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    Explain the Internet's effects on planning by how it influences 1) the motivation for planning, 2) the processes for planning, and 3) the outcomes of planning. Be sure to give complete explanations of each effect, using examples in your discussion.

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    The Internet's Effects on Business Planning

    A Pew study indicates that only 2 percent of Americans can't get internet access, and over 80% of households have broadband access in some form. (Robertson, 2013) Most schoolchildren become familiar with the internet in their classrooms or in their visits to the school library, now called the media center. These children will grow up into a work environment that considers the use of the computer and the internet to be an essential business tool, as essential as a paper and pencil was a century ago.

    Planning is an all important part of building a business, second only to having a business dream. The business plan is the most important document when starting up a new business or branching out into a subsidiary business. Research can help determine the need for the goods or services that would be sold, the market percentage that could be achieved, the competition and the opportunities available in one's chosen market niche. The internet provides an important information source for all of these research subjects.

    This is a consideration of the internet's effects on planning by how it influences 1) the motivation for planning, 2) the processes for planning, and 3) the outcomes of planning.

    Here is an outline of the definitions of the necessary components of a business plan. Entrepreneur and investor Tim Berry provides an overview of the seven essential documents that are necessary for a business:

    1. The Executive Summary. This must contain the highlights of your business plan, in a format that assumes that important readers will read only this document.

    2. The Company. This section outlines the method whereby the legal entity of the company, including initial ownership, startup costs and initial funding. If the company is ongoing, this is where you put the history and past performance of the company.

    3. What You Sell. In this description of the products or services you offer, you can emphasize why the buyers want to buy, the benefit of buying it from this company and the costs of the delivery system you are using.

    4. Your Market. Here is where you describe the target market and demographics, as well as the trends of the market: growth, the nature of the industry, and competition. A table describing a market forecast is also an important insight to present to your readers.

    5. Strategy and Implementation. Strategy is the long term planning mechanism. Implementation is how that planning is accomplished: specifying target markets, specific products or services, sales forecasts, and distribution procedures. So focus on certain target market segments, certain products or services, and specific distribution avenues. Add dates of projected completion, budgets, and personnel responsibilities.

    6. Management Team. Names, functions, even missing officers and how their functions are addressed are included here. Also, personnel data such as compensation and other costs will begin to formulate the budget in this area.

    7. Financial Projections. Describe at least a three to five year financial strategy and the business' projected growth. A break-even analysis, with risk as a part of fixed vs. variable costs is part of this projected analysis, along profit or loss, cash flow and balance sheets. It will not hurt for startups to also include investments already in place, a bank loan application, and specific information for potential investors. (Berry, T., 2005)

    Two main motivations for business planning are: to succeed profitably in the business, and to plan practically and realistically for the future. For both, the businessperson needs accurate information.
    A useful guide toward discovering and meeting the needs of business is the Business Motivation Model. This Model, developed by the Business Rules Group, details the motivation behind business planning.

    Three rules governing this process, as described by this source, are

    1. Make business tactics sufficiently well developed to guide the actual performance of work.

    2 Provide fallback positions when some element of the business plans fails.

    3 Resolve conflicts when the Ends the business seeks are in conflict with one another.
    (The Business Rules Group, 2013, p 3)

    The internet can provide insights on how similar businesses develop. Their business tactics so as to successfully correlate them to the performance of work - such as specific steps used to produce the work, or connections to the cost of each work unit. The current value of the internet for the entrepreneur can represent an invaluable application to these motivation rules.

    In order to cover all details, the process of business planning should have a deliberate methodology - step by step. Grow Think, a company that designs business plan templates, recommends the following process, all of which could be helped with internet research: Research, Calculate, Draft, Revise and Proofread. This method follows standard document writing processes, but having a clear focus driven by information about your business industry will keep the process words from degrading into hype and overly optimistic dreams.

    Here you could use GrowThink's guiding information on the process of planning. Another more academic source on the business planning process that outlines some of the great questions that should be answered is:

    In defining outcomes, one can look to the news sources on the internet. By seeing the mistakes of other niche business owners, one can avoid them. Great sources are Entrepreneur.com, Best Industry Outcomes from PMI.org, CNN Business News, and Bloomberg Business Week.

    An outcome is more narrowly defined than a goal. Jackie Bailey of Biznik.com explains:

    "An outcome is a clarified goal, finely tuned. It organizes experiences around "what" is wanted and "how" it becomes possible to achieve. They are:
    Specific,on purpose, focused on future success, have an end result, and is measured by asking true and false questions."
    (Jackie Bailey, 2013, biznik.com)

    The drive and sense of optimism can work to motivate the entrepreneur to use every method of information gathering, planning, and strategic troubleshooting to achieve the goals of the business.

    ..
    References

    Jackie Bailey. What's the Outcome - Busienss Strategies That Work (July 18, 2010) Biznik.com
    http://biznik.com/articles/whats-the-outcome-business-strategies-that-work

    Tim Berry. Business Plan Essentials. (March 13, 2005) Entrepreneur.com
    http://www.entrepreneur.com/article/76482

    Best Industry Outcomes. PMI.
    http://www.pmi.org/en/Knowledge-Center/Research-Completed-Research/Best-Industry-Outcomes.aspx

    Bloomberg Business Week
    http://www.businessweek.com/

    Business Planning Process 5 Steps To Creating a New Plan Growthink.com
    http://www.growthink.com/businessplan/help-center/business-planning-process-5-steps-creating-new-plan#

    The Business Rules Group. The Business Motivation Model:Business Governance in a Volatile World.(May 2010)
    http://www.businessrulesgroup.org/second_paper/BRG-BMM.pdf

    CNN Business News
    http://money.cnn.com/news/

    Cole Ehmke and Jay Akridg. The Elements of a Business Plan:First Steps for New Entrepreneurs Department of (n.d.) Agricultural Economics, Purdue University
    http://www.extension.purdue.edu/extmedia/EC/EC-735.pdf

    David Port. How to Start a Business in 10 Days.
    (October 15, 2013) Entrepreneur.com
    http://www.entrepreneur.com/article/228659

    Adi Robertson. Only 2 percent of Americans can't get internet access, but 20 percent choose not to
    (August 26, 2013) The Verge. Vox Media
    http://www.theverge.com/2013/8/26/4660008/pew-study-finds-30-percent-americans-have-no-home-broadband.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

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    https://brainmass.com/business/marketing-information-systems/internet-affected-business-planning-627995

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