Imagine you have just bought an existing business (it could be a takeaway shop, service -hairdressing, childcare, plumbing or any other small business.) in a busy location. Your plan is to restructure the business entirely and start with a fresh new set up. The available capital with you is limited, so you have decided to go for a business loan. While applying for a bank loan, the bank manager has asked a business plan. Now, you have to prepare structured business plan to achieve your goal.

1.Start preparing a miniature (short) business plan which will eventually help to design a full business plan. Use the following points;

a)A short description of your business (size, location, staffing and key operations)

b)Review and make changes to previous owner's plan

c)Identify mission, vision, and goals of business

d)List the stakeholders of your business and how to consult them

e)Provide examples of performance objectives that you could develop through consultation with key stakeholders.

f)Market information, competitors activity and a brief marketing/promotional plan

g)Human and physical resource requirements of your business

h)How you would like to finance your business

i)License or permit requirements

2.Discuss the ways in which the organization can communicate the plan and the implementation strategies to the stakeholders. The students may use a communication plan template (mention 5 different stakeholders) as below,

2. Discuss the ways in which the organization can communicate the plan and the implementation strategies to the stakeholders. The students may use a communication plan template (mention 5 different stakeholders) as below, Who What (message) When (date and How (method) Communicator (stakeholder) time) (who is delivering the message) Bank Request for Within 1 week Face to face with Supervisor Tim manager additional funding substantial or overdraft facility documents