Many good business ideas begin with a walk into the unknown—some never see the light of day, and others stumble along aimlessly. The reason for this is because the true scope, time scale, cost and business benefits hidden within the idea have never been clearly or precisely defined.
A well-written and thoroughly researched business case captures the information, facts and evidence needed to convince key decision makers of the merits of taking a particular course of action.
For example, a key member of the sales department has spotted a need for the organization to urgently upgrade its customer data, as one of the key competitors has already implemented this upgrade. To ensure the proposition is worth doing, a well-structured, compelling business case is needed to produce the evidence necessary to support the assumptions.
A strong business case explains and identifies all the possible options to address the problem. It provides a full background of facts and evidence necessary for decision makers to determine the course of action that is most beneficial for the organization.
Creating a compelling and effective business case requires critical thinking. Its development is a value-adding activity that comprises four major elements:
Full understanding of the scope, costs, and resources the proposition entails
Identification of the benefits derived from making the proposition a reality
Precise identification of the risks that may occur during the course of the proposed course of action
Exact capture of the reasoning that supports the proposition to maximize results and minimize risks
Whether it is for a simple or a more complex and costly proposition, there is no substitute for careful planning and extensive investigation. Hone your business case writing skills, iron out the risks, and smooth out the loopholes before the journey to ensure the ride becomes more comfortable, beneficial, and worthwhile.
The Accenture Academy course Creating a Compelling Business Case defines the elements involved, recognizes the skills and resources needed, and lists the steps that direct the business case process to a successful outcome.
Accenture Academy offers proven, cost-effective learning solutions for a more versatile workforce and a more agile organization. We provide a flexible learning approach that helps your people be more versatile and your entire organization be more agile in the marketplace. Curriculum includes Supply Chain Management, Finance, Procurement, Analytics, Leadership & Management and Specialty Skills.