BUSINESS PLAN JKE ENTREPRENEURSHIP CARNIVAL 2019 Introduction Business

BUSINESS PLAN JKE ENTREPRENEURSHIP CARNIVAL 2019

Introduction § Business planning is one of the management tools to achieve the business objective. § So, the company should prepare a convincing BP to attract investors to invest in the business. § The investors are more prepared to invest in the business if they believe that the business is realistic and profitable based on their forecast of the business.

Who need a BP entrepreneur shareholders banker customers suppliers

Important of BP Creates the opportunity for success Increases the stakeholders’ confidence Determines the right way of managing a business

Format of BP 1. The Cover - This section will state the name and logo of company, address, telephone numbers, e-mail address, name of officer that can be contacted and the date of submission, 2. Executive Summary - ES is the first thing the readers see and read.

Cont’ - According to Vesper (1993), readers will only read about 10% of this part and the rest of the 90% will be neglected. - Needs to highlight important component s such as the product/service being offered, market potential and expected returns.

Cont’ 3. Market Analysis - Will provide general outlook of the industry. - This section should include the industry description, its potential, target market information, market test results and evaluation of competition. 4. Service / Product Line - This section will describe the uniqueness of the company’s service or product, emphasizing the benefits to potential customers.

Cont’ 5. Organization and Management - This section should include the company’s organizational structure, details about the ownership of company, and profile of the entrepreneur - In other words, this section will provide answers as to who is supposed to do, what and how.

Cont’ 6. Marketing Strategies - Marketing is the process of creating and attracting customers to the business. - The entrepreneur should realize that customers are the lifeblood of the business. - Overall, the focus should be made a 4 Ps strategies that is related to product, price, promotion and place.

Cont’ 7. Financial Plan - Should be developed after analyzing the market and setting clear objectives. - The entrepreneur shows clearly the financial situation such as profit and loss forecasts, cash flow forecast and capital expenditure plans.

Cont’ 8. The Appendix - Should include a credit history, pictures of products, details of market studies, licenses, permit, legal documents, halal certificate etc.

Guideline for preparing BP Be focused Avoid the use of jargon Be realistic and objective