustaining and disruptive innovation in the video below, and subscribe to our YouTube channel for more explainer content!

The Importance of Innovation

Unforeseen challenges are inevitable in business. Innovation can help you stay ahead of the curve and grow your company in the process. Here are three reasons innovation is crucial for your business:

  • It allows adaptability: The recent COVID-19 pandemic disrupted business on a monumental scale. Routine operations were rendered obsolete over the course of a few months. Many businesses still sustain negative results from this world shift because they’ve stuck to the status quo. Innovation is often necessary for companies to adapt and overcome the challenges of change.
  • It fosters growth: Stagnation can be extremely detrimental to your business. Achieving organizational and economic growth through innovation is key to staying afloat in today’s highly competitive world.
  • It separates businesses from their competition: Most industries are populated with multiple competitors offering similar products or services. Innovation can distinguish your business from others.

Design Thinking and Innovation | Uncover creative solutions to your business problems | Learn More

Innovation & Design Thinking

Several tools encourage innovation in the workplace. For example, when a problem’s cause is difficult to pinpoint, you can turn to approaches like creative problem-solving . One of the best approaches to innovation is adopting a design thinking mentality.

Design thinking is a solutions-based, human-centric mindset. It's a practical way to strategize and design using insights from observations and research.

Four Phases of Innovation

Innovation's requirements for novelty and usefulness call for navigating between concrete and abstract thinking. Introducing structure to innovation can guide this process.

In the online course Design Thinking and Innovation , Harvard Business School Dean Srikant Datar teaches design thinking principles using a four-phase innovation framework : clarify, ideate, develop, and implement.

Four phases of design thinking: clarify, ideate, develop, and implement

  • Clarify: The first stage of the process is clarifying a problem. This involves conducting research to empathize with your target audience. The goal is to identify their key pain points and frame the problem in a way that allows you to solve it.
  • Ideate: The ideation stage involves generating ideas to solve the problem identified during research. Ideation challenges assumptions and overcomes biases to produce innovative ideas.
  • Develop: The development stage involves exploring solutions generated during ideation. It emphasizes rapid prototyping to answer questions about a solution's practicality and effectiveness.
  • Implement: The final stage of the process is implementation. This stage involves communicating your developed idea to stakeholders to encourage its adoption.

Human-Centered Design

Innovation requires considering user needs. Design thinking promotes empathy by fostering human-centered design , which addresses explicit pain points and latent needs identified during innovation’s clarification stage.

There are three characteristics of human-centered design:

  • Desirability: For a product or service to succeed, people must want it. Prosperous innovations are attractive to consumers and meet their needs.
  • Feasibility: Innovative ideas won't go anywhere unless you have the resources to pursue them. You must consider whether ideas are possible given technological, economic, or regulatory barriers.
  • Viability: Even if a design is desirable and feasible, it also needs to be sustainable. You must consistently produce or deliver designs over extended periods for them to be viable.

Consider these characteristics when problem-solving, as each is necessary for successful innovation.

The Operational and Innovative Worlds

Creativity and idea generation are vital to innovation, but you may encounter situations in which pursuing an idea isn't feasible. Such scenarios represent a conflict between the innovative and operational worlds.

The Operational World

The operational world reflects an organization's routine processes and procedures. Metrics and results are prioritized, and creativity isn't encouraged to the extent required for innovation. Endeavors that disrupt routine—such as risk-taking—are typically discouraged.

The Innovative World

The innovative world encourages creativity and experimentation. This side of business allows for open-endedly exploring ideas but tends to neglect the functional side.

Both worlds are necessary for innovation, as creativity must be grounded in reality. You should strive to balance them to produce human-centered solutions. Design thinking strikes this balance by guiding you between the concrete and abstract.

Which HBS Online Entrepreneurship and Innovation Course is Right for You? | Download Your Free Flowchart

Learning the Ropes of Innovation

Innovation is easier said than done. It often requires you to collaborate with others, overcome resistance from stakeholders, and invest valuable time and resources into generating solutions. It can also be highly discouraging because many ideas generated during ideation may not go anywhere. But the end result can make the difference between your organization's success or failure.

The good news is that innovation can be learned. If you're interested in more effectively innovating, consider taking an online innovation course. Receiving practical guidance can increase your skills and teach you how to approach problem-solving with a human-centered mentality.

Eager to learn more about innovation? Explore Design Thinking and Innovation ,one of our online entrepreneurship and innovation courses. If you're not sure which course is the right fit, download our free course flowchart to determine which best aligns with your goals.

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Setting up an innovation start-up, create a business plan for innovation start-up.

A novel idea is the starting point of every innovative business. An innovation business plan will help you to:

  • validate the feasibility of that idea
  • evaluate the market potential
  • verify that there is a real demand for your product

It can also help provide your innovation start-up with credibility and focus, which is vital if you want to attract investors for your innovation start-up.

Innovative business plan - key elements

Your business plan for innovation should show:

  • how you will develop and exploit your invention
  • the capability and experience of your team
  • how you will finance costs
  • how investors will be able to realise their profits

Other key questions that your innovative business plan should answer include:

  • What is unique about the innovation and is it protected?
  • Who will buy it and why?
  • What will it cost to deliver and how much will it sell for?
  • What is the competition, and how do you propose to tackle this?
  • When will the business start receiving income and when will it break even?

For more information on finance and funding, see funding for innovation start-ups and exit strategies for innovation start-ups .

How to structure a business plan for innovation?

A sample business plan structure for innovation start-ups may involve:

  • executive summary
  • description of a business idea or your business statement
  • product or service description, including how you will exploit any new technology or IP
  • market analysis, including trends, needs and growth projections
  • competitor analysis - looking at their strength and weaknesses, and opportunities
  • marketing plan and strategies
  • management and operations, including your business' legal and organisational structure
  • financial planning and resource requirements
  • risk management, covering business, technology or financial risks

Detailed guidance is available on how to prepare a business plan and tailor your business plan to secure funding .

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The Strategyzer Business Model Canvas is a tool that allows you to describe, design, challenge, invent, and pivot your business model. Learn more by watching the  Business Model Canvas Explained from Strategyzer on Vimeo .

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Knowledge at Wharton Podcast

How entrepreneurs can create effective business plans, march 2, 2010 • 16 min listen.

When an entrepreneur has identified a potential business opportunity, the next step is developing a business plan for the new venture. What exactly should the new plan contain? How can the entrepreneur ensure it has the substance to find interest among would-be investors? In this installment of a series of podcasts for the Wharton-CERT Business Plan Competition, Wharton management professor Ian MacMillan explains that business plans must contain several crucial elements: They must articulate a market need; identify products or services to fill that need; assess the resources required to produce those products or services; address the risks involved in the venture; and estimate the potential revenues and profits.

business plan entreprise innovation

An edited transcript of the interview appears below:

Knowledge at Wharton: Professor MacMillan, thank you for speaking with us about the necessity of entrepreneurs writing business plans. To start with a basic question, what exactly is a business plan?

Ian MacMillan: A business plan to me is a 25-page, maximum 30-page, document, which is a description, analysis and evaluation of a venture that you want to get funded by somebody. It provides critical information to the reader — usually an investor — about you, the entrepreneur, about the market that you are going to enter, about the product that you want to enter with, your strategy for entry, what the prospects are financially, and what the risks are to anybody who invests in the project.

Knowledge at Wharton: Could you explain some of these elements in a little more detail and describe how entrepreneurs can develop an effective business plan?

MacMillan: Let me start by saying that you probably want to avoid developing a detailed business plan unless you have done some initial work. Basically what happens is that by doing a little bit of work, you earn the right to do more work. The first thing I would do before you start a business plan is think about a concept statement. A concept statement is about three to five pages that you put together and share with potential customers or investors just to see if they think it’s worth the energy and effort of doing more detailed work.

The concept statement has a few pieces to it. You are going to have a description of the market need that has to be fulfilled; a description of the products or services that you think are going to fulfill that need; a description of the key resources that you think are going to be needed to provide that product or service; a specification of what resources are currently available; an articulation of what you think the risks are; and then a sort of rough and ready estimate of what you think the profits and profitability will be.

The idea is to put together this concept document and begin to share it around with people who are going to have to support your venture if you take it forward. This allows you to rethink as a result of feedback that you get. You might get word back from the various stakeholders — like potential customers or distributors — that this really wasn’t such a good idea after all. That saves you the energy and effort of putting together a big business plan.

Knowledge at Wharton: Assuming the concept statement works out and you want to move towards the business plan, what else would you need? And where can you find the information? Some information can be hard to locate, especially about your competitors.

MacMillan: It’s really important to go out and speak to your potential customers. You need to find the people who you think will buy your product and talk to them about what dissatisfies them with their current offerings. You should get a sense from them about who is providing the alternative at the moment. Remember, the world has gone for maybe 100,000 years without your idea — and people are getting by; they’re not dying. Something out there is servicing their need. So what is the closest competitive alternative to what you want to offer?

That is what you need to find out — and that involves talking and listening. And for all the enthusiasm you have for your venture or your idea, you really need to listen to people who are eventually going to write a check for it.

Before you go on to write a business plan, you have to do some more work. If the concept statement looks good, then the next step is to do a 15- to 20-page feasibility analysis. This means we are now going to take this idea to the next level. We’ve learned from potential customers and distributors. We’ve learned who the major competitors are. We’ve shaped the idea more clearly, and now we’re digging deeper.

The next challenge you face is to say, well, if you start this business, what evidence do you have that the market actually wants it? Who do you think would write a check for your product? You need to articulate what makes your product or your service feasible. What has to be done in order to make this thing real? You need a description of how you intend to enter the market, a description of who the major competitors are, a preliminary plan — a very rough plan — which specifies what you think your revenues and profits are going to be, and an estimate of what you think the required investment will be. And only then, once you have articulated that, and once again shared it with your stakeholder community, will you perhaps be able to go and write a business plan.

Knowledge at Wharton: Once you have done your feasibility analysis and assuming you get the go ahead from your stakeholders, what is the next step?

MacMillan: The idea of the business plan is to convince the stakeholders. First, what we need to do in a business plan is show that we understand the needs — the unmet needs — of potential customers. Second, we need to understand the strengths and weaknesses of the current most competitive offering out there. Third, we need to understand the skills and capabilities that you and your team have as entrepreneurs. Next we need to understand what the investors need to get out of their investment, because they have to put their money in and they need to have some kind of sense of what they are going to get in terms of returns. In addition, the investment needs to be competitive with alternative investments that the investors might make.

The most important idea in the business plan is to articulate and satisfy the different perspectives of various stakeholders. This process sets in motion some basic requirements in the business plan — to tee up right from the start — evidence that the customer will accept it. Probably a third of the ventures out there that fail are because some person came up with the right product that they thought the world would love and then found out that the customers couldn’t care less. What you want to try to do in a business plan is convince the reader that there are customers out there who will in fact buy the product — not because it’s a great product, but because they want it and they are willing to pay for it.

Moreover, you need to convince the reader that you have some kind of proprietary position that you can defend. You also need to convince your readers that you have an experienced and motivated management team and that you have the experience and the management capabilities to pull it off. You need to convince potential investors that they are going to get a better return than they could get elsewhere, so you need to estimate the net present value of this venture. You need to show that the risk they are taking will be accompanied by appropriate returns for that risk. If we look at the contents of a typical business plan, you need to be able to articulate all these issues in some 25 to 30 pages. People get tired if they have to read too much.

Now let’s look at the various components of the business plan document:

First, you need an executive summary that grabs the attention of the potential investor. This should be done in no more than two pages. The executive summary is meant to convince the potential investor to read further and say, “Wow! This is why I should read more about this business plan.”

Next, you need a market analysis. What is the market? How fast is it growing? How big is it? Who are the major players? In addition, you need a strategy section. It should address questions such as, “How are you going to get into this market? And how are you going to win in that marketplace against current competition?”

After that, you need a marketing plan. How are we going to segment the market? Which parts of the market are we going to attack? How are we going to get the attention of that market and attract it to our product or service?

You also need an operations plan that answers the question, “How are we going to make it happen?” And you need an organization plan, which shows who the people are who will take part in the venture.

You need to list the key events that will take place as the plan unfolds. What are the major things that are going to happen? If your plan happens to be about a physical product, are you going to have a prototype or a model? If it happens to be a software product, are you going to have a piece of software developed — a prototypical piece of software? What are the key milestones by which investors can judge what progress you are making in the investment? Remember that you will not get all your money up front. You will get your funds allocated contingent on your ability to achieve key milestones. So you may as well indicate what those milestones are.

You should also include a hard-nosed assessment of the key risks. For example, what are the market risks? What are the product risks? What are the financial risks? What are the competitive risks? To the extent that you are upfront and honest about it, you will convince your potential investors that you have done your homework. You need to also be able to indicate how you will mitigate these risks — because if you can’t mitigate them, investors are not going to put money into your venture.

After that, what you get down to is a financial plan where you basically do a five-year forecast of what you think the finances are going to be — maybe with quarterly data or projections for the first two years and annual for the next three years.

You need a pro forma profit and loss statement. You need a pro forma balance sheet if you have assets in the balance sheet. You need to have a pro forma cash flow. Your cash flow is important, because it is the cash flow that kills. You may have great profits on your books but you may run out of money — so you need a pro forma cash flow statement. And you need a financing plan that explains, as the project unfolds, what tranches of financing you will need and how will you go about raising that money.

Finally you need a financial evaluation that tells investors, if you make this investment, what is its value going to be to you as an investor. That is basically the structure of the plan.

Knowledge at Wharton: Let’s say you have written a business plan and presented it to your investors. How closely do you have to be tied to the plan? Does it mean that once you are executing against the plan, you should reject new opportunities you find because they are not part of your plan? Or should you build in some flexibility that allows you to explore emerging opportunities?

MacMillan: Is this an opportunity for me to speak about discovery-driven planning?

Knowledge at Wharton: Of course.

MacMillan: Okay. The thing about most entrepreneurial ventures is that your outcome is uncertain — because what you are doing is very new. It is very, very hard to predict what the actual outcome is going to be. One of the most fundamental flaws is that in the face of unfolding uncertainty, you single-mindedly and bloody-mindedly pursue the original objective.

The reality is that the true opportunity will emerge over time. What venture capitalists do is they will put a small amount of money into the project, allow the entrepreneur to enter that market space and then — contingent on performance and contingent on what apparent traction you can get in that market space — completely re-plan to find out what the true opportunity really is. It is insanity to insist that people actually meet their plan as it was originally written.

This doesn’t mean you compromise your objectives. The idea is that I want to keep on trying to meet my objectives, but how I meet them must change as the plan unfolds. That’s basically what led to all the work that Wharton has done in the last few years on discovery driven planning. It’s a way of thinking about planning that says, “I’m going to make small investments. If I’m wrong early, I can fail fast, fail cheap and move on. But as I find out what the true opportunity is, I can aggressively invest in what this opportunity is.”

Knowledge at Wharton: Could you give an example of a company that has used this discovery-driven planning process to take its business to the next level?

MacMillan: One company that has done the most in this area is Air Products. What they have been able to do is use discovery-driven planning to unfold completely different businesses from the ones that they were in. Air Products makes things like carbon dioxide and oxygen and nitrogen. It is a very old-line company. Using discovery-driven planning, they have been able to move aggressively into, for instance, the service sector. Once they recognized that they were able to deliver reliably and predictably in the face of uncertain demand, they developed a set of skills that allowed them to enter the service business where the return on investment and return on assets are far higher than putting a huge plant in place.

Knowledge at Wharton: Professor MacMillan, thanks so much.

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Le business plan d’une entreprise innovante

Le business plan est un outil indispensable pour les entreprises innovantes , car un p rojet innovan t nécessite la plupart du temps d’obtenir un financement pour couvrir les dépenses liées aux opérations de recherche et de développement prévues .

Pour plusieurs raisons, l’établissement du business plan d’une entreprise innovante est plus compliqué à effectuer qu’un business plan classique. Comme nous le verrons ci-dessous, les difficultés apparaissent surtout pour la réalisation de la partie financière du business plan.

business plan d'une entreprise innovante

Difficultés liées au business plan d’une entreprise innovante

Voici les principales difficultés rencontrées dans le cadre de la réalisation du business plan d’une entreprise innovante :

  • Tout d’abord, c’est très compliqué d’appréhender correctement un nouveau marché ou un marché encore inexistant , les prévisions de chiffre d’affaires sont donc très complexés.

Face à ce problème, il convient de se baser sur une analyse poussée de la demande et rester prudent dans les estimations. Idéalement, il faut s’appuyer sur du concret, comme des volumes d’affaires prévues avec les futurs partenaires si vous parvenez à développer le produit.

  • Ensuite, beaucoup d’entrepreneurs ne jugent pas correctement la date de  début de leur activité  et donc la date à laquelle ils commenceront à générer puis encaisser du chiffre d’affaires.  La phase de recherche et de développement est prévue à la base sur une période souvent trop courte .

Il faut toujours prévoir une marge de manœuvre pour prévenir le dépassement des délais au niveau de la recherche et du développement. Des imprévus interviennent souvent dans les opérations de recherche. Prévoir une marge de 25% de temps supplémentaire est plus prudent.

  • Des éléments spécifiques, notamment fiscaux et sociaux, sont un peu compliqué à budgétiser pour l’entrepreneur non averti dans ces domaines. C’est par exemple le cas du crédit d’impôt recherche ou des avantages liés à la jeune entreprise innovante .

Nous évoquons ce point dans la seconde partie de cet article.

  • Enfin, les business plan liés aux projet innovants ont toujours tendance à être trop optimistes .Persuadé d’avoir trouvé une idée révolutionnaire qui va cartonner, nous avons trop tendance à partir dans des projections déconnectées de la réalité.

Cette tendance n’est pas sans risque, car elle contribue à surestimer les capacités futures de l’entreprise à rembourser ses dettes. Il est important de partager ses hypothèses avec d’autres entrepreneurs et des professionnels. Si vous êtes dans un incubateur ou une pépinière liée à l’innovation, plusieurs personnes pourront vous donner des avis et partager leur expérience.

Spécificités liées au business plan d’une entreprise innovante

Nous allons aborder ici deux points essentiels liés au business plan d’une entreprise innovante : la partie rédactionnelle et la budgétisation d’éléments spécifiques aux entreprises innovantes.

Importance de la partie rédactionnelle du business plan

Dans tout business plan, la partie rédactionnelle est très importante pour donner au lecteur un bon aperçu du projet.

Lorsqu’il s’agit d’un projet innovant, il va falloir consacrer tout une partie à l’explication de l’idée innovante, de l’intérêt qu’elle peut susciter sur le marché, de sa différence avec l’existant,  des chances de réussite technique de l’opération et du succès commercial pouvant en résulter. C’est une partie cruciale pour convaincre les lecteurs du business plan.

La présentation de l’équipe est également importante : les compétences de ses membres doivent être en adéquation avec les difficultés à résoudre. Si vous avez une très bonne idée mais une équipe trop limitée pour la développer, un investisseur refusera de financer le projet.

Avantages fiscaux et sociaux liés à l’innovation

Les avantages fiscaux et sociaux constituent un plus pour l’entreprise mais le business plan doit à la base être conçu sans ces avantages afin de calculer le besoin exact de financement du projet et de sa rentabilité.

Ils doivent être incorporés dans un second temps si l’entreprise a de sérieuses chances d’en bénéficier. L’intervention d’un expert-comptable est recommandée sur ce point.

Les principaux dispositifs à incorporer sont les suivants :

  • le crédit d’impôt recherche ,
  • le crédit d’impôt innovation ,
  • les avantages fiscaux et sociaux des jeunes entreprises innovantes .

Idéalement, nous vous conseillons de vous faire accompagner par un professionnel qui maîtrise les subtilités liées aux créations d’entreprises innovantes.

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1 commentaire sur “Le business plan d’une entreprise innovante”

Les chances de réussite d une innovation sont plus fortes si elle supprime un problème existant ou marque une évolution. Il peut s avérer utile de procéder une enquête consommateurs en négatif car les gens sont plus capables d exprimer ce qui ne leur convient pas plutot que de se projeter dans le futur et réagir par rapport à une rupture technologique. Le facteur temps est certainement la variable la plus difficile à appréhender et il ne faut surtout pas négliger la résilience, la résistance au changement et la force des habitudes.

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How to Craft an Opportunity Business Plan

business plan entreprise innovation

Before a presentation on The Great Gatsby  to his college rhetoric class, Nico Aguilar suffered an anxiety attack so severe that he had to leave the room. Determined not to let that happen again, Aguilar read books on the subject and got coaching to become more comfortable with public speaking. 

Determined to help others overcome similar difficulties, he came up with Speeko , an AI-powered tool that helps users improve their public speaking skills. He and his co-founders, all engineers, built an algorithm that measures one’s speaking voice and then offers tips for improvement. The team had the algorithm down pat, but the business approach? “We were completely lost there,” Aguilar said. 

They turned to their mentors at tech incubator Techstars and the Polsky Center for Entrepreneurship and Innovation at University of Chicago for help in writing that critical document: a business plan.

3 Business Plan Examples

  • An operating plan. This sketches out a business’ trajectory for the next 12 to 24 months. The plan includes staffing, revenue, projections, inventory and other factors necessary to running a business. Operating plans should be updated constantly as the business and market evolve.
  • A financial plan, which examines the business from a cash-flow perspective. Take this plan, which takes a conservative view of your business’ finances, to the bank if you’re planning to get a loan.
  • An opportunity or a vision plan. That’s the kind entrepreneurs present to potential equity investors. This plan should be aggressive, optimistic, and show how you will use your investors’ money to grow your business. It represents what’s possible if lack of capital is not holding you back.

The plan, written with the help of a tool called Business Model Canvas (more on that soon), included Speeko’s value proposition, its market, customers and predicted use. The plan went through multiple iterations and took several months to write. “It’s a big process to put together facts and figures,” Aguilar said. Their efforts paid off when Speeko won Polsky Center’s 2020 Alumni New Venture Challenge, a prize that comes with a $175,000 investment.  Brimming with enthusiasm, entrepreneurs tend to stuff business plans with everything from detailed finances to long-term projections. Avoid overstuffing by deciding what kind of business plan to write before putting pen to paper, said Waverly Deutsch, adjunct professor at the University of Chicago Booth School of Business . Deutsch teaches the Global New Venture Challenge course, a venture launch competition for the executive MBA program. 

Business plan executive summary

If it’s a new business, then write an opportunity or vision plan to take to potential equity investors. This plan should be “highly optimistic” and not at all conservative, Deutsch said. “It’s what you can do if you raise the money you want to raise,” she said.

Gather Material

The opportunity or vision plan must show investors that your business presents a real opportunity, demonstrate that you can build the company you propose to build, and show investors how their money will help you build your company. 

To prove the opportunity, outline your competitive differentiation in the marketplace. Show what problem your product solves for which market, the size of that market, and that customers are willing to pay for your product. If your product is what Deutsch calls “fundamentally different,” along the lines of Airbnb or Uber, “there’s a reason for customers to choose you,” she said, but those types of startups are rare. 

“Most businesses are evolutionary, not revolutionary,” Deutsch said. New businesses not offering a radically different solution can differentiate on quality, service, business model, go-to-market approach, positioning in the market or other factors. 

Your plan also must prove that you can build the company you propose to build. Details about arrangements with potential suppliers, any intellectual property involved in your business, and the status of the product, be it a demo or a prototype, are critical parts of an opportunity plan.

Another critical part: Your and your partners’ experience and knowledge as they pertain to launching a business. Avoid simply pasting your traditional job-seeking resume into the business plan. Instead, examine it carefully and draw solid lines between your past experience and the skills your new business will require. “It’s your job to sell your and your team’s experience to the investor,” Deutsch said, adding that entrepreneurs shouldn’t underestimate this portion of the plan. Lacking a tangible product and real-time market experience, “it all comes down to the people,” she said. 

The third element: Your plan for creating inroads and a beachhead in your market. “De-risk the business for investors,” Deutsch said. Offer a detailed operating plan, complete with compelling milestones, for the next 12 to 24 months. Show them that their money will help create a repeatable, scalable sales process and a robust product truly valuable in the marketplace, she said. Show them that their money will help your startup get to the next round of funding. “Investors are always looking at that next round,” she said. 

Further Reading What Investors Look for in an AI Startup

Prepare to Pivot

It is entirely possible that you’ll start writing and soon figure out that your big idea isn’t so big after all. “That’s good to learn early,” said Bob Bridge, executive director and founder of SWAN Impact Network , an angel investing organization with branches in Austin and Dallas, Texas. “Companies often pivot, especially when they start testing their ideas with customers.” 

He suggested avoiding the “trap” of using feedback from 100 potential customers to decide whether a business is a go. When presented with an idea, “people, wanting to be helpful, will say that the idea sounds interesting, that it could work for them,” Bridge said. “The CEO hears this and it’s confirmation bias saying, ‘I think I have my first customer.’”

Instead, approach potential customers to see if they have the problem your business wants to solve, then ask for more information on that problem. “Ask questions and start peeling the onion and become the world expert on that problem,” he said. If you have the solution for exactly that problem, then discuss the budget with these potential customers, and confirm that your solution is a must-have, not a nice-to-have for them. 

“Then you understand that there’s a problem to solve and people are willing to pay for the solution,” Bridge said. “That’s what we like to hear, that entrepreneurs have validated the business with real customers,” he said. “And when we do due diligence, before we would invest, we’d ask to speak to those customers and ask them if this is a nice-to-have or a must-have.”

Further Reading There Are 5 Basic Types of Entrepreneurs. Which 1 Are You?

Choose a Medium

“Nobody writes a 20-page Word document and I promise you no investor ever reads one,” said Bridge. He offers Business Model Canvas , a tool readily available online, as one option to the traditional prose document. 

Business Model Canvas breaks down a business into nine parts: Key partners, activities and resources; value propositions; customer relationships and segments; channels; cost structure and revenue streams. The tool shows how all the parts connect, and via whiteboard, can be reconfigured and workshopped. Business Model Canvas “helped us try out 10 ideas before committing to one in the business plan,” said Aguilar of Speeko. The format “forces your business to be simple, which is a really good thing when you’re starting out,” he said.

Business Model Canvas template

A PowerPoint deck also works and is a must when presenting to investors. Bridge recalls driving to VC appointments on Silicon Valley’s Sand Hill Road. After every meeting, he’d pull over to revise his pitch deck. “On any given day, that PowerPoint may have been tweaked three or four times to make it more investable,” he said. “You’re always learning and improving your pitch, and it’s easy to do that with a PowerPoint slide.” 

Deutsch, a proponent of telling a story in a business pitch, recommends a combination of media to present the story most effectively. “You need to have multiple communication tools available to you,” she said. She advised thinking along the lines of 10 pages of text, 10 pages of charts and data and more detail, and a one-page executive plan. Two decks, one light on text, for the presentation, and another more detailed leave-behind complete the business-plan package. 

Deutsch said that every founder needs to be involved in the business plan, with each contributing their own area of expertise. The team member who’s the best writer should be responsible for making sure the plan is written in a unified voice, and that it is free of grammatical and spelling errors. She also suggested having an advisor read the plan to spot unanswered questions. There will be many, she said, and that’s not a cause for concern. “Don’t let perfect be the enemy of good,” she said. “You will never answer all the questions about your business until you’re actually executing on your business.”

Bridge agrees. “It takes twice as much time and twice as much money to hit milestones,” he said. “We know that and we’re comfortable with it.”

Great Companies Need Great People. That's Where We Come In.

  • 11.4 The Business Plan
  • Introduction
  • 1.1 Entrepreneurship Today
  • 1.2 Entrepreneurial Vision and Goals
  • 1.3 The Entrepreneurial Mindset
  • Review Questions
  • Discussion Questions
  • Case Questions
  • Suggested Resources
  • 2.1 Overview of the Entrepreneurial Journey
  • 2.2 The Process of Becoming an Entrepreneur
  • 2.3 Entrepreneurial Pathways
  • 2.4 Frameworks to Inform Your Entrepreneurial Path
  • 3.1 Ethical and Legal Issues in Entrepreneurship
  • 3.2 Corporate Social Responsibility and Social Entrepreneurship
  • 3.3 Developing a Workplace Culture of Ethical Excellence and Accountability
  • 4.1 Tools for Creativity and Innovation
  • 4.2 Creativity, Innovation, and Invention: How They Differ
  • 4.3 Developing Ideas, Innovations, and Inventions
  • 5.1 Entrepreneurial Opportunity
  • 5.2 Researching Potential Business Opportunities
  • 5.3 Competitive Analysis
  • 6.1 Problem Solving to Find Entrepreneurial Solutions
  • 6.2 Creative Problem-Solving Process
  • 6.3 Design Thinking
  • 6.4 Lean Processes
  • 7.1 Clarifying Your Vision, Mission, and Goals
  • 7.2 Sharing Your Entrepreneurial Story
  • 7.3 Developing Pitches for Various Audiences and Goals
  • 7.4 Protecting Your Idea and Polishing the Pitch through Feedback
  • 7.5 Reality Check: Contests and Competitions
  • 8.1 Entrepreneurial Marketing and the Marketing Mix
  • 8.2 Market Research, Market Opportunity Recognition, and Target Market
  • 8.3 Marketing Techniques and Tools for Entrepreneurs
  • 8.4 Entrepreneurial Branding
  • 8.5 Marketing Strategy and the Marketing Plan
  • 8.6 Sales and Customer Service
  • 9.1 Overview of Entrepreneurial Finance and Accounting Strategies
  • 9.2 Special Funding Strategies
  • 9.3 Accounting Basics for Entrepreneurs
  • 9.4 Developing Startup Financial Statements and Projections
  • 10.1 Launching the Imperfect Business: Lean Startup
  • 10.2 Why Early Failure Can Lead to Success Later
  • 10.3 The Challenging Truth about Business Ownership
  • 10.4 Managing, Following, and Adjusting the Initial Plan
  • 10.5 Growth: Signs, Pains, and Cautions
  • 11.1 Avoiding the “Field of Dreams” Approach
  • 11.2 Designing the Business Model
  • 11.3 Conducting a Feasibility Analysis
  • 12.1 Building and Connecting to Networks
  • 12.2 Building the Entrepreneurial Dream Team
  • 12.3 Designing a Startup Operational Plan
  • 13.1 Business Structures: Overview of Legal and Tax Considerations
  • 13.2 Corporations
  • 13.3 Partnerships and Joint Ventures
  • 13.4 Limited Liability Companies
  • 13.5 Sole Proprietorships
  • 13.6 Additional Considerations: Capital Acquisition, Business Domicile, and Technology
  • 13.7 Mitigating and Managing Risks
  • 14.1 Types of Resources
  • 14.2 Using the PEST Framework to Assess Resource Needs
  • 14.3 Managing Resources over the Venture Life Cycle
  • 15.1 Launching Your Venture
  • 15.2 Making Difficult Business Decisions in Response to Challenges
  • 15.3 Seeking Help or Support
  • 15.4 Now What? Serving as a Mentor, Consultant, or Champion
  • 15.5 Reflections: Documenting the Journey
  • A | Suggested Resources

Learning Objectives

By the end of this section, you will be able to:

  • Describe the different purposes of a business plan
  • Describe and develop the components of a brief business plan
  • Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

  • These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
  • Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

  • You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
  • Would you have started the Laughing Man Foundation?
  • What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

  • What steps should the new restaurant take to create a new business plan?
  • Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

  • 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
  • 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
  • 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
  • 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
  • 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
  • 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
  • 54 Foodstart. http://foodstart.com
  • 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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How to Write a Business Plan, Step by Step

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1. Write an executive summary

2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. add additional information to an appendix, business plan tips and resources.

A business plan is a document that outlines your business’s financial goals and explains how you’ll achieve them. A strong, detailed plan will provide a road map for the business’s next three to five years, and you can share it with potential investors, lenders or other important partners.


Here’s a step-by-step guide to writing your business plan.

» Need help writing? Learn about the best business plan software .

This is the first page of your business plan. Think of it as your elevator pitch. It should include a mission statement, a brief description of the products or services offered, and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description, which should contain information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, it should cover the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

business plan entreprise innovation

The third part of a business plan is an objective statement. This section spells out exactly what you’d like to accomplish, both in the near term and over the long term.

If you’re looking for a business loan or outside investment, you can use this section to explain why you have a clear need for the funds, how the financing will help your business grow, and how you plan to achieve your growth targets. The key is to provide a clear explanation of the opportunity presented and how the loan or investment will grow your company.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch the new product and how much you think sales will increase over the next three years as a result.

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

Your sales strategy.

Your distribution strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

You may also include metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

» NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

List any supporting information or additional materials that you couldn’t fit in elsewhere, such as resumes of key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts and personal and business credit history. If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are some tips to help your business plan stand out:

Avoid over-optimism: If you’re applying for a business loan at a local bank, the loan officer likely knows your market pretty well. Providing unreasonable sales estimates can hurt your chances of loan approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors, taking their mind off your business and putting it on the mistakes you made. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. You can search for a mentor or find a local SCORE chapter for more guidance.

The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

On a similar note...

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Enterprise innovation: Business model innovation

Business model innovation (BMI) is about delivering existing products that are produced by existing technologies to existing markets.

Cliff Notes

  • To drive meaningful impact, BMI ideas must take root within the organisation, receive sufficient funding and be given the runway needed to achieve scale.
  • Implementation challenges are often the largest obstacle many companies face when innovating their business models.

Innovation is becoming an increasingly popular term in the business world.

I t’s used in relation to many different aspects of business, including product/service innovation, process innovation (developing new delivery methods at radically better cost or experience, or both) and finally business model innovation (making your money from a different source within the value chain). Business model innovation (BMI) is about delivering existing products that are produced by existing technologies to existing markets.

Drawing on the idea that any business model is essentially a set of key decisions that collectively determine how a business earns its revenue, incurs its costs and manages its risks, innovations to the model ought to be viewed as changes to those decisions: what your offerings will be, when decisions are made, who makes them and why. Without a framework for identifying opportunities it is hard to be systematic about the process, which explains why it is generally done on an ad hoc basis. However, focussed business models are most effective when they appeal to distinct market segments with clearly differentiated needs.

So, why would an organisation undertake a BMI process? There’s a multitude of reasons, including industry disruption, reduced returns on products or services and ineffective decision-making strategies. The traditional tools for dealing with these, including product innovation and pricing strategy, typically involves changes to one or two dimensions of a business. By contrast, BMI involves changes to a much broader set of dimensions. The ability to change multiple elements simultaneously – an in a coordinated manner – is what allows BMI to do the work of traditional growth levers but avoid the pitfalls. The key advantage of BMI over traditional growth levels is that it affords businesses greater degrees of freedom. It can create more value because an orchestrated set of changes across the value proposition and business model can create a new basis of advantage that is harder for rivals to match.

business plan entreprise innovation

The first step of changing multiple dimensions of a business is to begin by establishing exactly what components need to be changed. A company could examine the nature of their revenue stream and change it to align with the interests of stakeholders. This works best when performance can be fully and unambiguously defined. For example, Hilti, a tool manufacturing business, shifted from selling tools to selling a tool management service aimed at alleviating the burden on contractors so they could focus on getting the job done. Its service is accompanied by a new revenue and operating model. Many contractors who, in the past had purchased a small share of their tools from each competitor, dramatically increased their share of business with Hilti in order to obtain the full benefits of the company’s tool management service. Hilti’s success depended on possessing a deep understanding of how the customer uses tools and what causes them frustration. Based on this understanding, the company expanded its views of the role it could play in delivering value to customers.

Another component of a business that its leaders might want to look at is the decision-making strategies that are currently being implemented and how these can be changed. There’re several methods to doing this, such as changing the order in which decisions are made, splitting up the key decisions or passing the decision risk to the party that can best manage the consequences. In many business models’ key decisions are made by those with less to gain than others in the chain. A company’s customers, for example, often feel that they gain less when they buy a company’s product than the company does. That was a problem facing Netafim, the Israeli market leader in drip-irrigation technology.

Despite demonstrating increased crop yields by 3-500% the technology was an initially hard sell. Customers did not trust the company and felt that they were shouldering a lot of risk in adopting its approach. Netafim solved the problem by offering a free integrated package that included system design & installation, all required hardware and periodic maintenance. They went so far as to change its mission statement from “making the best drip-irrigation equipment for customers” to “helping the world grow more with less”, an objective far more aligned with the objectives of its customers, the farmers. Payback came from a share of each farmer’s increased crop yields. Thus Netafim bore all the risk of the decision. They could do this because they realised they had the most to gain from the adoption of its technology. As farmers achieved greater success, word would spread; Netafim would increase its sales and realise economies of scale. A company can safely take on more risk only if the relevant technology is very reliable.

business plan entreprise innovation

A final example to be studied here, although there are many more components to a business model that could be well served by innovation, is the emergence of industry disruptions. When airline Qantas were faced with the challenge created by low-cost carriers (LCC), it realised that making incremental changes in cost structure would be insufficient. It had to launch its own LCC with competitively superior economics. In 2004, Qantas introduced its LCC, Jetstar Airways, with an entirely new cost and operating model. Qantas recognised the importance of creating a new model that was not burdened by old ways of operating. Many companies may be tempted to adjust their existing cost models when faced with fierce competition. But when the model is challenged by a truly disruptive change, what is often required is an entirely new approach. Annual revenues now exceed $3bn and Jetstar earns higher margins than does its more premium-focussed patent airline.

Companies can use these frameworks to make their innovation processes more systematic and open, with business model reinvention becoming a continued, inclusive process rather than a series of isolated, internally focussed events. When they do, they find that the resulting capabilities offer a sustainable competitive advantage. Of course, failures can happen for all sorts of reasons and they often occur even when the idea is sound. This is especially true for BMI – when they new idea is not a product, service or technology but a different way of engaging with the customers and earning revenues from them. BMI is a powerful driver of value and a surer way to succeed than technology, product/service or process innovation. Large companies failure rate is unacceptably high because so far too many have not shown enough commitment and flexibility in the way they develop and roll them out.

So how does an organisation prepare itself for BMI failings and how can it combat this? There could be a problem of a lack of top management support and attention. As we have seen, BMI requires changes that affect multiple parts of an organisation. As such, when rolling out a BMI, it requires direct support from the top management. So before undertaking a BMI, there needs to assurance from top management that there will be both the necessary patience and resources provided. Tied in with this problem, an organisation could display a reluctance to experiment. It’s important to remember that BMI is just an idea. It relies on a lot of assumptions and judgements and, in the absence of a crystal ball, the best tool we have is experimentation. This is why top management need to display patience and provide resources to enable effective BMI.

Another potential downfall could be a failure to pivot on BMI. Even when the company experiments with a new business model, it often fails to interpret the result of the test correctly and adjust an implementation plan accordingly. What may seem like a failed experiment might carry the message that an adjustment in the planned rollout of business model innovation is needed. Furthermore, what could appear to be a successful test might not be really testing the most critical aspect of the business model.

When an organisation has had a series of failed innovations, the problem may not be with the innovations themselves. The real issue may be that the company has gone out on a limb and introduced the innovations without the operations elements required to support them. Changing the operating model – along with the value proposition – is an imperative because it creates the appropriate support system to enable breakthrough value creation. In many ways, the operating model is the foundation of the business and it needs to reinforce the new insight that is driving the entire BMI. The operating model can change in many ways, but shifts tend to involve building new capabilities, leveraging external partners and redefining interactions with customers.

To drive meaningful impact, BMI ideas must take root within the organisation, receive sufficient funding and be given the runway needed to achieve scale. BMI can take years to fully show results. It entails greater risks as well as longer-term payback than more incremental moves and there is often organisational resistance to change. Indeed, implementation challenges are often the largest obstacle many companies face when innovating their business models.

For those about to begin the BMI journey, there are four important questions that leaders should take to their organisation:

  • What is the growth ambition for the core business?
  • Are traditional approaches still sufficient and will they remain so?
  • What business model solutions from outside the industry could deliver superior return on investment?
  • How could these solutions be put to work in the organisation?

Bolder BMI solutions can be the key to driving growth in the core business and maintaining sustained outperformance. Along the way, leaders must watch their business cycle, their competitors, their customers and especially the potential pitfalls.

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How Fast Should Your Company Really Grow?

  • Gary P. Pisano

business plan entreprise innovation

Growth—in revenues and profits—is the yardstick by which the competitive fitness and health of organizations is measured. Consistent profitable growth is thus a near universal goal for leaders—and an elusive one.

To achieve that goal, companies need a growth strategy that encompasses three related sets of decisions: how fast to grow, where to seek new sources of demand, and how to develop the financial, human, and organizational capabilities needed to grow. This article offers a framework for examining the critical interdependencies of those decisions in the context of a company’s overall business strategy, its capabilities and culture, and external market dynamics.

Why leaders should take a strategic perspective

Idea in Brief

The problem.

Sustained profitable growth is a nearly universal corporate goal, but it is an elusive one. Empirical research suggests that when inflation is taken into account, most companies barely grow at all.

While external factors play a role, most companies’ growth problems are self-inflicted: Too many firms approach growth in a highly reactive, opportunistic manner.

The Solution

To grow profitably over the long term, companies need a strategy that addresses three key decisions: how fast to grow (rate of growth); where to seek new sources of demand (direction of growth); and how to amass the resources needed to grow (method of growth).

Perhaps no issue attracts more senior leadership attention than growth does. And for good reason. Growth—in revenues and profits—is the yardstick by which we tend to measure the competitive fitness and health of companies and determine the quality and compensation of its management. Analysts, investors, and boards pepper CEOs about growth prospects to get insight into stock prices. Employees are attracted to faster-growing companies because they offer better opportunities for advancement, higher pay, and greater job security. Suppliers prefer faster-growing customers because working with them improves their own growth prospects. Given the choice, most companies and their stakeholders would choose faster growth over slower growth.

Five elements can move you beyond episodic success.

  • Gary P. Pisano is the Harry E. Figgie Jr. Professor of Business Administration at Harvard Business School and the author of Creative Construction: The DNA of Sustained Innovation (PublicAffairs, 2019).

Partner Center

business plan entreprise innovation

Embracing AI Transformation: How customers and partners are driving pragmatic innovation to achieve business outcomes with the Microsoft Cloud

Jan 29, 2024 | Judson Althoff - Executive Vice President and Chief Commercial Officer

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This past year was one of technology’s most exciting with the emergence of generative AI, as leaders everywhere considered the possibilities it represented for their organizations. Many recognized its value and are eager to continue innovating, while others are inspired by what it has unlocked and are seeking ways to adopt it. At Microsoft, we are focused on developing responsible AI strategies grounded in pragmatic innovation and enabling AI Transformation for our customers. As I talk to customers and partners about the outcomes they are seeing — and rationalize those against Microsoft’s generative AI capabilities — we have identified four areas of opportunity for organizations to empower their AI Transformation: enriching employee experiences, reinventing customer engagement, reshaping business processes and bending the curve on innovation . With these as a foundation, it becomes easier to see how to bring pragmatic AI innovation to life, and I am proud of the impact we have made with customers and partners around the world. From developing customer-focused AI and cloud services for millions across Europe and Africa with Vodafone , to empowering customers and employees with generative AI capabilities with Walmart , I look forward to what we will help you achieve in the year ahead.

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Enriching employee experiences and shaping the future of work with copilot technology

Bayer employees are collaborating better on worldwide research projects and saving time on daily tasks with Copilot for Microsoft 365, while Finnish company Elisa is helping knowledge workers across finance, sales and customer service streamline routine tasks. Banreservas is driving employee productivity and enhancing decision-making, and Hong Kong’s largest transportation companies — Cathay and MTR — are streamlining workflows, improving communications, and reducing time-consuming administrative tasks. Across professional services, KPMG has seen a 50% jump in employee productivity, Dentsu is saving hundreds of employees up to 30 minutes per day on creative visualization processes, and EY is making it easier to generate reports and access insights in near real-time with Copilot for Microsoft 365. In Malaysia, financial services organization PNB is saving employees time searching through documents and emails and AmBank employees are enhancing the quality and impact of their work. At Hargreaves Lansdown , financial advisers are using Copilot for Microsoft 365 and Teams to drive productivity and make meetings more inclusive. Avanade is helping sellers save time updating contact records and summarizing email threads with Copilot for Dynamics 365, while HSO Group, Vixxo, and 9altitudes are streamlining work for field and service teams.

Employee and customer in store

Reinventing customer engagement with generative AI to deliver greater value and increased satisfaction

MECOMS is making it possible for utility customers to ask questions and get suggestions about how to reduce power consumption using Microsoft Fabric and copilot on their Power Pages portal. Schneider Electric has built a Resource Advisor copilot to equip customers with enhanced data analysis, visualization, decision support and performance optimization. California State University San Marcos is finding ways to better understand and personalize the student journey while driving engagement with parents and alumni using Dynamics 365 Customer Insights and Copilot for Dynamics 365. With Azure OpenAI Service, Adecco Group is bolstering its services and solutions to enable worker preparedness as generative AI reshapes the workforce, UiPath has already helped one of its insurance customers save over 90,000 hours through more efficient operations, and Providence has developed a solution for clinicians to respond to patient messages up to 35% faster. Organizations are building generative AI assistants to help employees save time, improve customer service and focus on more complex work, including Domino’s , LAQO and OCBC . Within a few weeks of introducing its copilot to personalize customer service, Atento has increased customer satisfaction by 30% while reducing operational errors by nearly 20%, and Turkey-based Setur is personalizing travel planning with a chatbot to customize responses in multiple languages for its 60,000 daily users. In the fashion industry, Coats Digital launched an AI assistant in six weeks to make customer onboarding easier. Greece-based ERGO Insurance partnered with EBO to provide 24/7 personalized assistance with its virtual agent, and H&R Block introduced AI Tax Assist to help individuals and small business owners file and manage their taxes confidently while saving costs.

Man and woman working in lab

Reshaping business processes to uncover efficiencies, improve developer creativity and spur AI innovation

Siemens built its own industrial copilot to simplify virtual collaboration of design engineers and front-line workers, accelerate simulation times and reduce tasks from weeks to minutes. With help from Neudesic , Hanover Research designed a custom AI-powered research tool to streamline workflows and identify insights up to 10 times faster. With Microsoft Fabric, organizations like the London Stock Exchange Group and Milliman are reshaping how teams create more value from data insights, while Zeiss is streamlining analytics workflows to help teams make more customer-centric decisions. Volvo Group has saved more than 10,000 manual hours by launching a custom solution built with Azure AI to simplify document processing. By integrating GitHub Copilot, Carlsber g has significantly enhanced productivity across its development team; and Hover , SPH Media , Doctolib and CloudZero have improved their workflows within an agile and secure environment. Mastery Logistics Systems and Novo Nordisk are using GitHub Copilot to automate repetitive coding tasks for developers, while Intertech is pairing it with Azure OpenAI Service to enhance coding accuracy and reduce daily emails by 50%. Swiss AI-driven company Unique AG is helping financial industry clients reduce administrative work, speed up existing processes and improve IT support; and PwC is simplifying its audit process and increasing transparency for clients with Azure OpenAI Service.  By leveraging Power Platform, including AI and Copilot features, Epiq has automated employee processes, saving over $500,000 in annual costs and 2,000 hours of work each month, PG&E is addressing up to 40% of help desk demands to save more than $1 million annually, and Nsure is building automations that reduce manual processing times by over 60% and costs by 50%. With security top of mind, WTW is using Microsoft Copilot for Security to accelerate its threat-hunting capabilities by making it possible for cyber teams to ask questions in natural language, while LTIMindtree is planning on using it to reduce training time and strengthen security analyst expertise.

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Bending the curve on innovation across industries with differentiated AI offerings

To make disaster response more efficient, nonprofit Team Rubicon is quickly identifying and engaging the right volunteers in the right locations with the help of Copilot for Dynamics 365. Netherlands-based TomTom is bringing the benefits of generative AI to the global automotive industry by developing an advanced AI-powered voice assistant to help drivers with tasks like navigation and temperature control. In Vietnam, VinBrain has developed one of the country’s first comprehensive AI-powered copilots to support medical professionals with enhanced screening and detection processes and encourage more meaningful doctor-patient interactions. Rockwell Automation is delivering industry-first capabilities with Azure OpenAI Service to accelerate time-to-market for customers building industrial automation systems. With a vision to democratize AI and reach millions of users, Perplexity.AI has brought its conversational answer engine to market in six months using Azure AI Studio. India’s biggest online fashion retailer, Myntra , is solving the open-ended search problem facing the industry by using generative AI to help shoppers figure out what they should wear based on occasion. In Japan, Aisin Corp has developed a generative AI app to empower people who are deaf or hard of hearing with tasks like navigation, communication and translation; and Canada-based startup Natural Reader is making education more accessible on-the-go for students with learning differences by improving AI voice quality with Azure AI. To solve one of the most complex engineering challenges — the design process for semiconductors — Synopsys is bringing in the power of generative AI to help engineering teams accelerate time-to-market.

As organizations continue to embrace AI Transformation, it is critical they develop clarity on how best to apply AI to meet their most pressing business needs. Microsoft is committed to helping our customers and partners accelerate pragmatic AI innovation and I am excited by the opportunities before us to enrich employee experiences, reinvent customer engagement, reshape business processes and bend the curve on innovation. As a technology partner of choice — from our differentiated copilot capabilities to our unparalleled partner ecosystem and unique co-innovation efforts with customers — we remain in service to your successful outcomes. We are also dedicated to preserving the trust we have built through our partnership approach, responsible AI solutions and commitments to protecting your data, privacy and IP. We believe this era of AI innovation allows us to live truer to our mission than ever before, and I look forward to continuing on this journey with you to help you achieve more.

Tags: AI , Azure , Azure AI , Azure OpenAI Service , Copilot for Dynamics 365 , Copilot for Microsoft 365 , Innovation , Microsoft AI , Microsoft Cloud , Microsoft Copilot for Security , Microsoft Partners , Microsoft Power Platform

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business plan entreprise innovation

Entrepreneuriat social : faire son business plan

«  Ce MOOC est très bien. C’est complet avec pleins d’exemples concrets. J’ai pu avancer sur mon business plan docial en parallèle, je l’ai vécu comme un vrai accompagnement. Merci à toute l’équipe !  »

Si vous envisagez de créer une entreprise sociale ou de lancer un nouveau projet à impact social ou environnemental dans votre entreprise actuelle, en France ou à l’étranger, ce MOOC est pour vous !

Découvrez l’outil du Business Plan Social formalisé par l’ESSEC en partenariat avec Ashoka et McKinsey. Venez rencontrer nos témoins qui vous partagent de précieux conseils pour construire votre social business model et vous approprier les clés du financement d’un projet social et de la mesure d’impact social.

Pourquoi faire un Business plan social?

Comme toute entreprise, en phase de création ou de développement, l’ entreprise sociale , celle qui veut changer le monde, a besoin d’un business plan. Un Business Plan Social est avant tout une démonstration pour convaincre des   financeurs   d’investir, des salariés et bénévoles de vous rejoindre, des partenaires de s’associer à vous ! Au-delà de toute la richesse du questionnement que cet outil offre, le produit final obtenu compte beaucoup car il est le support permettant de transmettre votre ambition, tout en reflétant votre professionnalisme et votre pragmatisme.

L’entrepreneur formalise un business plan pour :

  • identifier avec précision les différentes solutions qui lui sont offertes dans chaque domaine de la gestion de son entreprise,
  • faire les meilleurs choix possibles (proposition de valeur, solutions techniques, marketing, montage juridique, organisation) et établir une stratégie claire et cohérente,
  • définir un modèle économique pérenne,
  • anticiper les difficultés à surmonter.

Seulement, l’entrepreneur social doit aller plus loin. Assurer la viabilité de sa structure ne représente qu’un moyen au service d’un objectif plus complexe à atteindre et évaluer : satisfaire un besoin social que ni les services publics ni la logique de marché n’ont réussi à combler. Il doit donc s’appuyer sur un outil spécifique lui permettant d’exposer clairement le changement social auquel il veut contribuer tout en définissant les moyens à mettre en œuvre et les ressources à mobiliser pour mener à bien sa mission et en mesurer les effets. L’entrepreneur sera amené à prouver la pertinence sociale du projet en menant une étude approfondie du besoin et à réfléchir à l’intérêt de son offre par rapport à l’existant et au marché.

C’est ce que propose la méthodologie du Business Plan Social, formalisée avec l’équipe de la   Chaire Entrepreneuriat Social de l’ESSEC   en partenariat avec   Ashoka   et le cabinet de conseil McKinsey.

Quand rédiger un business plan social (BPS) ?

On peut rédiger un BPS à différents stades d’un projet :

  • au moment de la création d’une entreprise   : le BPS sert alors à déterminer la stratégie d’ensemble et les moyens mis en œuvre. Il permet de convaincre et de fédérer des acteurs autour du projet en amont de sa réalisation concrète.
  • pour le lancement d’une nouvelle activité   : comme toute entreprise, l’entreprise sociale doit s’adapter à son environnement et à son bénéficiaire. Elle peut donc être amenée à créer une nouvelle activité ou bien réorganiser son activité existante afin de répondre à des besoins nouveaux ou différents. Afin d’opérer ce changement dans les meilleures conditions, il peut être très utile de réaliser un BPS pour cadrer les ambitions et les moyens possible d’y parvenir.
  • pour lancer une activité génératrice de revenus pour une association/ONG; pour débuter une activité à impact social positif pour   une entreprise du secteur privé lucratif /une organisation  principalement financée par des dons ou des subventions publiques (bénéficiaires non solvables) :   initier de telles activités exige une planification similaire à celle requise pour le lancement d’une activité commerciale classique. Les bénéfices retirés de l’activité seront intégralement affectés au financement de sa mission sociale. Pour une activité à impact social dans une entreprise commerciale, il s’agit de prouver la viabilité économique et la réalité de l’impact social recherché.
  • pour   lever des fonds   : le BPS est le sésame pour convaincre les investisseurs, les mécènes et donateurs privés, mais aussi les pouvoirs publics ou les ONG de financer et soutenir votre projet.
  • repenser et optimiser son organisation son plan de développement   : pour les organisations même si elles ne sont pas dans une phase de levée de fonds ou de lancement d’activités génératrices de revenus ou à impact social, le Business Plan Social, fondé sur le recueil de données objectives sur son marché et sur un raisonnement analytique rigoureux, constitue un support pour ré interroger son modèle d’intervention, sa stratégie de développement et les moyens humains, techniques et financiers nécessaires à sa mise en œuvre.

Quels sont les éléments du business plan social ?

  • La charte de l’entreprise
  • L’analyse d’opportunité

Pour ceux qui ont suivi le premier   MOOC L’entrepreneuriat social de l’envie au projet , vous avez déjà pu réfléchir à la charte de votre projet et à l’analyse du besoin.

  • L’étude de marché
  • Le Social business model (business plan social)
  • La stratégie marketing
  • La gouvernance
  • Les prévisions financières
  • La mesure de l’impact

Au programme du MOOC

Episode 1 : découvrir le business plan social.

Pourquoi, quand et comment faire un business plan ? Quel est le besoin social  à traiter et quelle évolution de la société impulser ?  Quelle mission choisir pour y arriver ?

Episode 2 : Construire son business plan social

Pourquoi, quand et comment faire une analyse d’opportunité et une étude de marché ? Qui sont les potentiels clients ? Qui sont les bénéficiaires ? Quel est le parcours utilisateur pour le client/le bénéficiaire ? Comment concrètement contribuer à répondre au besoin social identifié ? A travers quelles actions ? Quel sera le modèle économique ?

Episode 3 : Financer son projet

Quel statut juridique adopter ? Quelles instances de gouvernance pour le projet ? Comment organiser les processus de décision dans la structure ? Comment lever les fonds nécessaires au projet : quelle nature de fonds ? Quels financeurs solliciter ?

Episode 4 : Mesurer son impact social

Quels sont les changements que le projet souhaite provoquer ? A quelles conditions ? Quelles sont les parties prenantes ? Quels seront les principaux impacts du projet sur chacune d’entre elles ? Quels indicateurs utiliser pour évaluer ces impacts ?

Quelles sont les voies permettant de lancer le projet ? Quel est le rôle d’un incubateur ? Le business plan est-il un outil indispensable ? Qu’est-ce qu’un intrapreneur ? Que recouvre la notion de « chaîne de valeur hybride » ?

business plan entreprise innovation

L'entrepreneuriat social : de l'envie au projet

4 ans après sa première édition, le MOOC fait peau neuve et revient avec une vingtaine de nouveaux témoignages inspirants !

business plan entreprise innovation

L'entrepreneuriat social : faire son business plan

Découvrez l’outil du Business Plan Social formalisé par l’ESSEC en partenariat avec Ashoka et McKinsey.

changer d'échelle

L'entrepreneuriat social : changer d'échelle

Si vous cherchez à développer l’activité de votre organisation pour changer d’échelle et maximiser son impact social ce MOOC est pour vous !

Logo MOOC Impact Investing

L'impact investing : comprendre les fondamentaux

Série de 3 MOOCs sur le thème de l’impact investing pour former les entrepreneurs sociaux et financeurs “à impact”.

business plan entreprise innovation

L'impact investing : être acteur

Préparez votre levée de fonds à impact grâce à ce deuxième MOOC indispensable pour les financeurs, entrepreneurs sociaux ou incubateurs !

L'impact investing : innover

Ce dernier MOOC sur le thème de l’impact investing s’intéresse au développement et au perfectionnement des outils de financement.

business plan entreprise innovation

Les partenariats qui changent le monde

Créé en partenariat avec Le RAMEAU pour appréhender la dynamique des partenariats entre entreprises et associations.

business plan entreprise innovation

Les alliances qui changent les territoires

Instaurez une alliance territoriale pour répondre à des besoins sociaux et environnementaux et démultiplier votre impact.

business plan entreprise innovation

Nouveaux modèles économiques des associations

Hybridez le modèle économique de votre association pour rendre votre action pérenne et maximiser votre impact;

business plan entreprise innovation

Innovation publique et pensée design

Obtenez les compétences pour coordonner un projet d’innovation s’appuyant sur une approche design de service.

business plan entreprise innovation

Evaluation et mesure d'impact social

Découvrez pourquoi et comment utiliser les outils de mesure d'impact, et comment en interpréter les résultats.

business plan entreprise innovation

Reporting extra-financier et stratégie RSE

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Developing a Business Plan for Innovator International

Find out more about developing your plan for our Innovator International or StartUp+ programmes and our assessment criteria.

business plan entreprise innovation

Do you need guidance in developing your plan for our Innovator International or StartUp+ programmes?

Asking someone whether they have a business plan can, potentially, be one of the most misleading questions. The reason for this is that there are so many types of business plan. The contents of a plan for your own personal use will inevitably differ from that expected by a bank manager, investor, potential business partner or entry onto a specific programme.

We receive between 50 and 75 applications every month for our programme, with business plans ranging from 5 – 100 pages. The quality varies greatly, but most interestingly very few ever have two key components – a basic project plan and a risk register. These aspects are paramount in letting the reader know (a) you’ve got a plan to make things work, and (b) you know what you’re going to do if things veer off track.

Bearing that point in mind, this guide is written to help you develop a business plan specifically for entry on to the Innovator International programme, which can subsequently lead to you receiving your Endorsement for your Home Office Start Up of Innovator Visa application.

Our Assessment Process

When we’re assessing the suitability of projects for our programmes, we consider ten key areas. We grade each of these areas from 1-10 on our ‘business maturity matrix’ which lets us know how advanced the business is in each area.

No alt text provided for this image

The marks are based on objective statements to ensure consistency across all projects. Within this guide we provide hints and tips on the level of information expected to meet the Start Up and Innovator criteria for our programme and subsequent endorsements.

This is NOT a guide detailing how any individual or business can develop a plan which will result in an endorsement. As any business plan (and particularly those developed using this methodology) has to be based on factual statements and supported by evidence, it is intended as a way to present the state of your business and your ambition in a clear and concise manner. This subsequently maximises your chances of being successful in your application for a position on an Innovator International programme

Setting the Scene

Think of your business plan as you, at an interview. How do you look? How do you talk? How long do you have? Do you provide underwhelming “yes and no” answers or an unnecessary excess of information? Do you think about what you’ve been asked and try to answer all aspects of every question?

Bearing this in mind, let’s start with the following basics:

  • Your business plan should be the right length – 15-30 pages is a convenient length to get your story across for our purposes, depending upon your style of writing. What’s most important is the quality of the content, not the length . It’s OK to send a little more if you need to provide additional information, but you might want to consider placing it in an appendix or additional reference document.
  • It should be smart and easy to read, like a good book . Open with a punchy executive summary, and take the reader through a journey. Anyone reading your plan wants to be as excited about your idea as you are.
  • Add pictures – but only where they’re necessary. A picture can help your reader visualise what it is you’re trying to achieve and also makes the document more readable
  • Pick a decent font in a good size. Don’t write everything in bold , but do use it on your key points you want to be noticed.
  • Provide the information that the reader wants, but don’t go overboard by using too many words. Every section should be short, impactful and let the reader fully understand the situation without tiring them. Keep their attention!
  • Think about your attention to relevant detail . We don’t need to know if you’re spending £500 on a printer, but if you’re developing a product or piece of software, we do want some insight on the development process, timeframe and costs. Tell us what matters!
  • Pay attention to your timeframe and make sure it’s realistic . You’re highly unlikely to achieve your optimum sales targets in Month 1. Especially if you have to develop something which takes 4 months.

The Document Contents

Now you’re ready to go, here are the ten sections we assess. Under each title you will see the key question we ask ourselves:

1: Market Assessment

“Does the plan address the market maturity, wider sector position, scale, geographical nuances, and competitors?”

Within this section we’re looking to see that the applicant has a good understanding of the market opportunity, the prospective clients and the competition. There should be a clear opportunity for the given market. In addition, while it is good to provide an overview of the global, national or regional market statistics, it’s better to provide detail about your precise client base and demonstrate how you have engaged with them to develop your specific opportunity .

2: Marketing Strategy

“Is there a clear and achievable route to market without major risk points?”

While the previous question addressed how well you know your market, this section asks how you will engage them. Having a website and social media campaign may be essential but they’re often ‘necessary evils’ – i.e. they don’t add great value to what you do, but you can’t not have one. The challenge with websites and social media is that no-one looks at yours unless they’re highlighted to what you do.

This is where the Zero Moment of Truth (ZMOT) becomes highly relevant – that is, the moment that a potential customer makes a decision to emotionally invest time in finding out more about you. To achieve this they will have typically heard about you, read about you or seen you in several places – so how, and where, are you going to let people know about what you do?

3: Sales Strategy

“Does the plan include the capability to identify, develop and achieve the sales required to meet the financial needs of the business?”

You’ve told us how you’re going to make people aware of what you do – now you need to let us know that you have the sales process knowledge and skills to seal the deal. Sales aren’t something that you start once you’ve developed your offering; one of the wisest pieces of advice I’ve ever received is that “it’s better to sell something you haven’t yet made, than to make something you can’t sell” .

One of the biggest challenges we encounter with businesses is when they are highly skilled in the areas where they are delivering a product (or service) to their clients, but they lack the basic sales skills to achieve their ambition or worth. To look at the previous quote in a different way, making it is the easy bit – the challenge comes in turning the idea into an invoice.

4: Skills Strategy

“Does the business have the skills needed to complete their given tasks? Consider the full set of vocational (50%) and commercial skills (50%) required to make the business a success.”

We consider two key areas here and assign 50% of the total maturity mark to each. The first 50% is allocated against the applicants skills to understand and deliver the product or services within the business. If someone is starting a business in HR for the engineering sector, you’d expect them to have a good level of understanding of HR processes and/or engineering businesses. 

The second 50% addresses whether the person or team have the skill set to run the business. Do they have business management skills, a sales capacity, and any other core skills required to make the business a success? This is key in determining the viability of the business – i.e. does the applicant have the skill set to make the business work?

5: Resource Planning 

“Does the business have access to all of the knowledge, equipment and supply chain contacts they require in order to complete their functions?”

Now we’re building a picture of what skills you have, we move on to resources. This section asks what you have other than your people to help make the business a success. Resources typically include:

  • the knowledge you need to do the job (remember this may come from other people)
  • the equipment you need to complete and deliver a job (this may be software you’re designing)
  • the contacts that you have (who may provide knowledge or perform tasks for you such as manufacturing, delivery, etc) and,

We need to know what you need and what you currently have, or are negotiating. Where there is a shortfall, what is your plan to address it?

6: Project Plan

“Is there a project management plan which details how the key objectives are going to be achieved and in what timeframe?”

This is key to helping us understand how you are going to achieve your goals. We’re not expecting a full project plan, but we would like some key information such as key targets and milestones, the main steps you need to achieve your targets, and the time it’s going to take.

The best way to present much of this information would be in a Gantt Chart , such as the one shown below:

No alt text provided for this image

Within such a chart (which is easy to develop on any spreadsheet package), you’re able to identify your key tasks and plan how long each will take. This allows us to determine other information, such as when you will be in a position to raise revenue.

7: Scalability Strategy

“Does the plan include details regarding the significant scaling of the business?”

The term ‘scaling’ usually refers to how your business can increase revenue at a significantly higher rate than its expenditure. It could also be summarised as increasing growth while improving productivity.

However, in the context of the Start Up and Innovator Visa programmes, the term relies more to growth alone, asking how the company will achieve national and maybe international relevance.  There are many ways to achieve this, from expansion to franchising. We want to know a little about your growth and scalability plans.

8: Innovation Strategy

“Does the plan clearly demonstrate a current level of, and ambition to continue, a high level of innovation which is an integral part of the business proposition?”

Innovation is a key talking point for Start Up and Innovate Visa applications. As an Innovation Agency, we understand that the definition of innovation can differ depending upon its context. Bearing that in mind, for the purpose of our programme (and for the endorsement of Start Up and Innovator Visas) we define innovation as “the provision of a benefit that is not currently and readily available in the UK”. That benefit could be delivered to any party, including customers, staff and wider stakeholders. It could even be a better way of making or doing something that already exists.

What we’re looking for here is that the innovation is an integral part of the business, and not “added on a the end to make the plan appear innovative”. Innovation should be a factor that has driven the creation of the business, and will continue to be apparent through it’s development and growth.

9: Financial Planning

“Does the plan demonstrate the need to meet all of the financial requirements of the business including contingency in the event of sales slippages, and how realistic are the key assumptions?”

Every business plan requires a robust set of financial figures based on solid assumptions. I don’t think I’ve ever seen a business plan where the forecasts were met, mainly due to the fact that entrepreneurs naturally over-assume how fast sales will arrive. One way to account for this is to include a “sensitivity analysis” – a delay or percentage reduction which takes into account the things which inevitably go wrong, which aren’t seen in advance.

A financial plan should always summarise the key assumptions, as the person reading the plan does not want to have to make assumptions as to why figures peak or trough. A good way to help the reader is, prior to showing the cashflow, list your key assumptions – for example cost per unit and rate of sales.

10: Risk Management 

“Does the plan assess the key risks and provide a robust management strategy to minimise probability and / or impact?”

The final step – and another which is missing from most business plans – is a basic risk assessment and management plan. We’re not talking about risk in terms of compliance and workplace safety here – we want to know what might go wrong, and what you’re doing (or going to do) to assess it.

Assessing risk is simple, using the following steps:

  • List down everything which might go wrong, from you becoming ill through to people not wanting what you’re offering.
  • On a scale of 1-5 (where 1 is very low, 5 is very high) what is the probability of the risk happening?
  • On the same scale, what would the impact be if it did happen?
  • Multiply your probability score by your impact score to get an overall risk score between 1 and 25.
  • If the score is 10-19, the risk is high. If the score is 20-25, the risk is very high. For each of the risks in these areas, state whether you’re going to take action to prevent the risk from happening or whether you plan to act if it does happen.

While this is one of many ways to compile a business plan, this method allows us to assess all of the information we require for entry on to our programmes and subsequent endorsement. Please don’t feel that you have to use these headings – you don’t – but you do need to address all of the key points.

Finally, please remember that this is the information we need to see, and won’t meet the needs of everyone. If you follow these guidelines you’ll have a good strong plan, but if you are writing a business plan for another purpose, just ask the prospective reader what they want you to focus on!

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  • Entreprendre : de l'idéation au business plan

Entreprendre : de l'idéation au business plan

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De la naissance d’une idée au dépôt de la première pierre, le chemin de la création ou reprise d’entreprise est semé d’embûches.

Tout entrepreneur a besoin de connaître les grandes étapes à ne pas manquer dans tout projet de reprise ou de création.

Il s’agit de maîtriser la notion d’idéation qui permettra de passer de l’idée au projet, de savoir étudier son marché et se repérer dans les différentes options stratégiques, de construire une proposition de valeur et un business model, d’appréhender les techniques d’élaboration du business plan, d’utiliser les techniques de marketing entrepreneurial pour élaborer une stratégie marketing et commerciale efficiente.

Ce module vise à doter les participants d’outils pour appréhender plus sereinement un projet de reprise ou de création.

Tarif  : 4 500 € HT soit 5 400 € TTC

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Associate Teaching Professor, Accounting and Management Control Department.

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  • Les outils de communication.
  • L’art du pitch.
  • Définir son plan de Financement.
  • Comprendre ses états financiers prévisionnels pour réussir à les optimiser.
  • Présenter son projet.

La formation alternera l’exposé de méthodes et de mises en situation pratique dans le cadre d’un projet fil rouge qui sera élaboré en équipe tout au long du programme, depuis l’idée initiale jusqu’au pitch final.

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City Planning’s Greatest Innovation Makes a Comeback

Long live the street grid.

An illustration featuring a street-grid design and an aerial view of a city street

Listen to this article

Produced by ElevenLabs and NOA, News Over Audio, using AI narration.

Growing up in Lexington, Kentucky, my best friend and I lived only a quarter mile apart as the crow flies. We had nearly identical houses, both clad in a blend of brick and vinyl that allowed our newly minted middle-class parents to signal status without breaking the bank. Getting to each other’s homes should have been simple.

The trouble was, we lived on opposite ends of two cul-de-sac neighborhoods, each fronting a busy corridor that had once been a farm road. A strictly legal trip from his house to mine involved a 25-minute, mile-long trek along aimless streets, largely without a sidewalk. So we cheated, cutting through backyards to the howls of homeowners. This was the early 2000s; privacy fences have since been installed that probably would have ended our friendship.

Ours was a problem that city planning was supposed to prevent: Cities were meant to grow along a coordinated pattern of easily navigable streets and public spaces. Until the 20th century, they did. The street grid—an innovation as useful today as in antiquity—reigned. But about a century ago, when the modern era of American city planning began, the grid fell out of favor. Arterial roads and winding cul-de-sacs, far friendlier to cars than to pedestrians, were ascendant.

In one sense, my friend and I lived in the most planned environment in history. Every building around us was subject to a set of rigid regulations. If our neighbor turned her garage into an apartment or adjusted the pitch of her roof, zoning enforcers would be out in 24 hours. But when it came to the public realm—the space between buildings that ties a city together—there was no plan, except to move cars through a landscape of lawns.

M. Nolan Gray: Cancel zoning

We were the victims of an American approach to city planning that had lost its way. But the next generation of kids may not be so unlucky. After a long demise, the grid is showing signs of a comeback.

Humans have been doing something like city planning for millennia, though it hasn’t always been called that.

In the West, our city-planning tradition traces its roots to Hippodamus of Miletus, who laid out the ancient-Greek port of Piraeus in a rectangular grid expanding outward from an agora. The Romans replicated this model in colonies across the Mediterranean, adding sewers and stormwater infrastructure. They so loved their sewers, in fact, that they designated a goddess to preside over them.

The grid carried over to the New World. The Spanish empire instructed colonists to plan cities around a town square with a church and a royal council, violently imposed on top of existing Mesoamerican cities. From these twin centers of Spanish power, grids shot outward.

The American colonial period marked a renaissance in city planning, as settlers inspired by Enlightenment ideas platted hundreds of street grids on dispossessed land, each testing new designs. In 1682, the surveyor Thomas Holme laid out a rectangular grid connecting the Schuylkill and Delaware Rivers, with four parks of equal size orbiting a central plaza—the basis for Philadelphia. In 1811, surveyors divided a largely uninhabited Manhattan into 155 streets and a dozen grand avenues, laying the groundwork for New York City.

On occasion, American city planners even infused grids with spiritual significance. Joseph Smith’s “plat of Zion”—a grid design that eventually served as the basis for Salt Lake City—was said to be divinely inspired.

Divinity aside, there was good reason to love grids. As Alain Bertaud—a former city planner for the World Bank— points out , planning a grid in advance of growth allows surveyors to demarcate the public and private realms, reserving space for necessary infrastructure and ensuring that future expansion follows a coherent pattern. That might sound restrictive, but the result is a blank canvas that empowers cities to grow and adapt.

In the 19th century, the landscape architect Frederick Law Olmsted spiced up America’s grids with citywide parks systems in places such as Louisville, Kentucky, and Buffalo, New York. A young City Beautiful movement carved grand boulevards and civic plazas out of capitals such as Denver and Washington, D.C. Transit companies blanketed metropolises such as Los Angeles and Chicago with networks of streetcars and commuter trains. Without ever using the phrase city planning , Americans had, by the dawn of the 20th century, perfected a formula for planning cities.

And then we invented city planning.

Beginning in the 1910s, the first local city-planning departments were established, not so much to plot out the physical growth of cities but to implement a novel policy: zoning. Zoning shifted the focus of city planning from stewarding the public realm to managing private development. The forebears of professional planners were unconcerned with land uses and densities, allowing mixed-use neighborhoods to emerge. But zoning remade cities into a fragmented landscape of malls, office parks, and residential subdivisions.

From the July/August 2023 issue: How parking ruined everything

Developers lost the power to decide what to build on any given lot. But they gained unprecedented powers to shape the public realm; as long as the streets were sufficiently wide and the corners sufficiently rounded, they could plot out new streets untethered from any broader plan. With federal backing , new neighborhoods became a collection of winding streets and cul-de-sacs, connected to the broader city by only one entrance. That these neighborhoods discouraged walking was seen by contemporary planners as a feature, not a bug.

This novel approach to planning was premised on a particular vision of the ideal city that still holds sway today. Taken on its own terms, the appeal is easy to see: The archetypal American would live on a quiet street in a single-family house surrounded by a lawn. He would work in a central business district or perhaps a new industrial park on the edge of town, and spend his earnings in a dedicated shopping district. Traveling from home to work to errands would be fast, solitary, and—most important—in a car.

One hundred years later, this grand experiment has resulted in cities that are unaffordable, stagnant, segregated, and sprawling. Walk into any planning office today, and you’ll be hard-pressed to find the street and park plans of yore. Instead, you will find reams of zoning rules listing permitted and prohibited uses, maximum building heights, minimum yard depths, required lot dimensions, limits on unit numbers, and required parking.

Unlike their predecessors who spent their time sketching grids, modern American city planners now dedicate themselves to either enforcing the fading dream of zoning or working around it. Indeed, the principal function of the planning office in most major cities is to help developers navigate incoherent rules adopted decades ago, in pursuit of an urban-design vision that few still believe in—reviewing stacks of paperwork and organizing endless hearings just to get something built.

I know, because it used to be my job. After a childhood of navigating the sprawl, I decided to go to planning school and do something about it. I knew that working as a planner in New York wasn’t going to be a game of SimCity . But after a few years of managing rezoning applications—generating mountains of paperwork, mostly to legalize existing buildings and businesses—I wasn’t sure whether I had done even a day of planning. Like so many idealistic young city planners before me, I walked away.

Nearly a decade ago, the Cornell historian Thomas J. Campanella described the malaise haunting American city planning. A century after it had become a profession, what did we have to show for ourselves? Streets careen toward dead ends, home prices keep spiraling, public spaces metastasize into monster regional parks, and schools sequester themselves on prisonlike campuses—all inaccessible to anyone without a car.

The quest to govern cities as idealized suburbs has had another unintended consequence: Nearly all U.S. housing growth has been driven to the unplanned periphery, where Americans are especially vulnerable to worsening environmental risks. In California, restrictive rules in big blue cities have forced hundreds of thousands of families into the path of wildfires. In red states such as Florida and Texas, development in floodplains—nudged along by generous federal subsidies—continues largely unabated.

The ironic result: Many American cities are both overplanned and under-planned.

The breakdown of the American street grid was quantified in a 2020 study by Geoff Boeing, a University of Southern California planning professor. Boeing used geospatial methods to show how robust street grids—compact, dense, interconnected—devolved into a mess of cul-de-sacs over the course of the 20th century, a transformation that hooked Americans on cars and increased greenhouse-gas emissions.

Read: Cities aren’t built for kids

But he also found reason for hope: From a nadir in the 1990s, grids seem to be making a slow recovery. Thanks in part to advocacy by groups such as the new urbanists , a rising generation of planners is ushering in a partial return to traditional neighborhood design and commonsense city planning.

Across Texas, this alternative vision has started to take root. In 2018, the rapidly growing Austin suburb of Bastrop adopted a city plan that dispensed with rigid zoning and established a street grid that will accommodate future development, carefully directing it away from flood-prone areas. One year earlier, and more than 200 miles south, Laredo adopted a similar plan , calling for growth to follow a pattern of grids and plazas.

Let’s hope they stick to their plans. If we revive the street grid and start to undo decades of arbitrary zoning rules, American city planning might finally get back on track. If nothing else, the next generation of suburban teens might find a new friend.

More From Forbes

The future of hvac.

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Karl Pomeroy, CEO, Motili.

The HVAC industry is moving toward greater efficiency, new business models and more sophisticated automation. As we head further into 2024, I want to take this opportunity to look forward to the future of HVAC.

Environmentally Friendly Refrigerant

The future of HVAC includes a progressive trend toward coolant alternatives that are less harmful to the environment. The EPA phase-down of global-warming-potential high hydrofluorocarbon (HFC) coolants is in full swing. The EPA's goal is to reduce HFC production and consumption by 85% by 2036 . Beyond using lower-HFC coolants, there is a movement toward alternatives like hydrofluoroolefins (HFOs), and natural refrigerants like CO2 and ammonia are experiencing a renaissance.

According to the U.S. Energy Information Administration , air conditioning accounts for 10% of total U.S. energy use, and that demand “has generally increased since 1950.” This level of energy consumption and HFC emissions have put the HVAC industry at the forefront of change.

Regulation For Property Owners

Success in the HVAC arena will mean keeping up with rapidly evolving coolant requirements and regional regulations for efficient system configurations. This is especially relevant for high-concentration consumers like multifamily properties. Multifamily properties will have to stay nimble amid evolving regulations governing HVAC equipment, maintenance, emission controls and more to ensure properties positively contribute to environmental preservation.

As The Ukrainians Fling 50,000 Drones A Month, The Russians Can’t Get Their Drone-Jammers To Work

Google reveals much needed google photos upgrade but there s a catch, taylor swift fans reportedly forced travis kelce to move out of his brand new house.

Property owners must keep up with the constantly changing energy efficiency standards and regulations established by local and federal authorities. Adapting to the changes requires installing energy-efficient HVAC equipment, adopting smart building technologies and optimizing the insulation of buildings. Property owners must also consistently monitor and report emissions levels to stay within the increasingly strict limits. Depending on the area, owners may also need to consider including renewable energy sources, like solar power, in their HVAC systems to comply with renewable energy targets.

Moreover, the demand for retrofitting energy-efficient heating and cooling systems in older multifamily properties will increase, and property owners must invest in modernizing their existing HVAC infrastructure. It will be crucial for property owners to work closely with HVAC specialists and contractors to find a balance between occupant comfort, system performance and compliance with increasing regulations. With the rapid changes in the HVAC industry, property owners should stay informed about regulatory updates, explore innovative HVAC solutions and collaborate with industry experts to ensure their properties stay comfortable while remaining environmentally conscious and operationally efficient.

Nontraditional Business Models

Technology in all corners of the HVAC industry is developing rapidly, meaning sweeping changes will happen over a relatively short period to everything from equipment and coolant to maintenance protocols. Business models will need to mirror this shift.

The way customers can be served has already started to look different. Business models will transform dramatically in some cases to support those new services. Flexibility and innovation will be paramount to thriving on the future HVAC frontier.

This means trading traditional, one-off sales models for recurring revenue with subscription-based services. Contractors should embrace connections to Internet of Things (IoT) platforms for proactive repair and maintenance scheduling with less downtime and more effective service calls. Subscriptions can range from proactive maintenance and repair packages to data-analysis dashboards to high-end equipment rental.

Automation And IoT

Advancements in automation and remote monitoring can lead to highly efficient booking systems, with faster response times and service delivery. Smart thermostats and motion-activated systems will become more prevalent, allowing for optimized control based on occupancy and usage patterns. These technologies will enhance convenience and contribute to energy savings by reducing unnecessary cooling.

Automation integration into HVAC systems will only continue to increase as user friendliness and proven cost and energy savings push tech-averse consumers to a tipping point.

Data Analysis

IoT is more than a convenience; it's a powerful tool that can aggregate comprehensive HVAC usage data for valuable insights. For instance, when planning replacement systems, building managers can plug historical usage data into innovative software to select the most cost-effective HVAC configurations for their properties. Troubleshooting and alerts help proactively schedule repairs and replacements. Savings and compliance with regulations will far outweigh initial installation costs.

The future of HVAC will revolve around sustainability, customer-centric services and the integration of smart technologies. The industry's commitment to environmental preservation, combined with innovative business models and automation, will lead to a more efficient, eco-friendly air conditioning experience for users.

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Le business plan de l’entreprise innovante trouve sa justification dans l’importance donnée aux étapes de maturation de l’innovation, nécessairement longues et coûteuses, et dans la conviction que les difficultés sont le passage obligé de toute innovation, une condition dont l’entrepreneur doit savoir tirer les leçons qui donnent accès à la réussite.

Le business plan jalonne le progrès de l’entreprise

Les étapes de maturation de l’innovation, c’est-à-dire les étapes de formulation et de validation de la faisabilité de l’innovation, pour être réussies, doivent être envisagées dans le calme, sans précipitation. Ces étapes demandent du temps et des moyens. Le business plan doit refléter ...

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Driving change: a case study of a dnp leader in residence program in a gerontological center of excellence.

View as pdf A later version of this article appeared in Nurse Leader , Volume 21, Issue 6 , December 2023 . 

The American Association of Colleges of Nursing (AACN) published the Essentials of Doctoral Education for Advanced Practice Nursing in 2004 identifying the essential curriculum needed for preparing advanced practice nurse leaders to effectively assess organizations, identify systemic issues, and facilitate organizational changes. 1 In 2021, AACN updated the curriculum by issuing The Essentials: Core Competencies for Professional Nursing Education to guide the development of competency-based education for nursing students. 1 In addition to AACN’s competency-based approach to curriculum, in 2015 the American Organization of Nurse Leaders (AONL) released Nurse Leader Core Competencies (updated in 2023) to help provide a competency based model to follow in developing nurse leaders. 2

Despite AACN and AONL competency-based curriculum and model, it is still common for nurse leaders to be promoted to management positions based solely on their work experience or exceptional clinical skills, rather than demonstration of management and leadership competencies. 3 The importance of identifying, training, and assessing executive leaders through formal leadership development programs, within supportive organizational cultures has been discussed by national leaders. As well as the need for nurturing emerging leaders through fostering interprofessional collaboration, mentorship, and continuous development of leadership skills has been identified. 4 As Doctor of Nursing Practice (DNP) nurse leaders assume executive roles within healthcare organizations, they play a vital role within complex systems. Demonstration of leadership competence and participation in formal leadership development programs has become imperative for their success. However, models of competency-based executive leadership development programs can be hard to find, particularly programs outside of health care systems.

The implementation of a DNP Leader in Residence program, such as the one designed for The Barbara and Richard Csomay Center for Gerontological Excellence, addresses many of the challenges facing new DNP leaders and ensures mastery of executive leadership competencies and readiness to practice through exposure to varied experiences and close mentoring. The Csomay Center , based at The University of Iowa, was established in 2000 as one of the five original Hartford Centers of Geriatric Nursing Excellence in the country. Later funding by the Csomay family established an endowment that supports the Center's ongoing work. The current Csomay Center strategic plan and mission aims to develop future healthcare leaders while promoting optimal aging and quality of life for older adults. The Csomay Center Director created the innovative DNP Leader in Residence program to foster the growth of future nurse leaders in non-healthcare systems. The purpose of this paper is to present a case study of the development and implementation of the Leader in Residence program, followed by suggested evaluation strategies, and discussion of future innovation of leadership opportunities in non-traditional health care settings.

Development of the DNP Leader in Residence Program

The Plan-Do-Study-Act (PDSA) cycle has garnered substantial recognition as a valuable tool for fostering development and driving improvement initiatives. 5 The PDSA cycle can function as an independent methodology and as an integral component of broader quality enhancement approaches with notable efficacy in its ability to facilitate the rapid creation, testing, and evaluation of transformative interventions within healthcare. 6 Consequently, the PDSA cycle model was deemed fitting to guide the development and implementation of the DNP Leader in Residence Program at the Csomay Center.

PDSA Cycle: Plan

Existing resources. The DNP Health Systems: Administration/Executive Leadership Program offered by the University of Iowa is comprised of comprehensive nursing administration and leadership curriculum, led by distinguished faculty composed of national leaders in the realms of innovation, health policy, leadership, clinical education, and evidence-based practice. The curriculum is designed to cultivate the next generation of nursing executive leaders, with emphasis on personalized career planning and tailored practicum placements. The DNP Health Systems: Administration/Executive Leadership curriculum includes a range of courses focused on leadership and management with diverse topics such as policy an law, infrastructure and informatics, finance and economics, marketing and communication, quality and safety, evidence-based practice, and social determinants of health. The curriculum is complemented by an extensive practicum component and culminates in a DNP project with additional hours of practicum.

New program. The DNP Leader in Residence program at the Csomay Center is designed to encompass communication and relationship building, systems thinking, change management, transformation and innovation, knowledge of clinical principles in the community, professionalism, and business skills including financial, strategic, and human resource management. The program fully immerses students in the objectives of the DNP Health Systems: Administration/Executive Leadership curriculum and enables them to progressively demonstrate competencies outlined by AONL. The Leader in Residence program also includes career development coaching, reflective practice, and personal and professional accountability. The program is integrated throughout the entire duration of the Leader in Residence’s coursework, fulfilling the required practicum hours for both the DNP coursework and DNP project.

The DNP Leader in Residence program begins with the first semester of practicum being focused on completing an onboarding process to the Center including understanding the center's strategic plan, mission, vision, and history. Onboarding for the Leader in Residence provides access to all relevant Center information and resources and integration into the leadership team, community partnerships, and other University of Iowa College of Nursing Centers associated with the Csomay Center. During this first semester, observation and identification of the Csomay Center Director's various roles including being a leader, manager, innovator, socializer, and mentor is facilitated. In collaboration with the Center Director (a faculty position) and Center Coordinator (a staff position), specific competencies to be measured and mastered along with learning opportunities desired throughout the program are established to ensure a well-planned and thorough immersion experience.

Following the initial semester of practicum, the Leader in Residence has weekly check-ins with the Center Director and Center Coordinator to continue to identify learning opportunities and progression through executive leadership competencies to enrich the experience. The Leader in Residence also undertakes an administrative project for the Center this semester, while concurrently continuing observations of the Center Director's activities in local, regional, and national executive leadership settings. The student has ongoing participation and advancement in executive leadership roles and activities throughout the practicum, creating a well-prepared future nurse executive leader.

After completing practicum hours related to the Health Systems: Administration/Executive Leadership coursework, the Leader in Residence engages in dedicated residency hours to continue to experience domains within nursing leadership competencies like communication, professionalism, and relationship building. During residency hours, time is spent with the completion of a small quality improvement project for the Csomay Center, along with any other administrative projects identified by the Center Director and Center Coordinator. The Leader in Residence is fully integrated into the Csomay Center's Leadership Team during this phase, assisting the Center Coordinator in creating agendas and leading meetings. Additional participation includes active involvement in community engagement activities and presenting at or attending a national conference as a representative of the Csomay Center. The Leader in Residence must mentor a master’s in nursing student during the final year of the DNP Residency.

Implementation of the DNP Leader in Residence Program

PDSA Cycle: Do

Immersive experience. In this case study, the DNP Leader in Residence was fully immersed in a wide range of center activities, providing valuable opportunities to engage in administrative projects and observe executive leadership roles and skills during practicum hours spent at the Csomay Center. Throughout the program, the Leader in Residence observed and learned from multidisciplinary leaders at the national, regional, and university levels who engaged with the Center. By shadowing the Csomay Center Director, the Leader in Residence had the opportunity to observe executive leadership objectives such as fostering innovation, facilitating multidisciplinary collaboration, and nurturing meaningful relationships. The immersive experience within the center’s activities also allowed the Leader in Residence to gain a deep understanding of crucial facets such as philanthropy and community engagement. Active involvement in administrative processes such as strategic planning, budgeting, human resources management, and the development of standard operating procedures provided valuable exposure to strategies that are needed to be an effective nurse leader in the future.

Active participation. The DNP Leader in Residence also played a key role in advancing specific actions outlined in the center's strategic plan during the program including: 1) the creation of a membership structure for the Csomay Center and 2) successfully completing a state Board of Regents application for official recognition as a distinguished center. The Csomay Center sponsored membership for the Leader in Residence in the Midwest Nurse Research Society (MNRS), which opened doors to attend the annual MNRS conference and engage with regional nursing leadership, while fostering socialization, promotion of the Csomay Center and Leader in Residence program, and observation of current nursing research. Furthermore, the Leader in Residence participated in the strategic planning committee and engagement subcommittee for MNRS, collaborating directly with the MNRS president. Additional active participation by the Leader in Residence included attendance in planning sessions and completion of the annual report for GeriatricPain.org , an initiative falling under the umbrella of the Csomay Center. Finally, the Leader in Residence was involved in archiving research and curriculum for distinguished nursing leader and researcher, Dr. Kitty Buckwalter, for the Benjamin Rose Institute on Aging, the University of Pennsylvania Barbara Bates Center for the Study of the History of Nursing, and the University of Iowa library archives.

Suggested Evaluation Strategies of the DNP Leader in Residence Program

PDSA Cycle: Study

Assessment and benchmarking. To effectively assess the outcomes and success of the DNP Leader in Residence Program, a comprehensive evaluation framework should be used throughout the program. Key measures should include the collection and review of executive leadership opportunities experienced, leadership roles observed, and competencies mastered. The Leader in Residence is responsible for maintaining detailed logs of their participation in center activities and initiatives on a semester basis. These logs serve to track the progression of mastery of AONL competencies by benchmarking activities and identifying areas for future growth for the Leader in Residence.

Evaluation. In addition to assessment and benchmarking, evaluations need to be completed by Csomay Center stakeholders (leadership, staff, and community partners involved) and the individual Leader in Residence both during and upon completion of the program. Feedback from stakeholders will identify the contributions made by the Leader in Residence and provide valuable insights into their growth. Self-reflection on experiences by the individual Leader in Residence throughout the program will serve as an important measure of personal successes and identify gaps in the program. Factors such as career advancement during the program, application of curriculum objectives in the workplace, and prospects for future career progression for the Leader in Residence should be considered as additional indicators of the success of the program.

The evaluation should also encompass a thorough review of the opportunities experienced during the residency, with the aim of identifying areas for potential expansion and enrichment of the DNP Leader in Residence program. By carefully examining the logs, reflecting on the acquired executive leadership competencies, and studying stakeholder evaluations, additional experiences and opportunities can be identified to further enhance the program's efficacy. The evaluation process should be utilized to identify specific executive leadership competencies that require further immersion and exploration throughout the program.

Future Innovation of DNP Leader in Residence Programs in Non-traditional Healthcare Settings

PDSA Cycle: Act

As subsequent residents complete the program and their experiences are thoroughly evaluated, it is essential to identify new opportunities for DNP Leader in Residence programs to be implemented in other non-health care system settings. When feasible, expansion into clinical healthcare settings, including long-term care and acute care environments, should be pursued. By leveraging the insights gained from previous Leaders in Residence and their respective experiences, the program can be refined to better align with desired outcomes and competencies. These expansions will broaden the scope and impact of the program and provide a wider array of experiences and challenges for future Leaders in Residency to navigate, enriching their development as dynamic nurse executive leaders within diverse healthcare landscapes.

This case study presented a comprehensive overview of the development and implementation of the DNP Leader in Residence program developed by the Barbara and Richard Csomay Center for Gerontological Excellence. The Leader in Residence program provided a transformative experience by integrating key curriculum objectives, competency-based learning, and mentorship by esteemed nursing leaders and researchers through successful integration into the Center. With ongoing innovation and application of the PDSA cycle, the DNP Leader in Residence program presented in this case study holds immense potential to help better prepare 21 st century nurse leaders capable of driving positive change within complex healthcare systems.


         The author would like to express gratitude to the Barbara and Richard Csomay Center for Gerontological Excellence for the fostering environment to provide an immersion experience and the ongoing support for development of the DNP Leader in Residence program. This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.

  • American Association of Colleges of Nursing. The essentials: core competencies for professional nursing education. https://www.aacnnursing.org/Portals/42/AcademicNursing/pdf/Essentials-2021.pdf . Accessed June 26, 2023.
  • American Organization for Nursing Leadership. Nurse leader core competencies. https://www.aonl.org/resources/nurse-leader-competencies . Accessed July 10, 2023.
  • Warshawsky, N, Cramer, E. Describing nurse manager role preparation and competency: findings from a national study. J Nurs Adm . 2019;49(5):249-255. DOI:  10.1097/NNA.0000000000000746
  • Van Diggel, C, Burgess, A, Roberts, C, Mellis, C. Leadership in healthcare education. BMC Med. Educ . 2020;20(465). doi: 10.1186/s12909-020-02288-x
  • Institute for Healthcare Improvement. Plan-do-study-act (PDSA) worksheet. https://www.ihi.org/resources/Pages/Tools/PlanDoStudyActWorksheet.aspx . Accessed July 4, 2023.
  • Taylor, M, McNicolas, C, Nicolay, C, Darzi, A, Bell, D, Reed, J. Systemic review of the application of the plan-do-study-act method to improve quality in healthcare. BMJ Quality & Safety. 2014:23:290-298. doi: 10.1136/bmjqs-2013-002703

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