In the context of a business plan, a management plan is a high level plan for the direction and control of an organization. The following are examples of elements that can be included in a management plan.
Management TeamA brief biography of the executive management of the organization or unit.
A proposed organizational chart. For a small startup that aims to be innovative this may be a flat structure with all reporting lines leading to the CEO.It is also common to list names for each position and to note unfilled positions with TBD.
Governance TeamThe individuals who will serve on your board of directors or advisory board. A board of directors has a fiduciary duty to protect the interests of investors and is the stronger form of governance. An advisory board is an informal structure that offers "advice." In some cases, governance is imposed on you by investors such that this need not be included in your business plan.
Management ResourcingA description of current gaps in your management resources and your plan to recruit a management team. This can take the form of an action plan.
Performance & CompensationA description of your performance management and compensation processes, practices and policies. The goal is to show a degree of organizational maturity in tying compensation to performance whereby a formal performance review process occurs and this is visible to your governance structures. Likewise, the plan may communicate that governance will review and approve performance based compensation.
NotesThe examples above are illustrative and fictional. Any similarities to real people or organizations is coincidental and unintended.
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