BUSINESS PLAN (Criteria for Business Plan)



BUSINESS PLAN (Criteria for Business Plan)

Introduction

Before moving further in the course of the paper, it is very important to know what is meant by business plan and the business planning process. To start a business a business plan is develop that is made by the Entrepreneur or by the management and it specifies what task are to be made and it describes the mission of the organization. And to achieve that mission and vision statement how the organization should perform and make people under them to work on it. Although these stages follow a sequential flow, none is in isolation. And cannot be completed without taking into account factors present for the next step. In the text of the paper it is essential to mention that a business plan needs to be initiated with the thought that a new product or service must meet a need (Aaker and Joachimsthaler, 1999).

This phase is to identify how to meet that need and can occur in many different ways. Depends on the ability of the entrepreneur to be alert to the possibilities or may be the result of systematic mechanisms to identify opportunities. A business plan describes how you will go to the new company. This is the stage where most entrepreneurs fail; they have rarely done one before and are not technically prepared for their development. In addition to providing guidance for developing the future business, the business plan is important to determine the resources required. It is essential for the development of the next steps (Benady and Simonian, 2005). This first stage helps to account for the resources we have at present. Then, help us to categorize resources in order of importance, distinguishing those that are critical to business performance of those who are only useful as well as measuring the risks that arise when resources are insufficient or inadequateDiscussion

The purpose of this paper is to design a business plan for a leading web designing and developing organization to reach its excellence in providing quality designing services in order to grasp the global market. The company has a history of providing web designing and developmental services to its clients; most of the technical staff of the company is outsourced form India. However, the management is now considering to target banks for its services. Providing banking services over the internet is encircled with a number of risks, like hacking and cyber crimes. On one hand, the security of banking transactions and customer's fund is needed to be considered, while on the other hand the website should be able to cover all banking operations that are viable through online banking systems. For this purpose, it is important that the company should incorporate state of the art technology and trained personnel for grasping the financial market. For this paper, we will go about defining the key functionalities of the company, aims and objectives, and designing am applicable business plan which considers branding, products and services, departmental and financial considerations (Cordell, 2007).

Objectives

65% gross margin for 10 ...