Essay On Importance Of Business Plan – 768 Words | 123 Help Me

opinion essay

Starting a business can be easy or difficult, depending on how one will execute. The only key to make this endeavor to start a business work is to have a business plan.

In this essay, the author

• Opines that vision and mission are the first thing to take care of in any organizational endeavor. this indicates the direction of the company.
• Describes the basis of the idea for the business, who is responsible for it, and why it was created.
• Describes the short- and long-term goals of the company.
• Recommends a short biography for each member of the management. it should provide the names and backgrounds of every person at least.
• Explains that the exit strategy is a section that presents the alternative of the company.
• Recommends keeping in mind the people involved, the context of the business, and the possibilities of endeavor when considering the points enumerated above. this shall help in coming up with a great business plan.
• Explains that starting a business can be easy or difficult depending on how one will execute. a business plan is essential to make every goal and aim in the entrepreneurial world successful.
• Explains that a business plan is the first step in implementing any business. it lays down the aims as well as the details of the endeavor.
• Explains that the important elements of making the business plan will depend on the type of business being ventured on and what is intended by the entrepreneur.
• Opines that it is important to give special attention in presenting the products and services the company plans to offer, even at the planning stage.
• Explains that the business plan must also present the marketing strategy that shall be implemented. one must consider the proper promotional materials, whether it will utilize print, television, internet or the combination of all three.
• Explains that projections are like financial forecasts given for a target period. it may get technical as it includes spreadsheets, formulas and statements.

720 words

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explanatory essay

In order to bake the perfect cake, you need a great recipe, quality ingredients, and the optimal baking conditions, and even then perfection isn’t guaranteed. Live is uncertain and there is always a probability of failure regardless of the method. This definitely holds true for business as well. You can be the most able entrepreneur, with a great idea, and many resources, but your business could still under. However, preparation and a thorough understanding of the situation immensely increases the rate of success. “Strategy a View from the Top” by John A. Pearce Cornelis A. de Kluyver, reveals several techniques and aspects to consider when formulating a business plan.

In this essay, the author

• Explains the importance of a good recipe, quality ingredients, and optimal baking conditions in order to bake the perfect cake.
• Explains that every business plan starts with a business process. management process governs system operation, and business process reengineering is the analysis and design of workflow and processes within an organization.
• Explains that businesses use standardization to help with commoditization, compatibility, interoperability, safety repeatability or quality. business also uses the transfer technique, which is used in advertising and propaganda.
• Explains that starting a business is full of risks, including legal, political, and financial risks. horizontal and vertical integration are beneficial especially for companies that plan on going global.
• Opines that time is valuable and a huge determinant of success, but many fail to realize the importance of time in business.
• Opines that to win business, one must be resourceful, proactive, and ready to fail. time management can make or break a company.

726 words

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opinion essay

The management practices you can read about in our class textbook by Kinicki and Williams (2016, p. 136-146) offers information on many ways you can manage your business, as well as improving your management skills through planning. A successful plan as the author implied (p.136), is what gives your workers a guide. By setting goals through planning your business will have a guideline on how it should grow. The author talked about how in planning it is important to think about both the short, and long term (p. 142-143). If you are too concerned with the short term you may not succeed in the long term and that goes both ways. A well-put together plan can make sure that the business will succeed and grow in the future (p. 137). If you miss a

In this essay, the author

• Opines that a well-put together plan can make sure that the business will succeed and grow in the future.
• Explains brinckerhoff, p. c., “how to write your business plan”. nonprofit world, 17, 10-11.
• Summarizes the eight steps of a successful business plan, including cover page, table of contents, plan summary, description of business, marketing, financial plan and an appendix.
• Opines that having a business plan is the best way for any manager to begin their business as the article implied.
• Analyzes how being organized can be both good and bad. being organized is good because it keeps you up to date and makes your business easier to run.
• Explains that organization is what keeps a business running smoothly, and that time management is one form of organization that they like to use.
• Explains dasgupta, b., “5 ways to keep your workplace organised jobs.” the economic times.
• Explains that the economic times article talks about five different ways to keep your workplace organized.
• Explains that an organized workspace and schedule will save time, money and lead to more efficiency for the business.
• Analyzes how spender’s article explains the role of leadership in a business, stating that leadership requires uniqueness and values.
• Opines that being unique is a great attribute for leaders to have. henry ford’s model-t concept was not new, nor was he the first to create the car.
• Analyzes how the article talks about how members of the armed forces make great ceo’s and managers.
• Opines that a good motivational speaker makes employees feel like they have the ability to achieve anything.
• Explains that most managers are control freaks when it comes to their business. the article defines controls as specific parts of your company that keep from poor decision-making and careless behavior.
• Opines that having control as a manager is good because it gives employees the sense of what to do and keeps them on track and from making mistakes.
• Analyzes how bp’s control boss developed better controls after the deepwater horizon disaster in the gulf of mexico.
• States that controlling the training of your employees is key to having good management principles. the training process is usually when employees are first introduced to your business.

2422 words

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explanatory essay

The business plan will also be useful in facilitating the adoption of a strategy that will help the business prosper in the modern market. The plan will be a critical tool that will help in the production of a reliable strategy for attaining the goals and objectives. The proposed business plan will be implemented in three years time. Within the first three years, the business i…

In this essay, the author

• Explains that the company’s mission includes providing services that will enhance the client’s mental relaxation and physical appearance.
• Aims to have at least 15% of the total sales in new york city market within the first three years.
• Describes the objectives of establishing outlets in other markets in the world with the first three years.
• Explains that paradise beauty centre will use online means in selling its products. the business will offer attractive after-sales services to its customers.
• Explains that business competition is the main challenge that affects continuous growth and development of a business. paradise beauty centre will produce high quality and attractive products to cope with the vibrant competition level in new york city.
• Explains that business leaders plan to engage in detailed researches in order to understand the market demand and establish the most appropriate place to locate the business.
• Explains that paradise beauty centre will ensure that it has followed all the required registration procedures and abide by the existing rules and regulations that govern beauty companies in new york city.
• Explains that a qualified chief executive officer will manage the business operations, one financial officer who will control all business financial needs, and human resource manager will engage in the responsibility of recruiting and disciplining business staffs.
• Explains that paradise beauty centre will hire information technology experts who will have the key role of managing all the it activities and establishing reliable websites to facilitate effective interaction with business customers.
• Explains that the paradise beauty centre will be located on allen street in new york city. the business will have outlets in charles street and broome street.
• Explains that the business owner intends to use modern technology to succeed in the market. effective management of business risks will help in dealing with some of the threats that can hinder business’s performance.
• Explains that assumptions play a substantive role in facilitating effective projection of business outcome. the paradise beauty centre plans to increase its sales while reducing its operation cost.
• Opines that the proposed business plan will be of substantive importance in facilitating the operation of the paradise beauty centre.
• Describes eric s. siegel, brian r. ford, jay m., and bornstein’s “the ernst & young business plan guide new york, ny: john wiley and sons.”
• Explains pinson’s anatomy of a business plan: a step-by-step guide to building a business.
• Explains that starting a business requires detailed planning and intensive research. the paradise beauty centre will focus on the production and distribution of beauty products in united states of america.
• Explains that paradise beauty centre will capitalize in the production and distribution of beauty products in new york city.
• Describes paradise beauty centre’s vision statement, a realistic marketing plan, effective communication channels, and network services.
• Explains that the establishment of paradise beauty centre is based on the perception that attractive physical attraction is vital for individual mental, psychological, and physical health.
• Explains that paradise beauty centre will focus on the production of high-quality beauty products and will engage in extensive market researches to develop products that meet the demands of customers.
• Explains that the beauty market is one of the most competitive sectors in the modern economy. the industry has attracted business executives from various social and cultural backgrounds.
• Explains that the beauty market is developing at an encouraging rate, but the number of entrepreneurs is advancing at a threatening rate. the paradise beauty centre targets customers from middle social class.
• Explains that the competition level in new york city is relatively high compared to other cities in america. paradise beauty centre will use online promotion services to access its target customers.
• Explains that the paradise beauty centre intends to produce unique and high quality beauty products to increase its sales and market position.
• Explains that an effective overall strategy should include all stages assumed from the production of the paradise beauty centre to the consumption the produced product.
• Explains that the paradise beauty centre intends to lay its strong business foundation within the first year. the business will generate limited profit due to its huge management and operation cost.
• Summarizes reshetnikov, wasser, duckman, and tsukor’s medicinal value of the genus tremella pers.

3000 words

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opinion essay

The value of a business plan is not only the financial forecast and figures from previous years but it allows a leader to reflect, evaluate and analyze their business through a process. The development of a business plan allows the leader to look at the desired future of the organization and develop a road map, which a leader will ultimately use to set a course of action to accomplish the company’s desired goals.

In this essay, the author

• Opines that the video lecture from justin gold about his company, journey, and personal beliefs, which helped him achieve success in business, as an entrepreneur, was interesting.
• Opines that having passion is vital for a leader, since it produces energy among subordinates.
• Explains the value of a business plan, which allows the leader to reflect, evaluate, and analyze their business.
• Explains that mentoring is important for leaders because it allows them to receive coaching from someone who has travelled through similar experiences.
• Opines that john wooden’s quote illustrates why a team is so important for leaders. they must take time to evaluate and understand their shortcomings so they may hire and surround themselves with individuals.
• Opines that a successful leader uses these opportunities to reflect, evaluate, analyze, and create changes to learn and grow from these mistakes.
• Explains that strategic thinking is vital for an organization to maintain a competitive advantage, growth and improvement. leaders must examine problems differently to determine the foundation of an issue.
• Explains that a leader of an organization must dedicate resources to look for opportunities to promote innovation. by approaching opportunities with nontraditional thinking, they will create innovative solutions to capitalize on all identified opportunities.
• Opines that starting with the end goal in mind is an integral part of leadership and taking control of the direction of your business.
• Opines that it is important for leaders to pursue a balance between work and outside activities because of the impact it has on an individual and leader.
• Opines that self-discipline is vital for a leader because it forces them to complete tasks that may not come easy or natural to them.

981 words

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opinion essay

The value in a business plan is found not only within the financial forecast and within figures from previous years but it allows a leader to reflect and analyze their business or concept through a process. The development of a business plan allows the leader to look at the desired future of the organization and develop a road map, which will be used to accomplish the company’s desired goals.

In this essay, the author

• Opines that passion is an integral part of a leader. it produces energy among the employees and subordinates.
• Explains that a business plan’s value is found within the financial forecast and figures from previous years, and it allows the leader to reflect and analyze their business or concept.
• Explains that a leader must understand that no individual has the ability to do every job. however, the purpose of building teams is to take full advantage of individual strengths, which at the same time will make individual weaknesses irrelevant.
• Explains the value of a mentor or mentoring relationship within an organization bridges the gap between education and experience. mentoring allows leaders to be nurtured and coached by someone who has travelled through similar experiences.
• Opines that as a leader, it is vital that you are not paralyzed by analysis or in your attempt for perfection. a successful leader uses these opportunities to reflect and analyze and make changes to learn and grow from these mistakes.
• Explains that it is important for a leader for an organization focus on opportunities rather than problems. innovation is found with the analysis of opportunities.
• Opines that it is important for leaders to pursue a balance of work-life because it reduces stress and unhappiness.
• Opines that the video lecture from justin gold on his company, personal beliefs to develop success in business and as an entrepreneur was interesting and made them take a closer look at their leadership style, culture, and culture.

647 words

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explanatory essay

Studies have shown that one of the main reasons a new business fails is poor planning. To succeed a business plan is needed, the first step is to fully understand the business chosen. The next move is to consider how the plan will be used and the audience being targeted. After that is completed, a concise, comprehensive business plan needs to be created. This advice is just the starting place for Unique Babies.

In this essay, the author

• Explains that unique babies’ goal is to raise enough money to help contribute to purchasing equipment for local children diagnosed with asd and autism.
• Explains the five rules that one should follow to help them create the business name. the first rule is to keep it memorable and easy to spell.
• Explains leinhauser, jean, and the craft yarn council’s “yarn standards.”
• Opines that the ipad gives voice to kids with autism.
• Explains the idea behind unique babies, which is to create individualized, unique items for infants and young children.
• Explains how unique babies wants to raise money to help with the special educational needs of those with asperger’s and autism.
• Explains that creating a great name is important, but having enough stock to make the business rocket is also important.

2147 words

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explanatory essay

While all the excitement and anxiety in starting a small business may be overwhelming, the first step is to intelligently develop a well organized business plan. No small business expert would dare recommend starting a business without one, there is simply too much at stake. Invested Money, family, and potential employees are all on the line. However, “There is no single formula for develop…

In this essay, the author

• Explains that starting a small business is an american dream since the early 1800’s. however, it requires motivation, discipline, research, planning, and intelligence.
• Explains the importance of a well-organized business plan for attracting investment capital, securing loans, and luring strategic business partners.
• Explains the importance of choosing a business structure, which can have an impact on multiple aspects of the business, including taxes, liability, and ownership succession.
• Explains that the third step in starting a small business is naming it. the name itself functions as an advertising tool and customer lure.
• Explains that raising sufficient funds is an integral component of starting a successful business. having prior experience in the field makes this task easier and more accurate.
• Explains that the fifth step to a business’ overall wellbeing with government is paying government taxes and how taxes operate.
• Explains that an employer must recognize that every employee is valuable and adds to the group and in turn must be treated in a manner that reflects this respect.
• Opines that starting a business can take months and sometimes years, but with the right ingredients success is always abundant.
• Cites hayslip’s “the best advice around, from those who took it.” wall street journal.
• Explains the irs’ “starting a business” website, which is available at http://www.irs.gov/businesses/small/article/0.

1421 words

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explanatory essay

Planning is a key factor in the success of any business, and conversely, the failure to plan adequately is one of the fastest routes to business failure. There are many considerations that an entrepreneur must decide such as: type of business, legal structure, permits and licenses, market planning, business plan, location, organization management planning, business telephone line, mission statement, and a business checking account. There are many sources of information to help to start a business in an organized way, such as a business plan from the office of Economic Development & Planning located in the County Office Building, or books in that can be found in any library.

In this essay, the author

• Defines marketing as the planning, pricing, promoting, and placing of your product of service. general construction companies have an unusual marketing problem because they are hard to categorize.
• Explains that a well-thought-out business plan can be useful for begging business owners.
• Explains that planning is a key factor in the success of any business, and the failure to plan adequately is one of the fastest routes to business failure.
• Explains the importance of a logically arranged and reasonably complete business plan.
• Opines that location is a key to make money, and explains the importance of location, location and location.
• Explains that poor management is the number one killer of small businesses. organization and management planning consists of an operating structure with firm lines of authority, responsibility, and accountability clearly stated.

2617 words

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analytical essay

Importance of Strategic Planning

Strategic planning has a focus on stabilizing the current environment, and it also support the organization’s business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.

Strategic Planning

The key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment.

In this essay, the author

• Explains that strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization.
• Explains that strategic planning is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment.
• Explains that an organization is an open system and that the main sources for its success are in the outside environment.
• Explains that strategic planning allows a company to adequately respond to the factors of uncertainty and risk which are characteristics of the outside environment.
• Explains that since the future is impossible to predict and extrapolation used in long-term planning does not work, it is necessary to apply scenario, situational methods which fit well in the concept of strategic planning.
• Opines that for an organization to be able to adequately respond to the changes of the environment, its system has to have ability to adapt.
• Explains that there are many strategic steps in planning, such as cause and effect purpose, priority, failure mode, effects analysis, charts, hypothesis testing, etc.
• Explains that strategic planning has been rated as a power tool by nearly all managers in all industries and company sizes.
• Argues that strategic planning is a combination of intuition and art of setting and achieving goals by executive management based on analyzing and planning skills

1193 words

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