Business Plan For A New Business Program - 1334 Words

Whenever a new business program is created, it explicitly employs a business model that is suitable for that particular business, which describes the design, the delivery and the mechanism it employs to achieve success. The core meaning of a business model is to define the value it delivers to its customers, make customer pay for the value provided, and converts these payments to profit (Teece, 2009). There are different types of business models and they suit different types of business. Berry (n.d), the founder of Palo Alto Software has mentioned about nine different models in his article named the lean business plan, the standard business plan, startup business plan, one-page plan, feasibility plan, annual plan, internal plans, operational and strategic plans. Business Plan Models 1. Startup business plan model It is always advisable to develop a startup plan before starting a business. It helps in easy decision making, helps in moving forward and making business successful. As this plan is very simple, it helps in understanding the business process clearly, and most importantly the customer needs. Compare to other models, this plan is better for a new and small business. This model can also be adopted just to get going until the business is elaborated, and also might not need a detailed financial analysis like cash flow, balance sheet or business ration initially. The limitation of this plan is that, it is only suitable for a new business and not fit for those who areShow MoreRelatedBusiness Strategies For Sacramento Business College1103 Words   |  5 PagesOption 1: Restructuring Help Business strategies are an important part of running a company. By exploring potential options for long-term goals a firm can better plan for their future and remain competitive in their respective markets. 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