Description
Course Summary
New products are the backbone of sustainability and growth; however, they are also a massive risk if they are underprepared. They can present an enormous cost penalty to a business and must be sold with skill and persuasion. Therefore to ensure success, the justification must be clearly defined within a business case to bring the approval and support of the investors, management executives and senior staff and even your colleagues. It may seem daunting, but you need to be able to sell your idea if you want it to be the project that gets chosen from many that are also competing for success.
Business case writing is a skill that uses tried and tested formats along with persuasive language to create a logical document that cannot be rebutted. In order to give your product the best chance for success, it must address all issues and use the appropriate language. In this course, delegates will learn all of these skills, including the components that need to be included to ensure you can win the approval of the audience.
Course Objectives
- To be able to construct and write a business case that engages and convinces others that the new product idea will sell
- To be able to explain the purpose of a business case for new products
- To be able to garner support for new products using persuasive business case documents
- To be able to understand the recipients of the business case and ensure that the language used appeals to them.
- To be able to use research to determine the most impactful factors to use when building a business case.
- To be able to show justification from a market point of view for the new product.
- To be able to identify the core issues in support of the business case
- To be able to explain the viability of the business case
- To be able to justify the product and the business case
- To be able to confidently present the business case using persuasive language
Course Content & Outline
1- Business Case and Assessors
- What makes a good business case?
- Knowing what to include in the content and why it matters
- Who are the assessors?
- Getting to know the assessors and how they think
- Covering the things that matter to the assessors in the business case
2- Product Success and Market Challenges
- Market challenges – how to mitigate them in the business case
- The superior value test that customers use: willingness to pay
- The balancing act – sustainability v profitability
- Ensuring that the business case has proven credibility
- Establishing the potential chance of success
3- The Product Fit Within the Organisation
- An organisation’s value chain and the new product impact
- Can you prove a strategic fit with the business case
- How can we define the critical factors for success?
- What are the potential outcomes of the product?
- Creating a successful outline strategy
4- Business Case Writing, Resource and Justification
- Resources and investment – how to justify and clarify
- Coping with specified changes
- The formal structure of the written business case
- Presenting a proper business case
- Making your business case professional and persuasive
Who is this training for?
- R&D managers
- Marketing directors
- Business development managers
- Product managers
- Product development teams
- Finance directors
- Business owners and inventors
- Anyone looking to upskill for future career prospects
Training Methodology
Teaching takes place in a variety of settings including face to face in a classroom environment and will ensure that participants can expand their knowledge of the subject and increase their skill set. The course is delivered via various methods by a specialist tutor. This will include PowerPoint presentations, reviewing articles and other relevant materials, group or individual exercises and discussions. There may be some independent work set, and the course will involve a requirement to submit articles to demonstrate understanding and an end of course test. Note-taking is encouraged, and you are welcome to use electronic devices to do this.
The course manual will form part of the learning but give you references for the future. You are encouraged to ask questions and, if needed, spend time one to one with your tutor to go over any issues. During your time in the classroom, you will be able to network with peers in similar roles.
