Engineering Management: Business Plan Analysis and Evaluation Report

This report provides a comprehensive analysis of two distinct business plans: one focused on recycling waste materials and the other on manufacturing aircraft equipment. The analysis delves into the strongest and weakest components of each plan, evaluating their potential for success. The recycling plan's strengths include customer availability and a unique product, while weaknesses include inadequate market analysis and marketing. The aircraft equipment plan highlights a strong product and financial planning, but lacks marketing and has a limited demographic focus. The report offers suggestions for improving both plans, emphasizing the importance of financial planning and market analysis. Additionally, it identifies challenges encountered during the planning process, such as formulating financial sections and making future projections, and provides recommendations to overcome these obstacles. The report concludes with lessons learned and an indication of competencies gained through the analysis and evaluation of the business plans.

Running head: ENGINEERING MANAGEMENT
Engineering Management
Name of the student
Name of the University
Author Note

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Table of Contents
Introduction......................................................................................................................................3
1. Analysis and Evaluate the Two Business Plan............................................................................3
1.1 Analysis and Evaluate on Recycling Waste Materials Business Plan...................................3
1.1.1 Brief Description of the Recycling Waste Materials Business Plan...................................3
1.1.2 Strongest points of Recycling plan.................................................................................4
1.1.3 Weakest components of Recycling plan.........................................................................5
1.2 Analysis and Evaluate on Aircraft Equipment Maker Business Plan....................................6
1.2.1 Brief Description of Aircraft Equipment Maker Business Plan.....................................6
1.2.2 Strongest components of Aircraft Equipment Maker Plan.............................................7
1.2.3 Weakest points of the plan..............................................................................................7
2. Suggestions to Improve Business Plan........................................................................................8
3. List of Challenges and Recommendations to Overcome.............................................................8
3.1 List of Challenges..................................................................................................................8
3.2 Recommendations to Overcome the Challenges...................................................................9
4. Lessons learnt about Business Plan.............................................................................................9
5. Indication of Competencies......................................................................................................10
Conclusion.....................................................................................................................................11
References......................................................................................................................................12

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Introduction
This particular study is firmly focus on analysis of two different business plan namely Recycling
Waste Materials Business Plan and Aircraft Equipment Maker Business Plan. The main aim of
this report is to find out strongest components and weakest components. The relevant suggestion
of to improve the selected business plans.
1. Analysis and Evaluate the Two Business Plan
1.1 Analysis and Evaluate on Recycling Waste Materials Business Plan
1.1.1 Brief Description of the Recycling Waste Materials Business Plan
The business of recycling waste materials is a very coveted and popular one that has the
chance of growing in the future (Panko, Sharma & Fuemana, 2014). This business will help in
generating more revenue as well as keeping the nature clean. People are facing a lot of problems
regarding the wastes and their proper disposition (Yoada, Chirawurah & Adongo, 2014). The
business plan regarding the recycling of the wastes includes collection, recycling and proper
marketing the wastes taking from the municipality waste processing plants. This is done to let the
consumers use them as a consumer good. The strategy of the business plan is to meet two critical
needs of the customers and people of the society at large. This can give the municipalities a cost
effective and feasible alternative in the process of land filling the waste. It can also help by
meeting the demands of the various types of fertilizers and organic soil enhancers. The material
is the human waste sludge that will be recycled as per the business plan. The recycled waste is
targeted to the nurseries, farmers, golf courses, fertilizer manufacturers, landscapers, government
agencies and others.

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1.1.2 Strongest points of Recycling plan
Point 1: The first strongest point of the plan is that customers are available at both ends
of the supply chain for the product to be developed. The municipalities will be benefitted from
this service of the company because of the alternative means of waste disposal. Other customers
who will be benefitted from this business plan are the fertilizer manufacturers, landscapers,
homeowners, nurseries, turf farms, golf courses and the federal government. This will help in the
achievement of the competitive advantage through the proper implementation of the plan. There
are certain factors that the plan will take into consideration for gaining competitive advantage.
The price of the compost product is very less than that of the chemical fertilizers. The plan
provides an advantage of selling the products to the government in the HUB Zone locations. The
various certifications shall give additional advantages in selling the products to the government
and other customers. People will be benefitted as the wastes are recycled and new products are
formed. The municipalities will be benefitted from the disposal issues and will have the waste for
the landfill space (Matter et al., 2015). The service helps in recycling of the wastes and saving
the valuable landfill space.
Point 2: The second strongest point of the plan is the product and the service that will
help the customers and the company as well in terms of competition. The product is very unique
and helps in keeping the nature very clean. The product is able to satisfy the needs of most of the
customers. There has been an increased trend of the customers to move from the traditional
chemical based fertilizers to more organic one. The company will be offering the products
through the process of receiving the human sludge and recycling it with the help of organic
composter. The sludge will be converted into compost material that will be safe for the
agricultural applications. The human waste sludge is increasing very rapidly and the recycling

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process will help in the reduction of the waste and create a new product that will be beneficial for
different types of customers.
Point 3: Another strongest component of the plan is the proper formulation of the
financial budget. The budget will help in the identification of the current available capital,
anticipating the revenues and estimating the expenditures. It is regarded as a planning tool. A
budget will help in identification of whether the company is doing good or not.
1.1.3 Weakest components of Recycling plan
Point 1: One of the weakest components of the business plan is the absence of adequate
market analysis about the demand of the product. Improper market analysis will lead to problems
in meeting the needs of the customers.
Point 2: Another weak point of the plan is the absence of proper marketing of the
products. The company is not utilizing the various marketing tools effectively. Since the product
is new and many people are not aware of it, proper marketing activities need to be conducted to
make them aware (Taylor, Bogdan & DeVault, 2015). The governments are also not aware about
it and there can be problems in issuing of the various certificates. This will be a time consuming
process and the business may take some time to start.
Point 3: Another critical weak point can be the lack of proper understanding and analysis
of the strengths and weaknesses of the plan (Entwistle & Ramsden, 2015). This can have serious
impacts on the business as the company will not be able to take the advantage of the strengths
and take adequate measures on the weaknesses.

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1.2 Analysis and Evaluate on Aircraft Equipment Maker Business Plan
1.2.1 Brief Description of Aircraft Equipment Maker Business Plan
This is a very unique business plan for any start-up companies. As per the plan, a start-up
company will be making medical interior equipment for the aircraft operators as well as the
hospital flight programs. The company will be designing complete, cost-effective and thoughtful
medical interior solutions and take the sub-contracting of some of the manufacturing of the
equipment (Blum, 2017). The business plan is formulated to accomplish four critical and
significant objectives that can assist the company in increasing more profit in the business. The
final objective is to fulfill the need of developing a comprehensive marketing plan as well as a
promotional campaign.
The company will be targeting the aircraft operators and the hospital flight programs in
the home country as well as in the international market. These are the two segments that are
having the highest market potential. The company will be reaching the segments through various
promotional activities like distributing leaflets, brochures, sending direct mails, advertisements
in trade publications, through website and ecommerce and conducting a demo unit. The company
has planned to assemble a strong management team in order to execute the business plan. It plans
to leverage the competitive advantage through product innovations and price competitiveness.
The first advantage is the use of aluminum frame that will help in the creation of strong and light
unit (Hirsch & Al-Samman, 2013). It will be easy to assemble them. Another advantage is the
built in storage device that will lead to maximization of availability of precious space. Another
plan of the company is the employment of glide ease stretcher system that can make the entry as
well as the exit very easy. The units are designed in such a way that they will be compact, safe
and efficient.

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1.2.2 Strongest components of Aircraft Equipment Maker Plan
Point 1: One of the strongest component of the plan is the product which is has a high
market need. The main frame is made up of aluminum and is key for the design of the aircrafts.
The components of the aircrafts can be built with composites that will be light in weight
(Wulfsberg et al., 2014). The components made up of aluminum and composites will be
corrosion resistance and can have high flexibility. They also have dimension stability.
Point 2: Another advantage of the plan is the strong financial planning. It will facilitate
the collection of optimum funds required for the effective running of the business (Kuhn et al.,
2017). The budget plan has been formulated very well. Proper financial planning will help in
deciding how the funds will be allocated for the different resources. The company has done the
projected profit and loss that can occur in the business. The break-even analysis has also been
done very carefully in the business plan that will provide an additional advantage (Leigh &
Blakely, 2016).
Point 3: Another factor of advantage is the strong market analysis that has been done
before making the business plan. It helped in understanding the needs of the customers, the
airplane companies who will be benefitted out of the components that will be made of aluminum
since it will be resistive.
1.2.3 Weakest points of the plan
Point 1: One of the weak points of the plan is the lack of proper marketing of the
products (McDonald & Wilson, 2016). The companies will not be able to know about the
products being manufactured by the company. It requires proper marketing activities and this
was lacking for the company. It failed to market the products properly.

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Point 2: Another weak point was the demographic (Finch, 2016). The plan for the
business was made only for the people of Australia. It could have been even more effective if the
business plan was made thinking about the people at home as well as the international market.
Point 3: Another critical factor that can be considered as a weak point is the lack of
creation of a proper management team (Kerzner, 2013). It will lead to problems in proper
implementation of the plan and create a good market. The team is responsible for all the critical
functions of the business.
2. Suggestions to Improve Business Plan
There are some of the factors that need to be considered while preparation of business
plans. It should be considered whether the plan fits the business need. The financial planning
must be done very carefully since based on this planning; the allocation of money is done on the
different resources of the business. The profit and loss should be estimated properly so that the
business operations can be properly carried out (Coase, 2013). Another point of measure is the
realism that signifies whether it is possible to implement the plan and manufacture the products
(Fleischmann, Meyr & Wagner, 2015). The companies should invest properly in the resources so
that the maximum revenue can be generated (Kirzner, 2015). They should keep a track of the
results on a regular basis so that proper measures can be taken accordingly.
3. List of Challenges and Recommendations to Overcome
3.1 List of Challenges
There were a number of challenges that have been come across while doing the business
plan. The first challenge was how to start the planning for the business. A team of experts was

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formed and discussion was made with them about formulating the plans. Another challenge was
the formulating the financial section including the preparation of the budget (Karadag, 2015). It
is a very difficult job to make further projections for the future. Some of the financial analysts
were consulted and the details of the plan were narrated to them so that it becomes for them to
make the financial plan. There was also a challenge in making a proper market analysis about the
need of the product to be manufactured for the business. Some market researchers were hired and
proper analysis of the market and the needs of the customers were found out.
3.2 Recommendations to Overcome the Challenges
Following are the recommendation to overcome the mentioned challenges in both
business plans –
Brainstorming the Ideas: The business planning team should analysis the entire plan and
their overcome. By brainstorming the ideas, plan can be successful as well as challenges can be
mitigated.
Development of Emotional Roller-coaster Resilience: This idea will help in building
repetitive concepts among the employees. It will help in mitigating disappointment, regroup,
focus better than previous time around.
4. Lessons learnt about Business Plan
The five lessons that have been learnt about business planning are being described in
details below. These are market analysis, financial budget planning, marketing activities, and
proper description of the product or the service by which the company will be doing business and
proper description of the management team. The market analysis will help in proper

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identification of the opportunities in the marketplace (Babin & Zikmund, 2015). It also helps in
the reduction of different types of risks. The recent trends of the market can be determined in
proper analysis of the market. Another important part of business planning is the marketing
activities so that people get to know about the product and services. Financial budgeting is
another important component of business planning that creates a financial roadmap for the
business (Cassidy, 2016).
The estimated profit and loss of the business can be ascertained through an effective
financial planning. The expenditures can be limited through this process. Proper description of
the products and services is important in a business plan. The planning regarding the product
description helps in knowing the product lifecycle, prices of the product, sales and distribution
strategies and how the product will be able to satisfy the needs of the customers (Rushton,
Croucher & Baker, 2014). The last factor that has huge importance in the business planning
process is the creation of an effective management team (Jeston & Nelis, 2014). The strengths
and weaknesses of the people in the team need to be properly estimated so that the functions,
roles and responsibilities of every person can be ascertained (Goeman, Renehan & Koch, 2016).
5. Indication of Competencies
It has demonstrated the various competencies in making the two business plans. It has
successfully applied the marketing strategies so that the customers can be reached at ease and
make them aware about the products of the business. The promotional activities of marketing
have been formulated very efficiently so that the products can reach to the customers quickly and
in various forms like newspapers, articles, journals, magazines, television ads and many other
media. The plans have been created very carefully and sensibly so that the people of the society

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at large get benefitted out of it. The recycling process will help in the minimization of wastes and
creation of new products that will be beneficial to the people. The manufacturing of the aircraft
components will also help the companies in various ways. It has been also demonstrated the
competency of financial planner who has significant contributions for the making of the financial
budgeting. It is an important part in contacting with the experts in formulating the marketing
strategies and the financial planning. The ideas have also been put forward by me. Hence, it
showed much of the competencies in building the two plans so that people get benefitted out of
it.
Conclusion
From the above analysis, it has been identified that waste recycling business plan also
entails to offer service to the waste processing plants that are owned by the municipalities. The
plants are facing a lot of issues regarding the human waste sludge disposal. As per the business
plan, the company is entering a niche market since human waste sludge has not been recycled on
a sizeable scale earlier. The first goal of the plan is to obtain Supplemental Type Certification
approval from the FAA. The second goal is getting an initial prototype of the whole design. The
third one is the need for securing the approval of the parts manufacturer.

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References
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Blum, J. K. (2017). A Clean Break: Fuerza Laboral's Quest to Incubate a Cleaning Cooperative
in Rhode Island (Doctoral dissertation, Tufts University).
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877.
Entwistle, N., & Ramsden, P. (2015). Understanding Student Learning (Routledge Revivals).
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Fleischmann, B., Meyr, H., & Wagner, M. (2015). Advanced planning. In Supply chain
management and advanced planning (pp. 71-95). Springer Berlin Heidelberg.
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role for people with dementia and their carers? A systematic review. BMC health services
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Hirsch, J., & Al-Samman, T. (2013). Superior light metals by texture engineering: optimized
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Karadag, H. (2015). Financial management challenges in small and medium-sized enterprises: A
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practice. Sage Publications.
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