The Employee/Company Manual should provide employees of a Company with clearly detailed information regarding the company’s policies and expectations for its employees.
- The Company Manual ensures that certain basic standards are met. It deals with with procedures and requirements necessary for the smooth running of the organization.
- A company/employee manual helps to maintain a stable, competent work force which is well- informed in all employment matters and also it provides employees with full opportunities for growth, expression of ideas, work satisfaction and recognition for their contributions.
Performance Management System
A management process for ensuring employees are focusing their work efforts in ways that contribute to achieving the company’s mission. It consists of certain phases:
- Setting expectations for employee performance,
- Maintaining a dialogue between supervisor and employee to keep performance on track, and
- Measuring actual performance relative to performance expectations.
A performance management system should provide employees with these four basic benefits
The current challenging economic environment necessitates that companies ensure efficiency in their operations and costs. A key aspect of this is an efficient and productive human capital management and the elimination of inefficiencies by reducing slack and wastage.
The importance of Human Resources Management makes personnel audit a strategy tool which if used properly will improve personnel management and increase company competitiveness thereby achieving the company’s strategic goals.
A staff audit is the systematic, independent review and appraisal of all departmental (personnel) operations. It is a process of examining policies, procedures, documentation, systems, and practices with respect to an organization’s HR functions. It is to determine the efficiency, effectiveness and economy of the personnel management and controls. A staff audit produces an unbiased assessment of each individual member of staff.
Staff audit addresses the issues of monitoring, measuring and defining corporate culture and climate and it’s closely associated with communication and customer care systems.
The audit itself is a diagnostic tool, not a prescriptive instrument. It helps to analyse what is missing or what needs to be improved. A personnel audit also provides the employer a real picture of the characteristics, capabilities and competences of individual employees in specific positions and their suitability to their Job Descriptions or potentially for other positions. At the end of the audit we will:
- Find out the relationship between resources and results. Where resources are capital investment, administration, marketing, personnel running cost and results are profit or production and sales revenue.
- Find out how management can do more to control workers’ compensation costs.
- Find out the benefit that management is providing its employees are competitive and cost effective.
- Find out what your employees think, how they behave and what they value.
- We will also find out if there are more effective ways to communicate policies and standards.
Business Plan Template
- Title page
The title page of your business plan should include some brief information on your business, including your:
- Business logo – Adding a logo helps give your business a more professional image.
- Business owner’s name – Enter multiple names if there are multiple owners.
- Business owner’s title – The titles of the business owner(s) listed above (e.g. Owner/Manager)
- Business name – Enter your business name as registered in your state/territory.
- Main business address – Enter your main business address. This can be your home address if you are a home-based business or your head office if you have more than one location.
Your business summary should be completed last, be no longer than a page and should focus on why your business is going to be successful. Your answers below should briefly summarise your more detailed answers provided throughout the main body of your business plan.
2.Business plan summary/ Executive Summary
- Business name as registered in your state/territory – If you haven’t registered your business name, add your proposed business name.
- Business structure – Enter whether you’re a sole trader, partnership, trust or company.
- Date the business was established – This is the date you started trading. Whether it was the date you opened your doors or the date your purchased business opened its doors.
- List of business owners – List the names of all business owners.
- Relevant owner experience – Briefly outline your experience and/or years in the industry and any major achievements/awards.
- Products/services – Briefly list the products/services you’re selling and the anticipated demand for your products/services. These answers should briefly summarise your answers under the main products/services section.
Under the future summary section enter your:
- Vision statement – Your vision statement should briefly outline your future plan for the business. It should also clearly state your overall goals. To keep it brief you may prefer to use dot points in your summary.
- Goals/objectives – List your short and long term goals and the activities you’ll undertake to meet them.
Under the market summary section enter your:
- Target market – Briefly explain who your customers are and why they’d buy your products/services over your competitors. This section should briefly summarise your answers under the main Market section. Marketing strategy – Briefly explain how you plan to enter the market, how you intend to attract customers and how and why this strategy will work. This section should briefly summarise your answers under the main Market section.
Under the finances summary section briefly outline your sales forecast or how much profit you intend on making in a particular timeframe. Include how much money you’ll need up-front, where you’ll source these funds, what portion of funds you’ll be seeking from other sources and how much of your own money you’ll be contributing towards the business.
This section can be quite brief in the summary. It should give the reader a quick idea of your current financial position, where you’re heading financially and how much you need to get there. You can provide more detail in the main Finances section of your business plan.
This is the main business section of your business plan and should cover more detailed information about your business.
3. The Business
Use the main points from this section to help you write your business plan summary. Within this main business section, you can include:
- Business details | Business plan template
- Organisation details | Business plan template
- Products or services | Business plan template
- Innovation | Business plan template
- Insurance and risk management | Business plan template
- Legal considerations | Business plan template
- Operations | Business plan template
- Sustainability plan | Business plan template
4. Marketing Plan
This is the main market section of your business plan and should cover more detailed information about your market. Once completed, use the main points from this section to help you write your business plan summary. Within the main business section, you can include the following information.
Detail any statistical research you’ve completed to help you analyse your market. Include the method used for example, survey/questionnaire. If you’ve used a survey/questionnaire, you may like to attach a copy of your survey/questionnaire to the back of your plan.
List your planned sales targets. For example, the quantity of products/services you plan to sell in a particular timeframe. For each target, detail whether these are monthly or yearly targets. For example, you may set yourself a target of selling 1 000 products in 12 months.
Detail the results of any market research you have performed. Consider the following questions when preparing this section:
- Is the area experiencing population growth?
- Are there long-term employers in the area?
- Is the region’s economy stable?
- Are there seasonal variations?
- What is the size of the market?
- What recent trends have emerged in the market?
- What growth potential is available and where do you fit in?
- How will the market/customers change when you enter the market?
Under the customers section of your business plan you can include the following information:
- Customer demographics – Define who your target customers are and how they behave. You can include age, gender, social status, education and attitudes.
- Key customers – Identify and detail your key customers. These can be large consumers of your products or individuals whose satisfaction is key to the success of your business. Detail how you plan to target your products/service to them.
- Customer management – Detail how you’ll maintain a good relationship with your customers and how you’ll keep them coming back. Detail any techniques you’ll use such as introducing customer service standards or following a particular code of practice.
- S.W.O.T. analysis
Under the Strengths, Weaknesses, Opportunities, Threats (S.W.O.T) analysis section of your business plan list your:
- Strengths – Enter the strengths of your business. For example, experience in the industry.
- Weaknesses – Enter the weaknesses of your business. For example, the location of your business.
- Opportunities – Enter the opportunities available to your business. For example, a new export opportunity.
- Threats – Enter the threats that could impact your business. For example, a new competitor entering the market.
Under the competitors section of your business plan detail how you rate against your competitors and how your business can improve on what they offer. Also list your top 5 competitors and provide the following information for each:
- Competitor – Enter each competitor’s business name.
- Established date – Enter the date they were established.
- Size – Enter the number of staff and/or turnover of their business.
- Market share (%) – Enter an estimate of the percentage of market share owned by each competitor.
- Value to customers – Enter their unique value to customers and why their customers do business with them. For example, convenience, quality, price or service.
- Strengths – Enter your competitor’s main strengths.
- Weaknesses – Enter your competitor’s main weaknesses.
Advertising & sales
Under the advertising and sales section of your business plan you can include the following information:
- Advertising & promotional strategy – Detail any strategies you have for promoting and advertising your products/services in the next 12 months. For each planned promotion/advertising activity, provide the following information:
- Planned promotion/advertising type – For example, print media advertising, online advertising, mail-out, giveaway, media release, social media campaign or event.
- Expected business improvement – Detail how you expect it’ll improve your business success.
Cost – Enter the cost of each planned activity.
- Target date – Enter the date you expect to complete the activity. Include the month and year.
- Sales & marketing objectives – When preparing this section consider including details of the people that make up your sales team, the sales techniques and tools/materials they will use to help sell your products/services and the sales goals/targets they will meet.
- Unique selling position – Detail why you think you have an advantage over your competitors and how your products/services will succeed in the market where others may have failed.
- Sales & distribution channels – List your sales and distribution channels. For each channel include the following details:
- Channel type – For example, shopfront, internet, direct mail, export or wholesale.
- Products/services – List all the products/services sold via this channel.
- Percentage of sales – Enter the percentage of overall sales you expect to sell via this channel.
- Advantages – List the advantages of using this channel for these products.
- Challenges – Detail the challenges you expect to face using this channel and how you will overcome them.
5. Future Plans
This is the main future section of your business plan and should cover more detailed information about the future of your business. Once completed, use the main points from this section to help you write your business plan summary.Vision statement
Under your vision statement section include a brief statement that outlines your future plans for the business and includes your overall business goals.
Under your mission statement section include a brief statement that outlines how you will achieve your vision.
Under your goals/objectives section include your short and long term goals, as well as the activities you will undertake to meet them.
List your key business milestones and include the following details for each:
- Milestone – Detail the milestones you are trying to achieve starting from today.
- Date of expected completion – Enter the date you expect to achieve each milestone.
- Person responsible – Enter the name or position of the person responsible for delivering this milestone.
Please note: Your sustainability milestones will be listed separately in the sustainability section.
6. Financial Plan
This is the main finances section of your business plan and should cover more detailed information about your business finances. Once completed, use the main points from this section to help you write your business plan summary.
Key objectives & financial review
Under the key objectives and financial review section of your business plan you can include the following information:
- Financial objectives – List your key financial objectives. These can be in the form of sales or profit targets. You could also list your main financial management goals such as cost reduction targets.
- Finance required – Enter how much money you need up-front and include:
- Where you’ll obtain the funds.
- What portion you’ll be seeking from loans, investors, business partners, friends or relatives, venture capital or government funding.
- How much of your own money you’ll be contributing towards the business.
Under the financial assumptions section of your business plan you should list the assumptions you made when preparing your financial statements. These can include seasonal adjustments, drought or interest rates.
Under the financial statements section of your business plan you should attach your key financial statements including:
- Start-up costing | Business plan template
- Cash flow statement | Business plan template
- Profit and loss statement | Business plan template
- Balance sheet | Business plan template
- Break-even analysis | Business plan template
7. Supporting Documents
Under the supporting documentation section, list all of your attachments included in your business plan. These may include copies of:
- Business name registration certificate
- Nigerian Business Name
- VAT registration
- Domain name registrations
- Lease papers
- Loan agreement/property ownership documentation
- Partnership agreement
- Resumes of owners & staff
- Intellectual property registrations (e.g. trade marks, patents, designs)
- Confidentiality agreements
- Insurance policies
- Inventory list
- Market research survey/questionnaires
- Start-up costing
- Balance sheet
- Profit and loss statement
- Cash flow statement.