Btec First Diploma Unit 16

The business plan is an ideal place to clarify who is responsible for what. Every important task should have one person in charge. Your plan keeps track.

Businesses exist to produce goods and services. If someone is thinking of starting up their own business or becoming part of an existing business, they would have to have the knowledge of what makes business work successfully and know how to how to apply that knowledge in the particular area of business. For this unit I will be entering and exploring the world of business. For this unit I will encounter and evaluate information provided by certain businesses and actually gather my own information from at least one business. The business I have chosen to study is J Sainsbury’s.

Starting a new/ successful business can be one of the hardest things that a person can do in their life. The business can come second to nothing in life , not even your family. This is often where people make the mistake and get in to deep. Planning is just the beginning but is the most important

The business plan of any organization occurs once a successful strategic plan is securely in place. The strategic plan details where the organization seeks or desires to be in the future. "The strategic plan is a foreseen view of where the organization is going" (Hillestad & Berkowitz, 20034, p. 32). In a nutshell, a strategic plan tells of things to come and how to attain the business or how to view the vision, mission, and goals of a specific organization. A strategic plan also discovers what other organizations might be in your business area. Once a business is established and the business plan has poured in enough money to

After doing an analysis of your skills, you can then determine which business is right for you. If you like working with people, you would not be happy with a job working on a machine in an area where there is no contact with the public. If you want more control in your life, then you probably would not be happy in a partnership. Do you consider yourself a morning or night person? If you like working at nights, then a 24-hour copying business would be appropriate for you.

A strategic business plan will help the organization define its mission and vision, giving the organization a sense of purpose and direction. In addition a strategic plan will help the organization asses its strengths and weaknesses, and develop short-term strategies that are compatible with long-term objectives. A strategic plan will balance the use of resources, people, structures, and technologies in order to achieve company goals with the least amount of risk. . Planning is used as a tool to help identify potential opportunities and threats as well as to reduce long-term

1. “Audience & Funding Type: When writing a business plan, you must determine who will be reading it. This decision will shape the business plan. Do you plan to go for debt or equity financing? Each form of funding for your business has pros and cons. For instance, the venture capital market can be very time consuming and competitive. Do you have the time to write the business plan for investor funding and to network within the community? Writing a business plan for investors is 15-30

A strategic plan is not a business plan. A strategic plan focuses on long-term goals and outlines the basic actions for achieving them

When you started your own business, the startup need organizational structures that combat the extremely uncertainly that is a startup chief enemy. If you know exactly what you will do, and what you will lose, you will have a chance to decide your destiny. A good business plan will make you survive in the early business.

The business plan will help to give the business focus. The size and structure of the business will determine how in-depth a business plan needs to be. For most small business just starting out it will only need to be 5 to 10 pages. A business plan will include a mission statement, an overview of the business, products and services being offered, who will be involved with the business, a financial plan, and a projection of

Business plans are necessary for growth and success of companies. As cited in Scott (n.d.), "a strategic business plan is a written document that pairs the objectives of a company with the needs of the marketplace. The plan allows businesses to focus on a particular niche in the marketplace, which makes sales, advertising and customer management more effective.” The plan helps businesses evaluate its strengths and weaknesses and provide better service to its clients.

First I would like to talk about the meaning of a business plan, and the importance of it. Turban defined a business plan as “a written document that identifies a company’s goals and outlines how the company intends to achieve the goals and at what cost.” I business plan is obviously a formal statement of the business goals, explanations of why they are adaptable, and plans for accomplishing them. It may also contain background information about the organization or team attempting to reach those goals. A business plan is important for an any type of business and any size, it provides the steps the business would take, gives a future look on is will happen, encourage financers, and team members, and eventually it helps in managing the company.

Having a business plan is the best way for any manager to begin their business as the article implied. Our class textbook (p. 136) talked about planning as a way of setting goals and determining which way will work best to achieve them. That for me describes exactly what plan for business should be. Business plans takes all the guessing

The business world as grown intensely competitive and increasing diverse in the options provided to consumers. As an entrepreneur seek to embark on a new endeavor, it is exceedingly important to have a business plan in place. A well written business plan can serve many purposes; guidance for the entrepreneur by establishing a plan of action for the big picture as well as day-to-day operations, insight into the market and how to capture the right consumer mix through targeted marketing, and potential viability to other parties interested in backing or funding the business.

First I would like to talk about the meaning of a business plan, and the importance of it. Turban defined a business plan as “a written document that identifies a company’s goals and outlines how the company intends to achieve the goals and at what cost.” (Turban & King, 2011) I business plan is obviously a formal statement of the business goals, explanations of why they are adaptable, and plans for accomplishing them. It may also contain background information about the organization or team attempting to reach those goals. A business plan is important for an any type of business and any size, it provides the steps the business would take, gives a future look on is will happen, encourage financers, and team members, and eventually it helps in managing the company.