Renee Business Plan

* For each company you chose in Part 1 of this discussion, compare and contrast each sector of the framework and determine which key area(s) provides a competitive advantage. Provide at least two examples to support your position.

After gaining enough knowledge on the types of business structure, business owners can proceed to the process so that their plans of owning a business will turn into reality. After reading several resources, the process will be divided into five stages. The first stage is the planning and research. This involves developing viable business ideas, knowing the target customers and possible competitors, searching for the right location, thinking what will be the business name, and marketing strategy. In this stage, a business plan should be made. Business Link (2016) refers, “business plan as a document that defines why you’re in business, your goals, and how to achieve those goals and it also covers all major aspects of the business, including

A good business plan is the foundation of your entrepreneurial journey. You may have certain liberty in the form and the content of your business plan but you would definitely use the required material.

What is your target industry? What are a few interesting points about the industry? Why do you find them interesting?

What are your strengths (resources, employees, products & services). How will they help you take advantage of the above mentioned opportunities? What are your weaknesses and how will you overcome them using your strengths? What needs to be fixed?

There are two different types of competitive advantage: low cost and differentiation. We will develop them in this part I.

A sound business plan creates the foundation for the future of your business. However, the management is mostly too busy with various responsibilities - focusing on the product/service, pursuing customers, team management, and administration – to prepare a stalwart business plan. Also a business plan is not a one-size-fits-all document. We at understand this and have over 200 man-years of collective experience to provide you a compelling solution package. As business plan consultants we advise you in polishing your ideas and strategies to make your business beneficial. There is no “exact” method to design a business plan. Bizwin is a business plan consulting firm, and our priority is to cover the important questions pertaining to every aspect

What driving forces do you see at work in this industry? Are they likely to impact the industry’s competitive structure favorably or unfavorably? (Did we answer this question?)

· A robust business plan provides a path for changing a company’s profitable enterprises (Wagner, 2017). If the program of activities are not well written or researched, it can cause the company to fail. Starting any business has a price, so

What competitive advantages and disadvantages do you & your competitors have, especially as they relate to the service component?

As part of my A level Applied Business coursework I have discovered what makes an effective business plan, examining the struggles new businesses face and considering ways in which to overcome them. Developing these analytical and problem solving skills is

Barringer, B. R. (2009). Preparing Effective Business Plans: An Entrepreneurial Approach. Harlow: Pearson Education Limited.

A business plan is the core of your business and a must have. It is the roadmap that brings your business idea into a reality. A business plan is a written document that describes in detail how a business, usually a new one, is going to achieve its goals. It guides your business from the start- up stage to developing, growing and managing your business. It can also be used to get funding.

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.

Furthermore, the basic start of a business begins with a business plan. “A business plan precisely defines your business, identifies your goals, and serves as your firm’s resume”