Nobody downloaded yet

Business Plan Issue - Essay Example

Comments (0) Cite this document
Summary
The essay 'Business Plan Issue" explains why to create an implementation plan is not an easy task. It takes a lot of hours of hard work, dedication, and the application of analysis of data. When managers do not take implementation plans seriously they put the economic well being of a company at risk. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.4% of users find it useful
Business Plan Issue
Read TextPreview

Extract of sample "Business Plan Issue"

Download file to see previous pages A few years ago I did some consulting work for a family member that was starting a new company. The firm needed help creating an implementation plan on how to reach the commercialization phase for a new product the firm had developed. The company had already submitted a pre-patent application and the lawyers believed that that the chances of getting the patent approved was very high. Legal protection was one of the variables that were holding back the full launch. Another problem the company faced was a lack of capital. The company had been incorporated for over a year and half doing research and development without generating any revenues. A lack of operating cash led to the failure of the business. This company in its early stages needed a better implementation plan with a better timeframe and action plan.
DQ3
The reason most risk management fall short of expectation is because they lack sufficient scope. A lot of managers do not have a clear understanding of all the business risks that can affect a company. For instances variables such as foreign exchange rate are not considered by many when in fact this variable can influence businesses that make many recurrent purchases of materials from foreign distributors. The risk profile of an industry changes and many managers do not keep up with current events sufficiently to realize the new risk variables may affect an industry. For instance the arrival of a wave of new green cars will adversely affect the production of pickup trucks and SUV automobiles.
4. The learning curve has many practical implications for the labor force of a business. Companies that establish themselves in an infant industry are not able to benefit from the virtues of the learning curve. On the other hand firms such as Coca-Cola have gained dominance in the market through years of experience that has enabled the firm to become an expert in the beverage industry. When a company is the first to enter a marketplace they can use that strategy as a tactical advantage to achieve higher market share. Resistance to change can slow down the employee adaption process to a new working environment. 5. I agree with you that planning on many occasions is a weak area on many firms. Not only do companies do not dedicate enough time and money into planning, they also fail to recognize that planning is not limited to the short term. Companies must develop strategic plans five to ten years into the future. I believe that Microsoft when it releases a new product already has the plans ready for the next generation product that will replace the product that is being introduced. I also agree with you that high moral and ethical standards must be implemented into plans. Back in the late 1990’s a lack of ethics led to the Nike sweatshop fiasco. 6. The use of guidance should be followed to spread the use of strategic thinking within a corporation. Your statement about many firms formulating unrealistic vision statements is also true. Sometimes mission and vision statements are used as publicity acts. I would imagine that Enron had a positive mission statement that was obviously not followed by the corrupt executives of the company. Teamwork is a critical success factor in the business environment of the 21st century. Multi-national corporations must be run efficiently in order to maximize ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Business Plan Issue Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from https://studentshare.org/business/1428642-business-plan-issue
(Business Plan Issue Essay Example | Topics and Well Written Essays - 1000 Words)
https://studentshare.org/business/1428642-business-plan-issue.
“Business Plan Issue Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/business/1428642-business-plan-issue.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Business Plan Issue

Business Plan

...?Business Plan Table of Contents Table of Contents 2 Overview of Fordwell Golf Club and Its Retail Pro-Shop 3 Business Case 4 SWOT Analysis of Fordwell Golf Club 5 Future Objectives 7 Staffs and Skills Requirements 8 Promotion 10 Projections 11 Income Statements 11 Projected Cash Flow 13 Forecasted Cash Flow 14 Conclusion 15 References 16 Overview of Fordwell Golf Club and Its Retail Pro-Shop Fordwell Golf Club is a clandestine associated club which was developed in the year of 1935. The club is located in one of the colonised areas of Midlands with excellent transportation network. The region comprises of venerable population with high passion for golf. Moreover, the brand image of...
12 Pages(3000 words)Assignment

Business plan

...? BUSINESS PLAN Events.com ……………………… College………………………………. …………………. Table of Contents Table of Contents 2 Introduction 2 StudentEvents: The Business Rationale 3 Business Objectives 4 Mission Statement 4 Success Measures 4 Marketing Plan 5 Marketing Mix Elements 5 Targeting and Segments 7 Business Operational Issues 7 Financial Projections 8 Conclusion 8 References 9 Introduction StudentEvents.com will certainly be an amazing experience for students to rejoice events and parties by sharing it with their friends online. When students leave the campus for weekend or holidays, StudentEvent.com will take them back to memories...
6 Pages(1500 words)Essay

Business Plan

...? A Business Plan for Comfy Travelling Agencies Task A Business Plan for Comfy Travelling Agencies Introduction A Business plan is a crucial instrument for planning of any business, since it predicts on the business performance. An ethical business is not profit-oriented, but considers the insinuation of their activities to the society. This article examines the provision of travelling services to individuals as an example of an ethical business. 1. Selected Ethical Business In selecting an ethical business, I would open...
4 Pages(1000 words)Essay

Environmental issue in Business

...against the radio active material. Many countries of the world, like, Finland, Sweden, Canada and France, have adopted models to produce nuclear energy in a safe way. On the other hand, Chernobyl and Three Mile Island encountered accidents from their nuclear reactors. Therefore, it is viable that lessons should be learnt from the past accidents and to analyze the benefits or hazards of nuclear power. For instance, in the accident of Three Mile Island’s nuclear reactor, the lack of proper training to operate the reactor and major flaws in its design were found to be responsible for the accident (IAEA, 2010). Therefore, when constructing or building a strong nuclear power plant, it is imperative that such design issues and...
10 Pages(2500 words)Essay

Business plan

...Simkin. (2000). Marketing is marketing- may be. Marketing Intelligence & Planning. 18 (3), Anthony R. Bennett. (1997). the five Vs - a buyer’s perspective of the marketing mix. Marketing Intelligence & Planning. Volume: 15 (issue 3), G.E. Kiser, S.R.G. Rae, C.P. RAO. (1974). Clues to the design of a marketing mix. European Journal of Marketing. 8 (2), 18-22. A. R. Thorne. (1971). the marketing mix – a problem analysis. European Journal of Marketing1971. Volume: 5 (4), 1-7. David M. Reid. (1980). Evaluation of the Marketing Mix — Its Application to Strategic Marketing. European Journal of Marketing. Volume: 14 (4), 19-23. Rick Wise, Niren Sirohi. (2005). Finding the best marketing mix....
9 Pages(2250 words)Essay

Business Plan

...contractor is necessary to avoid responsibility for a wage based interpretation of the workers contribution to our organizations. The independent contractors rewards employees for results and in fact encourages results as a means of unlocking controllable capital. Marketing Mix The most significant factor in acquiring new clients is our ability to help the costumer understand the advantage of purchasing services from Clean Wheels. While accessing new clients is an important aspect of our business plan, we want to place an emphasis on retaining existing customers for repeat business. Given the possibility that we are able to capture repeat business with clients we...
10 Pages(2500 words)Term Paper

Research typical business plan models

...of business (step 3.0) done. Businesses that are for service delivery must handle service delivery issues, and product providers also need to handle products issues. There are those businesses that provide services and products; such businesses must handle issues pertaining service delivery and goods provision. The strengths and limitations of these models Strengths: Models above provide clear road maps for transforming businesses into profitable investments. The executive summaries of the above models are well elaborated. This is a strength consideration since achievement of objectives is based on the...
4 Pages(1000 words)Essay

Business law- legal issue

...? Legal Writing Paper Legal Issue The legal issue in this study will entail; what are the Minority Shareholders’ remedies where the company is being run oppressively? The current business world is engulfed with sophistication, business persons are inclined to form corporate body to run their business units. This is being seen as panacea to escape the risky concept of individual liability that is in a business where there is no distinct legal entity between the individuals and their businesses. However, the doctrine of incorporation is not without its challenges. A problem usually arises where promoters of a limited...
6 Pages(1500 words)Essay

Marketing plan/Business Plan

...911 Health Care Services Corporation MARKETING PLAN BY YOU YOUR SCHOOL INFO HERE HERE Marketing Plan for 911 Health Care Services Corporation Mission The mission of 911 Health Care Service Corporation is to provide an efficient method for delivering pertinent medical information in emergency situations. The goal is the production of a secure product that ensures identity protection of patients, using innovative technologies to reduce this risk. 2. Products and Services The product being launched is a handheld retinal scanning device that uses laser technology to instantly recognize the patient, offering hospitals, emergency crews and other clinical staff members an instantaneous patient profile and history. This device is linked... ...
5 Pages(1250 words)Research Paper

Business plan/ organizational plan

...Organizational plan for ‘good health fitness centre’ unit The fitness centre organization plan will tend to give a list of what every member or worker of the fitness centre is required to do. It will list out the work plan, the eminent and daily programs and the growth of the organization as per a given time. The fitness centre will comprise of a managerial section and the workers. The management will be a team of individuals who will be at the helm of the fitness centre. Their work will be executive duties and powers mandated by the owners of the centre to them. Acting in the capacity of share holders. Chief Executive Officer (CEO) There will be the chief executive officer whose work...
3 Pages(750 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 Essay on topic Business Plan Issue for FREE!

Contact Us