BUSINESS PLAN

Assessment Tasks 1, 2, 3, and 4

Task 1

Quality Training

When reviewing the business plan of the Quality Training, we can see that it has many strong points and there are shortcomings as well. The business plan is presented mostly in bullets giving a brief overview of all the things that the business proposes. There is consideration for the competitors and also an analysis of the market giving a holistic picture about the business. In the end there is a conclusion of how the business plan will be reviewed. There are some objectives that the business seeks to achieve and measure its success to see whether it has achieved them or not. There are control measures on the finances and a review of whether the correct strategy is being followed.

The plan has many issues, starting with the basics the page has error where the page number of the pricing strategy and review of business plan is not defined. There should not have been a separate heading for company ownership and location and facilities as it could have been covered in one part. There should have been a mention of the sources of finance of the business. Additionally, the plan should have also shown the financial statement which should show the profit forecast in the three years in detail. There should be a proper mention of the revenue and expenses to show a comprehensive financial statement. In the end there should have also been a contingency plan which shows what the business would do in case if they fail or things would not go according to plan. They should mention whether they would go for liquidation or sell the venture to another party.

Jolly's Java and Bakery

The business plan is on a bakery named “Jolly's Java and Bakery”. The plan has a lot of graphical and numerical information that supports its strategies and future direction. The financial information provided is comprehensive giving a detailed overview of the sources of finance and profits that will be generated by the business. There is also an overview of the revenue and costs that the business will be incurring. This information is useful when the business reviews its actual performance with its actual because the shortcomings or success can be quantified. Personnel plan is also mentioned in order to give an overview of the staff needs and how they will be met. A review and analysis of the market and competition is also done. Segmentation of the customers is done on the basis of locals and tourists, however there should be a mention of the demographic and lifestyle of the customers.

The business plan has too much numerical information, and there is no supporting information to interpret the finances. The plan lacks a marketing strategy where the business tells about its promotion and pricing. The competitor review should include their prices and what the company proposes to charge the customers. The bakery proposes to sell coffee items which are popular among working people looking to grab ...