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Business Planning And Development < Business Articles By Mast Business Directory

A procedure, which involves gestures or actions to reach the certain targets or to achieve any goal or motive, is called a plan. There are types of plans which include structured and formal plans. These types of plans are actually made to achieve the combined goals like, projects, military campaigns, combat or businesses. Plan is a must-have thing to achieve any goal or target, because not having any plan will have very bad effect on your efforts to achieve the target. In business if you do not have certain plans to face difficulties or you do not have any plan to achieve the business goals, than your effort, money and time could be wasted. A plan on paper is just a waste until you do not show or make any effort for implementing that plan to achieve your target or goal. So having a plan and making an effort is must to achieve any goal. In the context of business the plan is actually based on the calculation which shows your intention to achieve the business goal. If we go in details, the plan actually contains the explanation about the goals and effort to achieve them. Also there is the strategy that how we are going to achieve that target. Money factor should also be there in business plan. The capital amount which would be there to invest should be stated in the plan. Also it should contain the full financial data (numerical or financial statistics) which would show our willingness of investing in the business to achieve the desired financial target. The business plan is actually built to be processed on the whole one trading year, which could be further broken down into the quarterly, monthly or weekly schedule. It is the manager’s duty to implement the plan to achieve the target in a proper manner. The manager should be the man who is able to control things and activities which is happening around him.

Business:

The activity which is performed to earn some benefit or any goal is called business. It could be used by any company, firm or any other organization. These organization or company provides goods or services to the demanding customers. These customers could be different people from different walks of life. There are types of businesses around us, most of the businesses are privately owned, while some businesses are owned by the government or any other authority. A business is commonly started to get the benefit for the owner, as the benefit is actually in the shape of financial profit. A financial benefit would add to the wealth of the owner of the business, which helps him to maintain the business in good shape along with expending it.

Planning:

The plan which consists of the schedule to make effort or make any activity to reach any business goal or target on any specific time period, is called a business plan. First thing that should be there after the business purpose, are the reasons of running business and the reasons why the stated target is achievable in the above mentioned time period. The main aim of the business plan is to show the potential of reaching the goals within time and within the available resources. Another important thing that should be mentioned in any business plan is the information of the people/organization/team, who will be working to achieve the business goals. Business goals actually differ in two types of businesses. First type is the business which generates profits and second is the non-profit business. The profit based business is totally focused on earning or generating more and more revenue, while the non-profit business is actually based on the factor to correct the bad things around us or to make the society look good.

Development:

Although Business requires planning and ideas but it is not only solution to raise revenue and profit. The business development is one factor which brings all resources at a platform like manpower, ideas, revenue, planning etc and leads them towards success of the business. Utilizing all the resources in proper way and to higher the profit rates and decreasing the costs this all leads a business towards more success. This is not wrong to say that a business developer is only key in the success of the business. Utilizing proper resources, managing cost, hiring capable people, sales persons etc are the responsibilities of the business developer. If you have an idea about a business but you may not be capable to put that idea in to the business and for that you need a business developer who will fulfill the requirement of your business by utilizing best available resources and to give maximum results.

How Business Planning And Development Is Effective And Works?

Business plans are actually of two types, one is internally focused, and another one is externally focused. Externally focused business plans actually target the benefit which will be for the external financial stakeholders in the company. These financial stakeholders will have each and every detail of the work which is being done in the company. These external stakeholders could be either, investors or customers. But with comparison to the profit business, the non-profit business actually has the external stakeholders too. But as we know the non-profit business is not based on generating any revenue, so these stakeholders could be the donors and the clients of that organization. Business plans are also being implemented to grow or expand the business to further heights.

The business plan we make, also gives us lots of benefits. Some of them are as follows:

i. It helps you to identify problems which could come while you are running the business, so you can solve them before implementing real plan to generate the revenue.
ii. It will show you the composure of the people and also their ability towards your business. If there efforts are good you can see that you will be able to achieve your planned target or goals.
iii. The business plan also establishes a roadmap to compare results when the venture proceeds from paper to reality.
iv. It will also help you to achieve greater profitability in your company or organization, and will give you the opportunity to make better quality products and provide great services.
v. It will also show you the way that how you can generate the profit thorough the business, which will help you to get the financers.
vi. It will also let you know how you can prevent the failures and how you can minimize the risk of failure.
vii. This business plan will also help you to clarify and synchronize your goals and strategies with the real one.

After the preparation of the Business Plan:

The business plans need financial stability to implement them completely in ways they meant to be. Also invest as much as the business needs, do not waste the money, and focus on the revenue it will generate for you. So after the completion of the plan a manager once again should see what the main aim is and how it could be achieved by spending how much money.

How A Business Developer Works:

The market research is very important in running any business. The business developer will show you how you would do in the market which is also working in the same nature as you will do. You should completely know and understand your competitors, as what they produce and provide to the retail market or to the customers. One thing a person should know is that market is the place which changes on constant basis. So the new business starter should completely know the needs and requirements of the customers, which will help him in competing in the market with good condition. You shouldn’t blindly follow the market rules; first see what is in the benefit of your organization and what can be implemented, so the business developer is very necessary along with knowing the competitors.

Defining your mission statement:

The mission statement of any company or organization is actually written script which is based on the purpose of the organization or company. A mission statement actually shows the direction of the business, the activities of that organization and the actual goal or target of that firm.

Other business planning and marketing issues:

i. Staffing and training implications
ii. Customer service charter
iii. Establish systems to measure customer service and staff performance
iv. Implications for IT, premises and reporting systems
v. Communications and ongoing customer feedback are essential

Types of Content in Business Plan:

Business plans actually consist of different things which are as follows:

i. Business summary: It actually describes the organization, the nature of the business, the products and services, business purpose, who would manage, and who would operate, also the financial aspects of the business.

ii. Market opportunity: Concisely describes what the market needs to fulfill the customers’ requirements, it also presents evidence that this need is genuine and that the beneficiaries will pay for the costs to meet this need. It also describes credible market research on target customers, competitors and pricing.

iii. People: They are the most important part of the plan. It describes who will be responsible for developing, marketing and operating and why their backgrounds and skills make them the right person to make this successful.

iv. Implementation:Here the action steps are clearly described, usually in four areas i.e. start-up, marketing, operations and financial. Marketing builds on market research presented.

v. Contingencies: This section outlines the most likely things that can go wrong with implementing this plan and how the management is prepared to respond to these problems if they emerge.

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