logo

Business Plan Sample Assignment

   

Added on  2020-12-29

16 Pages4555 Words217 Views
Preparation ofBusiness Plan

Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1BUSINESS DETAILS.....................................................................................................................1INDUSTRY AND MARKET ANALYSIS.....................................................................................1CUSTOMERS AND VALUE PROPOSITIONS............................................................................4MARKETING STRATEGY............................................................................................................4OPERATION PLAN.......................................................................................................................6MANAGEMENT TEAM AND COMPANY STRUCTURE.........................................................6RESOURCES..................................................................................................................................7FINANCIANG.................................................................................................................................8FINANCIAL PROJECTIONS.........................................................................................................8RISK AND STRATEGIC OPTIONS..............................................................................................8KEY MILESTONES.......................................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11APPENDIX....................................................................................................................................12

EXECUTIVE SUMMARYBusiness plan is a document that carry detailed information about the business which isgoing to be introduced. Mission, vision and strategic objective of the new venture are the maincomponents of a business plan. It guides the managers of the organisation to make appropriatedecisions so that the new business can be established successfully (Benson, Jordan and Huitema,2012). In this project report a new business plan for an Indian restaurant whose name is IndianDelight has been made. This restaurant is going to be launched in Muscat, Oman. Thisassignment aims at the business details, industry and market analysis, customer and valueproposition, marketing strategy, operating plan, management team and company structure,resources, financing, financial projections etc. Risks and strategic options have also beendiscussed under this report.BUSINESS DETAILSA new Indian restaurant is going to be launched in Muscat, Oman. The name for therestaurant is Indian Delight which is a new and innovative idea. This will help to capture largemarket area by serving Indian cuisine in Oman. More than 20% of Oman's population is Indianhence it is a great opportunity for the business to target those customers. Mission vision andobjective of the business is as follows:Mission: Indian Delights restaurant is willing to successfully establish its business inOman by providing good quality food items to the local public of Oman. Vision: Long term vision of Indian Delights restaurant is to be the first choice of theOmanis and capture larger market share by providing good quality food to them.Objectives: Main objective of the restaurant is to establish the business successfully inOman and fulfil the requirement of Indian food there.Exact location for the restaurant is Indian Delights, Mutrah Cornish – Opposite to SultanQaboos Port, Oman.INDUSTRY AND MARKET ANALYSISIndustry analysis: It is a tool that facilitates the companies to understand their positionin the market and also analyse the factors that may affect industry positively or negatively. It isvery important for the business enterprises to determine the profit which is going to be acquired1

in future. For Indian Delights industry analysis can be conducted with the help of Porter'sGeneric Model, which is described below:Porter's Generic Model:This model was introduced by Michael Porter. It is mainly usedfor the industry analysis perspective. There are four different strategies that should be consideredby the organisations who are going to launch the business in market (Bogers, Hadar and Bilberg,2016). Indian Delights can formulate strategies to achieve competitive advantage with the help ofthis model. All the strategies of this model are described below:Cost leadership: According to this strategy companies should launch products on lowerprices to the target market so that large market area of the industry can be captured.Indian Delights can get a success in Oman by setting low prices of all the dishes andlaunch the business in target market. If the restaurant is the lowest cost producer in themarket than higher profit can be acquired the same.Differentiation: It is suggested to the organisations to introduce products in market withuniqueness so that large number of customers get attracted. As Indian Delights is a newconcept and a unique idea hence it is possible that it can get success in less time in themarket of Oman. This strategy can be used by organisations when customers or targetsegment is not price sensitive if the food supplied by Indian Delights is unique thancustomers will not be worry about the price of the food.Cost focus: The organisations may choose to introduce their products in niche market sothat reaction of target market can be recorded on the service and quality of items that aresupplied to them. As Indian Delights is a new restaurant and it has no idea of industry'sconditions hence it can firstly launch its food in niche market and if the food is liked bythem than it may target a large market area (Campbell Jr, and Kresyman, 2015).Differentiation focus: For the new launching business this is the best strategy as itsuggests the companies to intrude their products with unique feature in niche market sothat competitive advantage can be attained. Indian Delights is can used this option whileintroducing itself in market by offering unique food to the niche market segment.From all the above mentioned strategies Indian Delights should select Differentiationsfocus strategy because it best suits to the organisation. As it is going to offer unique food to theOmanis and should introduce its food items in niche market so that their feedback can be used tomake future strategies to expand business. 2

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Preparation of Business Plan Assignment
|15
|4116
|240

CB 612 Business Plan for Delight Cream - Report
|24
|5584
|80

Assessment of Business Plan
|27
|4396
|57

Individual Project on Burger Space Limited
|16
|3362
|185

Business Plan Of Zabetta Dry Cleaning And Laundry Authors
|28
|4482
|227

Strategic Plans of United Finance Company SAOG - PDF
|17
|5326
|393