example of management in a business plan

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How to Write a Management Plan

Last Updated: September 22, 2024 Fact Checked

This article was co-authored by Madison Boehm . Madison Boehm is a Business Advisor and the Co-Founder of Jaxson Maximus, a men’s salon and custom clothiers based in southern Florida. She specializes in business development, operations, and finance. Additionally, she has experience in the salon, clothing, and retail sectors. Madison holds a BBA in Entrepreneurship and Marketing from The University of Houston. There are 9 references cited in this article, which can be found at the bottom of the page. This article has been fact-checked, ensuring the accuracy of any cited facts and confirming the authority of its sources. This article has been viewed 251,469 times.

A management plan describes how an organization or business is run. Writing a management plan allows you to formalize your management structure and operations. It also ensures that everyone is on the same page and that your goals will be accomplished. You can easily write your own management plan with a few simple steps.

Management Plan Outline and Example

Starting Your Management Plan

• Defining roles also creates accountability by making it clear who's fault it was that something did or did not happen. [3] X Trustworthy Source Kansas University Center for Community Health and Development Community-based research center focused on supporting public health development and education Go to source

• A section detailing management members and their responsibilities and authorities.
• A chart of section detailing interactions between and responsibilities of each level of the organization.
• A section explaining different aspects of your organization being managed and the policies and procedures of that management.
• A schedule for updating, enhancing, and growing management and the management plan. [6] X Research source

Describing Ownership and Management

• Include a copy of board policies, including election policies, term length, responsibility, authority, and conflict resolution. This information should already be stated in your operating agreement or other founding documents.

• List past positions and duties of each member that apply to their current management obligations. Explain how these obligations highlight applicable skills and strengthen the management positions.
• Highlight all relevant educational backgrounds for each of the managers. Explain how their training will benefit the company. Only include the education that is relevant to the positions that they currently hold.
• If you are the only employee in your business, be sure to include your own experience and strengths.

• Accountants.
• Insurance brokers.
• Consultants.

• For example, “Our team, with its diverse array of skills, have a combined forty years of experience in this field. With our coordinated democratic structure, they can work together effectively to produce results. With this team, we are confident that our business will become profitable in two years.”

Writing Out Policies and Procedures

• For example, a policy might be using and selling only green materials and products. The procedures to support that policy might be shopping from approved green vendors or checking the environmental impact of each material or product used.

Revising Your Plan

• When they approve, have all owners sign the plan before you submit it to your investors, bank, or fundraising bodies.

• Make sure there is a way for all management and employees to submit their feedback regarding the plan.
• Then, create a method by which changes to the plan can be approved and instituted. [20] X Trustworthy Source Kansas University Center for Community Health and Development Community-based research center focused on supporting public health development and education Go to source

Expert Q&A

• Many investors will read the management section of your business plan before any other section, including marketing and finances, so you want to make sure that you have the best proposal possible. Thanks Helpful 0 Not Helpful 0

• Do not neglect your management plan in favor of your financial plans. Both are equally important to a business plan. Thanks Helpful 0 Not Helpful 2

You Might Also Like

• ↑ Madison Boehm. Business Owner and Advisor. Expert Interview. 24 August 2021.
• ↑ http://ctb.ku.edu/en/table-of-contents/leadership/effective-manager/management-plan/main
• ↑ https://www.brown.edu/research/conducting-research-brown/preparing-proposal/proposal-development-services/writing-management-plan
• ↑ https://www.thebalance.com/how-to-write-the-management-summary-2951561
• ↑ https://open.lib.umn.edu/humanresourcemanagement/chapter/4-1-the-recruitment-process/
• ↑ https://www.entrepreneur.com/article/241072
• ↑ https://writingcenter.unc.edu/tips-and-tools/editing-and-proofreading/
• ↑ http://www.businessnewsdaily.com/4533-business-plan-outline.html

About This Article

The best way to write a management report is to describe the company’s management structure in 10 to 20 pages. Name the board members and explain the company’s ownership policies. Introduce all management members and present the strengths of each team member. Then, write out workplace policies and procedures. Send the management report to the company’s bank, investors, or fundraising bodies. For more tips from our Financial Reviewer, like how to outline, format, and revise your plan, read on! Did this summary help you? Yes No

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How To Write the Management Section of a Business Plan

Susan Ward wrote about small businesses for The Balance for 18 years. She has run an IT consulting firm and designed and presented courses on how to promote small businesses.

Ownership Structure

Internal management team, external management resources, human resources, frequently asked questions (faqs).

When developing a business plan , the 'management section' describes your management team, staff, resources, and how your business ownership is structured. This section should not only describe who's on your management team but how each person's skill set will contribute to your bottom line. In this article, we will detail exactly how to compose and best highlight your management team.

Key Takeaways

• The management section of a business plan helps show how your management team and company are structured.
• The first section shows the ownership structure, which might be a sole proprietorship, partnership, or corporation.
• The internal management section shows the department heads, including sales, marketing, administration, and production.
• The external management resources help back up your internal management and include an advisory board and consultants.
• The human resources section contains staffing requirements—part-time or full-time—skills needed for employees and the costs.

This section outlines the legal structure of your business. It may only be a single sentence if your business is a sole proprietorship. If your business is a partnership or a corporation, it can be longer. You want to be sure you explain who holds what percentage of ownership in the company.

The internal management section should describe the business management categories relevant to your business, identify who will have responsibility for each category, and then include a short profile highlighting each person's skills.

The primary business categories of sales, marketing , administration, and production usually work for many small businesses. If your business has employees, you will also need a human resources section. You may also find that your company needs additional management categories to fit your unique circumstances.

It's not necessary to have a different person in charge of each category; some key management people often fill more than one role. Identify the key managers in your business and explain what functions and experience each team member will serve. You may wish to present this as an organizational chart in your business plan, although the list format is also appropriate.

Along with this section, you should include the complete resumés of each management team member (including your own). Follow this with an explanation of how each member will be compensated and their benefits package, and describe any profit-sharing plans that may apply.

If there are any contracts that relate directly to your management team members, such as work contracts or non-competition agreements, you should include them in an Appendix to your business plan.

While external management resources are often overlooked when writing a business plan , using these resources effectively can make the difference between the success or failure of your managers. Think of these external resources as your internal management team's backup. They give your business credibility and an additional pool of expertise.

Advisory Board

An Advisory Board can increase consumer and investor confidence, attract talented employees by showing a commitment to company growth and bring a diversity of contributions. If you choose to have an Advisory Board , list all the board members in this section, and include a bio and all relevant specializations. If you choose your board members carefully, the group can compensate for the niche forms of expertise that your internal managers lack.

When selecting your board members, look for people who are genuinely interested in seeing your business do well and have the patience and time to provide sound advice.

Recently retired executives or managers, other successful entrepreneurs, and/or vendors would be good choices for an Advisory Board.

Professional Services

Professional Services should also be highlighted in the external management resources section. Describe all the external professional advisors that your business will use, such as accountants, bankers, lawyers, IT consultants, business consultants, and/or business coaches. These professionals provide a web of advice and support outside your internal management team that can be invaluable in making management decisions and your new business a success .

The last point you should address in the management section of your business plan is your human resources needs. The trick to writing about human resources is to be specific. To simply write, "We'll need more people once we get up and running," isn't sufficient. Follow this list:

• Detail how many employees your business will need at each stage and what they will cost.
• Describe exactly how your business's human resources needs can be met. Will it be best to have employees, or should you operate with contract workers or freelancers ? Do you need full-time or part-time staff or a mix of both?
• Outline your staffing requirements, including a description of the specific skills that the people working for you will need to possess.
• Calculate your labor costs. Decide the number of employees you will need and how many customers each employee can serve. For example, if it takes one employee to serve 150 customers, and you forecast 1,500 customers in your first year, your business will need 10 employees.
• Determine how much each employee will receive and total the salary cost for all your employees.
• Add to this the cost of  Workers' Compensation Insurance  (mandatory for most businesses) and the cost of any other employee benefits, such as company-sponsored medical and dental plans.

After you've listed the points above, describe how you will find the staff your business needs and how you will train them. Your description of staff recruitment should explain whether or not sufficient local labor is available and how you will recruit staff.

When you're writing about staff training, you'll want to include as many specifics as possible. What specific training will your staff undergo? What ongoing training opportunities will you provide your employees?

Even if the plan for your business is to start as a sole proprietorship, you should include a section on potential human resources demands as a way to demonstrate that you've thought about the staffing your business may require as it grows.

Business plans are about the future and the hypothetical challenges and successes that await. It's worth visualizing and documenting the details of your business so that the materials and network around your dream can begin to take shape.

What is the management section of a business plan?

The 'management section' describes your management team, staff, resources, and how your business ownership is structured.

What are the 5 sections of a business plan?

A business plan provides a road map showing your company's goals and how you'll achieve them. The five sections of a business plan are as follows:

• The  market analysis  outlines the demand for your product or service.
• The  competitive analysis  section shows your competition's strengths and weaknesses and your strategy for gaining market share.
• The management plan outlines your ownership structure, the management team, and staffing requirements.
• The  operating plan  details your business location and the facilities, equipment, and supplies needed to operate.
• The  financial plan  shows the map to financial success and the sources of funding, such as bank loans or investors.

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Step 1: Determine the Purpose of the Plan

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How to Write Management Team Section in Business Plan

Written by Vinay Kevadiya

Published Oct. 9 2024 · 11 Min Read

Building and aligning a solid management team is crucial for every business’s success.

Steve Jobs once said, " Great things in business are never done by one person; they're done by a team of people ."

Therefore, to succeed in your business, you must plan it with a strong focus on your management team.

A strong management team not only contributes to your business success but helps you secure funding from investors and communicate clear intentions to stakeholders regarding your goals.

But what exactly is the management team in a business plan? What is its importance? How do you write a management team in a business plan? Well, you will get all the answers in this blog.

Let’s get started.

What is a management team in a business plan?

Management team in a business plan is a section that outlines the main responsibilities of operational teams, key managers, and employees for leading the company toward its desired goals.

The purpose of including the management team in a business plan is to:

• Identify management team gaps
• Highlight management team members
• Showcase the relevant experience and expertise of each member
• Demonstrate how the team’s skills align with the company’s objectives
• Illustrate the team's ability to adapt to challenges and seize opportunities

Moreover, this management section, highlighting the management team, builds confidence in potential investors and stakeholders by showcasing the company's ability to execute its strategies and succeed.

Why is the management team section important for a business plan?

A well-defined management team provides a solid foundation for effective decision-making and strategic guidance that helps your business to achieve its desired goal.

Here are some more reasons that make a management section crucial in a business plan:

Cultivates investor confidence

69% of venture capitalists say they won't invest in a new business without first reviewing its business plan .

This means investors don’t just focus on your idea—they want to know if your team can successfully execute the plan.

A capable management team assures them that the business can navigate challenges and seize opportunities efficiently. Such confidence boosts their trust in your business, making it more likely that they will invest.

Streamlines strategy execution

A management team with skilled and experienced executives paves the way to your goals more smoothly.

Their expertise enables them to execute your business strategy effectively, helping you achieve your desired outcomes efficiently.

Additionally, their knowledge and experience equip your business to handle challenges that arise during strategy execution. They also can turn setbacks into opportunities.

Provides clear direction

A well-defined management team provides clear leadership and direction. This clarity ensures that everyone in the organization understands their roles and goals.

A clear and right direction benefits your business by:

• Enabling easy execution of business plans
• Offering a clear understanding of the business structure and key members
• Improving team alignment towards common objectives
• Enhancing decision-making processes across the organization
• Streamlining communication between departments
• Promoting accountability and ownership within the team

Manages risk efficiently

Business plans are designed to minimize risks and ensure smooth operations. Including a management team in your business plan can help reduce your business's risks.

An experienced team can spot potential challenges and create strategies to overcome them. Importantly, the management team is also valuable in predicting upcoming risks, which helps your business prepare to tackle them effectively.

Foster team cohesion

A successful business thrives on collaboration and unity. When your team is aligned and working towards the same goals, it increases the chances of achieving success more quickly.

That’s why Helen Keller famously said, “Alone, we can do so little; together, we can do so much.” By including the management team section in the business plan, you foster team cohesion, which ultimately benefits your business with:

• More productivity
• Enhance collaboration
• Quick solution to challenges
• Right execution of the business plan

How to write the management team section of a business plan?

To write a management team section in a business plan, go through the following step-by-step process:

Step 1: Team introduction

Start by introducing your internal management team and key players who will lead your business. Include the names of the core team members, such as board members, managers, HRs, sales head, and department heads.

Provide a brief overview of their background, showcasing their qualifications and areas of expertise that will support the company’s goals. Moreover, you should also include following aspects in the introduction section:

• Name and position
• Job description
• Brief background and relevant experience

Step 2: Role clarity

Define the specific roles and responsibilities of each management team member. Doing so ensures that stakeholders understand who is responsible for which areas of the business.

Further, the clear role of each member defines how they contribute to the company's objectives and work towards achieving business objectives. Make sure you include the following aspects in your role clarity section:

• Specific responsibilities
• Key contributions to business objectives

Step 3: Showcase expertise

Highlight the experience, qualifications, and key achievements of each management team member. This demonstrates the capability of your team and how their skills align with the business strategy.

Showcasing their experience and expertise demonstrates their capabilities to stakeholders, which strengthens their confidence in the team’s ability to drive growth and navigate challenges.

Here’s what you can add in the expertise section:

• Professional experience
• Relevant qualifications and skills
• Educational background
• Notable achievements

Step 4: Include organizational structure

Present your company’s hierarchy to illustrate how decisions are made and how each department functions.

Including an organizational chart helps readers understand the reporting structure and the flow of decision-making authority.

You can include:

• An organizational chart that provides overview of team
• Reporting structure
• Explanation of decision-making authority

Step 5: Describe team collaboration

Outline how the management team works together to achieve business goals. Highlight tools or platforms used for collaboration, communication methods, and the regularity of meetings.

This highlights the role of teamwork in the company’s success. Additionally, explaining team collaboration to stakeholders instills confidence that everyone is aligned and working towards common goals.

You should include:

• Which communication tools you’re using (e.g., Slack, Microsoft Teams)
• Collaboration methods
• Regular meetings or review processes

Step 6: Exhibit achievements

Highlight the major accomplishments of the management team. This includes awards, recognition, completed projects, or case studies that show your team’s ability to execute plans effectively.

Exhibiting achievements will ensure your team has experience working in the same field and has the capability of bringing results. You can include:

• Awards or recognitions
• Major projects or milestones
• Success stories

To demonstrate your achievement and impress your stakeholders.

Step 7: Showcase identified gaps

Include identified gaps in your management team section in a business plan and explain how you plan to address them. This shows foresight and preparedness, especially if you plan to hire new talent.

Demonstrate the following aspects to showcase your gaps:

• Missing roles or skills
• Plan to fill gaps (e.g., recruitment or external support)
• Timeline for addressing gaps

Step 8: Include your long-term vision

Outline how your management team will contribute to the long-term success and growth of the business. Discuss strategic goals and the role of the management team in achieving these milestones.

Here’s what you can include:

• Strategic goals
• Growth roadmap
• Role of the team in future success

The steps to write the management team section in a business plan concludes here. Remember, following these steps ensures you present a strong, well-structured team to stakeholders.

However, if you need help with including a company overview in a business plan, check out our blog that outlines effective ways to write a company overview in a business plan .

Example of a strong management team section in a business plan

Management team of freshserve—food delivery app.

FreshServe's management team combines experience, strong educational background, industry expertise, and leadership. Below is an overview of our internal and external teams.

Internal Management Team

1. CEO (Chief Executive Officer) – Sarah Mitchell

Responsibilities: Oversees overall company operations, sets strategic direction, and leads expansion efforts. Manages investor relations and drives key business partnerships.

Qualification: MBA, Harvard Business School

Experience: 15 years in tech startups, including leading a food tech startup that was successfully acquired.

Achievement: Expanded previous startup to 10 cities within 2 years, driving $100M in annual revenue.

2. COO (Chief Operating Officer) – David Lee

Responsibilities: Manages daily operations, logistics, and ensures the smooth execution of FreshServe's food delivery services. Oversees customer service and logistics teams.

Qualification: BS in Operations Management, University of California, Berkeley

Experience: 12 years in operations and logistics management in food delivery and e-commerce.

Achievement: Scaled logistics operations of a delivery company, achieving a 98% on-time delivery rate.

3. CMO (Chief Marketing Officer) – Laura Garcia

Responsibilities: Leads all marketing, branding, and customer acquisition efforts. Develops growth strategies, digital marketing campaigns, and partnerships with restaurants.

Qualification: BA in Marketing, Stanford University

Experience: 10 years in digital marketing, previously working with a major food delivery service.

Achievement: Increased user base of previous employer by 300% in 18 months through targeted digital campaigns.

4. CTO (Chief Technology Officer) – Raj Patel

Responsibilities: Oversees all technological development, including mobile app development, software updates, and security. Manages the tech team and ensures a seamless customer experience.

Qualification: MS in Computer Science, MIT

Experience: 14 years in software development and app creation, specializing in food tech and delivery systems.

Achievement: Led the development of an AI-powered logistics system that reduced delivery times by 25%.

5. CFO (Chief Financial Officer) – Lucas Daniels

Responsibilities: Responsible for managing company finances, including budgeting, forecasting, and financial planning. Oversees investor relations and capital raising efforts.

Qualification: MBA, CFA certification

Experience: 10+ years in financial management, particularly with high-growth tech startups.

Role in FreshServe: Will manage financial strategy and ensure financial sustainability as FreshServe expands. A CFO with experience in scaling tech-based companies is ideal for this role.

6. Product Manager – Emily Turner

Responsibilities: Leads the product development and innovation process for the FreshServe app. Ensures customer feedback is integrated into product updates and improvements.

Qualification: BS in Product Management, University of Michigan

Experience: 7 years in product management, particularly in tech startups.

Achievement: Launched two successful app updates that improved user retention by 40%.

Organization Structure

Here’s the breakdown of organizational structure of FreshServe, including its decision-making hierarchy:

1. Sarah Mitchell (CEO):

• Leads the company and oversees all the departments. Everyone in the organization ultimately reports to the CEO.

2. Raj Patel (CTO):

• Reports to Sarah Mitchell (CEO).
• Oversees technology and product development.
• Emily Turner (Product Manager) reports directly to Raj Patel.

3. David Lee (COO):

• Manages day-to-day operations and logistics.
• James Morris (Logistics Manager) reports directly to David Lee.
• Rachel Brown (Customer Service Representative) reports to James Morris.

4. Laura Garcia (CMO):

• Handles marketing and customer acquisition.
• John Anderson (Social Media Manager) reports directly to Laura Garcia.

5. Lucas Daniels (CFO):

• Manages financial planning, budgeting, and investor relations.

External Management Team (Advisory Board)

1. Jessica Adams – Legal Advisor

Responsibilities: Provides legal and strategic guidance on contracts, intellectual property, and regulatory compliance, ensuring FreshServe adheres to all legal standards.

Experience: 18 years in corporate law, specializing in tech startups and M&A.

2. Michael Carter – Financial Advisor

Responsibilities: Assists with financial planning, investment strategies, and capital raising efforts. Advises on budgeting, cash flow, and investor relations.

Experience: 20 years in finance, former CFO at MealFast.

3. Angela Wright – HR Consultant

Responsibilities: Guides on building the internal HR structure, hiring strategies, and employee retention programs. Ensures the company attracts and retains top talent.

Experience: 15 years in human resources management, specializing in tech startups.

Wrapping up

We've covered everything you need to know about the management team section of a business plan.

So, if you’re planning to write a business plan, include the key elements we've discussed in the blog to impress your stakeholders or investors and showcase your team effectively.

Remember, the management team is just a section of a business plan, and you need a complete business plan for success. You can rely on Bizplanr , an AI business plan generator to craft an excellent business plan.

By answering a few questions, you can design your business plan in minutes; from the management team to the conclusion, this platform will design the business plan that will provide tangible results.

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Frequently Asked Questions

What should be included in the management team section?

Include team members’ names, roles, qualifications, experience, and achievements. Highlight their responsibilities and how they contribute to the business’s success.

How do you structure a management team?

Structure the team based on key roles such as CEO, CTO, COO, and department heads like marketing, sales, and finance. Each role should have clear responsibilities aligned with company goals.

What is the role of a management team?

The management team oversees the company's day-to-day operations, strategic planning, and execution to achieve business goals.

What is the company's management team profile?

It summarizes the key executives, their backgrounds, and how their skills and experience contribute to the company’s success.

What’s the difference between a management team and an advisory board?

The management team handles daily operations and strategy execution, while advisory board members offer external guidance and expertise but don't manage day-to-day tasks.

What if my business lacks experienced management?

Address this by hiring experienced consultants and advisors or seeking external partners. Emphasize the skills and potential of the existing team and outline plans for filling gaps.

As the founder and CEO of Upmetrics, Vinay Kevadiya has over 12 years of experience in business planning. He provides valuable insights to help entrepreneurs build and manage successful business plans.

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