Highlight six essentials of an ideal business plan
Describe the “organization and management” component of a business plan.
Highlight five reasons why a business plan is important to an entrepreneur.
Summarize six shortcomings of a business plan to an entrepreneur.
(i) Outline four uses of a marketing plan
(ii) Discuss four components of a marketing plan.
Outline four benefits of a business plan to an entrepreneur.
Explain four benefits of a good organization structure to an entrepreneur.
Wanachi Bicycles Limited specializes in designing and building customized bicycles to meet the specific needs of mountain bike racing professionals.
The company has earned a reputation of designing the best mountain bikes in the world because of its founder and master designer, Hassan Wa Baiskeli, a great entrepreneur.
Since the company started in the year 2002, 70% of the entire greatest mountain bike races in the world have been won by cyclists using bicycles designed by Wananchi Bicycles Limited. Wananchi Bicycle Limited intensified its marketing activities from the year 2007. The marketing budget has since grown four folds.
To generate business ideas the company has cultivated a culture of involving all the employees through focus groups discussions. As more and more people gain interests in competitive cycling, the demand for custom built bicycles is expected to increase significantly going by the performance of Wananchi Bicycles Limited. During the year 2012 London Olympics games, mountain bike racing was one of the competitive sports. The sales for the custom built bicycles are expected to increase exponentially next year.
To meet the expected demand for custom built racing bicycle that can handle mountain riding as well as road racing, Wanachi Bicycles Limited is seeking for additional financing to enable the company add new work stations and hire additional designers. If this investment is made, marketing projections and written commitments from several mountain bike racing teams will result in increase in sales by 150% next year. This increase translates into sales revenue of Shs. 200,000,000. To achieve the target sales, the company plans to undertake extensive marketing activities.
Using the above information and introducing any other relevant information, formulate a detailed marketing plan component for Wananchi Bicycles Limited business plan
(b) Explain six features of a good financial plan
(c) It is often said that 50% of privately owned business fail in the first year and 95% within the first five years.
Using an appropriate diagram describe “business life cycle”
a) Summarize the application of Abraham Maslow’s need theory to entrepreneurship development.
b) Discuss the contents of an operational plan for a manufacturing entity.
Describe five legal requirements which entrepreneurs need to fulfill in order to continue being in business.
a) Briefly describe the following effective distribution strategies:
i) Intensive distribution system.
ii) Selective distribution system.
iii) Exclusive distribution system.
b) Outline four strategies of setting the price of a product.
c) Explain the primary sources of marketing intelligence.
Explain the importance of a business plan to an entrepreneur.
A project report is prepared by an expert after a detailed study and analysis of the different aspects of the project.
With reference to the above statement, summarize the importance of a project report to an entrepreneur.