Subject | Business and Economics |
Topic | [FINAL] PA4, 5, 6 |
Type | Essay |
Level | College |
Style | APA |
Sources | 8~10 |
Language | English(U.S.) |
Description |
[ pa4]. Plan for managing business functions (see below for parts) Now it is time to construct the back-end of your business plan starting with operation, production, and supply. This portion of the business plan is mission critical because it deals with the management of many business functions to include production and manufacturing and suppliers and is key to achieving operating profit. Key elements in developing this part of your business plan are strategic in nature and include: suppliers, production, logistics (fulfillment), and customer service. You will also have to decipher what will be your business’s organizational structure and how it will help develop and build a high-performance culture. Do not just give your opinion, but support your positions with research-based analysis. It is important that you reconcile some base-level assumptions in your financial projections with this portion of your business plan. (4 pages) [pa5]. Develop the organizational hierarchy of your company (see below) Continuing on the back-end of your business plan (PA4), organization is key for the success of your new business venture. Organizing your resources to yield maximum returns and fulfill financial obligations while providing solutions to target customer needs is the main theme. In this phase of your business plan you must outline the duties and responsibilities for getting your new business venture through fruition. Who will be in charge of what, what is their background for the position, and gave they worked together before. VCs want to know much detail about the executive team. This would include who will actually write the business plan and who will implement the plans to build a venture. An understanding of how to make a venture team work effectively, constructing a solid external Advisory Board, describe the roles of other stakeholders involved in the venture, and have a plan for legal organizational options for the venture and the implications for liability, protection, and taxes. (2 pages) [pa6] At this point in the business plan we are still moving towards the back-end by providing Major Milestones of your business venture. This segment of your business plan is crucial in securing funding by enhancing your selling effort of your new venture to prospective investors, including banks. It presents the major milestones that your business is committed to achieving with the specific round of financing. This needs only be a page featuring a task list with key dates. We also like to see a sentence or two on how to mitigate the risk of these key milestones at the bottom of the page (Meyer & Crane, 2014). (1 to 2 pages) Projecting the financial performance and requirements for the venture is related to the major milestones. It is necessary to translate your business model (developed in PA1) into actual numbers by projecting revenues, expenses, operating profit, income, expenses, cash flows, capital investments, and related startup costs. It is important to ensure that these projections are in alignment with your business model and related strategies to compete as a new business venture. Stated in another way, it is imperative that you develop meaningful financial projections and offer different approaches for financing your new venture and for analyzing costs, expenses, and profits. Please follow Chapter 9 carefully so that you consider all aspects of projecting financial performance. (3 to 4 pages). |
Spacing | Double |
Pages | 9 |
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