Strategic planning is a management tool used by business entities to carry out business in a more efficient way through focusing on achieving the objectives required by the shareholders. Strategic planning also aims to develop clear goals and objectives and achieve them as well as achieve the desired future state within a specified time period and within possible human and financial resources. This planning is summed up in outlined goals which comprise the strategy.
The Business Plan represents the detailed components of investments and operations. It is required to achieve specific goals that have been pre-determined in the strategic plan through providing human and material means required for this purpose.
The strategy and business plan are both working to guide the company to success. The strategy represents the trend while the business plan represents the translation of such trend into measurable numbers.
The concept mentioned above is applied to business entities on optional basis.
However, companies under the supervision of the Capital Markets Authority in Kuwait should comply with the Executive Bylaws of Law no. (7) of 2010 where Module Five – Securities Activities and Registered Persons – in article 1-5-2 and appendix 5 highlights the detailed requirements for companies intending to obtain a license related to Securities Activities. These requirements should be taken into consideration when preparing the Strategy and Business Plan.
Module Nine – Mergers and Acquisitions – also highlights in Appendix 8 under clause 4 the guidelines for a business plan when undergoing reverse acquisition.
Added value to business entities from Strategy and Business Plan Services
- Assist business entities in understanding and identifying market and competition trends, and hence making wise business decisions.
- Increase profitability and market share, and provide solid competitive advantage.
- Differentiate the business brand and enhance staff satisfaction.
Services provided by Baker Tilly
Baker Tilly helps business entities to develop strategies and business plans through the following:
- Consulting Services
Baker Tilly has accumulated experience in preparing strategies and business plans, where this experience represents a focal point in providing distinctive, direct and measurable solutions.
- Training Services
Training programs, seminars and workshops for business entities are offered. These services are provided by a group of highly qualified and experienced trainers shedding light on the methods of preparing and following up the strategy and business plan.