Business Plan Development and Analysis

The assignment focuses on developing a detailed business plan. It involves analyzing the existing market, identifying opportunities for a new agency, and outlining strategies to attract customers. The plan also includes financial projections based on tax and interest rate considerations. Additionally, the assignment emphasizes personal objectives by highlighting how the business plan contributes to skill development, knowledge enhancement, and career growth.

REFLECTIVE STATEMENT
1

REFLECTING STATEMENT
Reflective statement is a statement that portrays readers thoughts on a specific topic. It shows
learners learning experience that has been gained after conducting a research project thoroughly.
This statement describes insight and analysis of the historical experience or events which has been
occurred while carrying out an specific investigation by the researcher. Every research project
renders a vast amount of knowledge for the researcher. Reflecting learning is about realizing what an
individual has gained from a particular project. This business plan has been a very constructive and
intellectual journey for me. It has not been possible without the support of my mentor, friends and
family. It has helped me in developing my certain skills. It is expected that it will contribute in my
personal as well as professional development. Preparation of the following business plan has helped
me in gaining profound learning and knowledge which will remain forever in me.
Learning experiences
Prepared business plan investigated the feasibility of new training and development agency,
“Optimaservices” which will facilitates corporate clients to enhance their workers competencies and
productivity to achieve their targets. I experienced different feelings or experiences while preparing
such business plan to start a new venture. Feelings develops different set of attributes in an
individual. In the present business plan, I experienced mixed feelings at each and every stage. In the
inaugural step, I was very much confident and highly excited to prepare a business plan and gain
desired results through it. At the initial stage, I thought to start a new venture in the market. But still,
I was very aware that it was very difficult task for me to initiate a new business in the present
competitive age. Therefore, in order to generate a better plan, I investigated the current industrial
trend and assess the importance of training and development services in the corporate sector. It
enable me to identify major trends and challenges of the industry and develop a excellent business
plan to start a new venture. Through the secondary investigation of the market, I gained knowledge
of the services which are rendering by the existing training and development agencies. I selected to
start “Optimaservice” because I analysed that in the present business sector, almost all of the
organizations regardless their sizes are organizing training sessions for their workers to brings
significant improvements in the workers skills, talent and efficiency and thereby meet targets. While,
carrying industrial analysis, I have identified several gaps pertaining to the industry which indicated
opportunities for starting-up a new venture.
In this business plan, I studied large number of historical scholarly articles and analysed real
2

market situations. With the assistance of this, I became able to identify the need of corporate clients
and prepared plan accordingly to meet their desires and needs effectively. It helped me to identify
the complexity of establishing a new venture in the present competitive business world. Moreover,
in the study, I got very much surprised when founded real facts and figures about currently operating
training and development agencies in UK. In such analysis, I determined that staff training is of
huge importance which is organizing by large number of corporations to improve their workers
competencies and productivity. Further, through this, I examined the rising demand of the corporate
clients for conducting specialised training programs to deliver proper support, guidance and
knowledge to the employees regarding their work. By the study of various articles, I improved my
critical thinking skills to start a new training and development agency, “Optimaservice”. In-depth
discussion, analysis and study of available information assist me to present my ideas as a business
plan. In the turbulent competitive environment, organisations caters to have profound competency in
their skills and talents that will endeavour to have high growth and development. It becomes
imperative to adopt the strategy and methodology that will lead to towards the optimization of
resource use and earn high profitability. Further, frequent transitions in the customer choices and
preferences, economic fluctuation, problems arising due to diversification of workforce and various
employees related issues seek the training and development services in the crucial manner. For that
purpose, this business plan is prepared that aims to an integrated strategy for delivering effective
training. The plan with the structured and systematic approached focus on the resolving of different
aspects related to it such as learning and development, performance management and succession
planning.
Barriers to learning
At the initial stage the selection of the topic was quite difficult activity for me. I was
struggling to decide which way I should go. After having a healthy discussion with my mentor and
friends I decided to opt for business plan. The major challenge was to become innovative. For that
purpose I was required to choose a business which has never been attempted to implement. Giving
Training and development services for corporate clients is not an easy thing to do. It is expected that
this project will achieve its aim and objectives. I also faced several problems, particularly in the
area of market research. At this, I have assessed several positive and negative aspects in relation to
my work. Hence, by working on such aspects I become able to polish my skills which will help me
in performing the future activities and functions more effectively and efficiently.
At the initial level, I was hesitated to do such plan due to the problem in the collection of
3

data. Later, I collected data from authenticate sites which ensures that data of business plan is
highly reliable. By making in-depth research I found that there were few sites which offered me
highly reliable information. This is one of the positive situation of this business plan. However,
when I evaluated available industrial data, I faced several difficulties or barriers and became
frustrated also. But still, as I gathered wide range of information, I motivated and encouraged
myself to carry out the study and develop a business plan in the best possible manner. Moreover, I
felt self-motivation to launch the prepared business plan in the real business world in an effective
manner. In addition to this, by having adequate support and guidance of the tutor, I felt very much
confident to construct a business plan in precise, reliable and suitable way. Henceforth, all such
adopted methodologies helped me to overcome barriers and completed my business plan with the
high level of comfort by generating enough amount of information which is required for it. In
addition to this, I have also faced difficulty in making internal and external analysis of industry due
to the unavailability of data.
Professional and employability development skills
Personal and professional development is an essential part of life. The business plan has
contributed in my personal as well as professional development. It will teach an individual how to
gain the reflective learning from the specific study. In the business plan, I examined and analysed
the negative as well as positive aspects of the project. It provides me huge assistance to increase my
skills, knowledge and ability to carry out an investigation effectively. With regards to this particular
business plan, I gained different types of skills from this business project. These includes skills
related to communication, time management, integration, language and many more. Further I also
realize how decision making skills of my can be improved and enhanced. From this report I
improved my analytical skills. I get to know that how environment of a particular industry can be
scanned and evaluated. For that purpose I learned the use of different models such as SWOT,
PESTEL, Porter Five Forces etc. I learned the application of these models and applied them in the
real life situation. It was quite challenging for me as I have never acquainted with them earlier. In
this manner I improved my analytical skills. These kind of skills are very crucial for personal as
well professional development. As a researcher one has to be very analytic and cognitive. Further,
such project have also developed my research skills to the large extent. Through this, it I understand
the way through which valuable information can be extracted from internet. This skill will provide
assistance to me in building my career or future more bright. Moreover, in the present era, research
is the vital part of the each and every field. Thus, with the help of such skill I can accomplish my
goals and objectives more effectively. Besides this, my level of understanding towards such topic is
4

also developed. In the data collection process, I gathered industry specific knowledge, competition
level, corporations desires, needs and wants etc. It brought significant improvements in my skills
and knowledge regarding the industry.
Apart from this, I have learned key aspects of financial; analysis. Moreover, viability of the
business plan is highly dependent on the outcome which will be earned by the organization from the
specific project. Hence, I learnt the ways of projection in relation to the cash flow and income
aspects. Time management skills of mine have also been developed. In the present business plan, I
was assigned with the responsibility to accomplish it within the suitable time frame. This skill will
also offer high level of benefits to me in both personal and professional life. In addition to this, it
also improved my innovative, creative and lateral thinking skills because I focused to start a new
training and development agency, “Optimaservice” which will be different from the existing
agencies. So that, the proposed business will be able to compete effectively in the market by
attracting greater customer base. Through this, I became able to get desired aims and objectives
through conducting the study thoroughly. Further, this research has strengthened and updated my
knowledge in relation to tax, interest rate etc. All theses informations facilitates effectual projection
of the cash flow and income statement. With the help of such data or information I become able to
make projections more effectively and efficiently. Hence, through the critical thinking ability I have
analyzed each and every aspect of the business plan in the best possible manner.
Personal objectives
Now, training and development becomes the most essential aspects of business organization.
Thus, I can get recognition in the new business organization by showing better or in-depth
understanding toward such topic. By conducting these plan, my skills and knowledge level
enhanced in comparison to the previous aspects. I have learnt the ways in relation to deal or coping
up with situation of difficulties rather than give up. Due to the problems in data collection I was fed
up. This situation has developed ability in relation to dealing with every kind of situation. Along
with this, I also made positive efforts foe learning each and every aspect in an appropriate manner.
Hence, such positive attitude helped me in accomplishing the business plan within the suitable time
frame. Further, my academic level of knowledge also helped me in doing financial analysis in the
right direction. Along with this, my skills in the field of finance are also improved through such
business plan. Hence, my skills, abilities and competency level has been developed with the help of
such business plan. Moreover, it offered opportunity to me to learn new-new concepts which help
me in performing future activities with the high of efficiency and knowledge. All these factors helps
me in ensuring bright career path by making me able to get better employment opportunities in the
5

leading organizations.
Apart from this, I have framed list about the factors which will help me in own development
by making a personal development plan (PDP). On the basis of the business plan, I identified that I
need to make focus on improving my data collection skills. Along with this, I also need to work out
on the ways of developing marketing plan and research. All these aspects are the vital part of
research which I require to improve in order to perform much well and thereby make personal
development. Further, I have also identified that for the effectual execution of the business plan
knowledge towards the industry is highly required. Thus, in the next business plan primarily I will
make thorough analysis of the market or industry. With the help of such knowledge or information I
would become able to present the fair view of the study to the significant level.
6

7

8