finance
The essential elements of the plan are generally recognized. The preliminary sections set the stage for the reader. Make the first impression professional, concise, and informative because the reader may spend only a few minutes reviewing each plan. The major sections of the business plan describe the new venture's strategy, operations, marketing, management, financial plan, and ownership structure. These sections need to be as detailed as possible and internally consistent. The concluding sections provide details on timing, schedules and milestones, and a summary. The appendix contains reference material for documentation.
Each plan must be well written and organized, and it must anticipate the many questions that the reader will have about the business. No plan, however, can answer all questions that may arise. It is important, therefore, that entrepreneurs be familiar with all the details so they can respond to potential unanswered questions and critiques.
After choosing the form of the business organisation the next start up problem is the choice of the particular product or service to be manufactured by the firm. It is an important decision because rest of the challenges of setting up a business are based on the type of the product the firm wants to produce. This decision can be taken through a comparative analysis of the several products or services that the firm can provide. The analysis involves assessing the size and structure of the market for the products; determining the future demand pattern for each of them; comparing their competitive positions in the market; graphing the life cycle of each product; finding the shelf life of each product. The ease of availability of raw materials, technology for production as well as the manpower are other important determinants. Government policies and regulations can also help the entrepreneur in taking the decision.
Central Government and the State Governments provide incentives for manufacture of certain products by small scale units.
The most important promotional measure being the reservation of several products for exclusive manufacture by small scale industries. Large/Medium units can, however, manufacture such reserved items provided they undertake to export 50% or more of their production. Also, there are some agencies and organisations which provide entrepreneurs with the necessary information required in making a product choice. The Commissionerates or Directorates of industries of different States provide guidance to the entrepreneurs with respect to the particular State. An entrepreneur can also study the industry clusters of India to get an idea about the type of products best suited for production in particular areas.massage for women london | nebosh training courses | kesh king shampoo |
Subscribe to:
Comments (Atom)
No comments:
Post a Comment