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Business Plan Assignment - Proto-X

   

Added on  2020-10-23

16 Pages3869 Words57 Views
BUSINESS PLAN1

Table of ContentsINTRODUCTION...........................................................................................................................4EXECUTIVE SUMMARY.............................................................................................................4Company Overview.....................................................................................................................4Business Idea...............................................................................................................................4Issues of Business Plan................................................................................................................4BUSINESS AND ITS MANAGEMENT........................................................................................5Mission........................................................................................................................................5Objectives....................................................................................................................................5Activities......................................................................................................................................5Management Team......................................................................................................................6Legal Structure:...........................................................................................................................7THE PRODUCT..............................................................................................................................8Product Description.....................................................................................................................8Readiness for Market...................................................................................................................8Features of the Product................................................................................................................8Comparison with Competition.....................................................................................................8MARKET AND COMPETITORS..................................................................................................9Research Undertaken...................................................................................................................9Customer Needs...........................................................................................................................9Market Segmentation...................................................................................................................9COMPETITIVE BUSINESS STRATEGY.....................................................................................9Suppliers and Cost.......................................................................................................................9Pricing Policy.............................................................................................................................10Advertising and Promotional Plan (SMART)...........................................................................10Distribution Channels................................................................................................................102

Market Share Projection............................................................................................................10OPERATIONS..............................................................................................................................11Staffing Requirements...............................................................................................................11Quality Control..........................................................................................................................11Policies and Procedures required to ensure compliance and potential best practice.................11FORECASTS AND FINANCIAL DATA....................................................................................11Sales Forecast............................................................................................................................11Cash Flow Forecast....................................................................................................................12Projected Profit and Loss Account............................................................................................13Projected Balance Sheet............................................................................................................14Assumptions underpinning Forecasts........................................................................................14Financing Requirements............................................................................................................14CONCLUSION..............................................................................................................................15REFERENCES..............................................................................................................................163

INTRODUCTIONBusiness Plan refers to a detailed outlay of a whole new idea, concept, business orproduct. It is an effective practice that is required to be followed by each and every businessorganization to develop any offering smoothly and competitively within the marketplace (Burnsand Dewhurs, 2016). The following project is based on development of a 3D Printer. It covers adetailed summary of the business organization, its overall management and a detailed analysis ofthe product itself. The report also covers market and potential competitors, competitive businessstrategies, operations as well as financial forecasts and projections.EXECUTIVE SUMMARYCompany OverviewProto-X is a manufacturing company which deals in manufacturing high end hardwarefor companies of various industries such as automotive, engineering, etc. The firm works on theconcept of inclusion of high technology in their products and processes and effectivelychannelizes their resources in researching and developing products to serve real demands ofcurrent market (McKeever, 2016).Business IdeaWith enhancements in technology and its access in developed countries like UK andUSA have caused rise in major opportunities in the market regarding development oftechnologically advanced products and services which are essential for customers. To achieve asustainable growth and competent image within the market, Proto-X is planning to develop 3DPrinters for its customers in the UK. The idea is to provide a range of printers for differentoperations carried out by organizations in various sectors.Issues of Business PlanEach business plan has several issues that are required to be looked into to ensuredevelopment of product and service and effective launching and distribution of the product. ForProto-X, issues which they are likely to face are mentioned below:The firm might indulge in a bad research due to choosing ineffective research methodswhich gave false results to the company.4

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