Travel Agent Service – Business Plan

business. gov. au Business Plan Guide Prepared: December 2009 Table of Contents Preparing yourself4 Analyse your business idea4 Analyse yourself4 Business planning5 Regular review5 Distributing & protecting your plan5 Advice and support6 Attending business events6 Taking on a mentor or business coach6 Using the Template7 Template overview8 Title page8 Business Plan Summary9 The Business12 The Market21 The Future24 The Finances25 Supporting documentation31 Glossary32 [pic] This Business Plan Guide and the accompanying Business Plan Template have been developed by business. ov. au, the Australian Government's principal business resource, located within the Department of Innovation, Industry, Science and Research. Copies of the latest version of this guide and the template can be downloaded from www. business. gov. au/businessplan. If you need further information, assistance or referral about a small business issue, please contact the Small Business Support Line on 1800 77 7275. Prepari ng yourself Before you start writing your business plan, you should honestly evaluate yourself and decide if your business idea has a good chance of success. Analysis can help you anticipate any challenges you may face and help you overcome them. Analyse your business idea Is your idea feasible? Before you get started, find out if there is a demand for your products or services. It's also useful to find out who your competitors are and whether the market can sustain your business. Researching all aspects of your business idea will involve  gathering, analysing and evaluating information to help you write your business goals. Some questions to consider are: †¢ What product/service will you provide? †¢ Is your idea viable? †¢ How will you protect your ideas? Is there a market for your product/service? †¢ What skills do you need? †¢ Who are your competitors? †¢ What difference will you bring to the market? †¢ Do you have the financial capacity to start a business? Analyse yourself Are you ready to venture into business? Operating a small business is not just about working for yourself, it's also about hav ing the necessary management skills, industry expertise, technical skills, finance and of course a long-term vision to grow and succeed. At the outset it’s important to consider whether you really understand what's involved and whether you're suited to business and self employment. Examine these questions: †¢ Why are you starting a business? †¢ What are your business and personal goals? †¢ What are your skills? †¢ What income do you need to generate? †¢ What are the advantages and disadvantages of starting your own business? Business planning Once you've conducted research into the feasibility of your new business you're ready to write your business plan. A business plan provides direction, keeps you on track and is usually a requirement when you seek finance. Depending on your business type, your plan could include the following sections: Business Summary: A one-page overview written after your business plan is finalised. ? About your business: This is typically called the management plan or operations plan. It covers details about your business including structure, registrations, location and premises, staff, and products/services. ? About your market: This is the marketing plan. It should outline your marketing analysis of the indust ry you are entering, your customers and your competitors. This section should also cover your key marketing targets and your strategies for delivering on these targets. About your future: This section covers your plans for the future and can include a vision statement, business goals and key business milestones. ? About your finances: The financial plan includes how you'll finance your business, costing and financial projections. Regular review Business planning is an ongoing business activity. As your business changes many of the strategies in your plan will need to evolve to ensure you business is still heading in the right direction. Having your plan up to date can keep you focussed on where you are heading and ensure you are ready when you need it again. Distributing & protecting your plan A business plan is a blueprint for how your business will run and reveals what future direction your business will take. Understandably you will want to be careful who you show your plan to and avoid your competition seeing it. Having an understanding with third parties when distributing a plan could be enough protection for some businesses, however others who have innovative business practices or products or services may wish to go further and sign a confidentiality agreement with each person to protect their innovations. It may also be a good idea to include some words in your plan asking the reader not to disclose the details of your plan. What to do†¦ ? Visit our Confidentiality/Trade secrets page, for more information on confidentiality agreements. ? For detailed information on Intellectual property protection, visit the IP Australia[pic] website. ? Contact your nearest  Business Enterprise Centre[pic]  (BEC) for assistance with your business planning process. Advice and support There are a number of government services available to help you plan, start or grow your business. These services can provide general advice, workshops, seminars and networking events, and can even match you with a mentor or business coach. Attending business events Small business workshops and seminars are run regularly in most areas of Australia, and deal with issues such as planning, financial management, innovation, employing staff and exporting. You may also find it useful to attend networking events to help expand your business. By developing networks, you can keep up-to-date on industry and local information, promote your business through new contacts and learn key skills from other businesses. Taking on a mentor or business coach Participating in mentoring or coaching programs can help you develop a greater understanding of business processes and practices, and equip you with the skills you need to grow and improve your business. What to do†¦ ? Contact your nearest  Business Enterprise Centre[pic]  (BEC) for assistance with your business planning process. ? Check if your local BEC or state business agency hosts a business planning workshop near you. ? Contact an Enterprise Connect[pic] centre for help with planning, growing, skills development, competitiveness and productivity. Search for networking, mentoring or training events and seminars on the business. gov. au Events calendar. ? Contact a business adviser, accountant or solicitor for advice. Using the Template Before you complete the business plan template and start using it, consider the following: 1. Do your research. You will need to make quite a few decisions about your business including structure, mark eting strategies and finances before you can complete the template. By having the right information to hand you also can be more accurate in your forecasts and analysis. 2. Determine who the plan is for. Does it have more than one purpose? Will it be used internally or will third parties be involved? Deciding the purpose of the plan can help you target your answers. If third parties are involved, what are they interested in? Although don’t assume they are just interested in the finance part of your business. They will be looking for the whole package. 3. Do not attempt to fill in the template from start to finish. First decide which sections are relevant for your business and set aside the sections that don’t apply. You can always go back to the other sections later. . Use the [italicised text]. The italicised text is there to help guide you by providing some more detailed questions you may like to answer when preparing your response. Please note: If a question does not apply to your circumstances it can be ignored. 5. Get some help. If you aren’t confident in completing the plan yourself, you can enlist the help of a professional (i. e. Enterprise Connect Centre , Business Enterprise Centre, business adviser, or accountant) to look through your plan and provide you with advice. 6. Actual vs. expected figures. Existing businesses can include actual figures in the plan, but if your business is just starting out and you are using expected figures for turnover and finances you will need to clearly show that these are expected figures or estimates. 7. Write your summary last. Use as few words as possible. You want to get to the point but not overlook important facts. This is also your opportunity to sell yourself. But don’t overdo it. You want prospective banks, investors, partners or wholesalers to be able to quickly read your plan, find it realistic and be motivated by what they read. 8. Review. Review. Review. Your business plan is there to make a good impression. Errors will only detract from your professional image. So ask a number of impartial people to proofread your final plan. Template overview Title page |Question |Explanation |More information | |Insert your business logo |Adding a logo helps give your business a more professional image. If you are just starting out and do not have a | | | |logo, you can remove this section. | |Your name |Enter the business owner's name. Enter multiple names if there are multiple owners. | | |Your title |The titles of the business owner(s) listed above. E. g. Owner/Manager | | |Business name |Enter your business name as registered in your state/territory. If you have not registered your business name, add |Visit our Register your business name page. | | |your proposed business name | | |Main business address |Enter your main business address. This can be your home address if you are a home-based business or your head | | | |office if you have more than one location. | |ABN |Enter your Australian Business Number. If you are a business and have registered for an ABN enter it here. |Visit our Register for an Australian Business Number | | | |(ABN) page. | |ACN |Enter your Australian Company Number. Only fill this in if you are a company. |Visit our Register your company page. | |Prepared |The date you finished preparing your business plan. | |Table of Contents |If you have changed this template in any way, please remember to update the table of contents to reflect the | | | |changes.. | | Business Plan Summary Your business summary should be no longer than a page and should focus on why your business is going to be successful. Your answers should briefly summarise your more detailed answers provided throughout the body of your plan. |Question |Explanation |More information | |The Business | |Business name |Enter your business name as registered in your state/territory. If you have not registered your business name, add |Visit our Register your business name page. | | |your proposed business name. | |Business structure |Is your business a sole trader, partnership, trust or company? |Visit our Which business structure should I choose? | | | |page. | |ABN |Enter your Australian Business Number (ABN). If you are a business and have registered for an ABN enter it here. Visit our Register for an Australian Business Number | | | |(ABN) page. | |ACN |Enter your Australian Company Number (ACN). Only fill this in if you are a company. |Visit our Register your company page. | |Business location |Enter your main business location. Briefly describe the location and space occupied/required. | | |Date established |The date you started trading. Whether it was the date you opened your doors or the date your purchased business | | | |opened its doors. | | |Business owner(s) |List the names of all business owners. | | |Relevant owner experience |Briefly outline your experience and/or years in the industry and any major achievements/awards. |Visit our Am I ready? age. | | |Keep this brief and try to include only your relevant experience and main achievements. You will have an | | | |opportunity to go into more detail under the Management & ownership section. | | |Products/services |What products/services are you selling? What is the anticipated demand for your products/services? These answers | | | |should briefly summarise your answers under the main products/services section. | | |The Market | |Target market |Who are you selling to? Why would they buy your products/services over others? Visit our Researching your market page. | | |This answer should briefly summarise your answers under the main Market section. | | |Marketing strategy |How do you plan to enter the market? How do you intend to attract customers? How and why will this work? |Visit our How do I promote my business? page. | | |This answer should briefly summarise your answers under the main Market section. | |The Future | |Vision statement |The vision statement briefly outlines your future plan for the business. It should state clearly what your overall | | | |goals for the business are. | | |Goals/objectives |What are your short & long term goals? What activities will you undertake to meet them? | | |The Finances | |The finances |Briefly outline how much profit you intend on making in a particular timeframe. How much money will you need |Visit our How do I manage my finances? page. | | |up-front? Where will you obtain these funds? What portion will you be seeking from other sources? How much of your | | | |own money are you contributing towards the business? | | | |Your answers can be quite brief in the summary. They should give the reader a quick idea of your current financial | | | |position. Where you are heading financially and how much you need to get there. You can provide more detail in the | | | |main Finances section. | | The Business |Question |Explanation |More information | |Business details | |Business purpose |What is the main business purpose? What does it sell? | |Business size |Number of employees? Estimated/actual annual turnover? | | |Operating history |What is the business background? How long has the business been operating? What is your progress to date? | | |Registration details | |Business name |Enter your business name as registered in your state/territory. If you have not registered your business name, add |Visit our Register your business name page. | | |your proposed business name | | |Trading name(s) |Enter your registered trading name or names. Your trading name is the name you will use to trade under. It is the |Visit our How do I choose a business name? age. | | |name that appears on your marketing and advertising material. If you have multiple trading names, list them and | | | |explain the purpose of each name. | | |Date registered |The date that appears on your business name registration. | |Location(s) registered |Enter the state(s) you have registered your business name. If your business is located in more than one state, you |Visit our Register your business name page. | | |will need to register your business name in each state. | | |Business structure |Is your business a sole trader, partnership, trust or company? |Visit our Which business structure should I choose? | | |page. | |ABN |If you have registered an Australi an Business Number (ABN), then enter it here. |Visit our Register for an Australian Business Number | | | |(ABN) page. | |ACN |Enter your Australian Company Number (ACN). Fill this in if you are a registered company. |Visit our Register your company page. |GST |If you are registered for Goods and Services Tax (GST), then enter the date you registered with the Tax office. |Visit our Register for Goods & Services Tax (GST) | | | |page. | |Domain names |If you are planning on setting up a website for your business, you may also like to register a domain name to match|Visit our Register your domain name page. | |your registered business name. List any domain names you have registered and plan to use in the business. | | |Licences & permits |List all the licences or permits you have registered. These will vary depending on your type of business and |Visit our Licences & permits page. | | |location. Some examples include a tradesperson certificate, travel agents licence, or kerbside caf e permit. | |Business premises | |Business location |Enter your main business location. Describe the location and space occupied/required. What is the size of the space| | | |you occupy/require? Which city or town? Where in relation to landmarks/main areas? If you have a retail business, | | | |where are you located in relation to other shops? What is the retail traffic like? | | |Buy/lease |If you have purchased a business premises or are currently leasing, briefly outline the arrangements. These can |Visit our Buy or lease a business premises page. | | |include purchase price, length of the lease agreement, rental cost or lease terms. | | |If you are still looking for a lease or property, outline your commercial lease or purchase requirements and any | | | |utilities/facilities required. | | |Organisation chart | |Figure 1: Organisation chart |The organisation chart is a quick way of representing your business structure. If you are still recruiting staff, | | | |you may wish to include a proposed structure and label it appropriately. I. e. you could add ‘Vacant' to the | | | |positions that are currently vacant or you could label the whole chart as a ‘Proposed Organisation Chart'. | |Management & ownership | |Names of owners |List the names of all business owners. | | |Details of management & ownership |As the owner(s), will you be running the business or will a Chief Executive Officer (CEO) be running the business | | | |on your behalf? What will be your involvement? If it is a partnership, briefly outline for each partner their | | | |percentage share, role in the business, the strengths of each partner and whether you have a partnership | | | |agreement/contract in place? | |Experience |What experience do the business owner(s) have? Why should people invest in you? How many years have you owned or | | | |run a business? List any previous businesses owned/managed. List any major achievements/awards. What other relevant| | | |experience do you have? Don’t forget to attach your resume(s) to the back of your plan. | | |Key personnel | |Current staff table |List your current staff in the table provided. Outline each job title, name of the employee in the position, the |Visit our Employing people topic. | |expected staff turnover for the position and each employee's relevant skills or strengths. You may also like to | | | |attach a copy of their resume to the back of your plan. | | |Required staff table |List your required staff in the table provided. These are current vacant positions. Outline each job title, |Visit our Recruitment page. | | |quantity of each type of position, the expected staff turnover for the position, the required skills or strengths | | | |needed and the date you require this position to be filled. | | |Recruitment options |How do you intend on obtaining your required staff? Advertising in the local paper, online advertising, and/or |Visit our Recruitment page. | | |training current staff members? | | |Training programs |Are there any training programs you will be organising in the event you cannot find the required skills? Are these |Visit our Skills development & training page. | | |in-house or external providers? What training will you as the business owner/manager undertake to keep your skills | | | |current? | | |Skill retention strategies |What procedural documentation will you provide to ensure the skills of staff are maintained? Do you have an |Visit our Skills development & training page. | |appropriate allocation of responsibilities? How are responsibilities documented and communicated to staff? What | | | |internal processes will you implement to regularly check that the current skills of staff members are still | | | |appropriate for the business? | |Product/services | |Product/services table |List each product/service your business currently offers. Provide a description and unit price (including GST) | | | |amount for each. | | |Market position |Where do your products/services fit in the market? Are they high-end, competitive or a low cost alternative to the | | | |products/services offered by your competitors? How does this compare to your competitors? | | |Unique selling position |How will your products/services succeed in the market where others may have failed? What gives your | | | |products/services the edge? | |Anticipated demand |What is the anticipated quantity of products/services your customers are likely to purchase? For example, how much | | | |will an individual customer buy in 6 months or 12 months? | | |Pricing strategy |Do you have a particular pricing strategy? Why have you chosen this strategy? Visit our Fair trading laws page for your state fair | | |To help you develop your pricing strategy, you could refer to your customer research, market position, anticipated |trading office contact details. | | |demand and costs/expenses to get an idea. | | | |Whatever strategy you use when setting your price, you will also need to adhere to any relevant fair t rading | | |legislation or codes of conduct. | | |Value to customer |How do your customers value your products/services? Are they a necessity, luxury or something in between? | | |Growth potential |What is the anticipated percentage growth of the product in the future? What will drive this growth? | | |To help you determine this growth potential, you could refer to your region/industry research to get an idea of any| | | |industry/regional growth that could affect your business in a positive way. | | |Innovation | |Research & development (R&D)/ innovation |What R&D activities will you implement to encourage innovation in your business? What financial and/or staff |Visit our How do I make my business more innovative? | |activities |resources will you allocate? |page. | |Intellectual property strategy |How do you plan to protect your innovations? List any current trade marks, patents, designs you have registered. Do|See the IP Australia website[pic] for information on | | |you have confidentiality agreements in place? |protecting your innovations. | |Protecting your innovations can include registering for intellectual property protection, ensuring your staff sign | | | |a confidentiality agreement, and generally ensuring your competition does not find out what you are developing. | | |Insurance | |Workers compensation |Provide details if you have workers compensation insurance? This is mandatory if you have employees. |Visit our People insurance page. | |Public liability insurance |Provide details if you have public liability insurance? This covers any third party death or injury. |Visit our Liability insurance page. | |Professional indemnity |Provide details if you have professional indemnity insurance? This covers any legal action taken out as a result of|Visit our Liability insurance page. | | |your professional advice. | |Product liability |Provide details if you have product liability insurance? This covers any legal action taken out as a result of |Visit our Liability insurance page. | | |injury, damage or death from your product. | | |Business assets |Provide details if you have insured your business assets in the event of a fire, burglary, or damage? This |Visit our Assets & revenue insurance page. | | |insurance covers things like buildings, contents and motor vehicles. | | |Business revenue |Provide details if you have insured your business in the event of business interruption where you cannot trade |Visit our Assets & revenue insurance page. | | |because of a particular event and are unable to make money? | |Risk management | |Risk management table |List the potential risks (in order of likelihood) that could impact your business. |Visit our Risk management page. | | |For each risk, detail the following in the table provided: | | | |A escription of the risk and the potential impact to your business. | | | |The likelihood of this risk happening – either highly unlikely, unlikely, likely, or highly likely. | | | |The level of impact it may have on your business – high, medium or low. | | |Your strategies for minimising/mitigating each potential risk. | | |Legal considerations | |Legal considerations |List t he legislation which will have some impact on the running of your business. For example: consumer law, |Visit our What are the legal requirements? Page. | | |business law, or specific legislation to your industry. | | | |List the legislation in order of the most impact on your business. You should also detail what you will do or have |Visit the Australian Securities & Investments | | |already done to ensure you comply. |Commission Financial services[pic] page. | |For example if you are in the financial services industry and you provide financial advice to your customers, you | | | |should include the Corporations Act 2001 and your AFS licence details (if registered already). You may also like to| | | |include details about your disclosure and general obligations. | |Operations | |Production process |What is the process involved in producing your products/services. This process will vary depending on your | | | |product/service. Here are some examples of questions you may consider. Is there a manufacturing process? Who is | | | |involved in the process? Are there any third parties involved? What is involved in delivering the service to your | | | |customers? | | |Suppliers |Who are your main suppliers? What do they supply to your business? How will you maintain a good relationship with | | | |them? | | |Plant and equipment table |List your current plant and equipment purchases. These can include vehicles, computer equipment, phones and fax | | | |machines. For each item include the equipment name, purchase date, purchase price and running cost. | | | |If you have not purchased all of your equipment yet, you can include a separate table and include an expected | | | |purchase date. | | |Inventory table |List your current inventory items in the table supplied. You can include inventory item name, unit price, quantity | | | |in stock and the total cost (i. e. unit price multiplied by quantity in stock). | | | |If you have a substantial inventory, you may prefer to attach a full inventory list to the back of your business | | | |plan. | |Technology (software) |What technology do you require? For example: website, point of sale software or accounting package? What will be | | | |the main purpose for each? Will they be off-the-shelf or purpose built? What is the estimated cost of each | | | |technology solution? | | |Even though this section focuses on software (as your hardware will be listed above in your plant and equipment | | | |table), for more clarity you may also wish to give a brief description of hardware including servers, specialised | | | |technology and computer equipment required. | |Trading hours |What are your trading hours? What are your expected peak trading times? Which times do you expect to be more | | | |profitab le? How will this change over different seasons? How do your trading hours accommodate these changes? | | |Communication channels |How can your customers get in contact with you? These channels can include: telephone (landline/mobile), post box, | | | |shopfront, email, fax and/or internet blog or social networking website. If you have chosen only a few channels you| | | |may wish to include your strategy behind this. | | |Payment types accepted |What payment types will you accept? Cash, credit, cheque, gift cards, Paypal etc | | |Credit policy |What is your credit policy for customers/suppliers? How long is the credit period? What are your collection | | | |strategies/procedures? What credit does your business receive? What are the terms? | | |Warranties & refunds |If you manufacture certain goods, what are the warranty terms? What is your business refund/exchange policy? |Visit our Warranties & refunds page. | |Quality control |Describe your quality control process. What checks or balances do you have in place to ensure the product or |Visit our Product safety & standards page. | | |service you offer is produced to the same standard of quality? What steps do you take to meet product safety | | | |standards? | |Memberships and affiliations |Is your business a member of any particular industry association or club? Do you have any affiliations with any | | | |other organisation? | | |Sustainability plan | |Environmental/ resource impacts |Describe the impact your business could potentially have on the environment. E. g. particular manufacturing |Visit our Environmental auditing page. | | |process produces carbon emissions. | | | |To help you answer this question, you could consider conducting an environmental audit. | | |Community impact and engagement |How does your environmental impact affect the loca l community? How can you engage the community in minimising your |Visit our Minimising your impact page. | |impact? | | |Risks/constraints |List any risks/constraints to your business resulting from this environmental impact? |Visit our Risk management page. | |Strategies |What strategies will you implement to minimise/mitigate your environmental impact and any risks to your business? |Visit our Environmental auditing page. | | |Will you conduct an environmental audit? Have you introduced an Environmental management system? |Visit our Environmental management systems page. | |Action plan table |List your key sustainability/environmental milestones in the table provided? Detail each sustainability milestone, | | | |the target you are trying to achieve and when you expect to reach each target. For example: Reducing water | | | |consumption by 60% before 2016. | The Market |Question |Explanation |More information | |Market research |What statistical research have you completed to help you analyse your market? Did you use a survey/questionnaire? |Visit our Researching your market page. | | |If so, you may like to attach a copy of your survey/questionnaire to the back of this plan. | |Market targets |Outline your planned sales targets. What quantity of your products/services do you plan to sell in a planned | | | |timeframe? Are they monthly or yearly targets? For example, you may set yourself a goal of selling 1 000 products | | | |in 12 months. | |Environmental/industry analysis |Detail the results of the market research you have performed. Is the area experiencing population growth? Are there|Visit our Market research & statistics topic. | | |long-term employers in the area? Is the region's economy stable? Are there seasonal variations? | | | |What is the size of the market? What recent trends have emerged in the market? What growth potential is available |Visit the Australian Bureau of Statistics National | | |and where do you fit in? How will the market/customers change when you enter the market? |Regional Profile[pic] page. | | |A good place to start when researching your regional profile is the Australian Bureau of Statistics website. The | | | |regional profile information includes economy, population/people, industry and environment/energy statistics. | |Your customers | |Customer demographics |Define who your target customers are and how they behave. You can include age, gender, social status, education and|Download the Social Atlas[pic] and the Social | | |attitudes. |Trends[pic] series from the Australian Bureau of | | | |Statistics website. |Key customers |Identify your key customers. (These can be large consumers of your products or individuals whose satisfaction is | | | |key to the success of your business. ) How will you target your products/service to them? | | |Customer management |How will you maintain a good relationship with your customers? What techniques will you use? How will you keep your|Visit our Customer service page. Visit our Codes of | | |customers coming back? Have you introduced customer service standards? Do you follow any particular code of |Practice page. | | |practice? | | |S. W. O. T. analysis | |S. W. O. T. nalysis table |List each of your businesses strengths, weaknesses, opportunities or threats in the table supplied and then outline| | | |what you will do about each of the weaknesses/threats. | | |Your competitors | |Your competitors |How do you rate against your competitors? How can your business improve on what they offer? | |Competitor details table |List at least 5 competitors in the table. For each competitor enter: | | | |Competitor: Competitor name | | | |Established date: When were they established? | | |Size: Number of staff and/or turnover | | | |Market share (%): Estimated percentage of market share | | | |Value to customers: Unique value to customers. Why they would do business with your competitor? For example: | | | |convenience, quality, price or service? | | | |Strengths: What are your competitor's main strengths? | | | |Weaknesses: What are your competitor's main weaknesses? | |Advertising & sales | |Advertising and promotional strategy table |What strategies do you have for promoting and advertising your products/services in the next 12 months? |Visit our Marketing & advertising page. | | |For each promotion/advertising: What is the promotion/advertising type (e. g. Print media advertising, online | | | |advertising, mail-out, giveaway, media release or event) How do you expect it will improve your business success? | | | |What is the cost of each planned activity? When do you expect to complete each activity? | |Sales and marketing objectives |Who makes up your sales team? What sales techniques will they use? What tools/material will they use to help sell |Visit our Marketing & advertising page. | | |your products/services? What sales goals/targets will they meet? | | |Unique selling position |Why do you have an advantage over your competitors? How will your products/services succeed in the market where | | | |others may have failed? | | |Sales and distribution channels table |For each channel enter: | | | |Channel type: e. . Shopfront, internet, direct mail, export or wholesale | | | |Products/services: List all the products/services sold via this channel | | | |Percentage of sales: What percentage of overall sales do you expect to sell via this channel? | | |Advantages: What advantages are there of using this channel for these products? | | | |Challenges: What challenges do you expect to face using this channel? How will you overcome them? | | The Future |Question |Explanation |More information | |Vision statement |What is your business' vision statement? It should briefly outline your future plan for the business and include | | | |your overall goals. | |Mission statement |What is your business' mission statement I. e. how will you achieve your vision? | | |Goals/objectives |What are your short & long term goals? What activities will you undertake to meet them? | | |Action plan table |What are the business milestones that you need to complete starting from today? When do you expect to complete | | | |them? Who is responsible for delivering this milestone? | | | |Please note: This table does not include sustainability milestones as they are listed in the sustainability section| | | |above. | The Finances |Question |Explanation |More information | |Key objectives and financial review | |Financial objectives |List your key financial objectives. These can be in the form of sales targets or profit targets. You could also | | | |list your main financial management goals such as cost reduction targets. | | |Finance required |How much money up-front do you need? Where will you obtain the funds? What portion will you be seeking from loans, | | | |investors, business partners, friends or relatives, venture capital or government funding? How much of your own | | | |money are you contributing towards the business? | | |Assumptions | |Assumptions |List your financial assumptions. These can include seasonal adjustments, drought, economy or interest rates etc. | |Start-up costs for [YEAR] table |Using the table | | | |The start-up costs table contains a list of suggested costs a typical business may incur in its first year of | | | |operation. When you double click on the table you can edit these items by removing or adding rows and typing in | | | |your own items. Don’t forget to clearly display your start-up year in the heading. Please note: The table assumes | | | |all figures are GST inclusive. | | |Total formulas | | | |When you add your costs, the table will automatically total your items at the bottom of the sheet. If you are | | | |adding or removing rows please double-check your figures to ensure the total formulas have been preserved. | | |Estimating costs | | | |Whether you have already started or intending to start you will need to fill in Actual or Estimated figures against| | | |the items in the table. If using estimated costs, please label them clearly. | | |Attach your own | | | |If you have your own start-up cost sheet or your accountant has already prepared one, please feel free to remove | | | |the table supplied and attach your own. If it is a large sheet, you can always attach it to the back of the plan | | | |and reference it from this section. | | |Balance sheet forecast table |Using this table | | | |The balance sheet forecast table contains a list of suggested assets and liabilities a typical business may have. | | |When you double click on the table you can edit these items by removing or adding rows and typing in your own | | | |items. Don’t forget to edit the financial years if required. Please note: The table assumes all figures are GST | | | |inclusive. | | |Total formulas | | | |When you add your figures, the table will automatically calculate your totals and net assets at the bottom of the | | | |sheet. If you are adding or removing rows please double-check your figures to ensure the calculations have been | | | |preserved. | | | Calculations | | | |Net assets equals | | | | | | | |Total assets minus Total liabilities. | | |Attach your own | | | |If you have your own balance sheet forecast or your accountant has already prepared one, please feel free to remove| | | |the table supplied and attach your own. If it is a large sheet, you can always attach it to the back of the plan | | | |and reference it from this section. | |Profit and loss forecast table |Using this table | | | |The profit and loss forecast table contains a list of suggested profit items and expenses a typical business may | | | |have. When you double click on the table you can edit these items by removing or adding rows and typing in your own| | | |items. Don’t forget to edit the financial years if required. Please note: The table assumes all figure

Cultural Approach Towards Brandsing by Starbucks

Study of cultural approach taken by Starbucks to branding in global marketplace ABSTRACT: _The international marketing promises to solve managerial problems using technical and universalizing approach. Ethnocentric approach to branding is been adopted by the researchers. As the global market develops this seems to be problematic. Thus it is important that some key premises and foundation needs to be revised. The branding research needs to be historically and contextually grounded, polycentric in orientation, and acutely attuned to the symbolic significance of brands of all types. INTRODUCTION: Brands are going everywhere in the global popular market. The Nike tick mark, the Coco-Cola symbol or McDonald’s M triggers tens and hundreds of responses. Brands are becoming integral part of our culture thus there is a great need for international marketing scholars to change with the changing global market condition and also contribute to the public dissonance of branding practices. T he theory and tools available are not sufficient to analyze the complexity of globalization and the brands role in it. The international marketing still does not suggest the appropriate theoretical and methodological challenges brought by globalization, and also in branding. AIM: Study of cultural approach taken by Starbucks to branding in global marketplace. OBJECTIVE: Theoretical and methodological blueprint for studying the cultural role of Starbucks in global market. LITERATURE REVIEW: 1. A* Cultural Approach to Branding in the Global Marketplace*. Review: Related Questions: Premises: What cultural differences (national, regional) do branding strategies embed? How have different branding concepts and theories emerged and for what purposes? Analytical approach: How do traditional brand landscapes affect globalized brands? How do brands at different geographical scales interact in market space? What kinds of mythic elements make for good brand stories? Can we predict the emergence of â€Å"antibrands† (e. g. , Mecca Cola, fair trade)? Units of analysis: How do brands globalize? To what degree do various brand architectures translate across cultures? Is it possible to develop an archive of commercially compelling narrative elements? Review: The Starbucks Brandscape and Consumers’ (Anti-corporate) Experiences of Globalization Review: Significance of Research: Help Starbucks understand the cultural effect on globalization. Help Starbucks to adopt appropriate strategy depending on the cultural aspects and consumer behavior geographically. Data collection: Journals from Internet. Personal visit to Starbucks. Interview with the staff and manager of Starbucks. BIBLOGRAPHY: Burgess, Steven M. and Jan-Benedict E. M. Steenkamp (2006), â€Å"Marketing Renaissance: How Research in Emerging Consumer Markets Advances Marketing, 23 (4), 337–56. Aaker, Jennifer and Patti Williams (1998), â€Å"Empathy Versus Pride: The Research, 25 (December), 241–61.

Domestic Violence Essay Example | Topics and Well Written Essays - 500 words

Domestic Violence - Essay Example de in changing laws and creating laws to eradicate domestic violence with penalties that include financial fines and jail sentences; domestic violence continues to be a problem in America (Bullock, 2007). For a long time in America, domestic violence was considered a matter between the husband and wife, mother and father, or romantic couple. That has changed, and with this change the courts are looking at ways to apply sentencing guidelines that serves the people involved and the public at large in the best and safest ways. One of the aspects of sentencing is whether or not a man (or woman) should be sentenced to time in jail. That is a disruption of the family life, including employment, and putting the man away from the family, when in fact keeping the family in tact and rehabilitating the offender with therapy and education might be a better solution. The ways in which violators in domestic violence cases were categorized and were perceived long determined how they were treated. The treatment, in most cases, and prior to recent laws that force the justice system to deal with perpetrators legally; was to make excuses for the perpetrator, to blame it on finances, or some other personal emotional response to an outside precipitator ( Bullock, 2007, p. 34). While some called this making excuses and placing blame, there is perhaps some degree of usefulness to these â€Å"excuses.† That is that it may be more useful to rehabilitate the perpetrator, than to incarcerate the perpetrator. If these outside issues, precipitating factors, or even if the source of the perpetrator’s dysfunction and abuse is one of learned behavior from his or hr own family upbringing; then it makes sense that rehabilitation and therapeutic services would be an even greater deterrent to domestic violence than would be incarceration. To get the courts to support rehabilitation over incarceration, the question as to whether or not the domestic abuser can be rehabilitated must be

Business-Level and Corporate-Level Strategies Essay - 9

Business-Level and Corporate-Level Strategies - Essay Example ith products such as beverages and food and later the company diversified into various sector of electronics, clothing, financial services, retailing, etc. The company performs all its operations on the basis of one specific value that is to deliver its customers with good, better and best products. The success of the company is only because of its business and corporate level strategies. Tesco’s main business comes from its retailing segment that accounts for approximately 60% of the total profit that is generated by the business. The business level strategy is a plan that is adopted by a company so as to utilize its resources in order to achieve its business goals. The company has even invested  £1 billion so that it could provide a very pleasant shopping experience to all its customers who visit Tesco stores. The company has even subdivided its business level strategy into seven parts so that it can achieve its business goals and even provide their customers with high valued service. This business level strategy that was formulated was mainly to ensure that the company sets plans for its long term growth and profitability. The first part of the strategy is to grow in the UK market (Desjardins, 2005). The company wants to grow the core market of UK. The business tactics that were designed to support this strategy was to expand the staff base by 20,000 in t he next two years, implement new promotions for its products and services, and even to restructure all its store designs. This strategy was mainly adopted to give customers more importance and wanted. The second part of the strategy to be the creator of all famous and high value brands in the market. This strategy involved creation of its own label such as Tesco Finest and F&F clothing. This indicated delivery products that were of high quality and that also at the most reasonable price. The third part of the strategy is to develop itself as an outstanding retailer both in stores as well as in online. The

Philosophical Theories Essay Example | Topics and Well Written Essays - 3500 words

Philosophical Theories - Essay Example Specifically, it has been argued that Machiavelli's positions have contrasted greatly with the views of Aristotle and Plato, particularly their views on the government and the State. However, this paper would like to forward the central thesis that if one analyzes carefully their works, it would prove that the theories of Machiavelli have actually benefited much from the theories of Aristotle and Plato and one can see some areas of intersection. We study the ancient theories, then, but with some doubt as to what they are theories of. We tend in fact to talk of ancient ethics, not ancient morality, and we do the same for modern theories containing elements that are prominent in the ancient ones: thus, we talk of virtue ethics, not virtue morality. There is a fairly widespread attitude that ancient theories of virtue and the good life are concerned not with what we take to be morality, but with something different, an alternative which can be labeled ethics. Platonic philosophy is hinged on moral virtue as practiced by just rulers. According to him, man served the State and hence, ethics and politics were the same. This is to be contradistinguished with Machiavellian principles, which states that the State should serve the people. That is its whole reason for being. Under Machiavelli's consent, a ruler is justified in doing whatever needs to be done to maintain the country, even if his actions may be deemed unjust. This is the source of the famous quote: "The end justifies the means." This is a complete opposite of the Platonic model which argues that a ruler may never be unjust. It is immoral and unethical, maintains Plato, for a ruler to rule solely by might. A background on Plato's methodology and work is provided by Bruell (1994): Plato's political philosophy is accessible to us primarily through the three great works whose very titles point to their political themes: the Republic, the Laws, the Statesman. The Republic and the Laws, which happen to be his longest works by far, are devoted chiefly to developing very thoroughgoing themes of political reform; the Statesman is devoted to the search for rare qualities or qualifications that would make a man worthy of that name. Plato's political philosophy first come to sight both as critical and reformist: it establishes immediately its distance from actual politics and looks to the true politics, which Plato's own educational efforts are presumably intended to help bring about. It can thus have an apparently contrary effect, however. Even as it raises readers' political hopes, it may lower their willingness to participate in the only politics available to them, for the small good that might be done there seems smaller still when it is compared with the good they have been led to expect from the schemes of radical reform that they have become acquainted with in Plato. Plato's theories have found traces in the writings of the more modern

Is the Shale Revolution just hype Discuss with reference to two Essay

Is the Shale Revolution just hype Discuss with reference to two examples - Essay Example However, the migration is sometimes blocked by rock barriers and the hydrocarbons accumulate underneath such cap, eventually turning into a conventional gas reservoir (Curtis, 2002). Such hydrocarbons which stay in the source rock make up shale gas or shale oil. Such gas is usually trapped underneath the surface, close to 1500 to 3000 metres in the source rock where the hydrocarbons have originally formed (Curtis, 2002). This makes shale gas or shale oil very much difficult to extract. Shale gas is considered unconventional gas because it is said to come from accumulation with significant spatial aspects and vaguely indicated boundaries independent of the water column (Stevens, 2012). Conventional gas is usually drilled with the gas flowing at voluminous rates. For the unconventional gas, drilling is not sufficient to support commercial distribution. Other processes are needed in order to support commercial flow. Primary technologies needed for shale gas include horizontal drilling and hydraulic fracturing with the water, sand, as well as chemicals incorporated into the horizontal borehole at high pressure to break the shale rocks and then discharge the gas (Stevens, 2012). Both technologies are not new technologies, as horizontal drilling has been applied in the 1930s and fracking has first been seen in the US in 1947. The popular use of shale gas is said to have created a revolution as shifts in shale gas use, especially in the US has been seen. However, other scholars and observers are doubtful of the existence and persistence of such a phenomenon or a revolution. This paper shall discuss whether or not the shale gas revolution is just hype or whether it is reality. Various examples shall be used in order to support specific arguments for this paper. Shale gas increased to about 20%, from 1% in 2000 of the domestic gas production in the US by 2010 (Stevens, 2010). The Energy Information

Capitalism Structure Essay Example | Topics and Well Written Essays - 2000 words

Capitalism Structure - Essay Example When a company is going to liquidation due to bankruptcy, it has to repay the debt capital first. The equity shareholders will be paid back their investment only after setting off the secured creditors, debenture holders, preference shareholdersetc. So the companies should deeply analyze financial implications before taking capital structure decisions. In United Kingdom, a secured creditor can even proceed with liquidating the company and claim the amount due to him by the company. Even though the cost of capital plays an important role while taking decision regarding the capital structure, the bankruptcy code also plays a prominent role in the decisions. Therefore, care must be taken while deciding capital structure. The companies cannot make changes in the bankruptcy code, but they can make adjustments in the debt-equity combination (capital structure) of their financial structures in order to accommodate bankruptcy code considerations. This assumes importance since the interests o f equity holders would be compromised or endangered if debt capital is allowed to mount beyond reasonable proportions or as needed by the organisation. Increase in equity capital does not endanger the company's existence or survival, however creditors and loan syndicates could call back their loans, or bring action for claim settlements, thus, putting the company at the doorsteps of bankruptcy. The UK bankruptcy code is a creditor-supportive and a debt-friendly code. That means the debt holders will be having right in deciding the liquidation of the companies. "If the cash flows generated by the project are insufficient to meet debt payments, the firm is in default. Continuation decisions in default are regulated by the bankruptcy code in place." (Acharya, Sundaram and John, p.2). If a company is taking effective and efficient decision regarding the capital structure, it can easily overcome the problems which may arise due to unfavourable bankruptcy code. So while deciding on the ca pital structure, an optimum combination should be selected. While discussing the effect of bankruptcy code in the capital structure decision, the asset-specificity should also be considered. Asset-specificity can be defined as "aspect or feature of an asset (such as a specialized machine) that makes it useful for one or few specific purposes and which, therefore, cannot easily be sold off quickly in a fire-sale." (Asset Specificity: Definition. 2009). If a company has low asset-specificity, it can use more debt capital in the capital structure. If the company is in a situation of liquidation or bankruptcy, it can easily sell off its assets and meet the debts like repayment of creditors, preference shareholdersetc. In other words, if the companies whose assets are fit for providing as security for funds borrowed, can use more debt capital in the capital structure. Because at the time of bankruptcy it will not face any difficulty in repaying the loan or borrowed money as it can sell o ff such assets. Whatever combination is used in the capital structure, the objective of the company should be to increase the wealth of the equity shareholders. If the bankruptcy code of a country is debt capital friendly, it is not better for the companies to follow 'trading on equity' (trading on equity refers to using more debt capital

Alternative Fuels - Why we need to invest now to avoid permanent Essay

Alternative Fuels - Why we need to invest now to avoid permanent Global Warming - Essay Example It will then discuss the feasibility of various alternative fuels which if implemented on a wide scale would greatly reduce air pollution and possibly avoid the predicted outcome, alternative energy from bio-fuels, hydrogen, geothermal, solar and nuclear sources. Essentially, the greenhouse effect functions in the following manner. When sunlight pierces the atmosphere and hits the earth’s surface, not all of the sun’s solar energy is absorbed. Approximately a third of it is reflected back into space. Specific atmospheric gases serve in much the same way as does the glass of a greenhouse, thus the terminology. These gases allow sunlight to penetrate then trap some of the solar energy which heats the earth (Breuer, 1980). It is a delicate balance and because these greenhouse gases have been artificially augmented by man-made sources, more build up in the atmosphere has occurred thus trapping more of the sun’s energy and reflecting less back in to space. This occurrence is causing the earth to warm. Carbon Dioxide (CO2) is the most prevalent of the greenhouse gases. Trees absorb CO2 and when they die, CO2 is restored to the atmosphere. The clearing of forests by mass burning, which is happening at a phenomenal rate in the tropical rain forests, is decreasing the amount of CO2 that is absorbed and increasing the amount that is added to the atmosphere. CO2 supplies about half of the total gases that create the greenhouse effect (Breuer, 1980). Although deforestation is contributing heavily to the excess of CO2 in the atmosphere, a larger portion is caused by the burning of fossil fuels such as oil and coal. Fossil fuels are burned by factories, vehicles and electricity-producing power plants to name a few sources. Other greenhouse gases include methane, which is released when vegetation is burned during land

Wars Essay Example | Topics and Well Written Essays - 1000 words

Wars - Essay Example tion of the US to Somali, though there is no clear evidence of the fact that the terrorist organizations responsible for the biggest world terrorist acts take their places in either of the countries. On the contrary, the intervention to these countries has caused chaos and disorder. This statement can possibly be denied by the explanation that the war was not the absolutely desirable way out to stabilize situation in the country, and was actually aimed at creating new society with democratic values, but the fact that presence of the terrorist organizations was only suspicion, and it is yet not understood, after so many years of war, whether this war was the best solution for the problems which existed between the two countries. It has caused deaths of thousands people of the common population but has not yet reached its goal of destroying terrorist groups. Thus, suspicion is not enough to start and hold wars. Thus, we come to another argument against wars – innocent people mos tly become the victims of the political games, which often turn into wars. Modern times represent us with the new kinds of wars, which countries and peoples can have against each other, starting from physical (military), and ending with the informational and oil (gas) wars. The issue of the innocent people is more related to the fact when one speaks about military actions. ‘While the image of bombers flying over Afghanistan and bombing a people whose average lifespan is about 45 years of age and who are suffering terrible deprivation already -- not least due to the Taliban, which the U.S. helped create and empower -- is horrifying enough, it is important to realize that death and deprivation come in many forms. Even without widespread bombing, if the threat to attack the civilian population or outright coercion of other countries leads to curtailment of food aid to Afghanistan, the ensuing starvation could kill a million or more Afghans by mid-winter. Is this the appropriate response to