Managing in the Service industry

Managing in the Service Industry

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May 14 , 2010

A business plan is a written document stating the aims , mission , vision objectives , and the general management , cost incurred and planning how you will achieve what you want . It 's a very important document for it will underline guidelines for future purpose of the organization and start to establish baselines for success (Bruhn Georgi , 2006 . A well written business plan should contain a three to five-year cash flow projection . This cash flow will aid the investors

in deciding wisely about the business and make you to realize how much capital is required to start the running of the business . It should deeply define the business operation which include marketing strategies , and procedures to be followed to attract the customers . It might also project various strategies that display the leadership styles to be portrayed by the leaders which should be transparent and flexible

Business plans are established for various objectives for example an organization might be searching for finances from investors a group would be in need of bank loan while others will want to plan organizations strategy to be sure the organization is successful . No matter the purpose all types of business requires a business plan (Bruhn Georgi , 2006

Steps in writing an excellent business plan

Lay down the main purpose of the business

Collect all the needed data and information of the business purpose

Focus on the purpose based on the compiled information

Important factors of...