Business Plan

Business Plan Order Description You remember me ? i just want you do again, please!i want to pass. Refer to the Business Plan Writing Timeline and start working with your group on the sections under Week 1, namely: Company Description Product or Service Location and Infrastructure First and foremost the task is to develop a business idea for a new, small fictional business within the hospitality or tourism industry (e.g small hotel/hostel, restaurant, bar, wedding agency......). The idea is that you develop and evaluate a new business idea. After scanning the macro environment you will then conduct some market research and a competitor analysis. You assess demand levels. From here you develop your product/service, formulate a strategy and marketing concept. You will assess location criteria and infrastructure requirements and decide on the legal form of your business. You design your organisational structure and define your personnel requirements. You will analyse risks and develop contingency plans accordingly. Your financial planning will include looking at start-up costs and your budget, break-even analysis, cash flow, sales forecast and opening balance sheet. Here the focus will be less on the figures itself than you demonstrating your understanding of the different financial frameworks in general. Part of the task is also to not only conduct secondary research but primary research (surveys, observation, interviews). Theory also needs to be applied in more depth and backed up with evidence which is to be referenced accordingly. Your course work presented me with a business plan of an existing business, UPS, outside of the hospitality / tourism sector and no primary research was conducted. The application of theory was rather generic and required much elaboration. References were mostly missing. Most sections required much elaboration.