Business/Project Plan
BUSINESS/PROJECT PLAN
Description also available in video format (attached
below), for better experience use your desktop.
Introduction
·
It is a proposed course of action about the
future of business
·
It integrates the functional plans just like
o
Production plan
o
Finance Plan
o
Human resource plan
o
Marketing
·
It also referred to the feasibility of the
prospective business in the form of a written document or roadmap of business
operations
·
Definition
& Answer to questions
·
Definition
o
It means the development of a written
document that spells out like a roadmap which tells you
§ Where you are?
§ Where you want to be?
§ How you want to get there?
·
Questions
o
What type of business you are going to start?
o
How you are going to start?
o
When you are going to start?
o
Where you are going to start? And so on.
Significance
& Elements of Business Plan
·
Significance
o
Create a new business
o
Business growth
o
Seek business investment
o
Risk management
o
Means of communication
o
Product description
o
Cash flow
·
Elements
o
Executive summary
o
Industry analysis
o
Company description
o
Market analysis
o
Marketing plan
o
Financial projections
o
Assessment of risks
o
Scheduling
Evaluation
& Failure Reasons of a Business Plan
·
Evaluation
o
Clarity
o
Usefulness
o
Marketability
o
Financial return
o
Milestone expressed
o
Contingency planning
o
Capacity & strength
o
Team members responses
o
Character, Cash Flow and Collateral
·
Failure reasons
o
Unreasonable goal setting by entrepreneur
o
Zero experience of entrepreneurs in the
planned business
o
No sense of potential threats
o
No customer need
o
No market
o
Failure to include milestone
Video
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