Analyse a business plan
Business Plan 1 – The following answers parts 1 to 4, including a comparison with the criteria for an effective business plan and the associated strengths and weaknesses.
The business plan ‘Quality Training’ has been implemented for the purpose of providing high quality training to clients to improve the productivity and performance of participants. To analyse the business plan, we will be assessing the report in its relevant sections.
Firstly, the cover sheet identifies the key element of the business name. However, other relevant details such as the author – assumed to be the joint owners Michael Chapman and Elliot Berkley – contact details and a brief ...view middle of the document...
It should be noted, that this section fails to detail why the company will be successful, however comments such as “quality training has no current debt” and the P&L from 2005, in addition to the reasons stated in the executive summary in summation provide substantial evidence as to why the company will achieve its objectives.
Section three identifies the services offered by Quality Training. Simplistically, it is a listing of the qualifications offered and the programmes, which can be requested on a stand-alone basis. This section disregards the requirement to include the benefits of the service offered and the unique qualities of the services.
The competitive comparison section provides a detailed analysis of the market forces experienced by the Quality Training business. Impressively, the section identifies its predominant competitors and notes how this risk will be mitigated and market segments obtained; through targeting the small company niche. Pricing, trends and the marketing plan are then presented in the subsequent sections. Of particular mention is the market trends element, which identifies various factors in the market place. For example, it identifies the effects of population growth, retirement ages, and the volume of workforce entrants. Then proceeds to elaborate on how Quality Training will leverage of this.
Overall, it is important to identify the sections that have been omitted from the report, hence causing it to not achieve its purpose. Elements such as the operational plan, detailing how the general day-to-day processes will occur at the company, and the risk analysis, identifying risks and their associated mitigating controls to ensure these do not occur, have not been presented appropriately. Furthermore, the report there was mention of certain financial reporting data being included as part of the report. For example, the P&L from 2005 was mentioned as being attached to the business plan however this could not be evidenced. Furthermore, other data such as the balance sheet - detailing the company’s financial position - budgets, and sources and allocations of funding was not identified.
In conclusion, the Quality Training Business Plan is a reasonable attempt to present a comprehensive report, which meets the four critical functions required in a business plan. As previously mentioned, its strength is the comprehensive and coherent way of conveying vital information to the reader. Conversely, its weaknesses are its lack of certain pieces of information. Despite highly important sections being omitted or presented in an unclear manner, the report will potentially be successful due to the effective method undertaken.
Business Plan 2 – The following answers parts 1 to 4, including a comparison with the criteria for an effective business plan and the associated strengths and weaknesses.
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