BUSINESS PLAN ASSIGNMENT

Business Plan assignment

Business Plan assignment

“KSL Group” background

KSL Group is a sugar factory in Thailand, was established in 1946 by the three co-founders who were Chinese-Thai businessman. As an honor to the company's co-founders, the name, KSL, is derived from the three English alphabets of its former name, Kwang Soon Lee. They vividly envisioned the strong prospective of the sugar industry in Thailand and decided to jointly found a company; Kwang Soon Lee Co., Ltd, and Mr. Chuan Chinthammit became its first Managing Director. The others co-founders were all directors. They provide sugar in high-standard quality.

Over 60 years of experience, KSL Group had developed the manufacturing process and the quality of the product continuously by seeking the proper raw material, bringing new technology to use in the manufacturing process, testing quality in order to satisfy customers. The company was the first sugar industrial unit that adopted contemporary expertise to manufacture granulated sugar directly from fresh sugarcane juice. Therefore they become one of the leading sugar manufacturers both in Thailand and Asia. The company's head office located in Bangkok, and it provides products and services mainly to global market. For others factories are located in up-country; Chon Buri, Khon Kaen, and Kanchanaburi province. Factories manufacture products and distribute to local area. They have a wide range of customers both within the country and internationals. Customers are mainly from Thailand, China, the United State, Korea, and Japan.

Role, Potential, and Contribution of a Business Plan

The business plan facilitates the interpretation of the different contexts where they are too developed for the different activities of the company. Given the complexity and dynamics of current markets, no company can grow and compete regardless of the variables involved and make a comprehensive analysis to see if the venture is feasible or not (Welch and Wilkinson, 2002, pp. 30). Moreover, it is clear that there is a potential risk and uncertainty involved in the success or failure of any business. Planning helps to solve a number of problems that small and medium enterprises, including:

Lack of investment capital and access to funding sources.

Anticipate situations that affect profitability.

Effectively introduce new products and services to market.

Establish and enforce production standards and quality control.

Lack of marketing strategies.

The reasons why a company should decide to make a business plan are:

Verify that a business is viable from the economic and financial aspects.

Detect and prevent problems before they occur, saving time and money.

Determine resource requirements in advance.

Examine the performance of a going concern.

Assess a company's sales performance.

Drive and find the most efficient way to launch a venture.

The business plan is a management tool that is subjected to ongoing review, because the dynamic environment of today's business environment requires continuous improvement efforts and these efforts could be provided by a well developed business plan (Wilkinson and Young, 2002, pp. 30).

Most importantly of all above the business plan provides a detailed overview of the Management team and professional contractors, Products / services offered and the distinctive advantages, Human resources (internal and external), Trends and ...