Summarises long-term business strategy & defines operational processes.

Risk assessment provides clarity, helps with decision-making & increases the chances of long-term business success.

Assesses competitors & analyses the industry and the market.

Forecasts future business demands & ensures consistent quality.

Analyses, forecasts and secures financing.

Summarises and further defines different entrepreneurial areas, such as marketing, HR, finance, IP, R&D, and manufacturing.

Helps with organising resources.

It is essential for quantifying business profitability, optimising business strategy, monitoring progress, identifying strengths and weaknesses, exploring and identifying growth opportunities & with making future business decisions.

Using various tools and methods, the aim of financial analysis and health economics is to evaluate the current and future economic health and trends, to monitor performance over time, to set financial protocols, and to, among other things, build long-term plans for business activities.

Outlines how to introduce a product to the market and reach target audience.

It defines, among other aspects, value proposition, positioning, pricing, distribution channels, and launch strategy.

It is usually developed before product introduction to the market, and it is designed to align with business goals and vision.

Provides detailed target market assessment and competitive landscape picture within a specific industry.

It analyses brand success projection & opportunities and risks.

It quantifies market size, prices consumers are willing to pay and revenue projections, while qualitatively outlining consumers’ values, desires, and buying motives. 

Market analysis is an important component of a business plan—as well as it can be conducted independently.

It covers aspects, such as branding, messaging, content, media advertising channels, metrics and performance.

It serves as a model for promotion and generating a demand.

As part of the business plan, it indicates business goals and ways to achieve them.

It is a process of extracting information from research and development activities-generated data.

By different tools, methods and data characteristics, it helps to optimise innovation, validate, test and generate new hypotheses and communicate results.

It involves describing the data features, calculate and present statistics descriptively, and compare different variables.

It is an imperative factor in merging together all the above areas by signalling product safety and compliance with regulatory requirements.

It warrants that safety and quality standards are met before product launch, and that such is retained consistently over time.

The speed of market entry largely depends on detailed preparation of the required conformity assessment by notified bodies and competent authorities.

Access to funding plays an integral role for small and medium-size companies in realising their product development plans.

Different types of funding create careers with granting researchers to conduct research and publish relevant journal publications. Consequently, new products may be developed and patients’ quality of life improved.

Strategic planning sets objectives with considering both, internal and external environment to design, implement, analyse and adapt strategies to gain competitive advantage.

Strategic management refers to managing resources to achieve organisational goals and objectives successfully.

A strategic vision requires monitoring global trends, the competitive landscape and stakeholder expectations. Once a company knows its mission, it can allocate the right resources to achieve that plan. By making strategic decisions and a commitment to strategic planning, companies can strengthen their competitive position in the long term, improve financial gains, as well as increase employee motivation.