HCT LSS 2403 - Fundamentals of Innovation: Personal Business Plan

This document presents a personal business plan developed by a student at HCT, fulfilling the requirements of the LSS 2403 Fundamentals of Innovation & Entrepreneurship course. The plan begins with a vision and opportunity analysis, outlining three major goals post-graduation: academic excellen...Read More

Running head: BUSINESS PLAN
Business plan
Name of the student
Name of the university
Author note

1BUSINESS PLAN
Vision and opportunity
The three major goals for me after graduating from HCT are to score well marks across
all the activities in the University to ensure that I will be able to have the maximum exposure in
the current competitive job market. The next objective of mine will be to get a job in the exact
sector that I am targeting. This will help in having the major benefits from my domain
knowledge and I can effectively use it in my workplace. The third goal of mine will be to have
positive contribution towards the society. This will help me to ensure that I will be sustainable in
my future approach.
One of the major touch points in my vision is what will be my contribution towards the
society. How my approach will have positive impact on the society. This will guide me towards
achieving my goal of sustainability. The next touch point is how my job will justify the
knowledge I have gained from the university. The last question is how to secure best outcome
from my university activities.
I have the opportunity of seeking job in different locations around the world, which will
increase my exposure. Companies with having higher cutoff process can be accessed by me.
There are number of ways including NGOs to have the favorable impact on the society.
Marketing and implementation strategy
The positioning statement will be: “to be the best with best of knowledge and expertise
along with the higher of mobility and flexibility”. This positioning statement of mine denotes
that I will be able to contribute to my employer the highest level of knowledge that I have
gained. The organization will be able to have the maximum benefit out of me. However, the cost
for the employer will be same as for others due to the reason that it will follow the same market
standard. Thus, the return on investment for the employer will be more (Baranov et al., 2015).
The major differentiating factor for me over others is the flexibility that I will offer to my
employer. This is due to the reason that I will be flexible enough for the employer in adjusting
with different working environment and different job roles. In addition, the mobility of mine will
ensure that I will be comfortable with any job locations unlike to other majority of the students.
This will also contribute in the value creation for my employer.

2BUSINESS PLAN
Risks and mitigation
The major checkpoint for me will be achieving the graduation certificate from the
university without any lag. In the further stage as an employee, the major milestone will be one
of most productive and value creating employees for the employer. The probable lag in my
university curriculum can be measured by my performance in the different assignments and
activities in the university. Identified milestone in the workplace can be measured from the
feedback of the managers (Edwards, Margison & Ferner, 2013). Securing the higher marks will
help in gaining the best job opportunities in the further stage, which will act as the preliminary in
gaining success. Becoming productive employee will also help in further job promotion and
growth.
The major external factors are economic situation due to the reason that economic
recession may cause unemployment for me. In addition, change in the business scenario will
change the approach and trend of the organizations. Strategies for risk mitigation for me will
include having domain knowledge in different sector to get changed in case of unwarranted
situations (Talluri et al., 2013). In addition, continuous improvement of skill process to get
adjusted with the changing scenario of the business. The last strategy will be to have the cross
cultural communication skill, which will help me connecting with the different stakeholders.

3BUSINESS PLAN
Reference
Baranov, S., Skufina, T., Samarina, V., & Shatalova, T. (2015). Dynamics of interregional
differentiation in Russian regions based on the level of development of information and
communication technologies. Mediterranean journal of social sciences, 6(6 S2), 384.
Edwards, T., Marginson, P., & Ferner, A. (2013). Multinational Companies in Cross-National
Context: Integration, Differentiation, and the Interactions between MNCS and Nation
States: Introduction to a Special Issue of the ILRReview. ILR Review, 66(3), 547-587.
Talluri, S., Kull, T. J., Yildiz, H., & Yoon, J. (2013). Assessing the efficiency of risk mitigation
strategies in supply chains. Journal of Business Logistics, 34(4), 253-269.