1. instance. An effective business plan should thoroughly

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Success of an
enterprise is greatly enhanced by a vivid and exhaustive device called a
business plan (Malcotsis,
A business plan is defined as a document that depicts firm’s products’ and
services’ portfolio, market forecasts, financial position and budgets,
production techniques and ways of attaining her goals (Ward,
The plan comes in handy when planning to actualize entrepreneurial ideas or
while expanding an already functioning business. It is the aim of every
entrepreneur to start a business whose prospects are good enough to ensure
sustainability. A clear and attractive business plan can ensure this is
It is
dynamic and is frequently updated when necessary at any given instance.

An effective business
plan should thoroughly evaluate the target market and competition stiffness. It
should provide a concise summary of the enterprise and depict innovative ways
for marketing, running, funding and managing the business(Ward,
It should reflect the need of the firm and be achievable, informative and
compelling to get all parties to the business committed.    

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A business plan has
numerous applications for the corporate realm. The uses are broadly classified
as either internal or external. Internally, the plan is used to; conduct SWOT
(strengths, weaknesses, opportunities and threats) analysis for enhancing
performance, harmonize the plans and operations of different sections in big
companies, inform employees about the company by evaluating the past and/or
recent performance and trends and provide a firm basis for decision making
exercise on the satisfaction of the business (Crego,
Schiffrin, & Kauss, 1995). Externally, a
business plan informs the stakeholders and customers of mission, vision,
objectives, performance and firm organization. Furthermore, it is quite useful
when outsourcing for funds to start or expand a venture (Crego
et al., 1995; Malcotsis, 2002). Hence, a
business plan should compel and inform the audience in a way that is easy to
understand. Moreover, it ought to be realistic to realize its purpose.

Farm Machinery
Manufacturer Business Plan and Cosmetics Manufacturing Business Plan are
selected for this study. A brief overview of each plan is detailed in the
outline section. 



Brief introduction

Farm Machinery Kouros
Brothers Ltd (KBL) is a Cyprian based firm that provides a wide range of
agricultural commodities and services. It is a producer, an importer and a
legal retailer of a collection of heavy-duty agricultural instruments. It is
the only authorized intermediary for major European agriculture producers. The
company has wide markets extending to the Middle East as well as Syria.

The firm has spotted a
new opportunity and intends to seize it. The government plans to provide
incentives amounting to 256 million Euros for agricultural producers that
intend to acquire the state-of-the-art technologies to add value of their
products and consequently fetch high prices on the market (Bplans,
The business plan intends to communicate the potentials of the firm, to
showcase the company’s good image and her expanding market shares and to stress
the need for funding to aid in the expansion. The firm boasts of attractive
returns and assets, but lacks adequate capital to acquire the much needed
exhibition machinery to cater for the anticipated huge sales’ potential due to
the incentive funds. The firm has identified a list of proven buyers of the new
technology. The firm is under desirable pressure for expansion to fully cater
for the widening market demands. As a result, the company is looking for
funding of about £50,000 to realize her mission.   

Strengths of the business plan

Tremendous experience in management with
first-hand information in the industry

Excellent skills and
experience in research and developement

Exceptional administrative competencies

A strong and proven market base

Good firm reputation

Weaknesses of the business plan

Inadequate financial
capability to supply the new technology

Sales ,on normal cases,
is low since farmers cannot purchase new technology annually

Customers can only
purchase proven technologies

Over reliance on
assumptions for financial plans


Market share and plans

Financial plans

Competitve edge


Brief introduction

Blue spa, owned by
Brunner’s family, is a US firm based in Oregon State. The corporation “has
created a brand concept consisting of both skin care and athletic apparel
utilizing multiple channels of distribution” (Bplans,

The firm has an
eye on the untapped market niche. Currently there exists no brand that is
all-inclusive as far as the beauty and fitness products are concerned in this
industry. For instance, women customers have been conspicuously neglected in
the fitness clothing and auxiliaries. This presents the firm with a glorious
opportunity to establish and roll out growth plans for the idea. The brand is
mainly targeting educated women from their mid-twenties to mid-sixties with
special concern on healthy living and maintaining fitness. The firm intends to
accomplish her goals by being innovative in marketing and bolstering herself on
quality production techniques. This business plan presents their market
analysis, value proposal and marketing plans. The plan foresees a pay-back
period of 3 years. They are looking for investors to fund the establishment of
the brand.

Strengths of the business plan

Products of
high quality

Ray and
Barbara cumulatively have experience of 65 years in retail industry

on less targeted group in the industry

Use of catalogs to inform customers on
Blue spa benefits

Weaknesses of the business plan

Only targets educated

Blue spa is yet to
establish her name

Faces stiff competition
in the specific brands


Production and implementation

Market and market

Cosmetic industry


Difficulties in regurgitating technical information
presented in the plans

Long business plans with more useful
information to understand

Difficulties in paraphrasing some
technical statements


Should be specific and achievable

Should get people committed and bring all parties on board

Be informative and suit the need of the business

Is dynamic and updated from time to time as the need arises


Clear writing with cohesion and flow

Effective communication and presentation
of information

Critical analysis and evaluation of sources

Credible research

Able to research technical topics


Focus on all women to widen prospects in
the cosmetic business plan

Strengthen the business plan by factoring
in customer feedbacks

Not to compromise quality for the sake
of fetching low prices


Closing statements on
the business plans and the entire business planning exercise.

Categories: Decision Making


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