Question

The business plan outline has six step they are; 1. Business description 2. Marketing 3. Management 4. Finance 5. Critical risk 6. Harvest strategy ( give example for each)

Answer 1

Answer : Business plan has outline six objective such as :

• Business Description - It should provide description of the product in detail as order to provide about specialisation of the product well in detail. Example : Donut company has been selling gluten free Donut or subway provides there own bread . It means specialisation the product has been given greater importance.
• Marketing : It should include how to present the product in the eyes of the customer. There main purpose is how to attract a person with there product in the market place.Marketing means targeting there customer. Example : How Bata footwear attract there customer.
• Management: It includes how management Should assigned there Business profit in a proper manner as well as how they prepare there operating statement. Example: How company should assign profit to the particular category?
• Finance : It includes that how money should be inflow or outflow from business. It means that how money should be well utilised in the business profile.
• Critical risk : It means risk associated with performing the business. The risk related to the business example are risk associated with the product.
• Harvest strategy : A harvest strategy is a business plan for either cancelling or reducing spending in the market. Example : A soft drink company has been terminated investment portion I.e reallocated the funds from the market.