Research Paper Naveen Kumar Nagulapalli Dr. Wetzel, Michelle M. IST 7020 Wilmington University
Business plan A business plan is a picture of a business and its plans for the coming years. Based on the plan an organisation will reach its goals. Without a good plan a business will not have good success rate. additional specially the plan describes what the business is; it tells who will buy the product or service and why; it provides financial forecasts demonstrating overall viability; and indicates the finance available and explains the financial requirements. The business plan is printed for the proprietor to give a direction to run the business. It is also written for financial backers and banks. Business plans are drawn up when a business sets up for the first time and are amended and revised when the business wants to change - typically when it wants to expand. A simple business plan should be clearly set out under the following headings: Owner details About the business Chart of the bazaar Assessment of opposition How the business will be managed Future marketing mix Premises and infrastructure Sources of money money flow estimate Upcoming plans
Business plans are specifically important for new start up businesses, because they provide a structure for the owner to work to. Also if the owner needs to increase funding from a bank or others then it will be necessary to give a understandable business plan, so that the bank can feel convinced in giving a loan. study shows that those businesses that create complete plans are far more likely to do well than when only a unclear plan or no plan at all is prepared. Study also says that entrepreneurs who make reasonable predictions about money flow, break even and profit and loss are extreme more likely to raise funds that those that make inflated claims. For recognized, better organisations - the business plan is usually known as the 'corporate strategy'. Business case A business case document is a official, on paper argument proposed to influence a decision maker to agree various type of actions. prepared argument that will tell a conclusion manufacturer to be able to agree some form of motion. The well-crafted company situation explores just about all probable ways of settled difficulty and also allows business owners to choose an opportunity that best will serve this company. This specific guide explains the actual formatting and also content of an company situation report plus the techniques associated with its formation. Before you start writing your business case Designing a business case is very important before you start designing a project. Making a organization situation document is really the final regarding various development that need to be complete before you provide the idea. throughout these development. Because organization situation growth is usually time-taking.
The first stage of the problem is analysis of the situation that lead to the plan for the project.
You've reached the end of your free preview.
Want to read all 13 pages?
- Fall '14
- Project Management, project manager, Project Cost Management