1.      INTRODUCTION

Success of an
enterprise is greatly enhanced by a vivid and exhaustive device called a
business plan (Malcotsis,
2002).
This plan is a document that explains firm’s products and services, market
forecasts, budgets, production techniques and ways of attaining her goals (Ward,
2016).
The plan is very useful when planning to actualize entrepreneurial ideas or
while expanding an already functioning business. It is the aim of every
entrepreneur to start a venture that has satisfactory prospects to ensure
sustainability. A clear and attractive business plan can ensure this is achieved
(Rogoff,
2007).
It is
dynamic and is frequently updated when necessary at a given instance.

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An effective business
plan should thoroughly evaluate the target market and competition stiffness. It
should provide a concise summary of the enterprise and put forth innovative
ways for marketing, running, funding and managing the business (Ward,
2016).
It should reflect the need of the company and be achievable, informative and
compelling to get all parties to the business committed.    

A business plan has
numerous applications for the corporate world. The uses are broadly classified
as either internal or external. Internally, the plan is used to; conduct SWOT
(strengths, weaknesses, opportunities and threats) analysis, harmonize the
plans and operations of different sections in large organizations, inform
employees and provide a firm basis for decision making on business satisfaction
(Crego,
Schiffrin, & Kauss, 1995). Externally, a
business plan educates the stakeholders and customers of mission, vision,
objectives, performance and organization at large. Furthermore, it is also useful
when outsourcing funds to start or enlarge a venture (Crego
et al., 1995; Malcotsis, 2002). Therefore, a
business plan needs to inform and compel its audience in a way easily understood.
Most importantly, it ought to be realistic to realize its purpose.

Farm Machinery
Manufacturer Business Plan and Cosmetics Manufacturing Business Plan are
selected for this study. The outline section provides an overview of each plan. 

2.      REPORT OUTLINE

 2.1 FARM MACHINERY
MANUFACTURER BUSINESS PLAN

Brief introduction

Farm Machinery Kouros
Brothers Ltd (KBL) is a Cyprian based firm that provides a wide range of
agricultural products and services. It is a producer, an importer and an
authorized retailer of a collection of heavy-duty agricultural tools. It is the
only allowed intermediary for major European agriculture producers. The company
has wide markets extending to the Middle East as well as Syria. KBL has spotted
a lucrative 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,
2017a).
The firm boasts of attractive returns and assets, but lacks adequate capital to
purchase important exhibition machinery to convince customers and secure the
anticipated markets. A number of proven buyers of the new technology have been
identified. The company is under desirable pressure for expansion to fully
cater for the widening market demands. As a result, it is looking for funding
of about £50,000 to realize its mission.   

Strengths of the business plan

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

·        
Excellent skills and
experience in research

·        
Exceptional administrative competencies

·        
A strong and proven market base

·        
Good reputation

Weaknesses of the business plan

·        
Inadequate financial
capability to supply the new technology

·        
Low sells on normal
cases

·        
Customers can only
purchase proven technologies

·        
Over reliance on
assumptions for financial plans

Analysis

·        
Market share and plans

·        
Financial plans

·        
Competitve edge

2.2 COSMETIC MANUFACTURING BUSINESS PLAN

Brief introduction

Bluespa, a Brunner’s
family company, is based in the USA’s Oregon State. The corporation “has
created a brand concept consisting of both skin care and athletic apparel
utilizing multiple channels of distribution” (Bplans,
2017b).  The firm sees an untapped market niche in the
cosmetic industry. Currently there is 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 new product.

Strengths of the business plan

·        
Products of
high quality

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

·        
Focuses
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
women

·        
Bluespa name is not well
established

·        
Faces stiff competition

Analysis

·        
Production and implementation
plans

·        
Market and market
forecasts

·        
Cosmetic industry

2.3 CHALLENCES FACED AND REMEDIES

·        
Difficulties in regurgitating technical information
presented in the plans

·        
Long business plans with more useful
information to synthesize

·        
Difficulties in paraphrasing some
technical statements

2.4 LESSONS LEARNT ABOUT BUSINESS PLANNING

·        
Should be specific and achievable

·        
Should get people committed and bring all parties on board

·        
Be informative and suitable to the need of the business

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

2.5 DEMOSTRATED COMPETENCIES

·        
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

2.6 RECOMMENDATIONS

·        
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

2.7 CONCLUSION

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