Formal report
You are to submit a strategic plan (formal report format) to evaluate the extent to which a business (local SME or the business used in your first assessment) has the potential to become a sustainable/growth business (by giving consideration to the growth models discussed in class i.e. Burns, Greiner, Klofsten; growth through merging, acquisitions, joint ventures etc).
This report should be around 2,500 words (+/- 10%)
• A strategic plan (formal written essay) based on growing your business.
• The plan must be viable and supported by evidence.
• You MUST engage in theory for this final assignment
• You MUST use Harvard referencing
This growth plan should be based on the last business plan (Attached)
Reqirements:
1. Content.
2. Executive summary: An initial executive summary, summarising the detail of the growth proposal.
3. Introduction:
a. What is the business?
b. What is the market?
Include market and competitor information, outlining what part of the market you are targeting, key competitors and what differentiates you from them.
c. Forecasted financial figures
d. How much money is needed?
4. A written overview of the business’ growth aims:
Give the reason for the business being established – include business goals, for example, whether ambitious growth is desired or a regular, steady trading level.
5. Some detail about its product or service:
a. Description of what it does (technical data goes into Appendices)
b. Why product/service is distinct or unique
c. Brief survey of the competition
d. If a product, possibly a statement about protection?
6. The management team:
The management team and their respective roles
a. Record of people working (or to work) with you
b. Personal SWOT analysis relevant to the business
7. Add details of key personnel and their relevant experience. Also, add operational information like office location, special equipment and expected employee headcount, etc.
8. Marketing strategy:
– Market size, past and future growth
– Analysis of market into sectors – which is your business aimed at (primary, secondary, tertiary, B2B, B2C)?
– Competitors – who, their size, position in market, likely response to your challenge
– How will you sell? Internet? Direct mail, phone, etc.
– How will you price?
Think about your sales and marketing strategy, include information on how the product or service will be priced, channels to market, advertising and marketing plans.
9. Financial information and forecasts:
Your plan should also include a cashflow forecast and a projected profit and loss forcast. The figures used must be reasonable – avoid being over optimistic.
10. Logistics:
a. Where will it be based?
b. Suppliers
c. Manufacturing facilities
d. Equipment needed
e. ICT strategy (e-Commerce options? Websites? Etc.)
11. Action plan for five years.
12. Show if you want to make an Internal growth or an external growth.
13. It is required to talk about the business in term of the stages of Greiner Curve phases ( Please see figure1 ) to help on how talking through the phases. Please note that figure1 is for helping only as it is required to explain the figure through each phases in term of my business.
14. In this assignment it is required to show if you are:
a- Invention or Innovation.
b- First movers or Followers.
c- Incremental innovation or Radical innovation.
15. At the end of the report it is required to:
Show if you want to merge or acquisition your business to expand your business and avoid failure.
16. Appendices:
Any additional information that is useful to your argument: (e.g. Technical information, location information, Internet pages, etc.).
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