Overview

Would you ever set out on a journey without a clear destination in mind or without taking time to plan your route? If so, it is likely that you will take a number of detours. The journey would cost you more in time and money that it should have. At the end of the journey, you will be unlikely to find yourself in the place you wanted to be.

Running a hospitality operation without a business plan is much like going on a journey without a clear destination or a road map. The business planning process can help you and your team work out your business’s goals and the best way to achieve these goals.

As a manager it is your job to develop and implement a business plan that will help your business survive and thrive.

A business plan should be used to document broad goals as well as more specific objectives. It can help you and your work team establish strengths and opportunities that you can build on and take advantage of. It also allows you address weaknesses and threats.

Business plan development, implementation and review must be systematic activities so that you can use resources efficiently to achieve organisational goals.

In this unit you will learn how to:

• Analyse the internal and external business environment.
• Formulate business plans and strategies.
• Implement the business plan.
• Monitor the business plan.