Imaginary Business Action Plan For this item of course work I have been asked to produce a comprehensive study into starting an imaginary business of my choice in the Ballymena district in which I live. To help me proceed through this I will develop an inclusive action plan which will allow me to see how well I'm progressing through the time that I have been given. The action plan will also help me with the points that I must cover to ensure this study is comprehensive. In order for this study to be comprehensive and not lacking in detail or facts I must research all aspects of starting a business. I will be using books, the internet and contacting similar business to aid me in my research; …show more content…
Objectives ========== To make my coursework inclusive I'll need to investigate the following objectives:- 1. Find out the setting up costs required, and how to finance it. 2. Find out if there is space in the market and demand for another electrical store in Ballymena 3. To find out how to attract customers to the shop 4. To find out the lost of the stock 5. Find out about local competition 6. Find the best location for the business to be situated Action plan =========== This is my action plan; I will use this to monitor my progress through out this course work. What Do I Want to Find Out ========================== My aims when doing this research are to find out: * Find out if there is space in the market for my business · What additional services must I offer to attract customers to the shop * Find out about local competition · Who is my target market This information will be gathered mainly by primary research; therefore my gathered results will hopefully be more qualitative then quantitative This will involve going out and carrying out questionnaires, the advantages with questionnaires detailed and customized questions can be found out, also you are gathering information from your target market. The disadvantages are that it will take
As a Professional Tennis Coach I want my students to be the best they can be in tennis, i use that mentality to try their hardest in everything they do. I also want to create future tennis pro’s, by training them everyday they can develop their game to get at least a college scholarship.
The provision and use of personal protective equipment could include using gloves, glasses, earmuffs, aprons, safety footwear, dust masks.
Profit is the money that a business earns in revenue, minus investments, and the cost of salaries.
Q1: What are "make-to-order" (MTO) and "make-to-stock" (MTS)? Why did EA cakes want MTS over MTO? Do you agree with such a decision? Why or why not?
Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.
Describe the methods that will be used to sell and distribute the products or services
One of the most difficult obstacles in achieving personal self-development is the lack of a good action plan. It is not a difficult task, but requires learning to be efficiently executed. The result should be an effective practise to reach my goal. This is done by the inclusion of an Action Plan, which will assist in reaching my goal and narrow my focus and drive to achieve that goal. To enable me to create an Action Plan, I first need to list particulars of thing needed to do to accomplish my goal. This is done by
I cited sources of information (e.g., data, ideas, charts, etc.) and used this material to support this document.
4. Action: List and describe 4-5 action steps to turn your plan into reality and implement the plan
Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the
A business plan is a road map for a team or business and it can be used, as an eternal tool for potential customers and partners. The business plan should describe in details the entire business venture, technology behind it, the size of the target market, customers, competition, business model, team, financial needs and exit strategy. The business plan gives a company insight and allows them to think things through early enough in the process to ensure they have a well defined venture goals and objectives. It also gives the business direction to a clear path for the team to follow and implement on their venture.
Despite being an intimidating prospect for most people, there are millions of entrepreneurs in the US. Some of them turn out to be very successful, others, not so much. There are many steps to starting and running a business, but many of them can be easily accomplished simply by filling out some forms, and several small fees.
Starting a new business is an exciting venture and has its unique mix of challenges and rewards. Many are set-up for failure if no clear goals or measures are established and adhered. According to the Small Business Administration, “Planning is critical to successfully starting and building a business.” The best advice for a new entrepreneur interested in starting a business is to create a solid business plan that outlines the business in its entirety. A well-constructed, written business plan will help owners remain focused on their operations, marketing and financial measures through the duration of the business life. In addition, knowing the risks involved in starting a business can help prevent and minimize mistakes that cause many
In this paper, I will select an organization and prepare a strategic plan to grow the business over the next three years. This strategic plan will include certain criteria. That criteria includes:
stage in the life of the business. So it is very important to work out