Business, Financial Planning and Marketing - Essay Example

For any new business venture, marketing, operation, and financial plans are all related and fundamental (Burns, 2014).
An operation plan gives a vast organizational structure of the business, including information on workers, location, and the outline of goals and missions. The business operation plan equips investors with essential details to identify which business is viable, financially stable, and can repay its worth. The plan help in establishing and controlling the perfect operations of the business. The marketing plans concentrate on the activities marking the company to achieve its predefined goals and missions by selling its products. The plan outlines the targeted base of customers. It outlines strategies to capture new markets and competition from rivals dealing on the same line.

Aligning the three plans is imperative to attain success for the business. The alignment facilitates business growth and prosperity. A new business should focus on strictly implementing the three plans. Every stakeholder in the business must have a clear understanding of the company’s core values as outlined in the three plans. Market and customer information helps in building company customer relationships by gathering vital market information. Read More