A Plan For A Business Plan Essay - 1571 Words

Introduction A business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a company that writes a business plan survives the initial five years. On the contrary, other authors believe that there is no link between business success and the original plan. Proponents of the business plan argue that it is a recipe for having a successful business (Chwolka Raith, 2009). Although the advocacy of the importance of having a plan for the business is rife, critics doubt if it is an activity worth undertaking for creating a success new venture (Bygrave et al., 2007). The researchers who subscribe to this school of thought question the importance of wasting time in planning, yet the business environment is dynamic. This essay analyses the literature on the importance of business plans in the success of start-up ventures. Literature review Debate persists in the literature of entrepreneurship on the importance of planning for the success of a venture. Delmar Shane (2003) examined how business planning affects three features of the growth of a new business. The aspects areShow MoreRelatedA Plan For A Business Plan Essay1573 Words   |  7 PagesA business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a company that writes aRead MoreA Plan For A Business Plan Essay1571 Words   |  7 PagesIntroduction A business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a companyRead MoreThe Marketing Plan For The Business Plan858 Words   |  4 Pagesimportant to protect it and continue the development and positioning it in the market. Therefore, there are numerous models of communication plans, the firm should use the one they find appropriate for them. In essence communications plans have several disciplines that interrelated and in synergy would support the business plan can create an effective communication plan with results potentially beneficial to the positioning of the br and. These disciplines are: advertising, paid search, social media, customerRead MoreMarketing Plan For A Business Plan1268 Words   |  6 Pagesare invested in making this a business not creating a hobby business for the sake of brewing beer. Therefore, a written business plan is in existence. A written business plan would have been required to secure the government loan. ï‚ · A business plan should be a working document, not created and then placed in a drawer. It should remain on the desk as a reminder of the objectives and goals set forth initially and revised as the business grows and adapts. Every business owner has a goal of profitabilityRead MoreBusiness Plan For An Operating Plan Essay898 Words   |  4 PagesThe operating plan provides detailed implementation guidance designed to accomplish corporate objectives. It details who is responsible for what particular function, and when specific tasks are to be accomplished. An important part of an operating plan is the forecast of sales, production costs, inventories, and other operating costs. Operating plan is a detailed making of a plan involving a company’s goals, objectives and mission within a specified time frame. The financial plan details the financialRead MoreMarketing Plan For A Business Plan1241 Words   |  5 Pages Marketing Plan As I navigated my way through the business plan provided to me by ChopSaver, I saw that they had a clear and concise marketing plan. Currently ChopSaver is sold online and in over 9,000 U.S. retailers, including over 7,000 CVS Pharmacy locations nationwide. When asked how they market their product, ChopSaver replied, â€Å"As a brand with a unique and authentic story behind it, we utilize both social media and public relations to tell the story. The musical part of the brand lends itselfRead MoreMarketing Plan For A Business Plan1159 Words   |  5 PagesFirst Things First: Before you start tutoring, it s important to create a business plan, determine your company’s specialization and create a company image that sets you apart from the competition and attracts your target market. Draw up a Business Plan and Name Your Business: Name your tutorial business if you have not already done so. Brainstorm a list of names with the help of friends, family members and business partners. Choose a name that stands out and communicates your business’s uniqueRead MoreMarketing Plan For A Business Plan1266 Words   |  6 Pagesingredients found in coconut oil. We pride ourselves on providing a high quality product that carters to our customers’ hair management care and enables them to grow health hair.† 2) Next, create an outline for a business plan by answering the following â€Å"nine questions every business plan should answer†: 1. Who is the customer? The customer is the party that will receives or consumes my products and has the ability to choose between different products and suppliers. The customers for my products wouldRead MoreBusiness Plan1172 Words   |  5 PagesBUSINESS PLAN ENTER YOUR BUSINESS NAME Enter your name July 17, 2008 SECTION 1: THE BUSINESS PROFILE Description of My Business (Session 1): Describe your product or service. Targeted Market and Customers (Session 1): Describe your customer profile and why customers want or need your product or service. Growth Trends In This Business (Session 1): Is the market for your product or service growing or shrinking? Pricing Power (Session 1): Explain the unique qualitiesRead Morebusiness plan1299 Words   |  6 Pagesï » ¿The Business plan LOTUS Sun-Block Cream The Business plan could take hundreds of hours to prepare, depending on the experience and knowledge of the entrepreneur as well as the purpose it is intended to serve m It should be comprehensive enough to give any potential investor a complete picture and understanding of the new venture and will help the entrepreneur clarify his or her thinking about the business. 1. Introductory Page: 2. Executive Summary 3. Environmental and Industry Analysis A Plan For A Business Plan Essay - 1571 Words Introduction A business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a company that writes a business plan survives the initial five years. On the contrary, other authors believe that there is no link between business success and the original plan. Proponents of the business plan argue that it is a recipe for having a successful business (Chwolka Raith, 2009). Although the advocacy of the importance of having a plan for the business is rife, critics doubt if it is an activity worth undertaking for creating a success new venture (Bygrave et al., 2007). The researchers who subscribe to this school of thought question the importance of wasting time in planning, yet the business environment is dynamic. This essay analyses the literature on the importance of business plans in the success of start-up ventures. Literature review Debate persists in the literature of entrepreneurship on the importance of planning for the success of a venture. Delmar Shane (2003) examined how business planning affects three features of the growth of a new business. The aspects areShow MoreRelatedA Plan For A Business Plan Essay1573 Words   |  7 PagesA business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a company that writes aRead MoreA Plan For A Business Plan Essay1571 Words   |  7 PagesIntroduction A business plan is a written document that acts as a roadmap for a start-up business. It has details on the resources and strategies that the new venture will undertake in the initial years (Chwolka Raith, 2012). The general belief is that for a company to be successful, it must begin by having a business plan. Published research papers have conflicting results on effects of a business plan for the success of start-up companies. On the one hand, some authors believe that a companyRead MoreThe Marketing Plan For The Business Plan858 Words   |  4 Pagesimportant to protect it and continue the development and positioning it in the market. Therefore, there are numerous models of communication plans, the firm should use the one they find appropriate for them. In essence communications plans have several disciplines that interrelated and in synergy would support the business plan can create an effective communication plan with results potentially beneficial to the positioning of the b rand. These disciplines are: advertising, paid search, social media, customerRead MoreMarketing Plan For A Business Plan1268 Words   |  6 Pagesare invested in making this a business not creating a hobby business for the sake of brewing beer. Therefore, a written business plan is in existence. A written business plan would have been required to secure the government loan. ï‚ · A business plan should be a working document, not created and then placed in a drawer. It should remain on the desk as a reminder of the objectives and goals set forth initially and revised as the business grows and adapts. Every business owner has a goal of profitabilityRead MoreBusiness Plan For An Operating Plan Essay898 Words   |  4 PagesThe operating plan provides detailed implementation guidance designed to accomplish corporate objectives. It details who is responsible for what particular function, and when specific tasks are to be accomplished. An important part of an operating plan is the forecast of sales, production costs, inventories, and other operating costs. Operating plan is a detailed making of a plan involving a company’s goals, objectives and mission within a specified time frame. The financial plan details the financialRead MoreMarketing Plan For A Business Plan1241 Words   |  5 Pages Marketing Plan As I navigated my way through the business plan provided to me by ChopSaver, I saw that they had a clear and concise marketing plan. Currently ChopSaver is sold online and in over 9,000 U.S. retailers, including over 7,000 CVS Pharmacy locations nationwide. When asked how they market their product, ChopSaver replied, â€Å"As a brand with a unique and authentic story behind it, we utilize both social media and public relations to tell the story. The musical part of the brand lends itselfRead MoreMarketing Plan For A Business Plan1159 Words   |  5 PagesFirst Things First: Before you start tutoring, it s important to create a business plan, determine your company’s specialization and create a company image that sets you apart from the competition and attracts your target market. Draw up a Business Plan and Name Your Business: Name your tutorial business if you have not already done so. Brainstorm a list of names with the help of friends, family members and business partners. Choose a name that stands out and communicates your business’s uniqueRead MoreMarketing Plan For A Business Plan1266 Words   |  6 Pagesingredients found in coconut oil. We pride ourselves on providing a high quality product that carters to our customers’ hair management care and enables them to grow health hair.† 2) Next, create an outline for a business plan by answering the following â€Å"nine questions every business plan should answer†: 1. Who is the customer? The customer is the party that will receives or consumes my products and has the ability to choose between different products and suppliers. The customers for my products wouldRead MoreBusiness Plan1172 Words   |  5 PagesBUSINESS PLAN ENTER YOUR BUSINESS NAME Enter your name July 17, 2008 SECTION 1: THE BUSINESS PROFILE Description of My Business (Session 1): Describe your product or service. Targeted Market and Customers (Session 1): Describe your customer profile and why customers want or need your product or service. Growth Trends In This Business (Session 1): Is the market for your product or service growing or shrinking? Pricing Power (Session 1): Explain the unique qualitiesRead Morebusiness plan1299 Words   |  6 Pagesï » ¿The Business plan LOTUS Sun-Block Cream The Business plan could take hundreds of hours to prepare, depending on the experience and knowledge of the entrepreneur as well as the purpose it is intended to serve m It should be comprehensive enough to give any potential investor a complete picture and understanding of the new venture and will help the entrepreneur clarify his or her thinking about the business. 1. Introductory Page: 2. Executive Summary 3. Environmental and Industry Analysis