STRATEGY BUSINESS

Strategy business

Strategy business

ITEM 1:

“For an enterprise-wide plan, all departments…should contribute to the planning process and the final documentation” (Stutley, 2007:17)

In order to better understand the statement by Stutley, it is important to know what a business plan and the business planning process actually are.

Business Plan

To start a business a business plan is develop that is made by the Entrepreneur or by the management and it specifies what task are to be made and it describes the mission of the organization. And to achieve that mission and vision statement how the organization should perform and make people under them to work on it. There are four tasks involve in business plan: (Aerts, W. 2005, P.493-517)

Identification and assessment of the opportunity

Developing a business plan

Determination of resources required

Management of the combined company

Although these stages follow a sequential flow, none is in isolation. And cannot be completed without taking into account factors present for the next step.

Identification and assessment of the opportunity

We begin by mentioning that your new product or service must meet a need. This phase is to identify how to meet that need and can occur in many different ways. Depends on the ability of the entrepreneur to be alert to the possibilities or may be the result of systematic mechanisms to identify opportunities.

Developing a business plan

A business plan describes how you will go to the new company. This is the stage where most entrepreneurs fail; they have rarely done one before and are not technically prepared for their development. In addition to providing guidance for developing the future business, the business plan is important to determine the resources required. It is essential for the development of the next steps. Determination of resources required

This first stage helps to account for the resources we have at present. Then, help us to categorize resources in order of importance, distinguishing those that are critical to business performance of those who are only useful as well as measuring the risks that arise when resources are insufficient or inadequate. (Aerts, W. 2005, P.493-517)Management of the combined company

Once all required resources are available; the entrepreneur must use them wisely in implementing the business plan. Some entrepreneurs find themselves in trouble when your business starts to grow and have the ability to maintain the control required. It is at this point that the entrepreneurial process becomes a process of decision making.

Business Planning Process

The business planning process is the actual way by which a business plan is constructed and formed into a report. It includes the following elements:

Description

This is the basic company information that includes the corporate vision and other relevant information, which will try to meet market needs and as to why the business idea is viable. (Aerts, W. 2005, P.493-517)

Desired market niche

One of the most important thing that has to be taken into account is the current size and market trends. Once the niche is defined, describe by geography, company size, business organization, lifestyle, ...