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the elements of a business plan - Coggle Diagram
the elements of a business plan
Market Analysis
An account of the market that might include details of the size, the compeition, the target customer, market trends and future developments. Some indication of maret research might be present.
Product or Service
A detailed overview of the goods to be sold and the markets to be launched. The focus should be on how products / services meet market demand and how this differs from any competition. It may include any patent, copyright or trademark.
Executive Summary or Basic Information
This is short and contains the business name, a brief history, the legal structure, the product or service being sold, the resources needed and where these will come from, and a quick statment about hopes for the future. It will contain a brief statment of the purpose and the objectives of the business.
Marketing Plan
This is often an account of the marketing mix the business will use. This will tell interested people where the product/service will be positioned in the market. It will include detail about the price, the promotion methods to be used, the way the product/service will be distributed to the target customer and what selling methods will be used. This section will focus on how the business will meet the needs of its customers.
Production Plan
This section will tell readers how the product/service will be produced. It will include any patents held, the premises and equipment needed, details of suppliers, and how quality will be maintained.
Organizational Plan
This section deals with the people in the business. It might include names, abilities, and experience. It will show how people will be organized and managed and include training arrangements. There might be an organizational structure diagram.
Financial Plan
The key part of the section will be a monthly cash flow forecast for one-two years, suing information drawn from all the other areas of the plan. There will also be a profit and loss forecast. This will enable the financing needs to be clearly defined.
2 advantages for a small business to use a business plan
a small business to use a business plan can help them to improve the sales which can increase the profits for the business. Because they are small businesses, it is very important to be competitive in the market, which helps them develop in the future and avoid bankruptcy.
a small business to use a business plan can help them to avoid some fatal problems because they will think more specific when they set a business plan. when they set a business plan, they will combine some predictions and informations from the market together.
2 advantages for a well-established large business to use a business plan
a well-established large business to use a business plan can help them to manage the company and motivate employees. because when a company sets a business plan, every worker will know what they should do next and the company will also easy to do the management because everybody in the company has the same goal to achieve and everyone is get together.
a well-established large business to use a business plan can help them to expand the company and increase the profits. because a well-established large business have already had competitive power. at this time, their goal is to maximize their profits. And the business plan will help them to improve their company step by step.