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Writing the BSBMGT617 assignment answers is not a cakewalk and we know that. That is why the subject matter experts with us not only help you with the assessment answers but also ensure to clear the doubts related to the major topics that fall under BSBMGT617. In this blog itself, I have discussed some of the vital topics and assessment questions that are asked as a part of the subject and you ought to know that in-depth before starting to write BSBMGT617 assessment solution. Whether you are tensed about the components of a business plan, external environmental factor and its impact on a business plan or production facilities that need to be taken into account before devising a business plan, we have answers for them in this blog. Without further ado, let’s head on to the content and help you out with your problem areas to pen that perfect BSBMGT617: The International Sunrise Group – Develop and Implement a Business Plan Assessment Answers.
Components of a typical business plan
First things first, let’s start with discussing what all are the components of a business plan. A business plan is a design that offers written information regarding the future of the business. In addition to this, a business plan also throws some light on the nature of the business, its background information and the plans, which will help in acquiring the set targets and/or goals, so to say. Below are some of the modules that need to be there in a business plan:
- Executive summary
- Company description
- Market analysis
- Competitive analysis
- Description of management
- Description of the organisation
- Products and services
- Marketing plan
- Financial projections
What is an external environmental factor and how do they impact the business plan?
As far as the definition of external environmental factor is concerned, it is defined as the aspects that have an impression or influence on the workings and jobs of the business, inside as well as outside of it. The firm or business must respond to these aspects to survive in the market. So, now the question arises as to what are the external environmental factors that have a major impact on the operations of the company? The answer to this question is that the economic factor and the social factor are the two key external factors that have an impact on the workings of the business. The economic factor highlights the demand and other economic variables that impact the company.
While earnings of the people in the area become the significant economic factor, on the other hand, the taste and preferences, habits, values and culture of people in an area fall under the social factor. There is no denying the fact that both the economic and the social factor will impact the business plan of the organisation. And the reason behind it is the that the economic factor will help the company in determining the production capacity required along with the other resources that will be required to produce the final products and the social factor will talk about the changing preferences of the target customers, which would eventually help in making strategic changes.
Production Facilities That Should Be Considered When Implementing a Business Plan
In a company, a production facility is a provision that is present as a part of aid production. So, when implementing or executing a business plan, one must consider the provision for a manufacturing plant that will have the required area to undertake all the production activities, firstly. Secondly, the availability of raw material from supplies regularly is also to be taken into consideration. This will help in having continuous production of final products and services for the customers. Last but not the least, the production tools, machinery and equipment are to be considered to ensure smooth production of the products in the firm.
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