4 essential elements of business case for senior managers (Guest blog)by
There is a very common and old myth that a business case is some sort of a highly technical and top notch document with a language not possible for everyone to understand. It is some sort of a book with hundreds of pages in it, describing highly classified information and numbers. In essence and reality, all this is just the complicated version of a largely simple document, in some cases not even a document.
When managers work on a business case, keeping that kind of a benchmark in their minds, they are for sure working on an impending disaster. This is not the purpose and reality of a business case, but in fact it is a communication tool for managers having the language which their target audience would understand and a logic behind views presented which can aid or help the opposing party to make a decision in favor or against it. This is how simple a business case is and should look like. Today’s blog is going to talk about four essential elements of a business case that all senior managers should always remember and focus on.
Structure of a business case
Everything which is not organized and does not have the right structure will look complicated and bad. This is why for a business case to be strong, it should have a strong structure with sections like Executive Summary, Objectives (of the business case, the big business idea, the return objectives and milestones), Opportunities, challenges, plans and other information which can help you present the case in a better way. Without proper structuring, you will always struggle to make your target audience understand what is it that you are going to talk about or require.
Credibility of the information
Any claim, research or point you are making in your business case should be a point of truth and there is no two way street about it. Your information has to be vetted; clarified and perfectly credible otherwise it can even count as an attempt for fraud. In any business case, credibility of numbers, information and data present a very strong point of view for third parties who are the decision makers and they most probably base their decisions on these numbers that you present to them. If you are unsure of the information you are presenting or the claim you make, then get it backed up by strong sources or just do not put it in the business case.
For any business to survive, a senior business manager has to know the realities of the market, the scenario which is going on and the conditions that the business will operate in. So your analysis of the market and your intelligence gathered again play an important role in making your business case really strong.
Hard work and passion
In the end, no matter what you do, if you do not have the passion to make this thing work then it will not work. So, for senior managers, having the passion to ensure success in the business they are presenting is very important.
Anderson James is the author of this blog post. Anderson works as a business consultant having global and local clients asking his advice on business decisions. He likes to contribute blogs on the famous website Dissertation House UK further information contact here at Twitter.