How to Develop a Business Plan for a Company Division
Developing a business plan for a company division can help management as well as employees define the division's role within the overall picture. In addition, a well-written plan for a division can help determine whether that particular division is operating as smoothly as it could, and if not, what might be done to improve it. Using a well-written division plan can promote the strengths of that group of employees and showcase the division's value to the company as a whole.
Define the role the division plays within the overall company picture. If the division depends on other divisions, be sure to outline that dependency so a method can be used that will provide narrowly defined plans for the one division in question.
Outline a mission statement for the division that dovetails with the company's overall mission statement. Be sure to include specific goals and projections for the mission statement as they apply to the division itself, independent of the overall company.
Produce a time line for various steps to be completed within the division. For example, if the division wants to produce x number of products within the next year, outline the steps it will take each month to have reached the end goal by year's end. Leave room for error and problems so the goal is realistically attainable.
Prepare a budget that takes the division funding and determines how it can be used most efficiently. Within the budget, include employee wages, materials, insurance, percentages of utilities and any other item that would normally be attributed to that division.
Promote the division with a marketing plan that will highlight the division strengths for the rest of the company and remind members of management about the division's strength and contributions to the overall goals of the company.