Assignment 4: Final Business Plan Due Week 9 and worth 220 points Now it’s time to pull everything together and create your final business plan. Make sure to review all the feedback you received for Assignments 1, 2, and 3, and make the necessary corrections. Then copy and paste it all into one document, and add an executive summary and an exit strategy. The executive summary is a snapshot of your business plan as a whole and should touch on your company profile and goals. Additionally, the most successful exits in business require considerable planning. You will need to discuss two key factors to consider when planning your exit strategy. Write a five (5) page paper in which you: Write a one page executive summary that includes your company profile and goals. Revise and insert the business models section you developed for Assignment 1. Revise and insert the target market section you developed for Assignment 2. Revise and insert the startup funds section you developed for Assignment 3. Write a one page exit strategy where you discuss two key factors you would consider when planning an exit strategy. Provide explanation to support your reasoning. Format your assignment according to the following formatting requirements: Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
Business Models
There are various business models that an enterprise can apply for its operations. This includes the utilization of direct sales. This method entails the utilization of sales individuals who can be able to directly offer various products or even services to clients (Cohen & Kietzmann, 2014). However, the salespeople require some connection that can allow them to have direct access to the parent company. As a result, the tools that they are offered ensure that they are in a better position to become entrepreneurs.
A franchise can also be opted for to facilitate the activities carried out by an enterprise. It often involves a situation in which those who own businesses are required to purchase the enterprise strategy that other organizations are able to utilize (Wirtz et al, 2016). A relationship is formulated between franchisors and the franchisees. The enterprise that offers the products that are to be sold to consumers face a reduction in the expenses that it is required to incur.
Freemium models are common where the nature of the services on offer are either personal or they may also be related to the activities being carried out in relation to a business. The services provided attract no expenses from clients for an appropriate foundation to be laid for any transactions that might be necessitated in future (Schaltegger, Hansen & Lüdeke-Freund, 2016). Hence, it facilitates the formulation of relationships with clients.
The model that would be suitable for the operations of the enterprise pertains to direct sales. This is because the schedule that can be utilized to reach clients is quite flexible. The products can be evaluated in relation to what is most acceptable to clients to increase the revenues obtained. In addition, the demonstrations utilized would be designed to fit client requirements.
References
Cohen, B., & Kietzmann, J. (2014). Ride on! Mobility business models for the sharing economy. Organization & Environment, 27(3), 279-296.
Schaltegger, S., Hansen, E. G., & Lüdeke-Freund, F. (2016). Business models for sustainability: Origins, present research, and future avenues.
Wirtz, B. W., Pistoia, A., Ullrich, S., & Göttel, V. (2016). Business models: Origin, development and future research perspectives. Long Range Planning, 49(1), 36-54