Business Strategies the Business Plan Essay

Pages: 3 (886 words)  ·  Bibliography Sources: 3  ·  File: .docx  ·  Topic: Business

Business Strategies

The business plan represents the document which depicts the economic agent -- it reveals its problems, but also its advantages. In most of the cases, the business plan is constructed in a manner in which it presents the economic agent in a favorable light, so that the audience -- in this case the potential equity investors -- forms a positive image of the company.

The business plan is the creation of each and every entity in the meaning that it is up to the individual managing teams of each economic agent to decide what key elements to present to the potential equity investors. The specialized literature on the topic of business plans varies in the meaning that some sources indicate the need to include some elements, whereas other sources indicating the need to integrate other elements. In most cases however, the differences are not tremendous, but simply refer to a different formulation of the similar concepts. In such a context then, Chris E. Stout and Laurie C. Grand (2010) state that the business plan has to integrate the elements below:

1. The identification of the business, its features, its explanation and the need for it

2. The definition of the potential clients

3. The identification of organizational strengths and the reasons as to why customers would select the firm

4. The enumeration of the organizational goals

5. The identification of the financial targets

6. The assessment of the market

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7. The assessment of the competition

8. The creation of a marketing plan to promote the products and services and to attract the customers

9. The integration of feedback so that the plan gains more trust. The parties offering this feedback could include professional accountants or potential referral sources.

10. However not an actual element, Stout and Grand also discuss the need to continually review the business plan in order to include changes in the micro and macro environments.

Answer number 2

TOPIC: Essay on Business Strategies the Business Plan Represents the Assignment

The business plan is virtually a combination of elements which are essential to be communicated about the economic agents seeking the funds of potential investors. Dave Lavintsky argues that there are ten specific key components of any business plan, as follows:

The executive summary of the business plan, identifying the main points of the document

The analysis of the economic agent seeking investment

The analysis of the industry in which the economic agent operates

The assessment of the customers addressed by the economic agent

The analysis of the companies with which the economic agents competes

The marketing plan

The organizational plans regarding operations, design and development

The mentioning and short description of the members in the management team

The financial… [END OF PREVIEW] . . . READ MORE

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"Business Strategies the Business Plan."  Essaytown.com.  September 20, 2011.  Accessed October 16, 2021.
https://www.essaytown.com/subjects/paper/business-strategies-plan-represents/7889.