Business plan is a tool that can be used in a number of ways. Discuss the way you think a business plan would be useful to you. (i.e.:What can you do with your business plan? How long do you think it will take to develop it completely? Who will be the intended audience? Etc.)
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Business plan is a tool that can be used in a number of ways. Discuss the way you think a business plan would be useful to you. (i.e.:What can you do with your business plan? How long do you think it will take to develop it completely? Who will be the intended audience? Etc.)
Step by step
Solved in 4 steps
- Make a short/mini business plan by filling up the table, make a vision of your business, note this is just a planCreate an introduction to your business plan. It must contain a business model and business concept. (My business is all about the trendy clothes)Directions: Answer the following: 1. Explain the meaning of a business plan. 2. Discuss the goals of a business plan. 3. Describe the reasons for developing a business plan. 4. Explain the essential elements of a business plan.
- 1. Why is business plan important when planning a business? 2. Why is knowledge about the structures of markets in which the firms operate important? How could this be of help to you in order to understand the differences in prices and services? 3. What is the importance of a business plan?(1) Why is it important to identify critical risks andproblems in a business plan? (2) Many expertssuggest that you write the business plan yourself,rather than hiring a consultant to write it for you. Whyis this a good idea?A major reason for developing a business mission statement is to attract customers who give meaning to an organization. True or false?
- What is a business model, and its importance? Highlight the difference between standard and disruptive business models. Examples of the standard and disruptive business models must be included. You may choose to focus either on the Barringer/Ireland Business model template or the Business model Canvas (popularized by Alexander Osterwalder).REFLECTION: If you're thinking about starting a business, most likely you have dreamed of one that involves your interests. But, what does the market need or want? Do you know who is buying what and how much, or how, where and why they are buying those goods or services already? Determining the marketability of your start-up business is typically done in the context of creating a business plan and performing an analysis of your competition. It requires research into areas of marketability,Business plan should describe where the entrepreneur is, where they want to go with the company, and how they plan to do so. Select one: True False If you are an entrepreneur, you will be your own boss. Select one: True False Business Plan acts as a guideline for the entrepreneur and integrates all elements of the business. Select one: True False
- What are the eight elements that should be included in the executive summary of a business plan?1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…Current Business Strategies Report In order to bring current examples of strategic issues and problems into the class, each student will present a current business strategies report. The report should be drawn from one specific news article in the business press and should deal with a topic within the last 12 months. The article(s) should highlight the strategic issues facing a particular firm or industry and should be directly related to specific topics of this course. Your oral report should include the following points: (specific guidelines to be reviewed in class) A very brief review of the key facts of the article- what it’s about; why it’s interesting; why it’s important Identification and explanation of the key course concepts, tools, topics that this report relates to.