Strategic Management

1What are the most important elements of a Business Plan? Why? 2What other elements should be added to the Business Plan to encourage potential investors?  3How important is accurate financial data to the Business Plan? Why? I need it set up as Q1. A1 means here is example below BUSINESS ENVIRONMENT   Q1: What questions do you have about the overarching Unit 5 assignment?  Although it is not due until the end of the class, it is important that you begin planning for this project early in the course.   A: The questions come to mind at the moment is who will remain in class? What will be my final grade in the GP, if all the other students work isn’t up to par? Will everyone contribute to the GP and db on time?   Q 1b.What are your initial thoughts about how you will approach this assignment?   A: Explain.   Although challenges have come to me about the assignment, I am diligently working on each as it appears. I am on a scheduled time line to work on the assignments daily. Making sure that I use all of the information I have obtained in business. Analyzing and viewing organizational structures. Reviewing and using all business information pertaining to the demographics and business plans in an organization available. Reviewing all of the materials in the assignment has helped to combat any info needed to complete the assignments.   Q2.What are the most important elements of a Business Plan?   A:  In writing out a business plan the most important objective to remember is the essentials in each section of the plan and making sure all of the fine details are included., The overall outline of the business plan should be negotiated towards why the plan of action  for the business is needed. Fist, the business plans are needed and should be taught to establish and explain the start up (Bemayo, 2010). Beginning with the executive summary that should be made so that the person ho viewing the plan and has a better understanding of the desired idea of the business. Also the reader viewing has a clear understanding of what is being requested. Basically a SWOT analysis should be reviewed in order to determine if the business plan is workable and interchangeable. The several objectives that should be in a business plan are as follows: Executive summary Overall vision and statement of business existence. Value. Competitive Analysis/advantages Determines the company strengths and weakness in competition of the market Design Describes the product or service why it is needed, and what it does Expenses for Business The concept of the business and what the investment is needed Financial Budget The cost of the material for inventory to run the business Operational set up The entities in the company that delegates policies and procedures of job responsibilities in human resources and manufacturing for inventory and distribution   Q2a. Why?   A:        Tangible and intangible factors play a huge role in making decisions for the business. Also multiple components play a major role in changing and resistance to change including advocate ,time frame of change, impact to the culture in which the change is taking place, and evaluation the development in performance for the change .   Q3.What other elements should be added to the Business Plan to encourage potential investors?    A: Marketing, marketing customer relationships, marketing mix, marketing communication and distribution. All parts of marketing cost should be viewed so that the analysis of the area can be made in which the products or services will be given. Marketing plays a huge role in the business plan because it grabs the audience in the market and can have specific targets that will help better position the company in sales (Ed.board, 2014). Industrial design and product overviews are also important to run a business. The strategy can be reviewed in different areas of digital marketing and media. Another element would be ethical and political views in the operations that help influence the customers and staff in the business internally and externally. Also understanding the cultural and diversity in the area can help demographically improve the marketing and target better for customer relationship and revenue building.   Q4.How important is accurate financial data to the Business Plan?   A: Financial information decides if your business is able to sustain normal business affairs on day to day bases with changes and unplanned circumstance.   Q4b. Why?   A:  Finances’ make up the  80% factor of business with vendors, materials, operations and employment wages. These factors help make the business prosperous and all have a cut in the financial budget of an organization.     REFERENCES   Bewayo,E. (2010). Business plans. why do we teach them? Proceedings of the northeast business and economics association .pp.492-496 Editorial Board(2014). Marketing management (1st.ed).words of wisdom. Retrieved on November 21st,2017 from AIU online.ebooks.proxy.com.my education   David .F,& David (2015). Strategic management. A competitive advantage approach concepts and cases..(5th,edition). Published by: Pearson Education Upper Saddle River NJ. ISBN: 9781323 Retrieved from, AIU online Library www.ebooks.proxy.com my education.