A BUSINESS PLANNING PROBLEM AND EMPLOYMENT ISSUE

A Business Planning Problem and Employment Issue



Business Planning Problem and Employment Issue

1. BUSINESS PLANNING

An important tool that helps people who intend to start a new business is a business plan. Planning can be for anything whether to start a new business, or expand it or develop a new project within any existing business. The company must make a plan related to its Housing developments. A plan is a tool that cautiously clarifies every feature of a development. Although many entrepreneurs and small business people do not write a plan before they start their business, it's highly recommended. Not only is it useful for a management team to hammer out the contents of a business plan together, but also the process of working together on such an important project can help develop a strong, cohesive team. The process can also uncover potential trouble spots in a team. If particular members of a team can't work together to produce a business plan, it is unlikely they will be successful working together after the business is launched. (Lee 2011, 49-55)

Formulating a Viable Business Plan

There are two primary reasons for writing a business plan. First, writing a business plan forces the founders of a firm to systematically think through each aspect of their new venture. This is not a trivial effort, it normally takes several days or weeks to complete a well-developed business plan and the founders will usually meet regularly to work on the plan during this period. For housing developments, writing a plan is also an immersion experience, the managers of the housing developments department must perform work late nights and on weekends to get their plan completed. (Passmore 1994, 43)

[Figure A: 02 main Reasons to Write a Business Plan]

The payoff for this level of dedication and hard work, which involved the preparation of a formal housing developments plan, is that Whiting and Wieber now have a successful business. Their products are sold through their Web site and in many stores. Not only is it useful for a management team to hammer out the contents of a housing developments plan together, but also the process of working together on such an important project can help develop a strong, cohesive team. The process can also uncover potential trouble spots in a team. If particular members of a team can't work together to produce a business plan, it is unlikely they will be successful working together after the housing developments is launched. (George 2002, 25-30)

Components of a Housing Developments Plan

There is no one right way to write a housing developments plan. Each plan is unique, so housing developments plan can be drawn up in a variety of ways. Still, most business plans share a few basic components. A typical housing developments plan for a company is about 30 pages in length and contains eight key elements, as given in Figure B. The order in which the key elements are included is not random; they should ...