Business Plan Analysis

Business Plan Analysis

When reviewing the literature on creating the “perfect” business plan, one discovers there are almost as many ideas about what constitutes a business plan as there are business plans themselves. In the text there are sixteen steps outlined that are recommended when preparing a business plan. While each type of business (service vs. product, manufacturing vs. retail, etc.) requires a unique business plan, most or all of them include a majority of the following suggested steps:

Make a commitment to go into business for yourself.

Analyze your strengths and weaknesses.

Choose the product or service that best fits your strengths and desires.

Research the market for your product or service.

Forecast your share of sales revenues.

Develop a program of total quality management.

Write a cover letter that summarizes the business plan, stressing its purpose and promise.

The important thing to remember is that each business is unique, and, as such, the business plan steps above are not written in stone. Some of them may need to be modified depending on the type of business chosen, or others of them may not be applicable to some kinds of businesses. Further, many other sources on creating a sound business plan suggests lists of steps or elements that are different than those listed above. For example, SMP & Associates, financial and business consultants, only recommend the following steps be included in the business plan: executive summary; the company’s operations; marketing; management; description of stock (if applicable); capitalization; use of proceeds; dilution (if applicable); financial analysis; risk factors (SMP 1).

AMERICAN MANAGEMENT TECHNOLOGIES BUSINESS PLAN

The company business plan under analysis is American Management Technologies (AMT). AMT is planning to start up a business that operates on the assumption that management information technology is not a do-it-yourself aspect of business….

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