A Business Plan Essay Example | Topics and Well Written Essays - 750 words

A Business Plan - Essay Example Following is the list of elements required for the business plan Executive summary is one of the most important segments of any business plan. It will give the brief idea of the company’s business, background and expectations from the particular group. This creates interest for the investor to read further. It should be carefully written. This is written to give an idea about the market and the company operating in. The background of the company should include information like when company started, product or services it offers, its customer base, the growth it’s experiencing and current performance. Apart from company specific information it should also include the information regarding the market and industry it’s operating in. The market can be new developing or developed. The competition and the position of the company within that market give an idea to the investors about the overall position of the company and validity of its growth projections. The clarity of vision can be supportive to attract investors. Vision gives the overall picture of the opportunity existing and how company will be growing with that opportunity. It is supported by the financials and other non financial factors. This section discusses the about the opportunity existing in the market and the roadmap through which company will be operating to earn the profits. This will include planning for various functions of the company i.e. operations, marketing, human resource management and financial management. In this segment the financial strategy should be described. The capital budgeting, break even analysis, operating cost, fixed and variable cost, projection of profits, investment requirement, cash flow and balance sheets. The financial projections will give the bank or investor an opportunity to understand the financial planning and its coherence with the overall strategy. The organization structure includes the organization chart, brief

Strategic role of information system in contemporary business Essay

Strategic role of information system in contemporary business - Essay Example It goes ahead to consider some marketing strategies that companies can adopt to gain competitive advantage over the other competing organizations, and how they can use information systems to achieve this. A practical look is given to how Microsoft has managed to beat competitors using information systems Strategic role of information system in contemporary business Introduction The knowledge of information systems and its applications in business is of important consideration for managers in the current business world owing to the increased use of technology ((Kotsoukis & Mitra, 2003, p.3). The staff in the organization as well as the other available human resource should have the basic knowledge necessary for the incorporation of these technologies, which is now a necessity, into their operations. There are several uses of information system in business organizations. They are used in organizing the business processes and its operations. It is also used to assist the organization du ring complex decision-making processes using the necessary application software. Information systems can also be used by the companies as strategies to compete and beat their competitors in the market. This can be achieved using information technology to advertise or market the products of a company. However, it is also important to consider that in as much as the use of such systems are of importance in businesses, there are associated challenges that it poses to the management of the organization, which may impede their adoption. Information systems in business- conceptual framework The use of information system is increasing in business and other organizations. Regardless of the type of organization considered, there are always many sets of data to be managed or manipulated (Kotsoukis & Mitra, 2003, p.3). The use of information system in business ranges from simple applications like the calculation of wages to the more complex techniques like the use of application of software th at can be used to aid operations or decision-making process of the organization. Its extensive use will enable the business organization to survive in a market with many competing firms. Michael Porter had suggested that there are five forces that influence the operations in a given business industry (Strategic Management, n.d). These forces are the supplier’s power, barrier to entry, threat of substitutes, the power of the buyer, and the degree of rivalry among the competing firms. The management should consider the possibility of other firms getting into the business as well as the reputation of existing alternative products. Every company then needs to have a competitive advantage over the rival firms. Identifying the power and opportunities that a form has for investment, as well as the needs of the customers is fundamental in ensuring organizational success. The firms should identify the competitors and strategize their operations to beat them. The use of information sys tem can help an organization to obtain this competitive advantage. How an organization keeps the data that pertains to its operations as well as its employees will determine the success in managing the organization. A proper and efficient means of data storage and retrieval will facilitate the achievement of an organization’s objective. Mutilated sources of data call for approximation or estimation that can result into wrong course of action being taken by the management. It can also lead to losses in the event that financial data like pay roll is poorly retrieved. Organizations will thus