Business plans serve as blueprints key in determining the strategies through which organisational goals can be achieved (Scarborough, 2016). Apart from ventures that are bound to be started, the documents can also be prepared for enterprises which are already established. Business plans have the primary purpose of ascertaining that a vision that is cohesive is fostered. It also offers some relevant guidance for an investor interested in offering funds for the enterprise (McKeever, 2016). The plans foster an understanding of the operations that an enterprise is bound to undertake. The research is an evaluation of business plans relating to different establishments with the aim of determining their strengths and weaknesses while offering some recommendations for improvement.
StructureAll Ltd. was formulated to offer services relating to structural engineering. More specifically, the company deals with the provision of experts with whom industry professionals can consult. The company intends to ascertain that it can develop its Yellowknife home office after its operations commence (Bplans.com, n.d.). The party responsible for the formulation of the enterprise is Phil Nolan, an engineer whose activities have spanned over 18 years. Moreover, his experience is progressive in addition to being responsible.
The services clients can anticipate from the enterprise are quite extensive. Modelling which can be categorised as three dimensional will be availed to company clients upon request. Moreover, clients can access facilities which allow them to visualise the structures that they would like to set up. Analysis by Nolan is anticipated to feature state-of-the-art equipment (Bplans.com, n.d.). This is intended to be integral to the plan formulated for StructureAll Ltd. Focus concerning production work is bound to emanate from programs relating to quality control as well as assurance that will be formulated.
The company’s strength pertains to the facilities that it is able to provide. Its weaknesses emanate from the limitation of the workers who can be called upon to cater for workers. StructureAll Ltd. enjoys the capacity for growth which is among the opportunities it can exploit. The establishment’s threats are in the form of the enterprises that it must compete against.
Initially, the establishment intends to have one employee. The worker is required to perform the roles commonly associated with the general manager. The firm’s daily operations shall be Phil Nolan’s responsibility.
StructureAll Ltd. Intends to focus its endeavours on various groups determined through the segmentation of its respective market. The groups range from firms dealing with legal issues to municipal governments. The company primarily intends to focus on the areas located in the western part of the Arctic. Moreover, the company intends to aggressively market the availability of its services through the utilisation of the internet. Direct emails are also to be send to prospective clients.
Nolan covered the expenses that the enterprise incurred when starting through the investments he made initially. Part of the investments was used to cover the expenses incurred by the startup while the rest is available as the operation’s working capital. The targets developed provide the indication that initial years are set to yield revenues which are at best moderate. However slow the growth might be, it is bound to indicate some stability. After three years, the company projects that its market value will be at 20%.
The company intends to ascertain that clients can make consultations in the areas where they are to perform their respective functions.
The company’s edge with regards to competition relates to its provision of 3 dimension models. Other enterprises which are in operation utilise 2- dimensions which cannot adequately cater to client requirements. The implication of the model relied on by StructureAll is that conflicts evident spatially concerning elements which are architecturally inclined are eradicated (Bplans.com, n.d.).
The company intends to provide construction related services. Clients intending to renovate their buildings can also approach Twin Brothers Construction. The services offered by the company are primarily available in the area where TBC will be able to set up its operations (Bplans.com, n.d.). The strategy synonymous with enterprise activities is tied to processes that facilitate improvements which are continuous. The implication is that objectives can be developed, results measured and feedback availed to ensure that growth, as well as progress, are facilitated.
The services of the company include solutions that facilitate sophisticated bidding and scheduling. Moreover, the materials available at TBC aim at undertaking different projects in construction. This is regardless of the complexities that they feature (Bplans.com, n.d.).
The company anticipates dealing with different competitors for the provision of its services. However, its strategy involves the provision of services which are unique for the enhancement of its edge competition-wise. While competitors might face limitations with regards to the amount they are able to direct to their enterprises, TBC intends to make some investments which are extensive.
TBC’s strength’s include the proprietor’s expertise. Its weaknesses include main limitations. The company’s opportunities relate to its operations in a market which is expansive. Its threats relate to possible competition.
The staff for the establishment includes the brothers. Employees may be sourced for either fulltime commitments or which are part-time. Where the activities involved may relate to construction, some individuals may be contracted.
The company intends to use make use of aspects that relate to relationship selling. Newspapers, as well as magazines, are among the channels that TBC endeavours to utilise as part of its marketing channels. Moreover, clients can also access a website with information relevant to the operation.
The market that TBC endeavours to capitalise on relates to housing provision. The strategy that TBC intends to rely on pertains to establishing some alliance with market leaders while launching the pursuit of available new sales (Sandu et al., 2014). Builders working commercially or on various residential properties are targeted by the initiatives the enterprise is set to undertake. In addition, company efforts are expected to secure contracts offered by the Federal, state as well as county governments.
The company is to assume responsibility for its workers as well as contractors. All actions are to be undertaken in accordance with the program for quality in addition to assurance. Systematic strategies are to be implemented for organisational functions.
Company investment features a sum of $90000 sourced from the brothers. Initially, the enterprise’s cash requirements are valued at $50000. The assets for putting up the venture are set to mandate a sum of $55000 (Bplans.com, n.d.). The projections made for the business indicates that the company’s ability to break-even will be a possibility in the duration marked by more than six months of operation.
First, StructureAll Ltd has developed strategies to ascertain impeccable service provision. This includes a program for controlling quality and offering assurance (Ekanem, 2017).
Secondly, quantitative goals are used to offer guidance about the value that the enterprise can obtain market-wise. The estimate is projected at 20%.
Thirdly, the company relies on techniques that feature great innovation for the satisfaction of its clientele. The implication is that it has an edge that is unique against competitors.
Firstly, the market that TBC intends to operate in offers prospects for the acquisition of an impressive share (Laakkonen, 2017). Moreover, the industry is marked by steady expansion.
Secondly, great products and services are available to respective clients owing to their interaction with the enterprise. In 1997, the industry offered 804000 units for purchase by interested clients. 1998 featured a 10% improvement to 886000 homes.
Thirdly, the goals set by TBC are quantitative. Three projects relating to construction are initially targeted. Moreover, the company targets profits at 7% after its first year.
First, limited personnel indicated by the company’s structure applicable to management. Nolan is mandated to use his expertise to ascertain that organisational clients are catered for.
Secondly, the plan does not offer a thorough evaluation of StructureAll Ltd. competitors. The company primarily focuses on the measures it can take to ensure that its goals are adequately met.
Lastly, the assumptions made by the enterprise in relation to its financial provisions are inadequate (Busenitz, 2014). Financial documents must be prepared such that they can cushion enterprises against downturns which might be economically evident.
Firstly, the company does not offer some indicators on measures which can be used for quality assessment.
Secondly, the analysis conducted by TBC in relation to its market does not feature regulatory trends. The outcome is that the enterprise is rendered incapable of catering to litigation aspects of its operations (McKenzie, 2015).
Thirdly, TBC fails to evaluate its competitors and their implications for the company effectively. The result is that the position they hold in the market under target is not clearly understood.
The company should explain how it endeavours to enhance service provision through collaboration with other industry professionals. The outcome is that regardless of the proprietor’s experience, client value can become more effective owing to the expertise that other industry professionals can avail.
TBC should indicate measures that can be relied on for the quality of the products as well as services offered to clients to be subjected to some evaluation. Engineering is often subjected to numerous regulation requirements (Porter, 2018). Hence, then trends evident must be subjected to in-depth analysis to make certain that the liabilities which might legally arise are understood.
Conclusion
Business plans ensure that the strategy that enterprises are likely to rely on is well indicated. It also facilitates the decisions that must be made by ensuring that they are sound. Financial or even issues pertaining to management can be identified and adequate measures implemented. Where weaknesses which might potentially disrupt a venture are noted, advice can be sought from industry experts.
References
Bplans.com. (n.d.). Commercial Contractor Business Plan Sample – Strategy and Implementation | Bplans. Retrieved from https://www.bplans.com/commercial_contractor_business_plan/strategy_and_implementation_summary_fc.php
Bplans.com. (n.d.). Engineering Consulting Business Plan Sample – Financial Plan | Bplans. Retrieved from https://www.bplans.com/engineering_consulting_business_plan/financial_plan_fc.php
Busenitz, L. W. (2014). Your Business Plan and Presentation: Articulating Your Journey to Commercialization. In Biotechnology Entrepreneurship (pp. 303-312).
Ekanem, I. (2017). Writing a business plan: a practical guide. Routledge.
Laakkonen, H. (2017). Developing a successful business plan: Berry beverage bicycle vending cart.
McKeever, M. (2016). How to write a business plan. Nolo.
McKenzie, D. (2015). Identifying and spurring high-growth entrepreneurship: experimental evidence from a business plan competition. The World Bank.
Porter, L. (2018). Business Plan: The Coffee Project.
Sandu, I. S., Ryzhenkova, N. E., Veselovsky, M. Y., & Solovyov, A. Y. (2014). Economic aspects of innovation-oriented market economy formation. Life Science Journal, 11(12), 242.
Scarborough, N. M. (2016). Essentials of entrepreneurship and small business management. Pearson.
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