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Business Plan and Business Strategy
A business plan is a summary and a plan of how a business owner, manager, or entrepreneur intends to organize an entrepreneurial endeavor and implement activities necessary and sufficient for the venture to succeed.
It is a written explanation of the company's business model.
Business plans are used internally for management and planning and are also used to convince outsiders such as banks, investors, venture capitalists to invest money into the company.
A business model describes how a business:
* Selects its employees and customers,
* Defines and differentiates its product offerings,
* Creates utility for its employees and customers,
* Acquires and keeps employees and customers,
* Goes to the market
* Defines the tasks to be performed,
* Develops a sustainable presence with respect to the environment and society.
* Configures its resources, and
* Captures profit.
The typical Business Plan parts
1. Introduction Section
This is the first impression that your future lenders will observe.
2. Executive Summary
Show what the company is doing and the future plans.
3. Company Plan
This is a factual review of the business.
4. Marketing Plan
This is the plan for the marketing for the company, segment markets and global marketing plans.
5. Operations Plan
The day to day operations of the company.
6. Financial Strategies
The company plan to manage and/or obtain money to keep the business up and running.
7. Supporting Documents/Appendices
Business plans are used internally for management and planning and are also used to convince outsiders such as banks, investors, venture capitalists to invest money into the company.
Business plans are noted for often quickly becoming out of date.
One common belief within business circles is that the actual plan may have little value, but what is more important is the process of planning, through which the manager gains a greater understanding of the business and of the options available.
Business strategies can be categorized in many ways.
One popular method is to assess strategies based on their degree of aggressiveness.
Aggressiveness strategies are rated according to their marketing assertiveness, their risk propensity, financial leverage, product innovation, speed of decision making, and other measures of business aggressiveness.
Typically the range of aggressiveness strategies is classified into four categories: prospector, defender, analyzer, and reactor.
Strategic management is the process of specifying a company's objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans.
It is the highest level of managerial activity, usually performed by the company's Chief Executive Officer (CEO) and executive team..
IBC team can assist you to arrange your business plan and help you with the right business connections.
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