Date due

  • Category:
    Management
  • Document type:
    Assignment
  • Level:
    High School
  • Page:
    2
  • Words:
    1097

Partial Title: 2

BUSINESS PLAN

Strengths and weaknesses of the quality training business plan

Strengths

A major strength in the quality training business plan provides for the objectives, mission and the key success areas that are expected when the plan is taken into consideration. Developing objectives for the organization ensures that the organization has the plans which they need use to achieve the objectives. The development of the mission, vision, purpose and marketing slogan helps the organization to compare what they set to achieve with what they achieve at the end of every unit period. Similarly, with the development of the mission and objectives of the organization, it is easy for the organization to develop a company structure which provides for the management and easy growth of the organization. The structure of the company provides that the organization has two directors who manage the organization. The organization is going to be jointly owned by Michael Chapman and Elliot Berkley. Since the business plan provides that the business will be ran from a home office, they specify the facilities and property that will be owned by the organization to ensure that now issues arise between the personal property owned by the individuals and the company’s property.

Secondly, the business plan has also developed key success issues that need to be considered when the quality training programs are being undertaken in the organization. the key success issues provides for information on the activities that need to be conducted by the organization to ensure that they achieve optimal performance within the organization. In this way, the organization’s business plan has been able to provide for information on the development of relationships within the organization. This means that the organization will be able to enjoy repeat customers who are loyal to the organization. the key success factors also provide for the development of marketing and networking strategies to ensure that the organization identifies potential candidates and follows up to try and convince them to become loyal customers to the organization. Other key success factors that have been identified and developed by the business plan are the provision of quality services to help outdo the competitors, consultation to promote effecting training programs in the organization for the customers, follow up issues and growth. The growth factors provides the shareholders main objective of going into business as being the maximization of profits. The organization business plan seeks to provide training solutions to promote growth and as a result enhance the profit maximization objective.

Weaknesses

The main weakness in the business plan is in the management of finances as provided by other business plan. The business plan that has been developed by the organization fails to establish the financial issues well. Among such issues include the sources of capital to finance the new business venture [ CITATION Nad09 l 2057 ]. In as much as the plan has identified that the business will be ran from a home office, the costs of starting and maintaining the business may be reduced. However, there are still other issues in the operations of the business that will provide for an increase in the costs that are faced by the new business venture. For this reason, it is important that the business plan should have considered the source of the capital. Since the organization is to be jointly owned, the partners should have also determined their profit and loss sharing ratio according to the capital contribution that each of the partners put to finance for the new business venture.

Strengths and weaknesses of the catering business plan

Strengths

The study will be conducted on the sample business plan provided for the bright future youth and family service for children. The business plan has developed an some important strengths that are to ensure that the organization achieves its objectives easily. The main strength that is developed in the organization is in the activities that are undertaken by the organization such as the funding program, employment and the resource management and in the management of stock such as purchases for food and materials that are required to launch the catering business. The business plan provided for the bright future youth and family service for children the business plan provides for funding programs to help increase the size of services that they provide to their customers. In this way, the organization is able to track for possible expansion opportunities within the organization. the organization currently serves more than 2000 children, therefore it is important to consider a number of issues in order for possible expansion opportunities to be effected. The organization business plan also hopes to expand and increase the staffs who have been employed by the organization to cater mostly for the afternoon classes. Similarly, another consideration made in the business plan is the purchases for additional inventory to be made in order to launch the catering business within the organization. The bright future youth and family service for children business plan has identified an opportunity within the organization to promote catering as an opportunity to serve the large size of children who have identified themselves with the organization. Just like any other good business plan, the bright future youth and family service for children business plan also provides for the mission, objectives, vision and the key success factors that the organization wishes to achieve. In doing this, it makes it easy for them to track their performance and compare it with what they plan to achieve at the end of each unit period [ CITATION Hel16 l 2057 ].

Weaknesses

The main weakness provided in the business plan for the bright future youth and family service for children is that it does not provide for the sources of funds and also fails to check the possibility that the business venture may not become as profitable as they initially anticipated. Currently, the organization has established about ten programs that serve varied needs for the community children. In as much as the new program may have a backing of the more than 2000 children that the organization serves, the plan should also need to consider the possibility of losses also being experienced in the organization. similarly, the plan does not provide for the source of capital to start the new venture that they plan to establish within the organization.

REFERENCES

A. R., & N. P. (2009). Swot Analysis — Idea, Methodology and a Practical Approach. Norderstedt, Germany: BoD – Books on Demand.

Helga, D. S. (2016, May 13). Catering business plan. Retrieved from Bplans: tarting a business made easy: http://www.bplans.com/catering_business_plan/organization_summary_fc.php