Business Plan Assignment Should Be Tackled Differently – Here’s Why
Business plan assignments are entirely different from other assignments that we generally come across in our academic curriculum. They should be tackled differently. Why? Before we answer this question let’s define what exactly the business plan is. Business plan is a strategy on what to aim for and how to achieve the goals of the business. So business plan holds the key to unlock the door to success.
To write a business plan assignment it is necessary to identify the customers and also which audience you should aim for. In simple words, you should have the knowledge about your readers.
In order to write the business plan assignment the writer should be able to comprehend the aims and objectives of the business plan. The writer should have a good knowledge about the content of the business plan and how it guides to compete with the rivals of the business firm. The writer should be in a position to provide useful tips to the entrepreneurs who want to start their own business and investors who want to understand the context of the business before putting their money in business firm. A formal business plan assignment should discuss about executive summary, products and services, company overview, targets achieved by the company, financial plan, duties and responsibilities of the employees in the hierarchical set up.
For an instance if an entrepreneur wants to start up a business for manufacturing candies. He needs to take the stakeholders in his confidence in order to get their support in running the business. Banks and Financial Institutions look for evidences to find out the stability of the business. If the enterpreneur fails to convince the banks and stakeholders then he will not get their support to avail any loan or credit facility. Therefore it is very vital to justify the aims of the business. Breakeven point is also another factor which is to be achieved in a given time period by using some techniques. The investor will not dare to invest if he is confronted with a single doubt about the credibility and stability of the business. The main goal of the business plan is to enhance the income of the stakeholders.
All the above mentioned points need to be incorporated in the business plan assignment in such a beautiful way so that the entrepreneurs does not face difficulty in convincing the stakeholders. Plus the readers should be able to understand about your business plan. The quality and the prices should be incorporated in the business plan.
Business Plan Assignment can be segmented into various sections. Below is the framework for sections and content for a business plan. This framework will also explain how business plan assignment is different from other dissertations. Here we go!!
- Covering Letter: Mentions purpose and objective of the report, major issues to be tackled and how the recommendations in the report could solve these issues. Covering letter needs to be signed with your name, position and organization.
- Title Page: State title of the report and date, name of the company that requested report, your name, position and organization.
- Table Of Contents: Incorporate tables, sections and reference list.
- Introduction: Draw a clear picture about the purpose of the report and how it can achieve its goal.
- Background: Give a clear account about the background of the company like how it started, its organizational set up, hierarchy. You can also outline the details of the company.
- Problems That Are To Be Investigated: Mention the issues that are creating trouble for the company and how these can be tackled.
- Recommendations: You can state the merits and demerits of the topic in the recommendation section.
- Summary Of Recommendations: Use a numbered list to summarize the recommendations.
- Conclusion: Come up with main results and findings.
- Executive Summary: Summarize each and every aspect of the report. It can be included in the beginning or in the end.
- References: Arrange an alphabetical list of references.
- Appendices: Each appendix should be numbered. You can include raw data, figures, diagrams etc to understand the business plan clearly.