In: Operations Management
Introduction
A business plan is a written document that describes your business,
its objectives
and strategies, the market you are targeting and your financial
forecast. It is
important to have a business plan because it helps you set
realistic goals, secure
external funding, measure your success, clarify operational
requirements and
establish reasonable financial forecasts. Preparing your plan will
also help you focus
on how to operate your new business and give it the best chance for
success.
Securing financial assistance to start your new business will be
directly related to the
strength of your business plan. To be considered a viable candidate
to receive funds
from a financial institutions or investors, you must demonstrate
that you understand
every aspect of your business, and its ability to generate
profit.
A business plan is more than just something to show lenders and
investors; it is also
necessary to help you plan for the growth and progress of your
business. Your
business’s success can depend on your plans for the future.
Listed below are examples of questions to ask you when writing your
business plan:
• How will I generate a profit?
• How will I run the business if sales are low or if profits are
down?
• Who is my competition, and how will you co-exist?
• Who is my target market?
You are required to write a Business Plan Report and you are
advised to follow the
below given outline. To make the best impression, a business plan
should follow a
convention structure, such as the outline shown below.
Cover page
Table of contents
1. Executive Summary
• A succinct highlight of the overall plan- include ownership
structure, business
address, product/service, the management team and strategy and
strengths.
2. Industry Analysis
• An overview of the industry, including consideration of the
competition, industry
trends, and regulatory bodies.
3. Definition of the Business
• Explanation of the business concept, the current offering and the
projected
growth.
4. Purpose of the Business Plan
• Dominant reason for the preparation of the business plan.
5. Business Feasibility
• Analysis of the demand (include highlights of the findings of the
market
feasibility study), risk (include business and market risks),
environmental
impact.
6. Justification of the Business
• Economic, social and personal benefits.
7. Organisation and Management
• Vision and mission statement, corporate goals, managerial
competence,
organisation structure and organisation chart.
8. Operational Considerations
Location, technical requirements (explain key business
processes),
equipment required (state whether it is a manufacturing or retail
business),
suppliers of raw materials, utilities, opening hours etc.
9. Marketing Arrangements
• Target market, definition of the product or service, pricing,
distribution and
promotion.
10. Financial Consideration
• Source of financing, capital cost, pre-operating expenses,
working capital
requirements, cash budget over three years (estimation of the cash
inflows
and outflows).
11. Appendices
• Tools used in feasibility study, profile of management team,
prospective
suppliers and clients, samples of product design, labels,
promotional
campaigns, floor plan and legal documents (where possible)
12. References
• Bibliography, credits, acknowledgements.
Guidelines writing business plan
1. All work must be submitted in English.
2. Please use the same format for completing the final project
report:
a. Use A4 size paper and leave at least 40 mm for the left-hand
margin and about
25 mm for the right-hand margin. Also leave about 40 mm at the top
and 25
mm at the bottom of each sheet.
b. Font is Arial and font size 12.
c. Paragraph spacing 1.5.
d. Number each sheet at the bottom. As you write, make
cross-references by
section rather than by pages. Page numbers may change later. If you
wish to
refer to the page numbers in the text, do so only after you have
the final
version of the report.
e. Sections and subsections should be numbered for reference, but
avoid
cumbersome sub-sub-section numbering such as 4.2.3.6. To keep
the
contents, list short, include only numbered headings. There is
probably no
need to exceed two digit numbers, such as 4.2 or 3.4.
f. Headings should be used at the beginning of sections and
anywhere else
necessary. Carefully selected headings make the report clearer and
will avoid
confusing the reader. They should be distinguished by a change of
font or size,
or may be underlined in the report.
g. Tables should be used to present information concisely where
graphs or
histograms are not appropriate. In setting out tables, arrange the
data so that
there are more rows than columns and use a minimum of horizontal
lines.
Table headings should follow the section number (e.g., in Section
1, Table 1.1,
1.2, 1.3 ...) in the order in which they are mentioned. They can
then be referred
to in the text by number only (e.g., Table 1.1). Place the tables
in the text near
to where they are first referred to. If you use a very large number
of tables,
they may be more conveniently placed at the end of the report or
you may
want to put them in the appendix.
h. Equations should be numbered by section (e.g., in Section 2,
Equation 2.3, 2.7
...). You may need to show an equation in the financial projection
section. This
ensures that if one is deleted or if you need to refer to an
equation that you
have not previously numbered, only those in that particular section
need to be
re-numbered. Keep the number to the right margin of the page. Check
all
references to equations in the text when editing your final
draft.
i. Graphs, histograms, drawings, diagrams and photographs should
all be
referred to as figures: Figure 1.1, Figure 1.2, and so on. If the
size of the
figures is small, you may put two on one page. Insert a caption for
each figure.
Place the figures in the text next to where they are first
mentioned. Keep the
labelling inside the figures to a minimum using letters,
abbreviations and
symbols; avoid phrases. Use the figure caption to explain the
details. For
example, different curves on a graph may be labelled A, B, C and so
on and
each can then be identified in the caption. Check all references to
figures in the
text and any information you quote from within the details of the
figure.
j. You may use different colours between curves or parts of a
diagram.
please answer asap thankyou
May i know what specific data industry
these only are the question that given andbthe industry data need to create by ourself
Answer:-
Executive summary
The Dollar Store is a start up retail store in Bend, Oregon that gives intriguing item options at deal costs. Financing will start from the private ventures of owners Ted Brinkman and Jim Spencer. They will give esteem that will be cleared at the completion of three years. Profits will be paid quarterly on the Remarkable value.
The Dollar Store will be combined as a LLC association. This will shield the owners from issues of individual hazard and twofold duty assortment. The financial specialist will be treated as financial specialists and consequently won't be in danger for more than their own ventures. The larger part owner Ted Brinkman, will contribute from his own hold assets toward this undertaking. With an agressive displaying plan The Dollar Store would like to experience reliable improvement things being what they are, to be progressively typical for the general populace.
1.1 Objectives
1.To give a wide scope of item at Sensible costs.
2. To achieve a strong net income inside the primilary year.
3. To achieve an unassuming net advantage by two year.
4. To be a working and vocal individual from the system, and give constant re-hypothesis through interest in network execrises and financial responsibilities.
1.2 Mission
The Dollar Store gives a collection of captivating item decisions at deal costs. Focused on customer care the Dollar Store will give its supporters the Sort of organization that Is deferential and brief. Agents of the Dollar Store will moreover be treated in a specialist route with a compensating work environment and sensible compensation. The Dollar Store needs every customer to feel similarly as he/she has gotten Fifth Avenue treatment at an deal cost.
1.3 Keys to Success
1. To win right currently should:
2. Sell a far reaching Scope of items.
3. Suit the satisfaction of 100% of our customers.
4. Be a working individual from the system