Nobody downloaded yet

The successful business plan: secrets & strategies - Assignment Example

Comments (0) Cite this document
Part 1: INTRODUCTION Business plan is an important business document that defines the basic concept of the business, what and how the business should be able to achieve success, its industry and also the direct and indirect competitors of the company. Business planning is helpful in determining whether the management or the entrepreneur should go ahead and start the business or not and whether the business would be profitable or not…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.8% of users find it useful
The successful business plan: secrets & strategies
Read TextPreview

Extract of sample "The successful business plan: secrets & strategies"

Download file to see previous pages With proper business planning, an entrepreneur is able to identify different risks and factors that could influence the performance and profitability of the business and thus by taking necessary steps, risks of the business can be mitigated and chances of achieving success can be enhanced. ELEMENTS There are different elements which are included in a business plan though there is no exact requirement or format to be followed but some elements are so important that they must be included in a formal business plan (Pinson, 2008). The most important elements of a business plan are: Idea generation Idea generation section of the business plan basically explains the general concept or idea of the project or business. It explains what the organisation would do and what would be its basic purpose. The idea generation helps in identifying what the company should aim and how they should operate. The basic idea generation section is very important in explaining and giving the basic background of the business and its operations to the investors or readers of the business plan (McKeever, 2008). ...
It is important to have a time frame for achieving these objectives because by having a target in mind to achieve the goals, entrepreneur would be able to motivate himself and his team otherwise he would become lethargic (McKeever, 2008).. This section also includes the mission and vision of the company which are important in not only giving directions to the entrepreneur but to everyone in the origination as well. Mission and vision defines what the organisation should be able to achieve in the years to come and about the basic purpose for the existence of the company (Walker, 2000). A good mission statement should not only define the objectives of the company but it should reflect concerns regarding employees, customers, environment, public, and other stakeholders of the organisation. Market analysis and research Market analysis is one of the important elements included in every business plan and without this section the business plan would be incomplete (Deshpande, & Zaltman, 1982). Market analysis section includes the definition of the industry in which the industry in which the company is operating along with the trends of the industry (Lehmann, 1985). A growing trend would forecast better future for company and it would also mean that more competitors would be attracted in the industry and thus a positive future for the company can be reflected. In addition to this, this section of the business plan defines the behaviour of the consumers. Therefore this element of the business plan helps in analysing the behaviour and preferences of the potential customers to the entrepreneur and investors. A good industry analysis and market research can be helpful in preparing an effective business plan that could help the investors and the entrepreneur to ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“The successful business plan: secrets & strategies Assignment”, n.d.)
Retrieved from
(The Successful Business Plan: Secrets & Strategies Assignment)
“The Successful Business Plan: Secrets & Strategies Assignment”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The successful business plan: secrets & strategies

Business Ethics for Successful Business

...Business Ethics for Successful Business The article is a descriptive study of an important area associated with consumer behavior in terms of business ethics. The main question highlighted in a holistic form was whether unethical practices in business regarding services become an ultimate cause of business failure. The main aim of any business in today’s world is to attract customers, keep them satisfied and make an effort to retain them. Due to an array of reasons, customers are rational and are aware of their costs and returns associated with an investment. They are also exposed to a variety of...
3 Pages(750 words)Research Paper

How Can Successful Marketing Strategies Boost Business

...How Can Successful Marketing Strategies Boost Business? Abstract A marketing strategy is designed to achieve goals in marketing. It involves a target market and a plan on how to conduct marketing activities. Marketing plays a number of roles in meeting the overall goal of a business. This is by determining future trends and opportunities in a market where the business operates and making appropriate recommendations, determining new market opportunities and making recommendations, making budget and staff decisions, and establishing and enforcing marketing strategies that are appropriate for the general strategic direction of a business in the global market. Products and services can be promoted in a number of ways such as through... ...
4 Pages(1000 words)Research Paper

Trade Secrets

...? Trade Secrets 02/13 Trade Secrets Any competing firm these days is part of the business arena of using the expertise and knowledge to make novel profits and also to capture advantage in market. Keeping confidentiality of a business strategy, method, or process is a trade secret. This trade secret might be different for failure and success alike. How perfectly a company defends its competitive advantage is mainly reliant on its capability to manage, identify, and also safeguard its intellectual assets. Thus, there is a problem here. Companies describe the requirements for information security on conventional ‘perimeter’ arena. All organizations make large investments to safeguard the physical assets and also the infrastructure... . Trade...
4 Pages(1000 words)Research Paper

Strategies for Building Successful Leadership

...strategic decisions, have the ability to solve problems, ease in managing complexities, and remain flexible. Therefore, as a leader, I have to adapt a leadership style that fits in various situations such as innovation and creativity, and maintain a strategic / visionary mind-set to generate new ideas (Pierce & Newstrom, 2000). Methods to Build Effective Relationships As I interact in the business world, I will soon realize that habits, behavior and personalities make people distinct from one another. To build my foundation at the organization, I will use my interpersonal success of being real, responsible, extending respect and developing relationships. As a leader, I will have to apply five...
4 Pages(1000 words)Research Paper

Successful business plan

...? Successful Business Plan [Pick the Executive Summary: Zug Al Arbat captures people who want to avail quality spare parts for their vehicles at low costs. They earlier have been operating under the name of Zubaida tul Arbat as a small automobile workshop. With recent up lift in their funds, they attempted to spread out their services and target the most available market of abandoned vehicles. The idea of combining abandoned cars with new spare parts is as in not a new one, but no one in the Kingdom of Saudi Arabia has as yet attempted this combination (Historic Vehicle, 2012). They have designed their business to halt the speeding industry of car abandoning and transfer...
6 Pages(1500 words)Assignment

Strategies for successful writing

... creation, such as negotiation, offer and acceptance, and consideration. Were any of your questions about this topic left unanswered If so, what are they There were some unanswered questions, which I stated above, relating to the aspects of sales in the presentation. Especially since the topic was sales contracts, the presenter could have economized more on time by minimizing the discussion on contracts and focusing more on sales. *Adapted from Reinking, J. A., Hart, A. W., & Von der Osten, R. (2003). Strategies for successful writing: A rhetoric, research guide, reader, and handbook (6th ed.). Boston: Prentice-Hall/Pearson Custom Publishing.... G Presentation s* What is the main point of this presentation The topic discusses what...
3 Pages(750 words)Essay

Business Strategies

...of dimensions expansion by volume, geographical dispersion, vertical integration. Chandler noted that as strategy developed, successful organization developed structures that supported its implementation. Most Big Biotech companies have opted for the second model, since their more-targeted products are best delivered in smaller organizations. The main job title in marketing management (consistent throughout the industry) is product manager. A product manager's responsibilities fall into two main categories, management and administration. The product manager must develop and manage the short term product strategy and marketing plans for assigned products, oversee...
10 Pages(2500 words)Essay


... with the factors in mind. It means that it is good to have a dynamic business plan than not having one at all (Abrams, R. & Kleiner, E., The successful business plan: secrets & strategies). References Abrams, Rhonda. & Kleiner, Eugiene. The successful business plan: secrets & strategies The Planning Shop, 2003. Hadzima, J. “The Business Plan”. September 21, 2010. Massachusetts Institute of Technology, 2005. business-plan.html> Saint Vincent College. “Importance of a Business Plan”. September 21, 2010. Business Planning, 2010. plan>... success or loss. It can also provide Micky McDonald with a financial analysis of the business of the future. A comparative analysis can also be made between owning and dumping the...
2 Pages(500 words)Essay

Food Van Business Plan

... to all. High quality foods that meet the set standards and the customers’ tastes and preferences are our purpose (Schlosser 2012, p.27). We will offer healthy, fresh, fast, quality and well-prepared foods to ensure that the foods will improve their well-being and ensure that a healthy generation exists. List of References Abrams, R 2003, The successful business plan: secrets & strategies, The Planning Shop, Palo Alto. Jones, P 2002, Introduction to hospitality operations, Continuum, New York. Mckeever, MP 2012, A business plan, Nolo, Berkeley. Myrick, R 2012, Running a food truck for dummies, Wiley, Hoboken. Schlosser, E 2012, Fast food nation: the all-American meal, Mariner Books/Houghton Mifflin Harcourt, Boston.... Food Van...
2 Pages(500 words)Case Study

How Technology is Changing the Face of Business Today 1

... and the management. For example, the use of social media forums, text messaging, and teleconferencing ensures that customer-savvy customers are better in selecting their preferred goods and services (Roberts, 2011). It also improves their choices and decisions when giving a feedback or complaint. References Abrams, R. (2003). The Successful Business Plan: Secrets & Strategies. Mason, OH: SAGE. Roberts, D. (2011). Unleashing the Power of IT: Bringing People, Business, and Technology Together. New York, NY: John Wiley & Sons. Scott, D. (2006). I. T. Wars: Managing the Business Technology Weave in the New Millennium. New York, NY: SAGE.... Technology and Business Technology and Business Technology is...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic The successful business plan: secrets & strategies for FREE!

Contact Us