Business Plan Essay
Business Plan Essay Must Include a High Level of Analysis
A business plan is a formal document indicating a set of company goals, the plan for achieving those set goals and a description why the management believe that those goals are attainable and etc. Its primary value is to evaluate the viability of the potential projects and to analyse the business prospects. It may also contain background information about the company such as mission, vision and how suitable and feasible the project is, to the company. This is one of the most common business assignment essay for university level students.
A business plan will be useful to a company in many ways. Firstly it will clearly identify and focus the company objectives using suitable information and analysis. Also it can be used as a selling tool when dealing with lenders, investors and banks. An effective business plan essay will also provide the company with a clear direction there by the company can avoid any loopholes in their planning process.
Business plans essay writing should be written with the audience in mind. These are targeted at external stakeholders such as investors and customers as well as the internal stakeholders such as the management. Therefore the business plan for these external stakeholders typically should have detailed information about the organisation.
Writing a business plan essay is an essential step for any far sighted entrepreneur, regardless of the size or type of the business. This is why this essay is a critical grooming exercise for students who plan to excel in own business or in corporate world in future. If the organisation is a profit organisation the business plan will focus more on financial goals such as profit or value creation. On the other hand a not for profit organisation will focus on the three E’s namely Economy, effectiveness and efficiency. Therefore there is no specific format of a business plan. It can vary enormously. However when writing a business plan try and organise the business ideas and a high level of analysis. The skills students gain from writing analysis essay can come to aid in writing business analysis section of the plan. It is important to collect a great deal of information so that the writer will be able to better understand the company position in the market, the viability of the new business venture and etc. When students write this essay, it should reflect a high level of practicality while including theoretical components in to it.
A typical business plan essay is made up of about ten sections. These include:
- Executive summery which outlines a general idea of what the business is all about.
- Business description which includes a more detailed summery of the business such as the mission statement and goals.
- Business Analysis which contain an assessment of the competition, target market and etc.
- Marketing plan which outline the marketing mix of product, price, promotions and distribution strategies.
- Operations & logistics plan addressing all operational, administrative and managerial strategies.
- HRM planning which includes skill forecasts, organisational structure and manpower requirements.
- Contingency Plans which takes in to account the risks of various sorts encountered by the new venture.
- Budgets and forecasts which takes in to account the capital investments, forecasted balance sheets and profit and loss statements.
When writing this type of assignment essays as a business plan, avoid optimism. It is always safe and practical to base the forecasts on mediocre performance expectations or even pessimistic ones and then state this assumption in your writing. It is advisable to be conservative in predicting capital requirements, timelines, revenue and profit as with the market volatilities it is very difficult to plan correctly how much money and time will be required. Make sure to use simple language in explaining your issues. There will be various stakeholders with different levels of knowledge. Therefore make sure your business plan is easy to read and understand.
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