Review the essential components of business plan

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Reference no: EM133213694

Assignment:

You are to consider a new cafe business you can develop. Consider areas of your expertise, where you can provide benefit into a business environment. You will need to refer to this "potential business" in other units.

This requires you to:

1. Research:

• Identify the purpose of your business plan

• Identify and review the essential components of your business plan

• Identify and document your business goals and objectives as a basis for measuring your business performance

2. Develop the plan, ensuring you:

• Research resources, legal and compliance requirements, specifically in relation to occupational health and safety (WHS), in accordance with business goals and objectives

• Research market needs, and market size and potential

• Identify sources and costs of finance, from the financial plan, to provide required liquidity and profitability for the business

• Identify methods, from the marketing strategies, to promote the market exposure of the business

• Identify methods/means of production/operation from the production/operations plan to conform with business goals and objectives

• Identify staffing requirements to effectively produce/deliver products/services

• Identify specialist services and sources of advice, where required, and cost in accordance with resources available

3. Develop strategies for minimising risks, ensuring you:

• Identify specific interests and objectives of relevant people and seek and confirm their support of the planned business direction

• Identify and develop risk management strategies according to business goals and objectives, and relevant legal requirements

• Develop contingency plan to address possible areas of non-conformance with the plan.

Reference no: EM133213694

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