- Published: October 22, 2022
- Updated: October 22, 2022
- Level: Doctor of Philosophy
- Language: English
- Downloads: 6
Business Answer Business plan would help Micky McDonald of Westbeach to decide if to buy the business as it would facilitate the decision to have amore systematic approach. Business plan is actually the blueprint of the functioning of the organization. A business plan generally consists of various fields that may help Micky McDonald to understand the future of the business.
Micky McDonald can not afford to take any further chance regarding the business as it is at a very alarming stage. Therefore, Micky McDonald should be very systematic in its approach to either buy or walk away. A business plan can help in identifying the underlying assets or liabilities of the business and also would bring into light the chances of the future business success or loss. It can also provide Micky McDonald with a financial analysis of the business of the future. A comparative analysis can also be made between owning and dumping the business. Therefore, in true sense Micky McDonald can take the decision on facts and figures rather than deciding whimsically (Saint Vincent College, “ Importance of a Business Plan”).
A business plan generally consists of the executive summary of the related ideas, the methodologies, the finances and various other aspects. In relation to the topic, it is very important to prepare a business plan in a very cautious manner. As the firm has been running in losses, it is quite significant to analyze the reasons for the failure of the business. The business plan should be in line with the failures of the firm in the previous period and its chances in the future.
Actually the business plan should be based on the learning of the early failures of the business. A SWOT analysis and development of the value chain is very important in the business plan as they would act as a barometer for the success if the plan is accepted. Major emphasis should also be given on the distribution as it is one of the major focuses of a marketing firm. It should also make clear the objectives and the values of the firm. The dimensions to the business plans are infinite but the major focus should be on turning the sick business into a profit making one (Hadzima, “ The Business Plan”).
It is very important to have a business plan irrespective of the nature of the business being dynamic or static. In present day scenario, each and every business is operating in a dynamic environment. The business plan actually gives the business the much needed direction. The demand for the apparels used while snowboarding would be fluctuating but the sports will remain the same and so will be the apparels.
Again, the business plan provides the company a long term support. Business plan not only discusses about the operating situations but also focuses on the goals of the company. The demand for a particular product depends upon a lot of factors. For snowboarding, one of the basic factors is that of the season. Therefore, the company should plan their business plan with the factors in mind. It means that it is good to have a dynamic business plan than not having one at all (Abrams, R. & Kleiner, E., The successful business plan: secrets & strategies).
Abrams, Rhonda. & Kleiner, Eugiene. The successful business plan: secrets & strategies The Planning Shop, 2003.
Hadzima, J. “ The Business Plan”. September 21, 2010. Massachusetts Institute of Technology, 2005. Saint Vincent College. “ Importance of a Business Plan”. September 21, 2010. Business Planning, 2010.
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