business plan

Examples of business plan in the following topics:

• The Business Plan

  • A business plan is a formal statement of a set of goals, the reasons they are believed attainable, and the plan for reaching those goals.
  • A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals.
  • If the company is seeking funding, the business plan gives potential investors an understanding of your proposed business and the money required.
  • The following categories are important inclusions in any business plan:
  • Business Plan Executive Summary: The executive summary is a snapshot of your business plan as a whole and touches on your company profile and goals.

• Operations: the logistical rim on the wheel

  • Operations in a startup begin with the composition of a business plan.
  • Business plans are usually written to obtain financing for a new venture.
  • Executive Summary which goes at the beginning of your business plan but is often written last should contain a brief summary of each of the above mentioned business plan sections.
  • After you have completed drafting your new venture's business plan it may be time to establish the legal entity of your business.
  • With a draft business plan in hand and your legal company business entity established it's time to fully map out the operations/processes you plan to utilize to implement your business plan.

• Identify your information systems needs

  • In Chapter 1, and elsewhere in this book, we have emphasized the value of having a formal business plan to guide the organization.
  • Many organizations take their business plan down another level and have formal plans for individual departments, such as sales and marketing, operations, and human resources.
  • plans of individual organizational units developed in support of the organization's plan
  • Once a plan is agreed, it is implemented.
  • Most organizations find it useful to update the plan yearly at least as business and technical issues can change quickly.

• Employee Retirement Income Security Act

  • Businesses who voluntarily set up pension and health plans in private industry must adhere to rules ERISA rules that protect employees.
  • ERISA also does not cover plans maintained outside the United States primarily for the benefit of nonresident aliens or unfunded excess benefit plans
  • Requires plans to provide participants with plan information including important information about plan features and funding.
  • Requires plans to establish a grievance and appeals process for participants to get benefits from their plans.
  • His bill was opposed by business groups and labor unions, that sought to retain the flexibility they enjoyed under pre-ERISA law.

• The Impact of Business Owners on Success and Failure Rates

  • As the creator, organizer, and manager of a business, a business owner is critical to the success or failure of a given venture.
  • The first thing a business owner needs is a plan that lays out the strategy of their organization.
  • Combining the core importance of the business owner in the creation of the business and the variety of skills business owners can leverage to achieve success, business owners are often enough the primary influence on a small business' potential success (and potential failure).
  • Business owners with a strong strategic ability to plan, highly developed interpersonal skills, key industry skills/knowledge, and the willingness to take risks and be accountable are poised for the highest rates of success in small business ventures.
  • Recognize the significant impact a business owner has on the success of a small business

• Planning and Decisions

  • In the short run, planning is easy to postpone.
  • SWOT is a structured planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture.
  • Top managers normally provide a vision for the business.
  • It is concerned with scope of the business and what distinguishes this business from similar businesses.
  • A budget is an example of a financial plan that formalizes strategic plans in monetary terms.

• Putting the Plan to Work

  • Any decision will get four benefits out of planning:
  • Planning establishes independent goals.
  • Planning provides a standard of measurement.
  • Planning converts values to action.
  • You think twice about the plan and decide what will help advance your plan best.

• Developing Alternate Plans of Action

  • Planning also makes decision making much simpler .
  • Planning establishes independent goals.
  • Planning provides a standard of measurement.
  • Planning converts values to action.
  • You think twice about the plan and decide what will help advance your plan best.

• Socialism and Planned Economies

  • A planned economy is a type of economy consisting of a mixture of public ownership of the means of production and the coordination of production and distribution through state planning.
  • Economic planning in socialism takes a different form than economic planning in capitalist mixed economies.
  • In socialism, planning refers to production of use-value directly (planning of production), while in capitalist mixed economies, planning refers to the design of capital accumulation in order to stabilize or increase the efficiency of its process.
  • Enrico Barone provided a comprehensive theoretical framework for a planned socialist economy.
  • The command economy is distinguished from economic planning.

• Evaluating results

  • No marketing program is planned and implemented perfectly.
  • In an effort to ensure that performance goes according to plans, marketing managers establish controls that allow marketers to evaluate results and identify needs for modifications in marketing strategies and programs.
  • Finally, to the extent that discrepancies exist between actual and planned performance, adjustments in the marketing program or the strategic plan must be made.
  • Once a plan is put into action, a marketing manager must still gather information related to the effectiveness with which the plan was implemented.