Business Case Research
The business case is documentation that is adopted by a business/ enterprise senior management in assessing a situation and providing justification to the proposed projects. The document aims at introducing change to improve the appearance of the organization through seeking ways of convincing the sponsors to meet the project funding. Always upon the approval of the documentation, the action confirms the senior management support to ensure that the idea gets implemented.
A business case is a formal documentation that is based on an argumentative formation that gets the mandated group of preparing the document present several ideas. It gets the group with the duty of posting an argumentative description as to why they propose a particular idea to win the support of funding the idea from the organization stakeholders, sponsors, and donors. It is descriptive in a way that a business case aims at identifying the action that is appropriate for the general growth and expansion of the organization/ enterprise business operations. In general, a business acts as a communication tool that carriers tangible and descriptive evidence to the suggestion of an action for the easy understanding by the responsible persons responsible for facilitating the development and implementation of the action. It is much focused on an existing business where it aims at introducing change to better the services and operations. Business case masters in ensuring that operations are undertaken accordingly (Harvard Business Review Press, 2011).
Business plans can be described as well as a formally documented statement that gives clear explanation and description of the organization business goals and objectives alongside the stating of the appropriate and necessary plans for ensuring the achieving of the business goals. Therefore, a business plan is a well-prepared document that takes advantage of the newly identified opportunities within a given location with the aim of exploring the opportunities. It provides a good description of what should get undertaken to maximize the available resources to get the objectives defined achieved. It is a focus on introducing new business in the market prior research and examination that draws the identification of appropriate and matching business opportunities (Schmidt, 2015).
Subsequently, a business plan is associated with the provision of appropriate information that regards the organization business operations that is relevant. Therefore, upon its preparation, the document will majorly take a focus on ensuring that the required information and activities are well implemented to have the accomplishment and achieving of the company goals. There is always a clear description of the business background thus impacting positively to the reputation of the company. As the goals and objectives of the business are well defined, there is the follow of having a clear understanding of the business intents. Therefore, a business plan guarantees the provision of the understanding the expectations of the business (Cardin, Cullen, Symons & Belanger, 2007).
A business case is defined with the content that constitutes the examination of business, identifying an underlying problem and giving suggestions to solving the problem from which the best option is selected. The information is defined in several phases, however; it depends on the kind of template being used. All in all, there are common phases in the different phases. We cannot fail to mention the executive summary that provides a good description of what is contained in the entire business case documentation. In such an executive summary it cuts across the information regarding the identified business opportunity and the relationship that exist between the intended actions and the finances. Otherwise, other constituents include the business problem, evaluation of the opportunities and the overview of the business history.
A business plan, on the other hand, takes a focus on some other different sections of the business. The business plan majorly concentrates on the business goals and objectives that are the driving mechanisms to the operations of the business. There is the containing of the anticipated future achievements of the organization with the definition of the actions to get implemented. There are also the strategies that are appropriate for implementing the actions that facilitate achieving of the business goals and objectives. The strategies are the core of the business plan. They can be defined in the form of a business opportunity that upon being implemented it gets the entire business at a different level (Sahlman, 2008). Other supportive details that the business plan will contain includes the organizations, sales, markets (defines consumer distribution) and the business financial forecast. In such a case the actions will get implemented at meeting the defined forecasts of different disciplines. The details are always summarized to get the document precise short and direct to the point. On the other hand, the business plan constituents aim at providing the ways of measuring business success and progress.
A business case aims at implementing actions through introducing a change that will tend to solve the problems affecting the business. It takes through searching for the issues. The business plan provides the ways of getting the operations done to get the issues avoided. Therefore, both the business case and the business plan have the objective of ensuring that the business operates within a good conducive environment with the focus on meeting the strategic goals of the organization. Supportively, the business case will extend of introducing change to solve the underlying problems whereas the business plan will provide the appropriate strategies for getting the business operations boosted with the escape of challenges.
Both the business case and business plan require some professional preparations such as the business analysts and other supportive experts. Either of the documents can get improved to meet the functions of the other document. Therefore, they work hand in hand with closely related objectives. In most cases the business case is the one applied to incorporate the business plan.
The details provided within the business case serves a selective task that aims at detailing the action under the proposal. On the examination of the business case, one will realize that a business case template contains different sections which term the document as professional. The details of the business case provide an evaluation of the action and provide a precise presentation of the idea to get the intended audience convinced of the proposal laid before them. The details provide a good description for a good understanding of the proposed project alongside the project impact to the business. Therefore, it should get understood that the information includes the examination of the current business situation and present some neglected information that resulted to the proposing of the particular action to get the business back to the normal required level of operation that will see it meeting the objectives. Details tend at describing the business in general and providing what is required to get the business improved or get the underlying problems resolved without affecting the normal operations of the enterprise.
Based on the examination done to the three business case templates, the business case templates A was desirable for the application. The template is detailed in a way that it creates a good mood/ way of the reader to have the desire of understanding what is provided within the document. The template begins by providing a nice executive summary of the entire document thus creating the need of knowing what is contained. The template is well summarized with the beginning of providing a good understanding of the purpose of the business case for presentation. It is followed by the preparation of the reader that the project is already approved and has no need of rejecting by proving a good project description. The project impact to the business is provided that will get the reader with a clear mind of not worrying about the effects of the project being implemented.
The most exclusive phase is the description of the different alternatives that are presented with the template. The alternatives are followed with analysis that gets the person to understand what can be ripped from a particular alternative. Finally, in another phase, there is the good description of the preferred solution that entails the description of the financial considerations, preliminary acquisition strategy, the preliminary work breakdown structure, the assumptions, and constraints. The template is direct to the point and contains all the required information.
Cardin, L., Cullen, A., Symons, G. & Belanger, B. (2007). The components of a quality Business Case.
Harvard Business Review Press. (2011). Developing a business case: Expert solutions to everyday challenges. Boston, Mass: Harvard Business Review Press.
Sahlman, W. A. (2008). How to write a great business plan. Boston, Mass: Harvard Business School Press.
Schmidt, M. (2015). The business plan explained.