First and foremost Business Plans are used to be able to identify a strategy wherein a company can execute so as to penetrate and proliferate market segments in which their product are aimed at. From this, they can then develop their product in ways which appeal to the customers. Business plans have 8 sections and are as follows: The Executive Summary, Company Description, Market Analysis, Management and Organization, Products and or Services, Marketing and Sales Plan, Financial Plan and Appendices.
Let us first talk about The Executive summary. This section brings all the contents of the Business Plan together. It details crucial information that can allow those in haste to be able to make quick judgements and decisions. Putting critical information in The Executive Summary is crucial as to gain the interest of potential investors.
Next, is the Company Description. This segment of the Business Plan looks at the company that is being examined for the case study. It provides details on the companies mission, vision, slogan, values. By placing emphasis on this section, those making the Business Plan help its readers to understand what the company is and their collective objectives. Knowing what the company represents is important to be able to understand the appropriateness and feasibility of products or services they may be looking to deliver.
The Market Analysis section looks at the macroscopic environment and the customers who may be potentially interested in the products or services that may be outputted by a company specified in the Business Plan. Market Analysis segments the audience to determine specifically what part of the population are interested in specific products or services as per the Business Plan. By looking at the audience and customer base, companies can then target their audience with specific product or services in which they will be rewarded with business. Where the Market Analysis looked at the target audience, the Management and Organization section then looks internally. The microscopic environment. It considers the bureaucracy in which products or services can be provided by the company specified in the Business Plan. This section then aims to prepare and allocate the staff necessary for specific penetration, proliferation or development. It considers training and the expertise of the staff which then are used to make a product or service sellable to the mass market.
The Product and or Services section on the otherhand looks at what is outputted by the company and sold to the market. This section identifies the products specific purpose, its value and the surplus value created as a result of the point of sale. By having this section, companies can quickly identify which products/ services are appropriate for specific segments of the market.
The Marketing and Sales Plan section looks at the ways in why purchase can be persuaded to the target demographic. By considering the intrigue of messages conveyed on to the demographic, companies can hope to gain sales. This section identifies how specifically products or services would come to the consciousness of its target demographic. This could be posts on social media, news paper advertisements, videos, bill boards, word of mouth. This is a crucial section as word of specific products and services spread within the community, companies can then expect to gain sales.
The Financial Plan section looks at the companies budget. This section takes a closer look at the productivity of the company. It outlines the value created by each worker for each product or service. It considers the surplus value that is created by the manufacturing process and then further considers the possibility of allocation of resources to such departments as R&D. By having strong financial backing, companies can expect a greater probability of penetration, proliferation and development.
Appendices are the last section. This section are specifically for tools used such as SWOT, STP assessments. Further strategy canvas can be annexed herein to provide clarification of how a company can expect to enter markets that interest them. Parts of legislation can also be included in this section so that readers are aware of the political landscape where their products and services may be released.
Having a good Business Plan helps business gain the strategy it needs to spend wisely and be efficient in an ever competitive market. The purpose of these Business Plans is really to build skill and craft a company that can with stand current trends which companies may need to adjust to. Having an adequate Business Plan is the first step in competing in a globalized world. Therefore, it is always important to consider these trivial matters.
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