The Usage of Modern Instruments of Business Planning Administration for Small Enterprises: A Case Study Analysis

Abstract

Small and medium-sized enterprises are an important part of the economy of every country. These enterprises operate in a highly competitive environment and are especially exposed to rapid changes in the business environment. Therefore, one of the most important issues which they face is effective business planning (BP), especially in relation to the projects which they carry out. This is because business planning provides an opportunity to take the risks inherent in the activities of an enterprise into account and providing coordination of the production and economic processes. Given these facts, our study analyses the process of business planning administration in small enterprises. Its main aim is to develop methodological recommendations for the administration of business planning processes through the utilization of innovative tools. It should simplify the business planning of projects and make it more relevant and effective. The administration of business planning is presented as a complex process which is modelled with the utilization of a roadmapping approach. We suggest using the business canvas as one of the milestones of the model, which is especially suitable for the visualization of future business plans. A single case study analysis based on the private company Gal-Exim PC and its innovation project planning was chosen as the research method. The company's core business and main innovation projects are in sphere of commercial real estate operations. Our analysis confirmed that the proposed model may be regarded as an effective instrument of BP in small enterprises. It has a universal nature and therefore may be utilized in other companies as well.Implications for Central European audience: Our study is based on the most modern world trends and practical research in sphere of business planning. The proposed model has a universal nature and may be easily implemented in any European small or medium-sized companies. The proposed roadmap of business planning administration includes instruments which are accessible and may be used by companies regardless of the region. We deliberately based our analysis on the company which provides a variety of innovative projects with utilization of European and world trends in sphere of commercial real estate operations, thus we assume that the suggested study may make a positive contribution to the Central European business environment generally.