Essenceof Business Plan
Analysisof the case
Thecase study discusses on the tips of preparing the business plan, thatis, what components to include as well as how to assess thesecomponents. All businesses need a business plan whether small or big.According to the case, an effective business plan helps to map thefuture that is, writing one`s ideas down help in gaining insightsregarding the business set up. Besides, one has the potential ofdetermining the courses of action that need to be taken intoconsideration to enhance business setup. The plan helps to get deeperinto future possibilities and hence develop objectives in line withthe available resources to attain the targeted goals.
Recommendationsto Michael Cain on what type of business plan he should prepare
Abusiness plan is a report that summarizes what a particular companywhat to achieve in a specified period. It analyses the structure ofthe company regarding the customer base, probable growth as well asthe goods and services. The type of business plan to be adopted byany organization depends on its needs. The kind of business plan Iwill recommend Michael Cain is the lean business plan. This isbecause, with a lean program, an organization can manage itsdeadline, cash flows, tactics as well as strategies. The plan is moreproficient incomparable with a typical business plan since it doesnot incorporate summaries as well as a background that workers andmanagement already know(Berry, 2015).While presenting to theUniversity, the following ought to be included in his presentation.
Partsof the business plan that must be included while presenting it to theuniversity
Laying down the strategy: Utilizing of bullet points to term the target market, the key business uniqueness as well as organization offerings. They remind the employees and the management of their capability.
Establishing the strategy: Bullets are also utilized to highlight the marketing attributes concerning the pricing, promotion, advertising, website as well as the channels. Other techniques include the hiring, training as well as other aspects. Also, methods regarding the product and services that includes launch dates, delivery, and new versions as well as pricing.
Concrete Essentials: This is a list of suppositions, task responsibilities, milestones and tracks number.
Makinghis presentation effective and succinct
Michaelcan make his Presentation effective by first understanding hisaudience. University representatives are knowledgeable audiences whoneed well prepared and well research information. Hence, Michaelneeds to do a thorough research regarding business plan .Also, andutilization of bullet points in his study will help him analyze hispoints comprehensively. Another aspect to consider in hispresentation is being audible to make his points clear as well asgiving a moment for the audience to ask questions and giving theclarifications accurately. These attributes will earn him points inhis presentation.
Determiningwhen to create and present a formal business plan
Abusiness plan is a comprehensive plan that enables one to start up abusiness to attract prospective investors. Moreover, an effectivebusiness plan helps in determining when to recruit and what are theessential skills that are demanded in various sectors of the firm.This information is critical while am presenting a formal businessplan to the management. They help in convincing the administrationsince a comprehensive business plan offers a solution to an array ofproblems that may be facing the organization. For instance, abusiness that has the perspective of expanding necessitates amendmentof its existing business plan to help plan and communicate the realpriorities necessary for intensifying the business.
Berry,T. (2015). TheDifferent Types of Business Plans – Bplans Blog.BplansBlog.Retrieved 7 October 2016, fromhttp://articles.bplans.com/the-different-types-of-business-plans/