Assignment
Imagine you have recently started a small business. The business could be a retail shop or a service organization in a busy locality. You have already invested some amount of money but, you need more to develop and grow your business. In order to apply for a bank loan, you need a business plan and some relevant details that bank requires. You believe it would be a great idea to present your business plan to some senior officials in bank.
Complete the presentation task and please do the necessary research through internet
Chosen Business- Burger King
1. Part 1: Basic elements of business plan
i. Briefly describe what the organisation does, its goals and objectives, its products or services, its size and its competitors.
ii. How would you plan to gather and research information for your business plan?
iii. Who are your key stakeholders and how would you identify them?
iv. Identify the financial, human and physical resources for your proposed business.
v. How do you manage licensing, regulatory and insurance requirements?
2. Part 2: Marketing and financial plan
i. Title (name proposed for the business, entrepreneur's name, contact address and other co-ordinates)
ii. Organisational structure of the proposed business
iii. Brief description of key products or services
iv. Write basics of marketing plan (Hints : market research, identify your customers, target market, positioning, strategy and budget)
v. Write basics of financial plan (consider one time start-up costs, regular monthly expenses, planned income, cash-flow projections, loan repayments etc)
vi. Conduct a simple SWOT analysis in relation to your business.
3. Part 3: Monitor performance
i. How would you communicate your business plan to relevant parties?
ii. What skills your staff should possess to effectively deliver the duties?
iii. How would you identify and use financial and non financial performance indicators?
iv. How would you monitor the performance? (Develop a quality control/checking system, staff performance appraisal, customer feedback etc)
v. How would you support and coach your team?
vi. How would you evaluate the team's effectiveness?