Consider the following scenario:
You have decided that you would like to formally start an entrepreneurial business. To ensure the success of your business, you will produce a business plan. The plan will assess, compare and contrast alternative schools of thought, cultural and political differences which impact the application of management activities within the broad notion of entrepreneurship. The plan that you submit should contain at least the following components:
Definition of the market
Description of proposed products or services
Organization and management descriptions
The firm intends to make four types of plastic molded chairs and one type of plastic tool. The plastic molding plant will be world class, will produce high quality chairs, and will satisfy the need for ergonomically designed chairs. The chairs will be marketed through large national discount chains, through regional distributors, and direct through the firm website. The company expects to earn sales revenues of $26 million during the first year and earn a net income of $4 million. During the fourth year of operation, the firm expects to achieve sales revenues of $50 million and a net income of $12 million.
The business will make and market plastic molded chairs and stools. At the starting of the business there will be four types of chairs, namely, luxury chairs, mid-range chairs, high back chairs, and without arm chairs. In addition, the firm will also make plastic tools. The manufacturing will be through plastic molding process. There will be special CNC cut molds that will be long lasting and help produce the chairs and tools on a large scale. The molds will be accurate as well as strong. This will ensure a very low rejection rate as well as low downtime of the production process. the raw materials for the chairs will be plastic pellets and plastic color pellets. The raw materials will be of the highest quality so that the chairs get good feedback from the customers.
The high backed chars have been designed to provide comfort to the user. The luxury chairs have incorporated in them a number of ergonomic features that make sitting on the chair a pleasure. The luxury chairs provide stability and have attractive looks. In the manufacturing of luxury chairs, a special imported additive will be used that will make the chairs stronger, give them the right type of flexibility, and give the chairs an attractive look. The mid-range chair will enable the customers get the features of a world class chair at very low prices. The chairs without arms are excellent where a large number of chairs are to be placed in a limited area. ...
This explanation provides you a comprehensive argument relating to Entrepreneurial Business