Small Business Plan

Plagiarism

Students at this level should start to acquaint themselves to the penalties of copying from sources and/or from their fellow students.   They should understand that any plagiarized and/or copied assignment will result in a heavy mark deduction.

Small Business Plan

For any start-ups, a business plan allows gaining a better understanding of the industry structure, competitive landscape, and the capital requirements of starting a small business. Normally a business plan is difficult to implement unless it is simple, specific, realistic and complete. In addition, a good plan will need someone to follow up and check on it. The plan depends on the human factor, particularly the process of commitment and involvement, and the tracking and follow-up that comes afterward.

Successful implementation usually starts with a good plan. There are elements that will make a plan more likely to be successfully implemented. It includes:

  1. Is the plan simple? Is it easy to understand and to act on? Does it communicate its contents easily and practically?
  2. Is the plan specific? Are its objectives concrete and measurable? Does it include specific actions and activities, each with specific date of completion, specific persons responsible and specific budgets?
  3. Is the plan realistic? Are the sales goals, expense budgets, and milestone dates realistic? Nothing stifles implementation like unrealistic goals.
  4. Is the plan complete? Does it include all the necessary elements? Requirements of a business plan vary, depending on the context. There is no guarantee, however, that the plan will work if it doesn’t cover the main bases.

(Source: Editor: Tim Berry (http://articles.bplans.com/writing-a-business-plan/)

It is widely recognized that business plans as something you do to start a company, apply for a loan, or find investors.

Task

Prepare a Business Plan for starting a small business in Oman. In your business plan, you can include the following:  (1200 words)                                                                          (100 marks)

  • Define your new business idea and say why do you think it is feasible?
  • Define and fix objectives of your new organization
  • Do a simple market research for your project to define target market and how will you penetrate it?
  • Discuss the ways and means of financing your project.
  • Define agreements you want to make with your stakeholders
  • Establish your Human resource requirements and explain how will you select qualified personnel for your organization?

 

        Note:

You need to cite at least 5 different external references.

Last Updated on February 11, 2019 by Essay Pro