Business cases are an essential tool for securing the resources and funding to make an idea a reality. But writing a business case can be challenging. Frequently people struggle to cover everything they need to say whilst keeping it succinct and persuasive.
Often, what we think is important is not. For example: we may think financial analysis is sufficient and give little weight to aspects such as HR, Marketing etc. But a good business case needs to combine all these aspects in order to sell the benefits across the company.
Business Case Competition:
Recently, I was invited to judge a business case competition for students doing MBA at Warwick Business School and Sauder Business School (Vancouver, Canada). Some were full-time students but many were doing an Executive MBA whilst working in management roles.
The students were given a business case and various documents relating to the case. They had a few hours to come up with proposals and present them to the judges. I was able to observe some teams in action. It was interesting to see the students from a variety of countries and backgrounds working together in teams to develop a proposal.
When the time for preparation was up, the teams took turns to present their proposals to the judges. It was good to see the teams present some innovative proposals. In judging the teams, I noted that teams with diversity in backgrounds and functional expertise had comprehensive and in-depth proposals.
As it is in most cases, the winning team stood out from other teams and they were justly rewarded with copies of the Harvard Business Review book “Building your Business Case” as the prize.
Aligning with Strategy:
As mentioned above, business cases can be tricky. The key is showing a strong understanding of the company’s direction of travel. So aligning your business case to the company’s strategy can act as the deciding factor in getting the go ahead.
Brownsover Green helps organisations to develop strong business cases. We train employees in writing good business cases so the senior managers can take effective decisions. We also work with you to develop a business case whether you are pitching to an investor or a major client. Contact us to see how we can help you.