Study on Develop and Implement a Business Plan
Added on 2020-05-16
25 Pages5291 Words48 Views
Business Development
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Running head: DEVELOP AND IMPLEMENT A BUSINESS PLANDevelop and Implement A Business PlanName of Student:Name of University:Author’s Note:
DEVELOP AND IMPLEMENT A BUSINESS PLAN1Table of ContentsAssessment 1- Analyse a business plan...........................................................................................3Selection of two business plan.........................................................................................................3Comparison and contrast of business plan.......................................................................................3Comparison of strengths and weakness of the business plan..........................................................4Assessment 2 – Develop a business Plan........................................................................................5Executive Summary.........................................................................................................................5Introduction......................................................................................................................................5Description of the Business.............................................................................................................5Business products and services........................................................................................................6Marketing activity – the market.......................................................................................................6Business operations.........................................................................................................................6Management and organizational structure...................................................................................7Financial Background..................................................................................................................7Risk Analysis...............................................................................................................................8Licensing......................................................................................................................................9Conclusion...................................................................................................................................9Communication Plan.....................................................................................................................10Assessment 3- Monitor and performance......................................................................................11Identification of key performance objectives............................................................................11Testing of performance measurement systems..........................................................................11Assessment 4- Responding to the performance data.....................................................................11Answer to Question 1................................................................................................................11Answer to Question 2A.............................................................................................................12Answer to Question 2B..............................................................................................................12
DEVELOP AND IMPLEMENT A BUSINESS PLAN2Answer to Question 2C..............................................................................................................13Answer to Question 3A.............................................................................................................13Answer to Question 3B..............................................................................................................13Answer to Question 3C..............................................................................................................13Answer to Question 4 A............................................................................................................14Answer to Question 4B..............................................................................................................16References......................................................................................................................................17List of Appendices.........................................................................................................................19
DEVELOP AND IMPLEMENT A BUSINESS PLAN3Assessment 1- Analyse a business plan Selection of two business plan The two-business plan selected for analysis are “Jolly’s Java and Bakery (JJB)” which is abakery business plan and “Mahogany Western Wear” which is a clothing retail business plan.Comparison and contrast of business plan ParametersJolly’s Java andBakery (JJB)Mahogany WesternWearGood text book structureand layoutThe business planhas followed abasic structure bystating necessaryinformation aboutthe company,products andservices, themarketandfinancialconsiderations.Business plan for clothingto do business hasincluded a companyownership structure alongwith all the other basictopics such as startupfinancial information,product description,technology used andfutureproducts(FeatherstoneandFeatherstone 2015).Quality and relevantinformationThe informationprovided in thebusiness plan isseen to be relevantas per the legalrequirementsprevalent in thestateofWashington.The business plan hasincluded every detail ofits competitors and salesliteratureGood market analysis andrisk analysis Themarketanalysis is done bya brief research onthe present bakerybusiness in SouthWashingtonDistrictThe market analysis isdone by depicting primarytarget customers andsecondarytargetcustomersSpecific and realisticperformance measures The data providedis absolutelyrealistic in natureThe data is relevant to thepresent standing ofHouston, TX in southwestHouston, TX
DEVELOP AND IMPLEMENT A BUSINESS PLAN4Understandability andappropriateness, welldocumentedThe business planis easy tounderstand for anyindividual eventfrom non-financialbackgroundThe business plan hasshown significant use ofstatistical information andgraphs which requiresintermediate knowledgeof financial data (Thébaud2015)Comparison of strengths and weakness of the business planThe strength of Mahogany Western Wear includes a detailed analysis of sales, gross marginand net profit for three years. However, it suffers from a very high breakeven point of $ 117000by month in sales. The main recommendation is seen with improving gross profit margin.The strength of the Jolly’s Java and Bakery is identified with a sound personal plan which isable to control the total payroll cost for two years. However, the business plan suffers fromincreasing current liability in the subsequent years. The recommendation for the bakery businessis discerned with putting an augmented focus including a monthly sales forecast (Thébaud 2015).Assessment 2 – Develop a business PlanExecutive SummaryThe study aims to relate business services, market activity, “Productivity and performancetargets for key result areas, Financial and Non-Financial Performance measures” and evaluationof resource requirements such as human resource, capital and equipment. The forecasts haveincluded total start-up cost of the development activities with an amount of $ 14871600 andequipment cost of $ 25220000. In addition to this, the profit percentage is discerned with 9.79 %in the first year, 14.35% in the second year and 23.41 percent in the third year. The total salesamount for breakeven is depicted with $ 588000.IntroductionThe business plan is related to a courier company named Fast Track Couriers. Some of themain interpretations of the report will include identification of business services, market activity,performance and productivity targets for “key result areas”, “Financial and Non-Financial
DEVELOP AND IMPLEMENT A BUSINESS PLAN5Performance measures” and evaluation of resource necessities such as human resource, capitaland equipment. The report also aims to show the management and organizational structure alongwith financial background. The latter part of the study has included a risk analysis andinformation on licensing procedure. In addition to the aforementioned sections, the developmentof this business plan is followed with a sound communication plan which is discussed about thestakeholder’s information, timeline, method of communication and monitoring procedure(Thomas et al. 2014).Description of the BusinessFast Track Couriers operating in “New South Wales” for last 15 years is seen to be providingpackaging services from medium to large sized packages in metropolitan Sydney region. Thebusiness is considered to be having a target market of small to medium-size business whichmakes up 80% of the customer base (Pauceanu and Pauceanu 2016).Business products and servicesThe main business products and services of the company is seen with logistics and packagingservices for small and medium-sized business in the Sydney metropolitan area. The deliveryservices will comprise of several types of special packaging considerations for perishable items,fragile items and regular items. The containers will be designed in a specialized way to ensurethat for the delivery of perishable items such as food, vegetables and dairy product the businessas Emperor number of reefer containers. Similarly, for fragile items the packaging is done withmore care and specialized packaging techniques (Snedaker and Rima 2014).Marketing activity – the marketThe marketing channels are put to use with direct sales, mailing, Internet listings andtelephone. The company ensures that the customers are followed up on regular basis viatelephone, which ensures the world satisfaction of the business proceedings
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