MGT5EBP
Individual Business Plan Home work | Assignment Help
Headings
Title
page
Executive
Summary
Table
of Contents
Section
headings
References
Appendix
Market
Feasibility
1. What is the size
of the market?
2. What is the growth
rate of the industry?
3. Is the market at
full capacity?
4. Where are
customers getting the product now?
5. Where are the
customers?
6. How many would
purchase from you?
7. What external
factors come to bear? Government, Industry Dynamics
8. How long will this
opportunity last in the market? (Window of Opportunity)
9. What keeps new
competition from entering this market? (Barriers to Entry)
Technical Feasibility
Questions to Answer
1.
What are the options for developing the
technology (customer, off the shelf, design yourself, subcontract)?
2. What are the
options for producing the product or service?
• In House
• Subcontract
• License
• Joint Venture or
Partnership
• Combination
3.What are the
options for Sales and Distribution?
• In House
• Whole Sale
• Distributors or
Sales Representatives
• License
• Joint Venture or
Partnership
• Combination
4.What resources are
required for development and are they available to you (skills, raw materials,
components, suppliers, facilities & equipment)?
5. What are the laws
and regulation relating to the business?
• Industry Standards
or Regulations (Dangerous Goods, (Canadian Standards
Association - CSA),
ISO
• Personal
Certifications
• Intellectual
Property (Patents, trademarks, copyrights)
• Environmental
Liability
6. Has the research
discovered any moral or ethical issues that you are uncomfortable with?
7. What technological
changes are changing or emerging that may affect the business?
Financial Feasibility
1 What are the
projected Revenues from the sale of your product or service?
• From the Market
Research, what is the projected sales volume in "units sold?" and in
"dollars sold"?
• From the Market
Research, what is the selling price per unit?
• What is the total
expected revenue?
2. What are the
financial dynamics and opportunities?
• Costs Structure (per
unit basis)
- Price per unit
minus
- Variable Costs
(Cost of Goods Sold & Controllable Costs) per Unit equal
- Gross Margin per
Unit minus
- Fixed Costs per
Unit equal
- Net Margin per Unit
3. Is it worthwhile
financially?
• 1 Year Monthly Cash
Flow Statement. (Completed in a spread sheet format so it can be built upon
with new information)
• Ensure that you
clearly show all assumptions for this statement.
4. How much
investment is required?
• One Time Assets and
Startup Expenses
- Plant &
Equipment
- Leasehold
Improvements
- Initial Inventories
- Research &
Development
- Legal
- Experts
• Operating expenses
prior to break even
5. What are the
financial risks?
• Break Even Analysis
Units to break even. (Total fixed costs from Income statement
divided by Gross
margin per unit) Figure out on a monthly basis.
• Payback (Investment
required divided by net margin per unit - Date when units calculated above are
sold & collected.)
• Return on
Investment (Yearly Net Profit divided by Total Investment required)
• Risk vs. Reward
(Personal feelings of the risks and rewards)
• Opportunity Costs
(Can you get a better return somewhere else?)
• Personal Financial
Risk (What will you have to give up. Sign over mortgage etc.)
6. What are the
possible sources of financing?
• Chances of getting
the money?
• What will you have
to give up?
7. General Financial
Numbers that would indicate attractiveness of Venture
• Gross Margin 20 -
30% plus
• Net Profit Margin -
10 to 15%. Plus
• Return on
Investment - 15% plus
• Payback - 3 years
or less.
• Break even - 2
years or less
• Note: These numbers
must not be looked at in isolation over a one year period. You need to look at
the numbers over a 3 year period and as a whole, not just individually.
Industry averages can be quite different.
Human Resource
Feasibility
Questions:
1. What technical and
management experience is required?
2. Who are the owners
and what are their roles? (Entrepreneur, Manager, Tech. Expert)
3. What is the
ownership structure?
4. What are the
manpower requirements?
- How will you find
the right employees?
- How will you
compensate employees (pay for time, for production, for knowledge, or a
combination)?
- How will you
motivate employees?
- What training will
they need on an ongoing basis?
5.What is the
company’s growth strategy?
- How will quality be
managed and maintained÷
- How will
organizational structures change with growth?
- What career paths
will employees have available?
Appendix A
Start-up Expenditures
and Expenses Worksheet
Item Total Cost Cash
Required
Land __________
__________
Capital Equipment
__________ __________
Computer __________
__________
___________
__________ __________
___________
__________ __________
Beginning Inventory
__________ __________
Start up Supplies
__________ __________
Licenses and Permits
__________ __________
Leasehold
Improvements __________ __________
Utility hookups&
Installation __________ __________
Advertising
(Preopening) __________ __________
Insurance __________
__________
Other __________
__________
_______________
__________ __________
Total Estimated
One-Time Cash Requirements __________ __________
Start-up Operating
Expenses
Estimate No. of
Months Total Cash
Item Monthly Expense
X Before Break even = Required
Owners Salary
__________ __________ __________
Employee’s salary,
wages, benefits __________ __________ __________
Rent __________
__________ __________
Promotion expenses
__________ __________ __________
Supplies and postage
__________ __________ __________
Vehicle Expenses
__________ __________ __________
Telephone __________
__________ __________
Travel __________
__________ __________
Interest __________
__________ __________
Maintenance
__________ __________ __________
Other __________
__________ __________
____________
__________ __________ __________
Total Cash Required
to Cover Operating Expenses _________
Plus: Total One-Time
Cash Requirements (Previous Table) __________
Add 10% Safety Factor
__________
Total Cash Required for Start-up
_________
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Our homework help team say that, It is a common fact that
competitive advantage is not based on the financial resources as well as
technological resources; thus, it is one of the main reasons of human resource
and its effective management. Therefore, it is essential to understand different
factors of good management. There are several practices that are implemented by
the business organizations to manage human resource and utilize the human
capital in optimum manner. Different factors of good management are different
programs for development of employees, motivational strategies on the basis of
different theories such as need hierarchy theory, Maslow’s theory of motivation,
etc. Moreover, some other good factors
of management are participate leadership, decentralized decision making
process, etc. All these practices allow the management to polish the hidden
skills and non-contingent capabilities of the employees so that they can firm
in favor of the firm.
