Despite the internet’s massive ads, a business plan is not something you should buy or find prewritten. In fact, buying a business plan means is as useful as buying medical prescription written for somebody else years ago. It also means that you have no intention to benefit from planning your own business.
At Daremtec, We help young SMEs understand that a business plan is not only developed for creditors in order to get seed capital, shareholders or development loans. Running a business effectively requires minding the details but also watching the horizon.
How to align strategy to operations in young SMEs?
According to the survey conducted by the founders of balanced scorecard, Robert S. Kaplan and David P. Norton (Harward Business School Publishing, 2005), There is a disconnect in most companies between strategy formulation and strategy execution :
- 90% of companies have strategic plans with growth targets but only 10% achieve them.
- 95% of a company’s employees do not understand its strategy
- 60% of companies do not link budgets to strategy
- The vast majority of executive teams spend less than one hour per month discussing strategy
- Strategic business planning is primarily found in large companies rather than in Young SMEs.
At Daremtec, our mission is to help young SMEs to lift the barriers that prevent effective execution of their strategy. We provide our customers with business performance measurement and management solutions through our QSBSC (Quick Sustainability Balanced Score card) or Business Intelligence Strategic Dashboard.