Fundamental Components of a Business Case


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number


Overview/Description
"I don't know why a business case is necessary. Let's talk to the manager about our idea. I'm sure she'll agree with it". Sounds familiar? Lots of us have heard these words before. Maybe we've even said them. Nowadays, you have very little chance to persuade the decision makers within your organisation to implement your new product/service ideas based merely on a spoken suggestion. The reason? Supervisors, managers, and others want to SEE (not just HEAR) the arguments for developing new products. The BEST way to convince them is by presenting a well thought-out business plan. In this course, you'll learn solid reasons for preparing business cases and why they are worth the time and effort involved. You'll understand how to determine exactly who your audience will be--it's usually not just your manager. You'll look at ways to appropriately define your product or service to your audience. Finally, you will examine ways to conduct the background research that will be an integral piece of your successful business case.

Target Audience
Supervisors, Managers, Product Developers

Expected Duration (hours)
3.5

Lesson Objectives

Why Prepare a Business Case?

  • recognise the benefits of a well-prepared business case.
  • recognise the definition of a business case.
  • identify the people who will approve new products and/or services.
  • recognise the four major steps in testing the business idea.
  • specify the internal resources needed to implement a new idea/product.

    • The Business Case Audience

  • recognise the value of correctly identifying the audience of a business case.
  • specify possible decision makers for a business case.
  • determine the audience using the business case to implement the project.
  • identify methods of persuading doubtful decision makers on the viability of given products and services.
  • identify the do's and don'ts of using appropriate business language.

    • Defining the Business Case Concept

  • recognise the value of clearly defining the concept of the business case.
  • select the correct definitions for products and services.
  • recognise whether the end-user is a business or a consumer.
  • identify the three elements of a "total" product: actual product, core benefit and augmented benefits.

    • Researching Your Business Case for Viability

  • recognise the benefits of conducting adequate background research before writing a business case.
  • recognise the role of key ratios in establishing economic viability.
  • identify information needed to analyse the customer base.
  • identify three technical issues that affect competitive edge.
  • identify the important factors in analysing competitive viability.

    • Course Number:
    STGY8211