Components of a Business Plan Paper Example

The core of any business success relies on a business plan. A business plan is a developed writing with the steps and measures an entrepreneur(s) could use to start and run a business. A business plan could earn a business financial aid in times that funds become a constraints. Moreover, this type of plan sells the companies strategies to investors who might be willing to uplift the business and later share the profits. A perfect business plan should effectively run the different departments of the business (Honig & Karlsson, 2004). Below are demonstrations on how components of a business idea might be fitted into the different segments of a business plan.

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Baking in a friend's apartment should be in industry analysis process. This part of the plan outlines the production site of the goods, which in this case are chocolate chip cookies.

In a business plan, under marketing, the pricing explains how the goods will be sold at.

The goods, services and the production process guides the business in production of the best cookies in the local region.

The packaging of the products, the chocolate chip cookies, has to be mentioned in the industry analysis process (Cravens & Piercy, 2003). This part selects the quantity of the goods that is to be packaged for the market differing from other competitors.

In every business' long or short run, a projected amount of sales is expected. This amount is outlined in the financial plan of the business plan.

To have a remarkable sale of the products, the marketing team and strategies should be well sought out. This is considering the quality, quantity and pricing of the competitors in the target market. College students are the targeted market that was identified. Selling the cookies for $1 each is the price of the goods that should be considerable compared to the competitors' pricing. The distribution of the products is around the campus where the students can easily access. The management team should be outlined, with the qualifications of each member, in the management plan.

In the business plan, marketing is an essential department that sells the company's goods (Johnson, 2016). As a form of advertising the products, the chocolate cookies will be displayed in the college newspaper.

The management plan should describe the wages of each manager. The vice president of this company is expected to earn a salary of $100 every week.

If the business tends to bring in considerable profits from the external communities, the business might consider exporting its products. For this case, the business wishes to expand its borders to Canada and all over the United States.

The financial plan outlines the startup money, $600, which the lenders should have in mind while assisting in finances.

The industry analysis identifies the main competitors of the business which in this case are six.

In goods, services and production process, the business states the product(s) it will deal in and describes how the quality will be maintained.

Conclusion

In summary, a business plan contains different processes and plans that with strict adherence, runs the operations smoothly. The business plan might save a business from financial constraints and also attract the involvement of investors. The business plan saves the company a great deal when figuring out the management plans, the industry analysis and the financial plan that are to be implemented. Therefore, this written piece is essential for any business that seeks the involvement of extra parties and an effective operational system.

References

Cravens, D. W., & Piercy, N. (2003). Strategic marketing (Vol. 8). Boston, MA: McGraw-Hill Irwin.

Honig, B., & Karlsson, T. (2004). Institutional forces and the written business plan. Journal of Management, 30(1), 29-48.

Johnson, G. (2016). Exploring strategy: text and cases. Pearson Education.