Leo Sun Needs analysis is defined as a formal process focus on how a product addresses the needs of a human. It is not an official business development tool, but is considered a valuable analytical technique to better gauge the marketability of a product or a service to a human consumer. It is often used across many industries, such as software development, automobiles, consumer products and banking services. Needs analysis was originally used for software developers, who used the system in tandem with requirements analysis - a study of the elements represented within a system.
Audience[ edit ] Business plans may be internally or externally focused. Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders. These plans typically have detailed information about the organization or the team making effort to reach its goals.
With for-profit entities, external stakeholders include investors and customers,  for non-profits, external stakeholders refer to donors and clients,  for government agencies, external stakeholders are the tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fundthe World Bankvarious economic agencies of the United Nationsand development banks.
Internally-focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.
An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
Operational plans describe the goals of an internal organization, working group or department. They may also address the project's place within the organization's larger strategic goals. The content and format of the business plan is determined by the goals and audience. For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission.
Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.
Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.
Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. August Learn how and when to remove this template message The format of a business plan depends on its presentation context. It is common for businesses, especially start-ups, to have three or four formats for the same business plan.
An " elevator pitch " is a short summary of the plan's executive summary. This is often used as a teaser to awaken the interest of potential investors, customers, or strategic partners.
It is called an elevator pitch as it is supposed to be content that can be explained to someone else quickly in an elevator. The elevator pitch should be between 30 and 60 seconds.
The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks. If a new product is being proposed and time permits, a demonstration of the product may be included.
An internal operational plan is a detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders. Such plans have a somewhat higher degree of candor and informality than the version targeted at external stakeholders and others.
Typical structure for a business plan for a start up venture  cover page and table of contents.Assessing Viability and Feasibility of Business Ideas Dr. Neeraj Pandey Assistant Professor •Detail the marketing strategy you plan to use.
•Describe your marketing plan, including your sales strategy, advertising and promotion plans, pricing The Financial Plan 5. Appendices. STEPS FOR STARTING A ENTERPRISE 1. Selection of Product. The term Business Model is one that gets thrown around a lot these days.
Even though it might sound like a buzzword to you, it’s important to understand what a business model is, and how they are useful.
One of the confusing things about the business model concept is that there are a wide variety. Financial analysis shows the "reality" of the situation of a business -- seen as such, financial management is one of the most important practices in management.
This topic will help you understand basic practices in financial management, and build the basic systems and practices needed in a healthy business. The strongest business plans always include all or most of the components described below. Charles advises that first- time restaurateurs read a bunch of different business plans for other restaurants and technology and retail companies to get a better sense of layout .
THE 9 BUILDING BLOCKS. The Business Model Canvas categorizes the processes and internal activities of a business into 9 separate categories, each representing a building block in the creation of the product or grupobittia.com categories represent the four major aspects of a business; customers, offer, infrastructure, as well as financial viability.
target market, and the financial goals of the business. If your plan is designed to help you get a bank loan, include the information about the amount, type and purpose of the funds your are seeking.