These includes the opportunities available in online selling, creating brand image, placing products and services in the market, fair pricing, offering huge discounts and offers etc. For example I discussed pricing, product range with my Sister. Considering for unforeseen contingencies: I believe working on a business plan requires a lot of patience and the only way you get information is through research.
When I was given the assignment I had two business ideas. This way it gives enough time to think, consider and reconsider on various issues and problem so that on time decisions can be taken which could actually help achieve the desired goal and targets for the business.
The study however suffered from biasness due to my heavy involvement and judgement in the activity. From the beginning I was aware that it would have been very difficult to set up a cake shop in Trinity Walk and would be very costly but this did not discourage me in any way.
In this project we were all taking on a lot of new elements as well as continuing with work that we were familiar with, this feels like an extremely big task when the magnitude of the report itself is already more than we were used to.
In life there will always be competition and the way of cheating this competition is by acquring many skills that others will most likely not have. I thought that a business person needed a lot of years of experience to start a business.
Finalizing the business plan: I read journals, business newspapers, and also searched online about entrepreneurs. I thought I could move on to setting up a pop up shop later once the business is well established.
I identified all the places I could visit to promote my business such as the NEC cake shows and soft play centres. I think their is a high demand for my service because in this community alot of people are suffering a lot with their health.
The positioning of the product needs to be done such that the customers notice the products and could easily place their orders using online medium. I thoroughly enjoyed working on this business assignment.
I have enjoyed tying everything together and seeing the potential of all the elements we have learned over the course of the past two years. Now any of these assumptions can proved unrealistic in the real world.
Therefore the various stages of business can be identified and the most suitable action plan that will help achieve estimated goals and targets can be achieved. Plus, I love the creativity side. Now I know what I need to do to start the business and also keep it moving forward.
I helped my class mates by giving them some ideas on their business plans, like printing canvasses or printing T shirts with quotes, and pizza on the go subway style. The pop up stall can help me promote my business.
I enjoyed talking to consumers during my market research getting ideas from them learning about the consumer behaviour what they want.
The rise and fall of strategic planning: The competition in the market is so hard that the customers are have great offers to surf before making purchase. They evaluate student's requirements and fulfill them perfectly.
This way the target of achieving customers satisfaction during the actual application of business plan can be decided. The function of personality and cognitive ability in determining teamwork performance and KSAs". I made a lot of notes as I felt it was very important to make notes. Dec 07, · Business Planning has been a very challenging but fun and learning experience from me.
When I was given the assignment I had two business ideas. One was event management for weddings and the second idea was setting up a cake shop selling designed theme cakes. Both these ideas are something I want to set up. Managing author Henry Mintzberg believes that to improve business schools, we must first understand the essence of what managers do.
Managing author Henry Mintzberg believes that to improve business schools, we must first understand the essence of what managers do. Sample Reflective Paper. The goal of the project was to develop a business plan and a business plan is basically a formal statement which is formulated to achieve the desired goals of business.
Usually a business plan is develop when an entrepreneurial project is initiated and in order to find its feasibility a comprehensive plan is developed (Sutton, ).
Jennifer's Business Plan Friday, 3 June Reflection I am very pleased that I have managed to do this and feel that it is a really good reflection on my personal and professional abilities at coping under real life strains in the future. While the business plan’s executive summary is the first thing the readers of your business plan see, it should be the last part of the business plan you write.
The purpose of the executive summary of the business plan is to provide your readers with an overview of the business plan. Developing a business plan is an important step as it helps in considering important factors and future course of action for the business.
A business plan is a written statement that has all the information that a business is expected to follow. A successful business plan is available developed on.Reflection business plan