Business Plan for Bernard Sims Associate: A Health and Safety Consultant in the UK
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This report discusses the business plan for Bernard Sims Associate, a health and safety consultant in the UK. It covers macro-environmental overview, market and industry analysis, marketing and pricing strategies, SWOT analysis, and financial requirements. The report also explains the concept of a business plan and its importance for entrepreneurs.
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INTRODUCTION Forhealthcareandassociatedpurposes,digitalhealthtechnologiesmakeuseof computer platforms, networking, software, and sensors (Arnold, 2020). These technologies have a wide range of applications, ranging from general wellness to medical devices. Biotech startup and health insurance organization and some government hire Healthcare consultant to assist them on the appropriate and most effective way in order to deliver Healthcare. The clients of the organization are generally higher consultants to work on the cases for a limited time period. This report is going to illustrate about the Bernard Sims associate which are independent health and safety consultant in the United Kingdom. In addition to this report is going to develop a business plan which engaged self employment and the skills which are required by the individual in order to set up a successful business. In addition to this report also going to explain about the business idea and design in context of business plan. MAIN BODY Overview of the business Bernard Sims associate is established in 1995 in United Kingdom and it is a United Kingdom’s established health and safety consultant.BSA is dedicated to ensuring worker safety in a variety of settings.Their services go beyond preventing accidents and the associated expenses and lost time. They help develop people's attitudes and knowledge via consulting and training, resulting in a safety culture that saves money and time while also improving people's health and productivity. Business Plan: Business plan is the concept which help the entrepreneur when they starting a small business and exploring the ways in order to expand their existing business then the business plan is very essential tool in strategy for the entrepreneur that assist them to make decisions. Business plan is the concept which provides insights on a particular is steps which are taken by them and also access to them to analyze the resources which are required by the company in order to achieve their goals and objectives in an appropriate manner(Bousquet, Farrell, and Illario, 2020). As the organization is wants to develop a health consultancy digital application which provide several services towards the patient or user so that the company can achieve their goals
and objectives in an appropriate manner and provide all the facilities towards the consumer so that they can get more and success.As from the above description the organization wants to formulate a health consultants is digital application so it is become very important for the organization to identify the marketing strategies and complete the competitor analysis and also analyze the internal and external factors so that the organization can identify their target market and appropriately describe the power structure so that they can formulate their Strategies and achieve their goals and objectives in an appropriate manner. Macro- environmental overview Bernard Sims is the health consultancy which provides several services towards the patient and consumer so it is very important for them to analyze the market requirements and also analyze the external factors which create impact on the organization. In order to analyze the external factor the organization is going to conduct a pest analysis which is mentioned below: Political factors:As the organization is committed to keeping the individual safe in every kind of workplaces(Elia, Margherita, and Passiante, 2020). Due to Brexit it creates huge impact on the organization because is the modification in the policies and rules in context of safety culture which create several problems for the organization in order to train the people that how to understand and create a safety culture which overcome the cost and downtime and improve the people wellbeing and productivity. Economical factor:In context of economics the United Kingdom has the country which has a good economic role. The country has a strong GDP and diverse economy but a several kindsof challengestoo. So itisvery requiredfor thecompany toprovide appropriate contribution in the economic development so that they can get more opportunities and achieve their goals and objectives in an appropriate manner. Social factor:This is the factor which explains about the patients and user requirements towards the company. So it is become very important for the organization to analyze the requirements of the society in order to sustain in the Marketplace and provide appropriate facilities towards the society. Technological factors:As the organization wants to adopt a digital application so that they can provide more facilities towards the patient and user in order to achieve their targets and
increase their effectiveness in the Marketplace.So it's become very important for the company to analyze all the technological factors which are running in the Marketplace so that they can adapt more effective technologies in order to become effective in the market(Ghosh, 2020). Market & industry analysis It is very important for the organization to evaluate and analyze about the industry so that the organization can appropriately and effectively operate their activities in the Marketplace and achieve their goals and objectives in an appropriate manner.In order to adapt the Technologies and achieve their goals and objectives it is very important for the organization to analyze the market competition so that they can provide appropriate services towards the consumer so that they can feel safe in every kind of workplaces. It is very important for the every organization to formulate policies in context of safety culture of the employees so that the company can improve their productivity and well-being. So in order to provide appropriate services the organization is continuously working on their capabilities and services so that they can work indivisible safety and improve the Wellness of their uses as well as their patient.In addition to this it is very important for the organization to analyze identify the reasons for being a consultant so that it will support them to focus on their goals. As the organization wants to provide the expertise in a specific market and also help the organization to identifying the problems in context of safety of the person and about the environment change in the surroundings so it's become very important for the company to analyze investigate on the market and industry so that help them to get success and becoming a successful(Hendriarto, 2021).Good consultants are costly, but they are well worth the investment provided you do your part. Selecting a business consultant is expensive enough as it is, so don't make the mistake of hiring the incorrect one. There will come a moment when the company will require outside consultation and assistance.The consulting industryisexpanding,asmorebusinessesseekprofessionalguidanceinareassuchas management, technology, marketing, and more. As a consultant, they may draw on their knowledge and expertise in a variety of disciplines to offer advice to companies in need. Marketing & Pricing strategies In order to analyse the marketing and pricing strategy for the company Bernard sense is required to adopt digital marketing techniques for their promotion. Social media marketing can be an effective marketing strategy for their digital application to be promoted in the market so
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that they can attract more and more customers towards the company. In order to formulate there pricing strategy the company is required to have lower prices in advance as people have lack of trust in online consultancy. Pricing strategy might be work as an effective strategy to attract more and more customers towards their consultancy services (Hughes, 2020). SWOT analysis In order to analyze internal as well as external environment of business the companies required to conduct the SWOT analysis which will help them to analyze their strengths weaknesses opportunities and threats. The SWOT analysis of Bernard Sims is given below StrengthsWeaknesses ï‚·Digitalapplicationintroducedby BernardSimswillhelpthemto provideeffectiveservicesof consultancytothecustomersfrom their places. ï‚·Another strength of the company is is their popularity among their customers for their health consultancy (Jordan, 2020). ï‚·Non availability of doctors 24/7 in the Bernard Sims is a great weakness for the company as they are unable to provideeffectiveservicestotheir customers. ï‚·The employees who are working in the consultancy has lack of knowledge aboutthisdigitalapplicationwhich can creatework conflictand affect their workflow. OpportunitiesThreats ï‚·The situation of covid-19 is a great opportunityforBernardSimsto achievesuccessfortheirdigital applicationaspeoplearescaredof going out to consult doctors and prefer onlinemodesfortheirhelp consultancy. ï‚·Withtheincreasingconsultancy servicesinthemarketthebiggest threat for Bernard Sims is the high competitionandchangingpolitical environment which can have a great impactonthebusinessofthe consultancy.
Financial requirements Bernard Sims is providing their digital application services to their patients which requires some financial assistance(Khairi, Laili, and Kamarubahrin, 2020). In order to forecast the need of finance in the business plan some cost are explained below: Start-up cost: Start-up cost is generally involves the cost which requires by a business to initiatethebusinessplanandtheiroperationssuchasdevelopmentoftheapplication maintenance of the application promotional activities. All these activities requires a cost to be incurred by business and will be included in the startup cost. This cost is breaking up in smaller parts that are explained below: Development of the application = £ 2000. Promotional Activities = £ 1500. Application Developer = Security deposit = £ 100. Advance fees = £ 100. Estimated cost of sales = £10 per unit. Selling price per unit = £50. Fixed cost = £ 1500. Variable cost = £3 per unit. Evaluation of several factors helps to know that they have a great impact on the sales which has been made by the application(Lämmle, 2020). It has been forecasted that the application will be able to provide revenue from 200 patients in a month and on this basis a proper cost statement can be forecasted which has been provided below: ParticularsCalculationAmount Sales£50*200£10000 Less: variable cost£3*200£600 ContributionSales-variable cost£9400 Less: fixed cost£1500 Less: estimated cost of sales£10*200£2000
Net profit£5900 The above cost analysis helps to calculate profitability and break-even point for the business. Break even analysis- Break even analysis refers to the volume of sales the company made at the situation of no profit and no losses. In order to earn profit the company is required to pass this point of sales and it is essential to calculate this neutral situation that is given below: Breakeven point= Fixed cost/ (selling point – variable cost) = 1500/(50-3) = 31.91 units or 32 units (approx.) Profitability analysis- The above given break-even point will help to analyze that any profit earned above this these units will provide profitability to the company(Namperumalsamy, 2020). The net profit margin for the company is calculated below: Net profit margin for the company= net profit / sales*100 = (5900/10000)*100 = 59% CONCLUSION The above mentioned business plan helps to conclude that before starting a new business plan every business is required to develop proper mission vision and objectives. This mission vision and objective provide an assistance to the business so that they can attract customer towards their new and innovative product. In order to achieve success in the market the company is required to involve in various types of analysis like micro environment factors with the help of pestle analysis competitive analysis pricing and marketing analysis industry analysis. Apart from this the organization is also required to formulate effective strategies like marketing and pricing operational plan and many more which will help them to achieve competitive advantage. As finance is also an important part of a business Bernard Sims is required to forecast their financial requirements with the help of cost statement and other cost analysis so that they can analyze their break-even point and profitability.
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REFERENCES Books and Journal Arnold, K., 2020.The Lisbon review: business plan for a lifestyle & art magazine(Doctoral dissertation). Bousquet, J., Farrell, J. and Illario, M., 2020. Aligning the good practice mask with the objectives of the European innovation partnership on active and healthy ageing.Allergy, asthma & immunology research,12(2), pp.238-258. Elia, G., Margherita, A. and Passiante, G., 2020. Digital entrepreneurship ecosystem: How digitaltechnologiesandcollectiveintelligencearereshapingtheentrepreneurial process.Technological Forecasting and Social Change,150, p.119791. Ghosh, I., 2020. Investment, value, and the making of entrepreneurship in India.Economic Anthropology,7(2), pp.190-202. Hendriarto,P.,2021.Understandingoftheroleofdigitalizationtobusinessmodeland innovation:economicsandbusinessreviewstudies.LinguisticsandCulture Review,5(S1), pp.160-173. Hughes, R., 2020. A workforce development strategic plan for Environmental Health Officers. Jordan,D.ed.,2020.TheBusinessofHeritage:GlobalArchaeologyandInternational Consultancy. Cambridge Scholars Publishing. Khairi, K.F., Laili, N.H. and Kamarubahrin, A.F., 2020. Market Thoughts: Potential Implications ofCOVID-19onTakafulSchemeforMentalHealthDisorders.TheJournalof Muamalat and Islamic Finance Research. Lämmle, A., 2020.Business Plan Handbook: Practical guide to create a business plan. BoD– Books on Demand. Namperumalsamy,P.,2020.Maintainingqualityincommunityeyecare–TheAravind model.Indian journal of ophthalmology,68(2), p.285.