Buseness Essay Example | Topics and Well Written Essays - 500 words

Buseness - Essay Example A business plan can help in identifying the underlying assets or liabilities of the business and also would bring into light the chances of the future business success or loss. It can also provide Micky McDonald with a financial analysis of the business of the future. A comparative analysis can also be made between owning and dumping the business. Therefore, in true sense Micky McDonald can take the decision on facts and figures rather than deciding whimsically (Saint Vincent College, â€Å"Importance of a Business Plan†). A business plan generally consists of the executive summary of the related ideas, the methodologies, the finances and various other aspects. In relation to the topic, it is very important to prepare a business plan in a very cautious manner. As the firm has been running in losses, it is quite significant to analyze the reasons for the failure of the business. The business plan should be in line with the failures of the firm in the previous period and its chances in the future. Actually the business plan should be based on the learning of the early failures of the business. A SWOT analysis and development of the value chain is very important in the business plan as they would act as a barometer for the success if the plan is accepted. Major emphasis should also be given on the distribution as it is one of the major focuses of a marketing firm. It should also make clear the objectives and the values of the firm. The dimensions to the business plans are infinite but the major focus should be on turning the sick business into a profit making one (Hadzima, â€Å"The Business Plan†). It is very important to have a business plan irrespective of the nature of the business being dynamic or static. In present day scenario, each and every business is operating in a dynamic environment. The business plan actually gives the business the much needed direction. The demand for the apparels used while snowboarding would be fluctuating but the