Develop and Implement a Business Plan - Desklib

This article provides a detailed guide on how to develop and implement a business plan. It includes an analysis of the current business environment, goals and objectives, documenting a business plan, and communicating the plan to relevant parties. It also includes a critical analysis of a sample business plan.

Running head: DEVELOP AND IMPLEMENT A BUSINESS PLAN
Develop and implement a business plan
Name of Student
Name of University
Author Note

1
DEVELOP AND IMPLEMENT A BUSINESS PLAN
Table of Contents
Part A.........................................................................................................................................2
Analysing and interpreting the current business environment, goals and objectives.............2
Documenting a business plan to assist the organisation to achieve its goals.........................2
Executive Summary................................................................................................................2
Introduction............................................................................................................................2
Description of the business.....................................................................................................3
Business products and services..............................................................................................3
Marketing activity..................................................................................................................3
Business operations................................................................................................................3
Management and organisational structure..............................................................................3
Proposal..................................................................................................................................4
Financial background.............................................................................................................4
Risk.........................................................................................................................................4
Conclusion..............................................................................................................................4
Documenting a plan for communicating the business plan to all relevant parties.................4
The process used to develop the business plan......................................................................4
Key stakeholders....................................................................................................................5
Information for each person...................................................................................................5
Relevant timeframes...............................................................................................................5
Way to communicate this information...................................................................................5

2
DEVELOP AND IMPLEMENT A BUSINESS PLAN
Ensuring understanding of their role in implementing the business plan..............................5
Part B..........................................................................................................................................6
Business Plan 1:......................................................................................................................6
Comparing and contrasting the business plan against the criteria for effective business
plans........................................................................................................................................6
Comparing the strengths and weaknesses of the business plan..............................................6
Completing a written report, detailing a critical analysis of the strengths and weaknesses of
the business plan.....................................................................................................................7
Comparing and contrasting structure and layout....................................................................7
Commenting on quality and relevance of information...........................................................7
Commenting on quality of information..................................................................................7
Commenting on quantity of information................................................................................7
Performance measures specific and realistic..........................................................................7
Document well set out, easily understood and pitched at an appropriate level for the reader
................................................................................................................................................8
Bibliography...............................................................................................................................9

3
DEVELOP AND IMPLEMENT A BUSINESS PLAN
Part A
Analysing and interpreting the current business environment, goals and objectives
The current business environment of Fast Track is restricted to being a small to
medium sized business. The geographic location is limited to the metropolitan area of
Sydney, as the company does not deliver goods outside the region. The marketing of the
company has been done using marketing sales, telephone and internet listing.
The goal of Fast Track can be divided into strategic as well as operational goals. The
strategic goal of the company is to expand and grow the business by increasing the profits
during the course of the next three years. The operational goals of the company are to provide
deliveries to the NSW region within 12 months. At the same time, the company aims to
increase the sales by 40% in the next three years.
The objectives of Fast Track are to expand the delivery routes so that it can reach
remote areas within the NSW region.
Documenting a business plan to assist the organisation to achieve its goals
Executive Summary
The business plan aims to assist Fast Track so that it can achieve its goals in the
business environment. The products and services of the company are provided along with the
financial background and the risks that may be incurred while implementing the program.
Introduction
The business plans provides a description of Fast Track Courier Company and the
business products and services that the company undertakes. The marketing activity of the

4
DEVELOP AND IMPLEMENT A BUSINESS PLAN
company is analysed along with the business operations that may assist the business. The
financial background and the risk of the company are analysed.
Description of the business
For the last 15 years, Fast Track Courier Company has been the leading package
delivery company in NSW. The reliability and value of money provides the business with the
reputation that is required for the success of the business. The company has been marketed
through direct sales, telephone and internet listing. However, the limitation of the company is
that it operates in the area of NSW.
Business products and services
Fast Track is a Courier Company that specialises in delivering packages that are either
medium or large size. The company targets small and medium sized business that makes
about 80% of the customer base.
Marketing activity
The marketing activity of the company is carried on through direct sales, telephone,
internet listing and mail-out. The customer satisfaction is ensured by telephone follow up.
Business operations
The business operations of the company are to deliver packages in the NSW region.
The goal is to expand the regional prowess and increase sales by 40% within the next three
tears.
Management and organisational structure
Fast Track is a family owned organisation in which three family members act as a
Management Board and approve every business decision. The composition of the company
includes managing director, logistics manager, 20 truck drivers and 5 office support

5
DEVELOP AND IMPLEMENT A BUSINESS PLAN
employees responsible for 4 departments like human resource, sales, accounts and
administration.
Proposal
The proposed business goal of the company is to ensure that business profits are
increased and delivery routes are expanded so that more regions can be reached.
Financial background
The current sales of the company amounts to $17 million while the current net profit
amounts to $1.9 million. The estimated sales of the company are about $22 million while the
estimated net profit is about $3.2 million.
Risk
Fast Track offers little opportunity to participate in learning and development
program as the employees often remain on the road for delivering products. This may be a
risk for the company as the rate of turnover can be high. Therefore, the risk of low employee
engagement can be mitigated by providing training opportunities both on the job as well as
off the job and recruit skilled employees that have knowledge both about sales as well as
managing the internal affairs of the company.
Conclusion
Therefore, it can be concluded that Fast Track Courier Company need to ensure that
employee engagement is increased so that the employee can remain motivated to work in the
company. The financial stability of the company can help it to recruit talented employees and
make efforts to retain their services.

6
DEVELOP AND IMPLEMENT A BUSINESS PLAN
Documenting a plan for communicating the business plan to all relevant parties
The process used to develop the business plan
The process that has been used to develop the business plan includes a proper analysis
of the internal and external factors that affect the business. The organisational capability of
the organisation and the ability to expand the business in the market were used for the
development of the business plan.
Key stakeholders
The key stakeholders of Fast Track include the small and medium sized organisations
that are involved in business activities with the company. Apart from these, the owners of the
business can be considered as key stakeholders as the company as they take major business
decisions.
Information for each person
Each of the stakeholders will require information regarding the external activities that
may hinder the expansion of the business and the internal capabilities such as the strength of
the employees and the motivational factors.
Relevant timeframes
The relevant timeframes for the spread of information includes a period ranging from
3 months to 6 months. The stakeholders need to be gathered and based on the interest of the
stakeholders strategies can be formulated.
Way to communicate this information
The information can be communicated via emails. In the modern world, every
business organisation uses internet to communicate with one another. Therefore, any changes

7
DEVELOP AND IMPLEMENT A BUSINESS PLAN
to policies and other business strategies can be communicated with the stakeholders via
email.
Ensuring understanding of their role in implementing the business plan
The stakeholders need to be provided with a theoretical training about the importance
of business plan and the proper implementation of which can lead to the success of Fast
Track. A classroom-training programme can be conducted to provide an idea about the
implementation of the business plan.
Part B
Business Plan 1:
Comparing and contrasting the business plan against the criteria for effective business
plans
An effective business plan provides an idea of the ventures that can be undertaken by
a business entity. In the case of the business plan undertaken by Quality Training, one of the
major factors that are missing from the business plan is the fact that it does not provide a
financial analysis of the company. For an effective business plan it is necessary that the
financial stability of a company be taken into consideration so that it can plan in the future
and ensure that proper utilisation of the finance is provided.
Comparing the strengths and weaknesses of the business plan
The strength of the business plan is that it provides with a perfect analysis of the
external and internal factors that affect a business. For example, the analysis of SWOT helps
to identify the threats and opportunities of Quality Training and the weak areas that need to
be converted into strengths. At the same time, a price strategy is also provided that helps in
understanding the manner in which the company aims to spend its savings. The competitor

8
DEVELOP AND IMPLEMENT A BUSINESS PLAN
analysis provides helps in strengthening the SWOT analysis as it is based on the strengths
and threats imposed by the competitors.
However, the weakness of the business plan is that it does not provide an outright
financial analysis. The price strategy of the company is provided without any current or
estimated sales of the business. The reason for this being a weakness is that it fails to provide
a summary of the expected sales and expenditure of Quality Training and the manner in
which the company can spend the income.
Completing a written report, detailing a critical analysis of the strengths and
weaknesses of the business plan
Comparing and contrasting structure and layout
The structure and layout of the business plan lacks the application of financial
information and the manner in which Quality Training can implement any financial resources
in a positive manner.
Commenting on quality and relevance of information
The quality and relevance of information regarding the application of the business
plan in the market is positively done. Background information of Quality Training can help to
understand the application of the business.
Commenting on quality of information
The quality of information provides a specific idea about the background of the
business and the strategies such as marketing analysis and the analysis of the competitors.
The services provided by the company are also stated.

9
DEVELOP AND IMPLEMENT A BUSINESS PLAN
Commenting on quantity of information
The information provided have one drawback, that is financial information of the
company has not been provided. Other information needed for a successful business plan is
provided.
Performance measures specific and realistic
The information regarding the performance measures were specific and realistic for
the understanding of the public.
Document well set out, easily understood and pitched at an appropriate level for the
reader
The document provided can be well understood by the people reading the business
plan. This can help young readers formulate business plans in a similar manner.

10
DEVELOP AND IMPLEMENT A BUSINESS PLAN
Bibliography
Berkenkotter, C. and Huckin, T.N., 2016. Genre knowledge in disciplinary communication:
Cognition/culture/power. Routledge.
Bocken, N.M., Short, S.W., Rana, P. and Evans, S., 2014. A literature and practice review to
develop sustainable business model archetypes. Journal of cleaner production, 65, pp.42-56.
Bohnsack, R., Pinkse, J. and Kolk, A., 2014. Business models for sustainable technologies:
Exploring business model evolution in the case of electric vehicles. Research Policy, 43(2),
pp.284-300.
DaSilva, C.M. and Trkman, P., 2014. Business model: What it is and what it is not. Long
range planning, 47(6), pp.379-389.
Habermas, J., 2015. Communication and the Evolution of Society. John Wiley & Sons.
Hovland, C.I. and Lumsdaine, A.A., 2017. Experiments on mass communication. Princeton
University Press.
Martins, L.L., Rindova, V.P. and Greenbaum, B.E., 2015. Unlocking the hidden value of
concepts: a cognitive approach to business model innovation. Strategic Entrepreneurship
Journal, 9(1), pp.99-117.
Mehrabian, A., 2017. Nonverbal communication. Routledge.
Saebi, T. and Foss, N.J., 2015. Business models for open innovation: Matching
heterogeneous open innovation strategies with business model dimensions. European
Management Journal, 33(3), pp.201-213.
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management.
Pearson.