Having developed a plan of actions, which together with reliable business plan will bring your company advantages and profit (or both of it), you will present the business case to those people, who usually make decisions.
This important document gathers all facts, which concern the plan of actions, including financial requirements of how to hold reorganization.
Writing a business case is likely to help you to define the problems and find the ways how to solve them, which had not come to your mind before.
Leadership may use such case to get advantage in investments over other projects.
In the article below we are going to figure out how to write such business case, which is likely not only to state the problem, but also to solve it.
What is business case and why should you write it?
The term Business Case comes from the Latin “casus” – tangled or unusual case.
Teaching method that requires using real or invented cases from business-lives is going to have 100th anniversary soon– in Harvard Business School case study was implemented in 1924.
Students successfully solved practical cases and then, when they had alike cases at work, they already had a ready-made pattern of the answer or solution.
Since that time, solving business cases has taken its niche in the sphere of education, including MBA and self-education.
The Internet is full of links, which offer you to take part in the solution and create your own case. Such game is rather entertaining and exciting, until it’s a just game.
In real companies, leaders solve such business cases every day, that’s what they usually do.
They solve big and small, strategic and tactical cases, mostly tactical ones.
Their main difference from the teaching cases is that on every specific made decision depends the future of the deal, employee or even the whole company.
Business case represents an all-round examination of this or that situation, which happened under the specific circumstances.
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The situation includes plenty of components:
- information about the company’s inner situation;
- employment pool and potential;
- very often – interpersonal relations of the staff, leadership, partners;
- its outside business;
- the closest rivals;
- analytic data;
- besides, it contains information how the company has changed for its whole existence under the influence of the external factors.
Instruction on how to write a business case
There are three main stages of writing a business case:
- its actual writing.
One should start from the research.
Find out beforehand what has already been written and published on the topic that interests you and look through the most important publications and statistic data.
Define who the consumer of information is.
Try to decide as soon as possible who is supposed to read the results of expenses and profit’s analysis.
Who exactly makes decisions?
Actually, on different levels and stages of this process it may be different people.
The report must respond to the needs, interests, expectations and level of understanding of the consumer of information, which is represented in the report.
It may represent several connected together conclusions with explanatory graphics or tables, or have a single structure with several directions.
Describe a problem, which can be solved only with the help of your suggestions, or the possibilities, which your case suggests using to get the profit.
Think how you will sort the received data.
In such a way, the situation, which you describe in the case, will be easily understood by the readers.
In order to do it you need to put together all data that you have and then start selecting and sorting this information to analyze it.
Divide the case on sections or subtopics, for example this way:
- the introduction of the problem itself;
- short general description of an object (its location, history, attractive characteristics and development);
- information review.
Offer the information analysis, which is represented in tables and graphics, which you included in your case.
Express different suppositions concerning why this object is not so popular.
Explain how exactly your plan of actions is going to solve the problems or how it is going to help to use this possibility.
Show the structure and the hierarchy of the project (in details) and mention the alternative solutions.
Ask a question:
Is it worth attracting mass consumer to this object and which consequences will it bring?
Pay special attention to this question.
Moreover, you should create a subtopic, which is devoted to the government policy.
Which role it plays in the manufacturing sphere towards the items involved, what is allowed and what is forbidden, which measures are taken and how effective they are?
Write in details all possibilities for business activities.
Show your entrepreneurial abilities.
Create and formulate new services and possibilities.
Make some calculations in order to make sure your suppositions and ideas are quite realistic.
Write the analysis of costs and financial profit according to your action plan.
Here you may show the reader the efficiency of investments in your offer.
Set the time limits of your project, so that the reader believed it’s possible to bring it to life.
Here you should mention the details of project’s implementation, goals and key moments.
Use SWOT-analysis to estimate strong and weak sides of the project.
According to this analysis you can define possibilities and threats for the object.
It will help your reader to see how objectively you (or your employees) look at the chances for success of such business model.
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Analyze which risks and advantages for socioeconomic situation can bring the promotion of the chosen object on the market and which measures you can take to lower the backwash effects.
Finish your business case with writing again the formulation of the problem and possibilities, on which your action plan is targeted.
Set the key ways of implementing your plan, sum up the financial profit and mention the expanses, which will follow in case the plan is not implemented.
Write the conclusions.
Here, at the end of narration, instead of writing the formulated answer to the question, which was previously set on solving the case, you’d better ask your readers few more different questions.
Write the annotation to your business case.
This annotation you may put at the beginning of the case’s description (though it’s always written the last thing).
Here you need only the most important information from the finished business case and only a bit of details.
Business case structure
Make it short. Emphasize the most convincing advantages.
The author of the offer.
The priority of the request.
You should indicate the urgency and importance of the case.
Start from the most important thing – 2-4 sentences about the results of your work.
You’d better add 2-3 characteristics, which demonstrate your success (you can present them with bullets).
About the company.
Introduce your client – a company or a person – to the audience.
You may take brief information from the company’s site or account in social networks.
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Write 2-3 paragraphs about the problems and tasks, which the consumer had before he started using the product or service, and about goals the company set.
How your solution helped the client.
Write 2-3 paragraphs, which describe how your products or services solved the problem.
Write 2-3 paragraphs, which prove that your product significantly influenced on the company or person and helped to achieve the set goals.
Add numbers, so that your contribution could be counted.
Additional illustrations, quotes.
Pick one or two powerful quotes, which you can write in conclusion.
You should start writing as soon as you learned how to write your business case.
When you formalize it, you should mind that the gathered information must be expressed in the most laconic and distinct way.
The case must be easy to read and understand.
The most important is that you remember to write in the end the call to actions, so that the audience had an opportunity to learn more about your products or services.