15 Reasons Why You Need a Business Plan

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The articles I chose comes from the CAM 07 Professional Websites, Business/ Finance/Management and 15 Reasons You Need a Business Plan by Tim Berry, Contributor Entrepreneur, Business Planner and Angel Investor. The reason chose these articles and this topic is because my field of study is Business Administration and I believe that it will affect my current company plans to grow the business by 200 percent in the next five years. Here are the links to these are articles if you are interested in reading them, http://managements. Org/ and http://www. Trepanned. Com/businessman/index. HTML. According to the SKI Writing material a thesis statement is the “central idea, argument, or focus of your paper”. It should produce a research question and creates an answer same as the thesis statement. I welcome any suggestions, thoughts or idea you all came provide, it will be greatly appreciated. Thesis: Business plans are necessary to develop a business potential and it includes step by step information on how the business will function. L. Why are business plans required? Expresses the purpose of the business. . B.

What will be the cost and what are the funding sources? C. How will the business operate? D. What products and services will the business deliver? L. When should you implement a business plan? A. Before you start a new business or, b. Before expanding an existing business. C. Who’s going to execute the plan? Ill. What are some benefits of a business plan? A. Reduce any risks of failure b. What are the company goals and strategies? IV. Who will manage the business and what skills will they be required to have? A. Who will be on the Executive Team? B. Who will be the Top Level Managers? . Who will be the Middle Level Managers? D. Who will be the Lower Level Managers V. How will you market the business? A. Where will we advertise? B. Who will be our Customers? C. Who will be our Competitors? D. What Product will we offer? E. What Pricing will we offer? VI. Where to establish the business? A. Where will the building be Located? B. Will we Lease or purchase a building? Regards, Nancy Hendricks Unit 5 Discussion Post Unit 5 Learning Journal My topic was about business planning and I learned why it is important to evolve a business plan.

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During my brainstorming to come up with a thesis I was able to come up with some great ideas. When I researched on the topic I realized that a lot of the ideas I can up with on my own where actually in the articles I researched. What feedback did you receive and how can this feedback help you to strengthen your topic and thesis? I had two classmates to suggest I change my outline section Ill in reference to benefits to section II instead. When reviewed the outline it made since to make the changes so that we essay could flow more clearly in logical order.

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15 Reasons Why You Need a Business Plan. (2018, Jul 02). Retrieved from


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