Second Attempt Assignment 2: Business Plan Breakdown 3—The Simplified Financial Plan
ATTACHED YOU WILL FIND ASSIGNMENTS 1, 2 & 3:
1. Assignment 3 needs to be redone to include the Consulting Company’s Name (this is the business venture – Call/Name It MSOL Consoluting) and the Financial Plan (which needs to be properly formatted)..
2. Who are our clients? (Choose a healthcare organization which you are overseeing the transition of the clinical engineering department)…
3. SEE BELOW for all other requirements….
Assignment 2: Business Plan Breakdown 3—The Simplified Financial Plan
This is the third milestone of your business plan—the financial plan.
Research the costs, financial statements, cash flow, and risks of your chosen project. Based on your research and the knowledge you have gained from the course, create a simplified 4- to 5-page financial plan including tables and charts. For the financial plan:
- Estimate the capital requirements, use of capital, start-up requirements (if applicable), and other probable costs involved in the implementation and subsequent operation of your project.
- Identify the sources of financing.
- Define a payback period.
- Prepare cash flow projections.
- Prepare a projected balance sheet representing the end of the first calendar year of operations and defining assets and liabilities, both current and long term.
- Prepare income statement projections for the end of the first calendar year of operations, including charts showing gross revenues, gross profit, and net income.
- Define the meaning of a break-even analysis and prepare an analysis appropriate for your project.
- Prepare a ratio analysis, including the definition and value of the following ratios (whichever applicable)—current, quick, debt, debt-to-equity, average inventory turnover, receivables turnover, payables turnover, net sales to working capital, net profit to sales, and net profit to equity.
- Prepare a list of possible risks associated with the implementation and future operation of your project and describe the significance of each of them.
Running head: BUSINESS PLAN BREAKDOWN 1
BUSINESSPLAN BREAKDOWN 7
Top management plays a crucial role within an organization through value proposition and enhancing the adoption of strategies to strengthen the company’s position. Significantly, leadership plays a vital role in the implementation of innovative practices within an organization. In this regard, leaders often function as change agents by not only creating a vision but also highlighting the need for organizational change and enactment of the identified change process (Aarons, Ehrhart, Farahnak & Hurlburt, 2015). The importance of this initiative is emphasized by the fact that implementation of continuous and transformational change enables a firm to remain competitive. As a result, leadership innovation and implementation of change initiatives are subject to supplemental research as it equips effective organization strategies for sustenance in the highly competitive business environment (Gilley, Gilley & McMillan, 2010). Considerably, the implementation of change practices has in the past been inhibited by the inability to modify organizational leadership styles (Mustafa, 2017). Therefore, implementation of the organizational change initiative highlights the importance of adopting innovative leadership styles.
Vision: To ignite and empower employees with innovative leadership strategies to enhance implementation of organizational changes and overcome challenges, and attain aspiration. The mission statement for the change initiative is; driven to positively impact organizations through the advancement of leadership approaches that facilitate the integration of organizational change management practices to strengthen the company’s position. Through this, the initiative seeks to emphasize the importance of incorporating innovative leadership strategies as they facilitate change processes thereby cementing a firm’s competitive position within the business environment (Aarons, Ehrhart, Farahnak & Hurlburt, 2015). Significantly, its core belief and culture is enhancing cohesion between the top management and employees thereby creating a positive impact on staff morale and productivity (Mustafa, 2017). The role of innovative leadership is the facilitation of effective communication to the staff members by the top management. Therefore, leaders will be required to operate from a broader perspective particularly during the generation of ideas and improvement of organizational practices during the change process.
The implementation of organizational change practices is dictated by the adoption of innovation and change management practices to support the initiative. Notably, most companies adopt a bureaucratic type of leadership for undertaking different roles and responsibilities (Mustafa, 2017). While this leadership approach has been successful in most ventures, it does not offer a proper structure to organizational management, particularly in the enactment of change practices (Gilley, Gilley & McMillan, 2010). This heightens the need to integrate innovative approaches such as the Genome Framework that provides the top management within a company a clear set of understanding on how to provide their workforce more freedom within the working environment. Consequently, this will create a sense of cohesion amongst the staff members (Aarons, Ehrhart, Farahnak & Hurlburt, 2015). Additionally, the top management will be required to incorporate other performance improvement measures rather than solely focusing on the completion of responsibilities and attainment of the set objectives.
Organizational objectives can be attained through effective cross-functional approaches. This initiative aims to facilitate implementation of organizational changes through the adoption of innovative leadership strategies and effective change processes. Both innovation and the change management models provide a solution to business challenges in the highly competitive operating environment (Gilley, Gilley & McMillan, 2010). Pointedly, the initiative will be participating in the management consulting industry with the sole objective of evaluating leadership innovation and change management problems encountered by organizations. Through this, the initiative seeks to propose the need for organizational changes through the adoption of innovative and change management practices (Mustafa, 2017). Implicitly, the initiative intends to offer validated leadership approaches for organizational development through the description of varying leadership dimensions. For instance, the Full-range leadership model is a researched approach emphasizing the importance of transformational leadership as a source of motivation to the employees (Aarons, Ehrhart, Farahnak & Hurlburt, 2015). In this regard, the initiative seeks to propose different innovative leadership styles ought to be integrated into company’s and effective change management practices to enhance a firm’s competitive position. Considerably, this initiative has a strategic advantage in that most management consulting firms have focused on finance and accounting services while sidelining the need for best management practices which is an integral component of success (Mustafa, 2017). Organizational success is determined by the integration of effective management approaches that foster positive relationships between the top Mangement and the employees. While most organizations have been successful in the past, the ever-changing business environment emphasizes the need for effective change management practices.
The Master of Science in organizational leadership comprehensively covers the importance of leadership within companies. Competent leadership is integral to the implementation of suitable changes for an organization. Primarily, this highlights the type of knowledge, skills, and competencies required by a leader to facilitate an effective organizational change. Significantly, it is essential to highlight the relations between leadership competencies and successful organizational change. Based on this, the proposed initiative focuses on innovative leadership strategies and their impact on effective change management practices. While the Master of Science in organizational leadership provides a background overview of leadership within organizations, the initiative seeks to propose a set of leadership approaches and change management models for organizations. Therefore, this initiative focuses on innovative leadership strategies and their influence on change processes which forms an integral component of the registered program.
The feasibility of this initiative will be analyzed through surveys. Implicitly, the survey methodology will entail sampling of organizations to ascertain their need for training on innovative leadership and change management practices. Different data collecting techniques such as the use of questionnaires will be used after which the data will be validated to improve the accuracy of the responses. Significantly, the survey will provide the statistical inferences regarding the different leadership and change management problems faced by organizations. Through this, the need for the initiative will be highlighted. Therefore, surveys will be used for providing the relevant information required to supplement the initiative.
|Strengths· Customer demand· Lack of competition in the external environment· Apparent skills and capabilities· Provision of a different services· Focus on a specific market niche||Weaknesses· Obstacles regarding the investment capital needed to launch the marketing campaign.· Limited research on the initiative· Declining customer base|
|Opportunities· New international markets· Great potential in new markets· Loyal customer base· Capitalizing on new technologies||Threats· Competition· Change of customer needs· Cost sensitive market|
Aarons, G. A., Ehrhart, M. G., Farahnak, L. R., & Hurlburt, M. S. (2015). Leadership and organizational change for implementation (LOCI): a randomized mixed method pilot study of a leadership and organization development intervention for evidence-based practice implementation. Implementation Science, 10(1), 11.
Gilley, A., Gilley, J. W., & McMillan, H. S. (2010). Organizational change: Motivation, communication, and leadership effectiveness. Performance improvement quarterly, 21(4), 75-94.
Mustafa M (2017) Leadership Innovation and Implement Organizational Change and Lead a New Initiative through Adoption of the Innovation and Change Management Practices for Shiraz Industries Private Limited Company: A Survey from Pakistan. J Bus Fin Aff 6: 278. Doi: 10.4172/2167-0234.1000278