BM564 Enterprise and Entrepreneurship Business Plan

This business plan covers TBCS, a UK based organic and skin care company which offers various products related to skin and health care. It covers STP and competitor analysis, skill analysis, profit and loss account, cash flow, and management information system. The company's vision is to serve organic and healthy beauty, hair and skin care products across the world.

BM564 Enterprise and
Entrepreneurship
Business Plan

Contents
INTRODUCTION...........................................................................................................................4
TASK...............................................................................................................................................4
Product Description.....................................................................................................................4
Target customers..........................................................................................................................4
Competitor analysis.....................................................................................................................5
Skills Analysis.............................................................................................................................6
Profit and Loss account and Cash flow.......................................................................................6
Finding, evaluating and selection of source of finance...............................................................7
Plan for obtaining resources........................................................................................................8
Management Information System................................................................................................8
Company’s vision........................................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
A business plan may be referred as a document which depicts objectives, mission and vision of
an organisation (Lin, 2018). It is imperative for company to frame business plan so that
employees can be aware about their roles and responsibilities they have to perform. It becomes
easier for company to achieve organisational goals effectively and efficiently. This project report
is TBCS, a UK based organic and skin care company which offers various products related to
skin and health care. It will cover a business plan of company along with STP and competitor
analysis. In addition to that, it will cover skill analysis, and profit and loss account as well as
Breakeven point. At last it will cover type of management information system used by company.
TASK
Product Description
Company have proposed an organic hair care solution for all age group who are facing issue
related to hair. It will help people in caring all hair related issues such as dryness and dandruff.
Products available in market are chemical based and may damage hair permanently. It can lead
to many hair problems along with existing issues. Companies are using harmful chemical for
making their products but TBCS is using organic substance and affiliated by government. It
shows results from first week after use and does not harshly effect on hair. It also helps in
promoting growth of hair and reduces dandruff. All the products are used in this product are
chemical free and this attracts larger customer base and this attracts larger customer base. In
order to commence business, company have completed all documentation regarding
commencement of business. It has its own trademark and patent so that no other business can
copy its brand name.
Target customers
The target customers of company are those people who are facing issue of dry scalp, hair dryness
and dandruff. Company targets people of all age groups which helps company in generating
more profit. In addition to that, it attracts to those people who opts organic products rather than
chemical based products. It is human tendency to get top quality product but by paying minimum
price. This pricing strategy is opted by company so as to attract customers (Li and Jiang, 2022).
It is important to conduct market research so that company can identify customer needs and
wants and based on that formulate strategy to capture larger market. It becomes complex for

company to just launch product as it may lead failure too. So, it is imperative for company to
formulate strategy that drives towards attainment of organisational objectives. The USP of
products is that all ingredients used in products are herbal and not have any side effect on body.
This attracts customers to buy products. Company have conducted a market research and
analysed that customers are looking for beauty and wellness products who does not have side
effect on body. From this research, company gets an idea of developing an organic product that
can meet customer expectation regarding their problems. So company have decided to launch
hair care solution which can solve many problems related to hair.
Competitor analysis
It is important for company to conduct competitor analysis so that it can help company in
framing of strategies by assessing strengths and weaknesses (Torrellas Darvas, 2020). By taking
weaknesses into consideration, company can make effective management strategies so as to
remain competitive in dynamic business environment. The two competitor of company are The
body shop and the Best Cosmetic shop. Both the companies are two biggest rivals of firm and
dominate each other in market. Both companies offer similar products but the main problem is
that they do not conduct market research and only sells evergreen products. This creates difficult
in retaining customers and do not bring innovation to their products. This advantage can be taken
by company and it can remain competitive in cut throat competition. The market share of both
companies are nearly about 70% of people who are fond of organic products. The pricing
strategy of both the company is competitive marketing strategy and company can take advantage
of penetration pricing strategy. The Body shop sells its products on international market too and
it becomes easier to capture international market. Company can use digital marketing so as to
engage with more and more customers and in delivering better customer experience by offering
better products (Virakul, B. and Russ-Eft, 2019). In addition to that, both the competitors do not
have a large variety of hair care solution and this draws them back in capturing larger market. As
this market is untouched by both companies and company can take advantage of it and can
capture market. This will help company in generating more profit by engaging with more and
more customers. One company have higher market share and other have wider range of products,
this can help company in understanding current market scenario and in framing of strategies. It is

important for company to assess competitor analysis so that opportunities can be captured in
market.
Skills Analysis
In order to elevate business growth, it is needed to have relevant skills that contributes in
development of business. There are various skills needed such as critical thinking and
interpretation skills required that needs to carry out functions of business and in promoting
growth. By applying critical thinking to business, it can help in solving various business related
problems. It is important to eliminate obstacle that came in way of success of an organisation. It
also helps company in taking effective decision which takes company towards attainment of
goals. In addition to that, interpretation skill is also important as it facilitates in better decision
making (Lipowska, 2019). There are various sources by which company can collect data and
based on that creates insights for making decision. Without correct interpretation, data collection
is useless. Due to dynamic business environment, it is important to interpret data so that effective
decisions can be made. This will contribute in fulfilment of organisational objectives. These gaps
can be filled by conducting training and development sessions so as to make employees more
productive towards work. Along with this, interpretation skill can be enhanced by reading
various business case studies and interpretation of solution so as to get correct knowledge. It is
important for business to recruit skilled employees who can contribute their efforts in promoting
overall growth.
Profit and Loss account and Cash flow

Cash flow statement
Finding, evaluating and selection of source of finance
The enterprise can take funds from various sources to grow or expand their business. The main
sources of funding where the company can take funds are detailed below-
Bank loans- It is an important source of finance to companies and charge a high rate of
interest from its customers. To take a loan from the bank, the firm has to pay interest and
the amount of loan in a specified period.
Joint ventures financing- It is a source of financing which helps the business to grow faster
and can access to new markets. If the firm can take finance from joint ventures, they can
have a limited lifespan and the firm has to offer the partner's services or products to their
existing customers.
Loan from family or friends- When the company take loan from family or friends, the
interest payable is less than the bank's interest. This type of loan is more flexible as
compared to bank's loan.

After evaluating with the sources of finance, the loan taken from family or friends is a best
source of finance for the business to grow or expand. As compared to the bank's loan interest, the
interest charged by the family or friends is less and the business can pay interest and the amount
of loan according to their preferences.
Plan for obtaining resources
It is important for company to allocate its funds in acquiring resources which contributes in
attainment of organisational goals (Yip, Michalek and Whitefoot, 2022). In order to expand
business, it requires capital for acquiring both tangible and tangible resources. It is important for
company to opt right resources or it will not provide maximum effectiveness. Following are
some resources that company needs in future.
Resources Cost
Desktop $1000
Tech software $200
Additional capital $5000
All the above resources will be used in further expansion of business and facilitates in
accomplishment of objectives. It is crucial to have working capital as it facilitates in smoother
functioning of business. Company can manage its daily operations by having sufficient working
capital. It is needed to have a desktop and communication software that helps business in
communicating with its internal as well as external stakeholders.
Management Information System
In order to carry out and monitor all activities of company, it is needed to have a management of
information system that aligns activities towards accomplishment of objectives (Alva and Bhat,
2018). The MIS opted by company is Process Control System and this will help company in
monitoring all activities in such a manner that results in fulfilment of objectives. In addition to
that, it will also help company in tracking all activities and in taking corrective measures so as to
attain organisational success.

Company’s vision
The company have a vision to serve organic and healthy beauty, hair and skin care products
across the world.

CONCLUSION
From the above project report it was concluded that business plan plays an important role in
achieving success for an organisation. It guides and directs workforce as well as depicts their
roles and responsibilities. There are various elements that are needed to be considered while
framing business plan. It includes competitor analysis, breakdown of cost and target market.

REFERENCES
Books and Journals
Alva, H. and Bhat, S., 2018. Accenture–Understanding Sustainable Business Strategies.
International Journal of Case Studies in Business, IT and Education (IJCSBE), 2(1), pp.54-63.
Berl, R.L., 2020. Introduction to Public Relations and Fund Raising. In Cases and Select
Readings in Health Care Marketing (pp. 469-483). Routledge.
Competitor analysis-
Li, L. and Jiang, L., 2022. Saving costs and improving selling through competitor cooperation in
sourcing. European Journal of Operational Research, 302(3), pp.970-982.
Lin, O.C.C., 2018. Business Model And Business Plan (pp. 25-32). World Scientific Publishing
Co. Pte. Ltd..
Lipowska, K., 2019. Sources of financing small and average enterprises with particular emphasis
on high risk fund (Doctoral dissertation, Kolegium Nauk Ekonomicznych i Społecznych w
Płocku).
Sources of fund-
Sustainable business plan-
Torrellas Darvas, M., 2020. Business plan and implementation of a manufacturing, distribution
and retail business model (Master's thesis, Universitat Politècnica de Catalunya).
Virakul, B. and Russ-Eft, D.F., 2019. A model for business responses to global challenges and
sustainable development. Social Responsibility Journal.
Yip, A.H., Michalek, J.J. and Whitefoot, K.S., 2022. Implications of Competitor Representation
for Profit-Maximizing Design. Journal of Mechanical Design, 144(1).