Research typical business plan models Essay Example | Topics and Well Written Essays - 1000 words

Research typical business plan models - Essay Example It is paramount for a business to have purpose and this must be well elaborated in the executive summary (Doan, 2013). Mission and keys to success are deliverables a business must achieve to be successful. Market Analysis Summary, Strategy and Implementation Summary, Management Summary, Financial Plan and appendix are all available in every model. This is so because the concept of any business is to make a profit and for that to be achieved the above sections must be adequately analyzed. Contrast: The contrasts notable in the above layouts consist of business scope; where online businesses entail web plan summary, which is absent in other layouts. The online businesses come with internet risks, and that is the essence of web plan summary to ensure information security is properly handled. Another notable contrast type of business (step 3.0) done. Businesses that are for service delivery must handle service delivery issues, and product providers also need to handle products issues. Th ere are those businesses that provide services and products; such businesses must handle issues pertaining service delivery and goods provision. The strengths and limitations of these models Strengths: Models above provide clear road maps for transforming businesses into profitable investments. The executive summaries of the above models are well elaborated. This is a strength consideration since achievement of objectives is based on the executive summary. A thorough market analysis of potential market is significant to producing a strong business plan. Strategy and implementation summaries are essential in a business plan development since they guide processes execution in line with business’ objectives (Doan, 2013). Management summary is vital in a business plan since a number of resources are integrated to achieve objectives. Providing comprehensive background information about management and executive team is critical to an effective business plan. The plan must clarify t he expertise and experiences of management member that translates into fruitful management of the business. Strong business plans comprise all the financial records needed to scrutinize and compute income projections, cash flow, and expenses. The documents must include financial statements and practical operating budgets. The advantages discussed above concerning the various parts of business plan give strengths of the above models. The structural layout is another strength that must be noted since systematic approach of a plan is essential. Executive summary then consequentially followed by company, business type, market analysis, strategy and implementation, management and lastly financial plan summary is chronological steps essential for business plan. Limitations: The models limitations involve implementation issues whereby after they have been properly designed entrepreneurs do not adhere to requirements. These models are restricted to small businesses and also one kind of acti vity. The models may not work well with businesses that entail diversifications and large corporations. The models also lack regulations part as this is a crucial compliance issue that businesses must fulfill. It might be considered in one of the subsections, however, could be more elaborative on its on summary. Comparison of these models to the business plan models in either Microsoft Project or Apple Merlin