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NDBF – Business Plan (B)

NDBF – Business Plan (B). Lim Sei Kee @ cK. Statement of aims and objectives (where do we want to go?). A statement  of what the business should achieve over a five year period Aims should be expressed in terms of hierarchy of objectives becoming progressively more detailed and specific

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NDBF – Business Plan (B)

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  1. NDBF – Business Plan (B) Lim SeiKee @ cK

  2. Statement of aims and objectives (where do we want to go?) • A statement  of what the business should achieve over a five year period • Aims should be expressed in terms of hierarchy of objectives becoming progressively more detailed and specific • Vision - what the organization will be like in the future • Mission statement - a statement of the overall purpose and aims • Functional objectives - objectives for the functional areas

  3. Strategy and tactics • How are we to get there? • Strategy is the broad approach to the achievement of objectives • Summarizes how to fulfill the objectives • Tactics refer to the details of the strategy e.g. the promotional mix • The detail will be contained in programmes and budgets

  4. Marketing: key questions to be answered • Who are our customers? • Who are our competitors? • What is the size and growth rate of the market? • How is the market segmented? • What is special about our product or service? • What are our competitive advantages? • What is our marketing strategy?

  5. Marketing plan • Market research • Segmentation and targeting • Detailed outline of the product or service • Unique selling points • Chosen pricing strategy • Promotional plans • Distribution strategy (including online) • Customer service strategy

  6. Operations plan • Physical location • The production process • Facilities • Equipment • Scale & location of operations • Capacity - potential and effective • ICT strategy

  7. Operations plan (con’t) • Engineering and design support • Materials required • Inventory levels and stock control plans • Purchasing arrangements • Sources of supply of key resources • Quality control plans • Staffing requirements

  8. Assignment 27th November 2012 – Business Plan presentation (powerpoint format) 4th December 2012 – Submission of Business Plan Report Implementation of Business Plan is advised to start in Mid-January 2013.

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