Access the Internet and locate a business plan for an enterprise that is similar
ID: 458355 • Letter: A
Question
Access the Internet and locate a business plan for an enterprise that is similar to one that you are interested in developing. Write a two-page analysis report that addresses the issues below and makes relevant connections to course objectives. Include a final reflection and application section that relates what you learned to an entrepreneurial project that interests you. Address the following: Creat a description of the business concept. What is the market size, and can it be independently verified? Are the assumptions of the business plan correct? Is the management credible? Does the management have existing relationships within the market? What is the nature and purpose of the funding. Can the funding be secured independently of the success of the business?
Explanation / Answer
I am looking for the small scale industry/Start ups with the investment of 50,000 Dollars where the core aim is to develop websites for the new ventures or startup. Initially to start up the business one has to higher space where people can develop the websites with the help of small scale startup. Initiall we require Manpower space workstations. After aquiring all the needs we will be needing the licenses to be taken for smooth running of the business this will be done by the administration department whose aim will be to ensure that the licenses related to business are in place. Than we can have the Annual Business Plan in place elaborating clearly the Target and the ways to achieve the target. when we have all the budgets in place we shall ensure that we achieve those budgets for that we need the Marketing,Sales support who will ensure that ATL and BTL budgets are reached. The orders have to be booked from the corporates as well as individuals by the sales executive who will in turn ensure that they work on the higher margins once this is done we shall ensure that the delivery or the site is prepared as per the agreed terms. When we ensure that collaterally the Targets are met with the combined effort we as a team are successful in achieving our desired objectives. The issues those are likely to be addressed are the SWOT analysis and seeing the competition one needs to understand that all the parameters are carefully studied and reach to a level where the institution and the organization are in the path of growth. The main learning of the above project is how one can do Man management, Time management,Customer Relation,Strategy,Study of competition. The description of business concept relys on certain parameters they are pitching,Budget allocation,Study of competition,study of operational related issues,understanding of the Day to day operational activities. The market size can be understood by understanding the competitors,per capita income of the studies area,Purchasing or buying capacity of the general public,understanding of the Print and electronic media reach,Analyzing the last 5 year data of the past which will give an idea as to how the things can move and what research one needs to do in ensuring that the the business grown to new heights. Yes it can be independently verified from the third party agencies who work on certain parameters and see that the guidelines and objectives are met clearly for the company. In all its correct that the same can be verified from only the specialist agencies who work to ensure that the business have their Standard operating procedures in place.We cannot say that the assumptions of the business plan are correct or wrong this can only be verified or clearly elaborated only when the rolling is done for the business plan. The credibility of the management can be judged after rolling of the plan or when the business flow has started. The management has the existing relationship in the market will depend on when the business is growing in other words when the company starts getting the orders the business relation in the market will automatically develop which will in turn see that these relationship are developed for further orders. The nature and purpose of funding is to earn profits and see that the Break even level is reached quickly as this will ensure that the business viablity and its dominance in the market. Generally funding has to be done with one or the other parties so as to see that their is no cash shortage when the business execution takes place its always advisable and safe when one funds the business.