Business Plans

A business plan is a very important part of creating a business. This plan includes things such as marketing strategies, an analysis of the competition, development plans, operation and management plans, an explanation of your legal structure, and financial projections.

19,166 Questions
Business Plans
Netherlands
Management and Supervision
Organizations

Organizational structure of finbank Nigeria plc?

The Managing Director/Chief Executive Officer of FinBank Nigeria Plc. is Mr. Suzzane Iroche, updated in 15 Sep. 2009. Mr. Okey Nwosu is the former Managing Director.

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Business & Finance
Business Plans
Companies
Business Networking

Who owns public companies?

Mainly Shareholders

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Business Plans

What are the types of business environments?

There are mainly two types of business environments, internal and external. The external environment can further be classified into task and macro/generalenvironments.

Internal environments contain the owner of the business, the shareholders, the managing director, the non-managers/employees, the customers, the infrastructure of the business organization, and the culture of the organization.

For the external environments, the task environment is divided into competitors, consumers, substitutional product producers, and the prospective enters of business.

The macro/general environment is further divided into political and legal, economical, social and cultural, technological, natural/ecological, demographic, and global.

Businesses can control internal environments, but it's hard to control external environments.

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World War 1
Germany in WW2
Business Plans

Who said those who fail to plan plan to fail?

Time said and proved that those who fail to plan will not succeed eventually. Please let me know if you need clarifications :)

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Business & Finance
Business Plans
Business Law
LG Corporation

Is lg a private limited company?

L G Electronics India Private Limited is a Non-govt company, incorporated on 20 Jan, 1997. It's a private unlisted company and is classified as'company limited by shares'. ... The company last updated its financials on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA)

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Business Plans
Business Law
Companies

Can a company director sue his own company?

yes, as the company is a legal entity, and it can be sued by the director if the shareholders of a company use the company as the alter ego of the shareholders.

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Jobs & Education
Business Plans
Business Communication
Electronics

What are the advantages of using the internet as the infrastructure for electronic commerce and electronic business?

The Internet gives every seller an opportunity to advertise their wares no matter their size or location. It also gives the stocking seller the opportunity to have direct access to the buyer with out going through profit taking middle men.

Brokers, the grey market, have used the information they collect as their bargaining tools and their mode for gaining profit.

With the internet making the who and where available to everyone the Broker is left with little to offer.

highlight some advantages of e-commerce in business organization and do advantage out way limitations. The biggest benefit would be that you would have a much larger audience to sell your products or services to where if you just had a brick & mortar business you would only be selling to the local community.

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Business Plans

How do you write a business plan?

Writing a business plan can be the most fun part of starting a new business. First you must think of what your business will be, what do you want it to do for you and what do you want it to provide for others. Next set yourself some goals and work towards them one at a time, for instance, getting your business licensed.

Business Plan WritingHere is advice on writing business plans from the Federal Consumer Information Center and the Small Business Administration:Before you start your plan, carefully research and answer these basic questions:
  • What niche or void will my business fill?
  • What services or products will I sell?
  • Is my idea practical, and will it fill a need?
  • Who is my competition?
  • What is my business's advantage over existing firms?
  • Can I deliver a better quality service?
  • Can I create a demand for my business?

Once you've determined that your small business idea is feasible, answer these questions:

  • What skills and experience do I bring to the business?
  • What will be my legal structure?
  • How will my company's business records be maintained?
  • What insurance coverage will I need?
  • What equipment or supplies will I need?
  • How will I compensate myself?
  • What are my resources?
  • What financing will I need?
  • Where will my business be located?
  • What will I name my business?

If you are starting a home-based business, you should answer these additional questions:

  • Does my home have the space (preferably separate) for a business?
  • Can I successfully run the business from my home?
  • Can I deal with the isolation of working from home?

Your answers to these questions will help you create a focused, well-researched business plan that should serve as a blueprint. The plan should detail how the business will be operated, managed and capitalized.

Some questions you will be able to answer on your own. Others will require careful research. There are many sources available to help you find the answers and make informed decisions. These sources include:

  • Small Business Administration (SBA) business information centers, located throughout the country;
  • counseling with business veterans through SCORE members affiliated with the SBA;
  • trade association studies, journal articles and trade shows;
  • regional planning organization studies on growth trends;
  • banks, realtor and insurance companies; and
  • customer surveys in your market area, which you can conduct on your own, or which may already exist.

Your business plan should cover the business basics from goals to management, from marketing to operations. A business plan is a blueprint for success, so don't scrimp on the details. A good business plan covers the following areas:

  • Describe in detail the business and its goals.
  • Identify the business ownership and the legal structure.
  • Discuss skills and experience you and your partners bring to the business.
  • Identify the advantages you and your business have over your competitors.
  • Explain how the business will be managed on a day-to-day basis.
  • Discuss hiring and personnel procedures.
  • Discuss insurance, lease or rent agreements, and issues pertinent to your business.
  • Account for the equipment necessary to produce your products or services.
  • Account for production and delivery of products and services.
  • Describe your product or service.
  • Identify the customer demand for your product or service.
  • Identify your market, including its size, location and demographics.
  • Explain how your product or service will be advertised and marketed.
  • Explain your pricing strategy.
  • Explain the source and amount of initial financing.
  • Estimate start-up costs.
  • Project operating expenses.
  • Develop a monthly operating budget for the first year.
  • Develop an expected return on investment and monthly cash flow for the first year.
  • Provide projected income statements and balance sheets for a two-year period.
  • Discuss your break-even point.
  • Explain your personal balance sheet and method of compensation.
  • Discuss who will maintain your accounting records and how the records will be kept.
  • Provide "what if" statements that address alternative approaches to problems that may develop.

Here are more opinions and answers:

One of the more common subjects that new business owners ask about is "how to write a business plan."

To help you with this task, let me first clarify what business people usually mean when they use the term "business plan," and then provide some suggestions and point you to resources that you can use to make the work of writing a business plan easier and more successful.

Defining Three Types of Business Plans:

People use the term "business plan" to refer to three distinct items: a firm's overall strategy and road map (which I'll call here a strategic plan), the 10- to 20-page document that entrepreneurs use to promote a new venture to investors and other key stakeholders (which I'll call here a new venture plan), and the 20- or 50- or even 100-page document that a new business owner uses to prove to him- or herself and others that he or she has thought carefully about starting or growing a business (which I'll call here a white paper plan).

How to Write a Business Plan: Strategic Plans:

I talk about business strategic planning in another short article on my website, so I won't repeat that discussion here. Let me note here, however, that a strategic plan is something quite different from a new venture business plan or a white paper business plan.

How to Write a Business Plan: White Paper Plans:

If you want to write a white paper plan, know that this process is well documented elsewhere. You can get a detailed outline for a white paper plan (in both English and Spanish), for example, from the United States federal government's Small Business Administration website at the Related Link.

If you have access to Microsoft PowerPoint, you should also know that PowerPoint's AutoContent Wizard supplies a detailed template for creating a white-paper-style business plan presentation.

How to Write a Business Plan: New Venture Plans:

If you want to write a new venture plan, you take a different approach. New venture plans, boiled down to their very essence, answer the following five questions that prospective investors need to answer in order to decide whether they should invest:

  1. Is a firm's product or service feasible? For example, can the technology really be developed? Is the necessary legal and regulatory approval obtainable? Does the process work in practice? Obviously, if a firm is already operating, this question doesn't need to be asked and answered. But for many types of new ventures - especially technology companies - the question does need to be discussed.
  2. Do customers want the product or service? In other words, is there true demand? This might sound like a silly question, but potential customers ignore many interesting and seemingly useful products and services.
  3. Is the basic transaction profitable? In other words, will people pay a price that produces a profit? Customers might want products and services that firms can't afford to provide.
  4. Is the return on investment adequate? Even profitable businesses might not be feasible if they require too much capital relative to the profits they generate. New ventures not only need to be profitable, but they also need to produce acceptable returns on investments. This return-on-investment measurement might be measured with either an internal rate of return (which is probably most common), or a net present value (which is most accurate). Note that an input to any return on investment calculation - the investment required to start the venture - is also an important factor in any prospective investor's deliberations.
  5. Can the management team operate the business? Even if you can answer "Yes" to the first four questions, that's not really enough. A new venture will probably fail if the management team lacks the skills to successfully run the business. So the last part of a new venture plan needs to describe the management team and why they're likely to succeed. The ideal answer to this question is, of course, to be able to show through past performance that the management team has successfully run a similar business.

I think you could use these questions as the highest level headings in a new venture plan. The only other headings you might want to add to such a new venture plan would be for an introduction and an executive summary.

Final observations about new venture plans:

First, it's very unlikely that an entrepreneur can honestly answer "Yes" to all five questions.

Many new venture plans do, of course, give "Yes" answers to all five questions. But I suggest that an honest answer such as, "We don't yet know," or "It depends on future developments," will attract better and more sophisticated venture investors and increase your chances of success.

I also note here that in the recent dot.com hysteria, many new ventures were funded even though they could honestly answer "Yes" to only the first question. (Of course, many shouldn't have been funded, but that's another topic.)

Second, answering "No" to any of the five questions means the new venture won't work. Each of the five questions is a link in the chain of success. Break a link and the chain breaks, too.

(The government's Small Business Administration has an online business plan template - refer to links below.)

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Small Business and Entrepreneurship
Business Plans
Economics

What is pest analysis Political Economic Social Technological analysis?

The Pest Analysis or Political, Economic, Social and Technological is a framework to analyze the external impact on an organization. For example, when I say conduct a PEST analysis on a small barber shop in town. Then we can say that in terms of Politics, government actions or laws can have an impact on the business. For example, the govt may increase tax for barbers around the town. In terms of Economics, we can say that the Purchasing Power or Income level in the area, can influence your business in terms of revenue or cost. You just need to know that PEST is a tool for analysis. It's called PEST, to simplify it and it's less burdensome on the memory. It's also important to know that in business, it's not the only tool for analysis. Others include SWOT. These models can also evolve or phrased differently, the latest one is called SPELT. Hope this helps. (cheong@bgymail.gd.cn)

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Software and Applications (non-game)
Computer History
Business Plans

Discuss the various phases of a compiler briefly?

Briefly discuss the History of C programming. Include also the updated program of C programming.

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Business Plans
Database Programming
Project Management

Why is delegation an important management concept?

No one person can do it all. It is important to share the work around and to make sure that subordinates can do the work and the business can functions when the management are not there, on holiday or leave the organisation. It is important to consider succession planning and to look at growing some of your next managers from within (otherwise your best staff will not see any promotion opportunities). It is a good way to provide on the job training and to see what people are capable of outside their day job. It is good sometimes to have new ideas and not just rely on the same old faces. Some jobs are best suited to certain people and that is the way organisations should run. People can feel appreciated when they are given other roles.

One important point to keep in mind is that delegation is no excuse for abdication. Making someone responsible for an aspect of the management of the business is a fantastic way to build the skills base of the company and enhance the loyalty of employees. The downside is that sometimes, managers see delegation as just get on with it now that you have the responsibility but a good manager will still keep up to date on progress rather than just abdicating responsibility. Get the balance right and a business can fly.

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Small Business and Entrepreneurship
Business Plans
Industries and Professions
Paper Production

What is a small scale industry?

A small scale industry is a business or project is created on either a small budget or for a small group of people. For instance if someone starts a laundry service just around their neighbourhood, that is small, not too expensive to start or manage but not too cheap either. Another example is a small pizzeria or a kiosk or say a moving around with an ice-cream van, these are types of small scale industries.

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Business Accounting and Bookkeeping
Business Plans
Marketing Advertising and Sales

What is penetration-pricing strategy?

Penetration-pricing strategy is used to build market share by obtaining profits from repeat sales. Occasionally, high sales volume allows sellers to further reduce prices.

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Business Plans
Bowling

How much does it cost to start a bowling alley?

The price can depend on a number of factors, such as if the property is purchased or leased, how many lanes, if scoring needs to be purchased, etc.

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Business Plans
Business Accounting and Bookkeeping
Budgeting and Forecasting

What was the budget of Inception?

USD$160 million

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Investing and Financial Markets
Business Plans
Business Accounting and Bookkeeping

What is the jaw effect in financial terms?

It is when your revenue growth is faster than your cost growth.

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Business Plans
Mission Statements

What is UPS vision statement?

"As the world's largest package delivery company and a leading global provider of specialized transportation and logistics services, UPS continues to develop the frontiers of logistics, supply chain management, and e-Commerce ... combining the flows of goods, information, and funds."

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Small Business and Entrepreneurship
Business Plans
Management and Supervision

What is Andrea Jung's management style?

to emphasize open communication, goal orientation, and feedback from her sales force.

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Business Plans
Agnosticism

Funeral rites for agnostic faith?

Agnosis comes from the Greek. gnosis means knowledge. The prefix a means "without". Agnosis means you simply do not KNOW if a God or Supreme Power exists. Faith requires "belief". Belief is about not having proof.

*********** previous answer below ***************

Pretty much by definition, being agnostic is not a faith. Many humanist societies have developed humanist funeral and wedding ceremonies.

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Business Plans
Project Management

What do you do after a feasibility study?

A feasibility study essentially determines the strengths and weaknesses of a business proposal. The output is normally a series of options or recommendations, ranging from do nothing, right through to technical development and project implementation, delivery and support. Importantly the feasibility study should also include the evaluation criteria, list of assumptions, study findings and context in which the study was run. As often happens, something considered not viable today, can often become viable with changing circumstances in the future. Always useful to keep those feasibility studies, because they can often be dusted down, updated and given a new lease of life in future. Feasibility studies can be considered a companies intellectual crown jewels, and should be treated as such.

Usually, after a feasibility study, the company may decide to initiate/execute projects

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Business Plans

Definition of product based company?

A product based company is a company that uses, electronic transactions for business purposes. They commonly combine both advertising and company products to help create an income for the company.

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Humor & Amusement
Business Plans

Is JRD TATA use y theory in his business?

Yes Of course!!!

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Small Business and Entrepreneurship
Business Plans
Marketing Advertising and Sales
Business Ethics

What is Google's business plan?

to acquire Exxon.

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Business Plans
Cooking Equipment
Angus Cattle

How can you find restaurants that are going out of business and selling their equipment?

Go to your local newspaper, and search for the right place for you or use your local craiglist.

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Business Plans
Mission Statements

What is the mission statement of Sony corporation?

In a recent letter to shareholders, the Sony corp. said it is it's mission "to become a leading global provider of networked consumer electronics, entertainment and services."

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