Forming Business Plans
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http://www.business.govt.nz/tools-and-templates/educational-resources/business-plans Become more familiar with the concept of Business plans. ACTIVITIES Activity 1 Researching business plans Students can learn the scope of business plan techniques by researching business plan competitions online. Either individually or in groups, they can choose their own plan to study before presenting a report about that plan to the class – covering what worked and what could be improved, and why they think the writers of the plan made their structural decisions (i.e., presenting team members first, for example, or focusing on financial projections). If you want to set the field of research, go online and choose some varied examples yourself, which you can then hand out to the class. Discuss the similarities and differences, focusing on the different priorities and structures given to each business plan. Ask students why they think the executive summary feature has become almost universally used, and which of the business plan examples they think was most effective and why. Activity 2 Developing a business plan Using the Business Plan Essentials guide in the student handout with online resources from Business.govt.nz (listed below), ask students to form groups of five if possible, to develop their own business plans. They must decide on an industry, product and brand name before completing the plan, with each student responsible for a section (Executive Summary, Business Strategy, Marketing, Team and Management Structure, and Financial Budgets and Forecasts). Emphasise there is no set structure or ‘right way of doing things’, and that by researching their chosen industry and product type they will be able to assess their business strengths and structure their business plans accordingly. Each plan can then be assessed on the detail of the research, the practicality of its plans and the structural choices the group made in terms of what they chose to focus on. This activity can be adapted to be carried out in class or as a long-term project, depending on the level of detail and research required. Resources: - www.business.govt.nz/tools-and-templates/educational-resources/business-plans/Business-Plans_Student-handout.doc - www.business.govt.nz/tools-and-templates/educational-resources/business-plans/Business-Plans_Presentation.ppt - www.business.govt.nz/starting-up/writing-a-business-plan - www.business.govt.nz/tools-and-templates/tools/templates - www.business.govt.nz/tools-and-templates/online-training/starting-up/quick-start-business-plan
Transcript of Forming Business Plans
Business Plans
www.business.govt.nz
Business Plans…
…Need to be employed byanyone who is in business
…Set a strategy for future growth and can be used toattract investors and loans
www.business.govt.nz
…Business Plans are also kept and developed over time by existing businesses, and even started over when new opportunities arise
They aren’t just used by start-ups…
www.business.govt.nz
Business Plan Essentials:
- Executive Summary- Business Strategy- Marketing Strategy- Team & Management Structure- Financial Budgets &
Forecasts
www.business.govt.nz
Executive Summary
• Introduction to business
• Competitive advantages
• Brief summary of the plan
www.business.govt.nz
Business Strategy
• Tactics
• Strategic Impact
• Business’s core values
www.business.govt.nz
Marketing Strategy
• SWOT Analysis• Market Research • Distribution Channels• Strategic Alliances• E-commerce & Technology• Marketing Budget• Credibility & Risk Reduction
www.business.govt.nz
Team & Management Structure
• Skills, Experience, Training & Retention
• Advisers
• Management Systems
www.business.govt.nz
Financial Budgets & Forecasts
• Profit & Loss Forecast• Cash Flow Forecast• Balance Sheet Forecast• Capital Expenditure Budget• Break-even Analysis
Find Out More
Facebook.com/business.govt.nzTwitter.com/business_govtNZLinkedin.com/company/business-govt-nzSlideshare.net/MED-Business business.govt.nz
