An Analysis of the Components of a Business Plan

An Analysis of the Components of a Business Plan The purpose of this paper is to analyze the different components of a business plan. Each part will be described in a brief overview, with more focus being put on specific sections. The Small Business Association has outlined each of the documents that make up the proposal on its website. This guideline provides accessibility and reference for businesses to create a roadmap of their own. One important document for any company to include in their business plan is an executive summary. This component informs readers of what your business does, where it is planning to go, and what will make the company successful. The contents of this abbreviated description varies depending on the stage of a business. A well-established company would include its mission statement; explaining what the business does and stands for. The executive summary would also contain financial information such as current investors, and increased growth/profits each year. A new business on the other hand, would describe the decisions and background leading to the startup of the new company as well as the owners’ experience. This information is intended to show potential investors why the company would succeed in its target market. Another key aspect of a business plan is the company description which reviews the different aspects of a business. This is where a company will explain what market their services or products will satisfy a need. Typically following the company description is a market analysis which describes the industry and target market for your business. This is where a company will describe their strengths, weaknesses, and other components of the competitive landscape within their target market. After this, a business will explain its organization and management structure which is an overview of the company’s internal hierarchy. This includes a detailed description of the owner and management team, with resumes for reference to experience. An extremely important part of a business plan is a company’s service or product line which explains their product or service and how it will benefit consumers. This section provides specific examples of how the business’s product or service will fulfill customers’ needs and why it supersedes any competitor’s products or services. Two important details to include in the service or product line is how long its life cycle is as well as any copyright or patents that have been obtained or are still pending approval. Along with copyright and patent information, it is imperative a company lists any legal agreements to be acknowledged by the public. Following the service or product line, a company should state their marketing and sales strategies implemented to make their business successful. This information includes detailed explanations of marketing, growth, distribution plans in addition to strategic sales force and sales activities. Most companies seek financing from a variety of investors and therefor, must specify in their funding request, what this money will be used towards. Information listed in this section includes current and future funding requirements, intended use of the money to remain transparent with potential investors. One of the last pieces to include in a business plan is the financial projections, this is a company’s opportunity to demonstrate its current fiscal data and forecasted projections for coming years. Important points to reference are financial details from previous years such as statements, income and expense sheets, as well as collateral to use for loans. Companies must ensure the projections match funding requests to prevent prospective creditors from finding inconsistencies. Using graphs to represent positive economic growth, most businesses are able to successfully showcase their initiative to potential investors. The final piece to include in a business plan is the appendix, which contains all reference documents, such as product pictures, credit history, licenses and permits, legal contracts, and reference letters. To conclude, a business plan has multiple components that serve as an overview of a company’s proposal to attract customers and investors alike. Each section contains vital information to a business’s marketing and organizational analysis and strategies, funding requests, product or service features, and an overall company description. This plan provides detailed information regarding a company’s business model and future projections. The different information listed lends transparency between a business and the public.

Smoking Ban Case Study Example | Topics and Well Written Essays - 500 words

Smoking Ban - Case Study Example If these laws are in acted, the majority of the society or the 80% of the adults who do not smoke will benefit as their exposure to cigarette smoke and its harmful effects will be reduced. 2. A state should have the moral as well as the legal right to decide about the areas where smokers can smoke. This is because the state has a duty of care towards its citizens. According to the ethical theory of care an individual should make decisions while taking into consideration the people they are supposed to care about (Iep.utm.edu, 2014). The state and its representative have taken oath to make rules and regulations in order to protect its citizens and thus they have a duty of care to protect the citizens. Based on these principles, the state should implement such laws in order to protect its citizens from the harmful effects of cigarette smoking. 3. One alternative to a total smoking ban as discussed in the case is the allocation of a separate area to the smokers so they can smoke without disturbing or risking the health of others. Organizations such as restaurants and bars can develop a separate area for those smokers who want to smoke and for those who do not smoke. Secondly, a total ban on smoking in enclosed areas and allowance of smoking in open areas can even be a useful option. 4. There are various steps that the law has dictated that can be taken by an organization to demotivate employees from smoking within the premises of the organization. These steps include the exhibition of signs on the entrance of the organization that state that on premises smoking is not allowed. Secondly, signs should even be placed on the door of the areas where smoking is permitted. These guidelines have been clearly stipulated in the laws of the California Indoor Clean Air Act that was enacted during the period of 1976 (Smoking.uslegal.com, 2014). 5. Cigarette smoking should not be banned completely or cigarette smoking should not be considered as an illegal act.

Software to support assessment Essay Example | Topics and Well Written Essays - 750 words

Software to support assessment - Essay Example I would also have the ability to look at the students’ quiz and test scores, as well as time spent in answering individual questions and how much time was spent in finishing the test. Results from the assessment would aid me in the identification of the areas that students did not comprehend satisfactorily. Following the analysis of the results, it is easy to reconstruct the methods of teaching that would allow me, as an educator, to teach lessons in a way that the students can comprehend (Russell 1). Formative assessment is embedded, typically, within the process of instruction. A simple way of defining formative assessment is that it is used during instructions. It can be utilized to determine the topics or needs that require addressing with a student. It can be used to identify gaps in what has been learnt and the reason they are struggling (Hickey 1). It includes homework, tests, and interaction with the students. For instance, discussions can include allowing children to put down questions and answers before learning topics. One very valuable component of this assessment process is descriptive feedback where, using technology, the teacher can point out the areas the student did well in, as well as offering suggestions for specific improvement. Summative assessment, on the other hand, is given to students following specific instruction points to measure how they understand a subject. Various examples include final and midterm exams, interim or districts tests, standardized state exams, and high stakes exams (Hickey 1). They can be utilized for checking subject mastery after a few months or weeks. Technology can be used send questions to parents to conduct summative assessment using provided questions. Use of technology to assess student learning has various advantages. First, it can improve authenticity, as well as alignment with outcomes of learning. TEA can take many forms and the flexibility of design allows for the assessment of a wide array of c ompetencies and skills. It also provides the educator with opportunities to replicate tasks expected of students in a workplace in an environment that is risk free (Penuel & Yarnall 1). Secondly, it also helps in the clarification of marking criteria. Virtual learning environments allow the educator to present criteria for assessment in the module, which ensures the criteria, is accessible and transparent. Thirdly, it spreads, for students and staff, the assessment load. TEA eases resource re-use and repurposing while enabling automatic marking that reduces the workload. Finally, it improves engagement with students, as well as the promotion of deeper learning. Technology used in assessment-enhancement enables diverse methods to be used in improving grades, allow frequent formative assessment, and support active learning (Penuel & Yarnall 1). However, TEA use has a number of disadvantages. One major issue in the implementation has to do with cost in terms of effort, time, and money that should be weighed against pedagogic benefits (Penuel & Yarnall 1). There are also issues with accessibility as most staff and students’ digital literacy is not on a level playing field, making some uncomfortable in using TEA. Special students’