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Mkt/421 Business Plan

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Business plan: Business plan is the written document of the business future. This document generally project business goals, issues your business may face and plans to solve them, and outlines the route a company intend to take to grow revenues. Generally, a business plan includes components such as descriptions of the company, product or services, market, forecasts, and financial analysis with a projected profit and loss statement (Mckeever, 2011)
Hence, a business plan is estimation or valuation finalized at the organization level, which close with Go/No-Go criteria on whether one should set up another organization that will contend with different organizations in the business sector. A business plan is a formal statement of business goals and plans for reaching them. It may also contain …show more content…

Whereas a business plan is a detailed document of various step that an organization plans to take before truly putting all acts and operations together. A business case is based on a cost model and a benefits rationale. It measures business performance in terms of financial metrics, such as, NPV, ROI, and payback period based on projected cash flow. A business plan is based on the business model for the organization as well as expected trends and competitor actions.
A business plan addresses every key aspect, especially those associated with organization’s expenditures and profits for over a period. Furthermore, a business plan offers transparency to the company and stakeholders, the probable investors, the value and effectiveness of the thought and approach (Ghatak, S., 2010).
A business case supports a business plan by evaluating the action’s impact on the organization's business performance. A business plan can support a business case by helping case designers estimate budgets and expenditures, profits, and anticipated fluctuations in these zones (Schmidt,

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RQ1 A business model provides an explanation on how a business makes money and delivers value to its customers at an appropriate cost. Due to the varieties of businesses these models are different for each type of business. A business model is what a company uses to explain how they are functioning within their operating system. It also outlines the plan that a company has for generating revenue, costs, and profits.

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The video game industry is currently a growing multimillion dollar business. Getting into this business is a risky move since many game developers flop. There are many great games and developers with their presence in the market that for a new company to become part of it would have to put in a lot of work and effort to get themselves known. Currently, there are 2,858 video game companies throughout the United States, of those 2,858 there are 2,322 development companies and 526 publishing companies. It is estimated that the video game industry brings in an added 11.7 billion dollars a year to the GDP (Anderton).

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Instructional Plan Engage, Connect, and Launch: Engage: Say, “I know everyone here knows what a square and a rectangle are, but do you know the difference? These are two more 2 dimensional shapes that we’re going to talk about today.” Connect: Say, “Today we’re going to look at squares and rectangles and find out what is different between them because they both look like boxes, right? In fact, I’m sure everyone has received gifts that came in a square and a rectangle shaped box.”

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A lot of business owners do not understand the importance of communication and respect in the business world. I believe a business that works together will lead to a successful business. You should build the business together like a family. The result of doing this will lead to everyone within the business working together to have a successful business; which will lead to growth in the business. Strategic Planning “" involves making decisions about the organization’s long-term goals and strategies” (Bateman, T & Snell, S, 2013, p.96).

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By creating and maintaining a strategic plan, the company can reduce the majority of risks that may occur, any errors that may arise later on, and can protect the company of any issues that may affect the economy, which will in turn cause a problem with business. It has already been established that Riordan is leading the plastics manufacturing industry, which shows that their plan is working, and that they have the competitive advantage in the industry. Competitive

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Short Description Havens is an amazing department store that sells everything you need for your kitchen, home and garden and your jewellery wardrobe. The store stocks a vast range of quality tableware, glassware, kitchenware and home and garden products as well as a stunning range of gifts and jewellery since 1901. With amazing pieces and stylish essentials, Havens is the place to go if you are after something that stands out. Whether you are after Lismore Barware, Piemont Cutlery or Blue Fluted Mega, there is something to suit your taste and budget here. The company brings all the products from the top industry brands, making sure you will not get to see products made of the highest standards and quality.

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Planning is important in any business venture. It can be the difference in the success or failure of the organization. A manager must know how to implement strategies such as pricing and advertising to attract more business during slow

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A strategic plan is a tool that provides guidance in fulfilling a mission with maximum efficiency and impact (Mittenthal, 2002). The strategic plan includes the executive summary, the mission statement, the vision statement, and resources. Our nonprofit food bank is called Feeding

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Once the mission statement is created and revised, one can then move onto the business plan, which is still part of the critical first step. A business plan is connected to the mission statement, but now one has to go into more detail as to how they plan on achieving their mission statement. For example, the American Cancer Society’s original business plan most likely described how they planned on reaching out to a target audience who would donate to their organization, as well as deciding where their money will go for the cancer research and what hospitals receive their money. Basing it off the mission statement from the cerebral palsy organization, it could be determined that the business plan would go into detail on how they are going to

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It serves as a guide for all of the company's decision-making. Company leaders, shareholders, and their employees are the target of the mission. The vision statement outlines the organization aspirations and long-term goals that are clear and concise. The purpose of the vision is intended to inspire and motivate those in the businesses workforce, by designing an idea of where the organization is going. The process in Strategic planning is about developing the organization's objectives through tactics and strategies that help achieve the mission of the group.

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It is very important that everyone involved in your business from the very top to the bottom of the chain knows exactly what is going on in your business. A business is team and you need everyone on your team working towards the same goal. Before you can teach your team about the business plan, you need to know it yourself. Once you are well informed of your business plan and the strategy and tactics you plan to use to get there, you can form excellent, dependable business clarity that will permeate throughout your business. A business that starts off with clear and focused goals and plans and a strategy to reach those goals will be much more successful than those businesses without this.

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Essentially a strategic plan is an extensive inspection at where the organization is, where it wants to be, and how it can get there. The

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Name Institution Business Case and Business Plan Date of Submission Business Case and Business Plan A business case is a documented argument consisting of the requirements to move an idea from a simple idea to an actual project. A business plan is a proposition for a new business or the expansion of an existing business. Both business plan a business case are important aspects to realizing a successful business. Below, we shall discuss these two concepts, their differences and how they relate.

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