FACULTY OF BUSINESS AND MANAGEMENT STUDIES UNDERGRADUATE BUSINESS PROGRAMME ACADEMIC YEAR 2020-2021, 2nd semester April - 2021 WRIT1 Programme Title: BMS Module Title: Human Resource Management in Context Module Code: GHL5000 Assessment Method: Assignment Level: 5 Module Credits: 20 Due Date: May 10, 2021 Examiner(s): Dr

Subject:BusinessPrice:15.89 Bought3

Share With

FACULTY OF BUSINESS AND MANAGEMENT STUDIES UNDERGRADUATE BUSINESS PROGRAMME ACADEMIC YEAR 2020-2021, 2nd semester April - 2021 WRIT1 Programme Title: BMS Module Title: Human Resource Management in Context Module Code: GHL5000 Assessment Method: Assignment Level: 5 Module Credits: 20 Due Date: May 10, 2021 Examiner(s): Dr. Roland Pg. 1 Version 1 Block: 2 Weighting: 50% Word Count: 2000 Gulf College – Faculty of Business and Management Studies – In academic Affiliation with CARDIFF SCHOOL OF MANAGEMENT A. ? ? ? ? ? ? ? B. ? Written work A signed declaration that the work is your own (apart from otherwise referenced acknowledgements) must be included after the reference page of your assignment Each page must be numbered. Where appropriate, a contents page, a list of tables/figures and a list of abbreviations should precede your work. All referencing must adhere to School/Institutional requirements. A word count must be stated at the end of your work. Appendices should be kept to the minimum and be of direct relevance to the content of your work. All tables and figures must be correctly numbered and labelled. Other types of coursework/assignments Where coursework involves oral presentations, discussions, poster presentations, etc., specific instructions will be provided by your module leader/team. ?--------------------------------------------------------------------------------------------------------------------------------------------Rewrite below part just after the References of your assignment. WORK DECLARATION I, [Name of Student], hereby declare that the uploaded Assignment through Turnitin is my own work. I affirm that this has been researched and completed in accordance with the college rules and regulations on plagiarism. I acknowledge the advice given by the module tutors on proper referencing to avoid plagiarism and the rules on the academic unfair practice. I acknowledge that I read and understand the plagiarism guide written at the end of this assessment. Any academic misconduct will be handled according to the rules and regulations of the university. [Name of Student] General instructions Assignment must be submitted online through Turnitin before due date. An acknowledgement will be given to you by your teacher upon presentation of the finance clearance. This is your receipt, keep it. The only circumstance in which assignments can be uploaded late via Turnitin is if a Mitigating Circumstances (MC) form is submitted at the same time. In these circumstances work may be submitted within five (5) working days. Make sure to secure MC form and submit the same to the concerned staff. Write the number of words used, excluding references, at the end of your assignment. Provide the list of sources you used at the last page of your assignment with proper label ‘References’. You may include diagrams, figures etc. without word penalty. The number of words will be + or – 10% of the total words allowed. A work declaration must be included just after the reference page of your assignment. This ensures that you prepare your work in good faith. Any form of collusion and/or academic unfair practice will be dealt with according to the pertinent rules and regulations of the partner university. Please read carefully the plagiarism guide. Assessment Details This Assignment assessment comprises 50% of the total assessments marks. This assignment will develop your analytical thinking, writing and critical thinking to apply theory in practice. It will also develop your skills in applying analytical tools in business context. In addition, the assessment will test the following learning outcomes: • Identify and evaluate the key business issues and external environmental factors that impact upon HR strategy and activities within organization. • Examine the role of HR and the specialist professional areas within the HR function. • Compare and scrutinise relevant and appropriate HR data sources for the purposes of carrying out business and environment planning. Pg. 3 Version 1 Gulf College – Faculty of Business and Management Studies – In academic Affiliation with CARDIFF SCHOOL OF MANAGEMENT Specific Assignment/coursework Brief Assessment Task Task 1 Critically discuss the advantages and disadvantages of rewards system management, and describe the role of rewards system in the organisation, with theory and example. (1000 words) Task 2 Evaluate and explain the importance of each selection process listed below: (1,000 words) • • • • Criteria development. Application and resume review. Interviewing. Test administration. ***END OF ASSIGNMENT TASK*** Assignment Guidelines: Please read the following fourteen points carefully before you start your portfolio: 1. You must give your analysis in all two tasks given. 2. Task 1 should be 1000 words, task 2 comprises of 1,000 words. 3. Total number of words required for the three tasks is 2000 words respectively. (+ or – 10%) that go over the word count will have marks deducted. 4. Ensure to follow and write the specific task given accordingly and do not mix the sequence, always follow the order of the task. 5. Relevant theories and citations must be included in every task. 6. Make sure to organize your thoughts, words and analyses, proper spelling in British English must be observed. 7. The assignment must be submitted to the Turnitin. 8. A minimum of 10 academic references must use within this assignment 9. You must acknowledge all your source(s) and all work should be correctly referenced using the standard Harvard referencing style adopted by the college, with a complete reference list at the end of the assignment. There is a guide on Moodle. 10. You should illustrate your answer with real life examples as this highlights your understanding of academic theory and your ability to apply practice to theory and theory to practice. 11. If you only research using just the recommended text from the reading list and/or base your essays on the lecture material alone, you will not gain high marks. 12. If you wish to gain higher marks you will need to engage in further reading using not just textbooks and but also articles, and you should read around the topics. 13. Write total word count just before the reference page. 14. Please upload your work in MS Word, no other file formats are allowed. ***End of Assignment Task GHL5000 - Human Resource Management in Context AY: 2020-2021 / 2nd semester Marking Scheme Question Description Marks Allocated Task 1. Critically discuss the advantages and disadvantages of rewards system, and describe the role of rewards system in the organisation. 1.1. Advantages (14marks) 1.2. Disadvantages (14marks) 1.3. Role ( 12marks) Discussions 40 Task 2. Discuss the importance of each process. 2.1. Criteria development (15marks) 2.2. Application and résumé review (15marks) 60 2.3. Interviewing (15marks) 2.4. Test administration (15marks) TOTAL 100 Plagiarism 1. Plagiarism, which can be defined as using without acknowledgement another person’s words or ideas and submitting them for assessment as though it were one’s own work, for instance by copying, translating from one language to another or unacknowledged paraphrasing. Further examples of plagiarism are given below: Use of any quotation(s) from the published or unpublished work of other persons, whether published in textbooks, articles, the Web, or in any other format, which quotations have not been clearly identified as such by being placed in quotation marks and acknowledged. Use of another person’s words or ideas that have been slightly changed or paraphrased to make it look different from the original. Summarising another person’s ideas, judgments, diagrams, figures, or computer programmes without reference to that person in the text and the source in a bibliography or reference list. Use of services of essay banks and/or any other agencies. Use of unacknowledged material downloaded from the Internet. Re-use of one’s own material except as authorised by the department. 2. Collusion, which can be defined as when work that has been undertaken by or with others is submitted and passed off as solely as the work of one person. This also applies where the work of one candidate is submitted in the name of another. Where this is done with the knowledge of the originator both parties can be considered to be at fault. 3. Fabrication of data, making false claims to have carried out experiments, observations, interviews or other forms of data collection and analysis, or acting dishonestly in any other way. Plagiarism Detection Software (PDS) As part of its commitment to quality and the maintenance of academic standards, the University reserves the right to use Plagiarism Detection Software (PDS), including Turnitin. Such software makes no judgment as to whether a piece of work has been plagiarised; it simply highlights sections of text that have been found in other sources. The use of plagiarism detection software fulfills two functions. The first is to enhance student learning (i.e. as a developmental tool); the second is to guard against and identify unfair practice in assessment. Further information and guidance can be found in the University’s policy on the Use of Plagiarism Detection Software. Pg. 7 Version 1 GHL5000 - Human Resource Management in Context AY: 2020-2021 / 2nd semester Marking Rubrics Pg. 9 Version 1 University of Technology and Applied Sciences Department of Business Administration BUSINESS PLAN FOR ENTREPRENEURSHIP BSCR3001 § Total Marks: 60 (40 for report & 20 for presentation) § Date of submissions: Week 13, late submission will be penalized by 5% per day. Task: Develop a Business Plan for a small business, which is innovative and feasible in Oman. Note: 1. 2. Your Business Plan shall be submitted and presented in the “National Level Business Plan Competitions” held at different locations in the Sultanate. Your Business Plan may be presented to a bank for raising a bank loan. Business Plan Format: To maintain parity among the formats of the Business Plans, the following is the suggested guidelines for writing the Business Plan: 1. The report must be typed, double-spaced. 2. The Font Type should be "Times New Roman." 3. The Font Size should be 12. 4. Should leave Margins on all sides. 5. Use subheadings within the report when appropriate. 6. A Table of Contents page is necessary. 7. A self-declaration and a certificate is necessary (see template below) 8. Appendices are also required. 9. Plan the report carefully to develop an organized and non-redundant report. It should be organized and assembled as a continuous report and should not appear to be several independent segments bound together. There is no limit for the length of the report, however, it should cover all the headings with appropriate contents and expect not less than 20 pages. 5% mark deduction on total marks is the penalty per each day of delayed submission. Entrepreneurship BUSN3404 Guidelines for B-Plan Page 1 Outline/Guideline of Business Plan Outline/Guideline of Business Plan ...........................................................................................................2 Cover Sheet............................................................................................................................................................5 Preparing B-Plan – Description: .......................................................................................................................5 Self-Declaration (By Individual / By the Team Members)......................................................................................5 Executive Summary: ..............................................................................................................................................6 Company Summary:...............................................................................................................................................7 Company Summary............................................................................................................................................7 Company Ownership .....................................................................................................................................7 Company History (for ongoing companies) or Start-up Plan (for new companies) .......................................7 Objectives ......................................................................................................................................................7 Keys to Success ..............................................................................................................................................7 Customer Segments / Market Analysis Summary..................................................................................................8 Product and Services Summary: ........................................................................................................................8 Your Market: ......................................................................................................................................................8 Market Segmentation ........................................................................................................................................8 Customer Segments .......................................................................................................................................8 Target Market Segment Strategy.......................................................................................................................8 Market Needs ............................................................................................................................................8 Market Trends ...........................................................................................................................................8 Market Growth ..........................................................................................................................................8 The Market Analysis: .........................................................................................................................................9 Competition and Buying Patterns ..................................................................................................................9 Main Competitors ..........................................................................................................................................9 Overview of “What you’re going to sell”: ......................................................................................................9 Products and Services ........................................................................................................................................9 Product and Service Description ....................................................................................................................9 Value Proposition.......................................................................................................................................9 Marketing Strategy ..................................................................................................................................10 Positioning Statements ........................................................................................................................10 Pricing Strategy ....................................................................................................................................10 Promotion Strategy ..............................................................................................................................10 Entrepreneurship BSCR3001 Guidelines for B-Plan Page 2 Distribution Patterns............................................................................................................................10 Marketing Programs ............................................................................................................................10 Sales Strategy .......................................................................................................................................10 Sales Forecast ......................................................................................................................................10 Sales Programs .....................................................................................................................................10 Key Resources and Management Summary ........................................................................................................11 Organizational Structure ..............................................................................................................................11 Management Team......................................................................................................................................11 Personnel Plan .............................................................................................................................................11 Management Summary/ Your Management Team: ........................................................................................11 Explain Your Organizational Structure: ..................................................................................................11 Omani Ecosystem ............................................................................................................................................11 Business Environment..................................................................................................................................11 Legal Issues ..................................................................................................................................................11 Government Polices and Funding Agencies. ................................................................................................11 External and Internal Factors. ......................................................................................................................11 Competitive Edge. ........................................................................................................................................11 Risks .............................................................................................................................................................11 Industry/Target Market Feasibility Analysis ....................................................................................................12 Industry analysis ..........................................................................................................................................12 Is the Venture Feasible? ..............................................................................................................................12 Strategy and Implementation Summary..........................................................................................................12 Competitive Edge .........................................................................................................................................12 Competitive Comparison: ........................................................................................................................12 Channels / Strategic Alliances ..........................................................................................................................14 Suppliers: Identify key suppliers, Names and addresses. ..................................................................14 Customer Relationships ...................................................................................................................................14 Key Resources ..................................................................................................................................................15 Key Activities / Milestones...............................................................................................................................15 Competition .....................................................................................................................................................15 Technology: ...............................................................................................................................................15 Future Product: ............................................................................................................................................16 Sales Literature: ...........................................................................................................................................16 Omani Ecosystem: ...............................................................................................................................................16 Entrepreneurship BSCR3001 Guidelines for B-Plan Page 3 Market Analysis Summary: ..................................................................................................................................16 Industry/ Target market Feasibility analysis: .......................................................................................................16 Industry analysis/ Facts about your industry: ..................................................................................................16 Target market attractiveness:..........................................................................................................................16 Organizational Feasibility Analysis: ..................................................................................................................17 Strategy and Implementation Summary: .......................................................................................................17 Sales Strategy: ..............................................................................................................................................17 Sales Programs: ........................................................................................................................................18 Credit Policies ............................................................................................... Error! Bookmark not defined. Your marketing Plan: ........................................................................................................................................18 Competitive Edge: .........................................................................................................................................18 Marketing Strategy Summary:.....................................................................................................................18 Financial Analysis Summary: ................................................................................................................................19 Financial Analysis Summary- Cost Structure revenue streams ........................................................................19 Financial Management ............................................................................................................................19 Preparing financial statements ............................................................................................................19 Appendices: .........................................................................................................................................................20 Entrepreneurship BSCR3001 Guidelines for B-Plan Page 4 1.COVER SHEET PREPARING B-PLAN – DESCRIPTION: Create Cover Page: The Cover Page should include the following: plan name, company name, company address, company phone and fax, an email address and possibly a revision number or copy number. ABDULLAH 2.SELF-DECLARATION (BY INDIVIDUAL / BY THE TEAM MEMBERS) DECLARATION AND CERTIFICATE ABDULLAH We,______________________________________________________________________________________ __________________________________________________________________________________________ _______________________________________, hereby declare that the work in this Business Plan is our own original work. All sources used or referred to have been documented and acknowledged. We declare that this Business Plan has not been previously submitted in full or in partial fulfillment of the requirements for an equivalent or higher qualification at any other recognised education institution. Names and IDs and signatures: ________________________________________________________ ________________________________________________________ ________________________________________________________ ________________________________________________________ Date: Entrepreneurship BSCR3001 Guidelines for B-Plan Page 5 3.EXECUTIVE SUMMARY: This is a summary of the main highlights of your plan. This part will help the readers to understand the purpose and other information related to the business. Even though the topic appears first in the printed document, the Tasks list leaves it until the end. This summary is the doorway to the rest of the plan. Get it right or your target readers will go no further. As a general rule, the first paragraph should include: • Business name • Business location • What product or service you sell • Purpose of the plan ABDULLAH Entrepreneurship BSCR3001 Guidelines for B-Plan Page 6 4.COMPANY SUMMARY: This can be used as a summary paragraph about your business. Describe the ownership details and legal establishment of the company. This is mainly specifying whether your company is a corporation, partnership, sole proprietorship, or some other kind of legal entity, such as a Limited Liability Corporation. You should also explain who owns the company, and, if there is more than one owner, in what proportion. Describe whether it is an ongoing business or a new business. Describe where your business is located, how long it has been around, what products or services it sells, and to whom. Briefly describe location of offices and location of your company, the nature and function of each, square footage, lease arrangements. The main objectives, Vision, Mission statements and the key factors of success may be clearly mentioned in this point. COMPANY SUMMARY COMPANY OWNERSHIP COMPANY HISTORY (FOR ONGOING COMPANIES) OR START-UP PLAN (FOR NEW COMPANIES) OBJECTIVES KEYS TO SUCCESS ABDULLAH Entrepreneurship BSCR3001 Guidelines for B-Plan Page 7 CUSTOMER SEGMENTS / MARKET ANALYSIS SUMMARY 5.PRODUCT AND SERVICES SUMMARY: Describe the products or services you offer, how they are provided and by whom, and plans for future product or service offerings. The previous topic was the summary, so in this topic, you need to provide more detail. List and describe the products or services you sell. Cover the main points, including what the product or service is, how much it costs, what sorts of customers make purchases, and why. You might not want or need to include every product or service in the list, but at least consider the main sales lines. Batoul 6.YOUR MARKET: This section is where you define Your Market. Here you will describe your market segment, strategy, market needs, trends and growth. Batoul 7.MARKET SEGMENTATION CUSTOMER SEGMENTS Batoul 8.Target Market Segment Strategy. BATOUL MARKET NEEDS MARKET TRENDS MARKET GROWTH What evidence do you have to support this estimate? What assumptions did you make? How might you confirm them? How easy is it to target the market? Market Segmentation: Segmentation can make a huge difference in understanding your market. In today’s business it’s easy to see segmentation in action. Consider the different tone, content, and media for ads that sell products to kids, compared to those that sell the same product to parents. Car companies change their advertising substantially from one type of program to another. Target market and Know Your Customers: Entrepreneurship BSCR3001 Guidelines for B-Plan Page 8 Aside from just counting the customers, you also want to know what they need, what they want, and what makes them buy. The more you know about them, the better. For individuals as customers, you probably want to know • their average age, • income levels, • family size, • media preferences, • buying patterns, • social class and occupation • education and as much else as you can find out that relates to your business. If you can, you want to divide them into groups according to useful classifications, such as income, age, buying habits, social behavior, values, or whatever other factors are important. THE MARKET ANALYSIS: COMPETITION AND BUYING PATTERNS 9.MAIN COMPETITORS The market analysis section in a business plan is the section that is most likely to require research for information from outside your business, while most others require thinking and analysis of factors within your business. Make sure to explain and define the different segments in your table, particularly since you refer to them and they are the basis of your strategy. ABDULLAH 10.OVERVIEW OF “WHAT YOU’RE GOING TO SELL”: For the standard plan, this is where you tell your reader about your products or services, or both. This step in the process is much more important for plans going to external readers – like banks and investors – than for internal plans. In all cases, though, it is a good place to focus thoughts about what you sell and why people buy from you. ABDULLAH 11.PRODUCTS AND SERVICES SAMAH PRODUCT AND SERVICE DESCRIPTION VALUE PROPOSITION For Whom are you creating value? Who makeup the potential and target audience that you are addressing? Entrepreneurship BSCR3001 Guidelines for B-Plan Page 9 What are their key defining characteristics- i.e.., demographics, behaviors? What is their compelling problem/need or pain? Which segment(s) are most attractive? Why? Do your target customers care about how you create/offer social value? What evidence do you have to support this estimate? What assumptions did you make? How might you confirm them? How easy is it to target the market? Are you providing social value to the communities you serve? What are you specifically offering? What are the most important benefits to your target audience? Is value sufficient to adopt your product or service? What is the problem you are trying to solve or the opportunity you are attempting to seize? What value do you deliver to the customer? How are you creating social value? Which customer needs are you satisfying? What bundle(s) of products and services are you offering to each segment? 12.MARKETING STRATEGY SAMAH 13.POSITIONING STATEMENTS WALEED 14.PRICING STRATEGY SAMAH 15.PROMOTION STRATEGY WALEED 16.DISTRIBUTION PATTERNS SLYEM 17.MARKETING PROGRAMS BATOUL 18.SALES STRATEGY SLYEM 19.SALES FORECAST BATOUL 20.SALES PROGRAMS WALEED Entrepreneurship BSCR3001 Guidelines for B-Plan Page 10 21.KEY RESOURCES AND MANAGEMENT SUMMARY WALEED ORGANIZATIONAL STRUCTURE MANAGEMENT TEAM PERSONNEL PLAN 22.MANAGEMENT SUMMARY/ YOUR MANAGEMENT TEAM: WALEED Summarize how many employees the company has, how many managers, and how many of the managers are founders. Is your team complete, or are there still gaps to be filled? Is your organizational structure sound, with job descriptions and logical responsibilities for all the key members? Who will manage the business on a day-to-day basis? What experience does that person bring to the business? What special or distinctive competencies? Is there a plan for continuation of the business if this person is lost or incapacitated? 23.EXPLAIN YOUR ORGANIZATIONAL STRUCTURE: WALEED The organizational structure of a company is what you frequently see as an organizational chart. If you have access to a graphic of an organizational chart that works really, well at this point. Make sure you explain how job descriptions work and how the main company functions are divided up. Are your organizational lines drawn clearly? Is the authority properly distributed? Do you have jobs that include responsibility without authority? Do your resources seem in line with your organizational needs? 24.OMANI ECOSYSTEM SAMAH BUSINESS ENVIRONMENT LEGAL ISSUES GOVERNMENT POLICES AND FUNDING AGENCIES. EXTERNAL AND INTERNAL FACTORS. COMPETITIVE EDGE. RISKS Entrepreneurship BSCR3001 Guidelines for B-Plan Page 11 INDUSTRY/TARGET MARKET FEASIBILITY ANALYSIS 25.INDUSTRY ANALYSIS SLYEM How large is this market? Industry attractiveness Target market attractiveness Distribution Patterns Market Timelines Organizational Feasibility analysis. 26.IS THE VENTURE FEASIBLE? SLYEM Based on the answers addressed in your Pre-feasibility Plan: NOTE: YOU HAVE TO FOLLOW THE RECORDING LEACTURE. Does your proposed business model and strategy work? Are you able to support a model that creates and/or supports social value? Do you need to explore changes to any element of your business modle to increase you chances of success? What additional research do you need to conduct? 27.STRATEGY AND IMPLEMENTATION SUMMARY WALEED COMPETITIVE EDGE COMPETITIVE COMPARISON: Use this topic for a general comparison of your offering as one of several choices a potential buyer can make. There is a separate topic, in the market analysis section, for a detailed comparison of the strengths and weaknesses of your specific competitors. In this topic you should discuss how your product lines and retail offering compare in general to the competition. For example: • • Your jewelry store might be mid-range in price but well known for proficiency in appraisals, remounts, and renovation. Your hobby shop has by far the largest selection of model trains and airplanes. In other words, you want to discuss how you are positioned in the market. Why do people buy from your business instead of from others in the same market? What do you offer, at what price, to whom, and how does your mix compare to others? Think about specific kinds of benefits, features, and market groups, comparing Entrepreneurship BSCR3001 Guidelines for B-Plan Page 12 where you think you can show the difference. Do you sell better features, better price, better quality, better service, or some other factor? Entrepreneurship BSCR3001 Guidelines for B-Plan Page 13 CHANNELS / STRATEGIC ALLIANCES 28.SUPPLIERS: IDENTIFY KEY SUPPLIERS, NAMES AND ADDRESSES. BATOUL Through which channels do your customer segments want to be reached? How will you reach them? Are your channels integrated? Do some work better than others? How is your target audience currently addressing the problem/need? What alternatives (substitute solutions) do they have? Who’s your competition? Which channels are most cost-efficient? Will you integrate your channels with customer routines and behaviors? Key Partnerships Who are your key partners? Who are your key suppliers? Which key resources or expertise/experience do we need from partners-optimization, economy of scale, reduction of risk, access to customers and / or markets 29.CUSTOMER RELATIONSHIPS SLYEM What type of relationship does each customer segment expect you to establish and maintain with them? How expensive is ethically acquiring, maintaining and retaining this relationship? What is the customer lifetime value? How is this relationship integrated with the rest of your business model? Revenue Streams What are your customers willing to pay? What do they currently pay? How are they currently paying? How would they prefer to pay? How much does each revenue stream contribute to overall company revenue? How will you charge for you product/ service? Entrepreneurship BSCR3001 Guidelines for B-Plan Page 14 30.KEY RESOURCES WALEED What key resources does your value proposition require? What are your needs in terms of physical, intellectual and financial resources? What needs do you have to ensure you can ethically distribute through identified channels? What resources do you need to acquire and maintain customer relationships? What resources will you need to launch and how do you plan on accessing them? What resources are required by any business operating in this space? What resources are unique to your solution/competitive position? What do you still need to research? What are the most critical skills and people resources needed to successfully launch the business What are the values that you and your team expect to exemplify and communicate in this venture. What kind of culture do you want to create? 31.KEY ACTIVITIES / MILESTONES SLYEM What activities are required to deliver your value proposition? How do these activites support the social value you will create or build into your busnness model? How do these activities impact the following areas: production, problem-solving, network, distribution channel, customer relationships, and revenue-stream? 32.COMPETITION ABDULLAH What products and companies will compete with you? List your major competitors: (Names and addresses). TECHNOLOGY: In this section, explain how technology affects your business, the products you sell, the means you use to sell them, and the needs of the customers you serve. Sometimes, technology can be vital to a service company, such as the case of the Internet provider that uses wireless connections as a competitive edge, or the local company that offers conference rooms for video conferencing. A travel agency might depend on its connection to an airline reservation system. Entrepreneurship BSCR3001 Guidelines for B-Plan Page 15 Technology can be critical to a manufacturing business in at least two ways: first, the technology involved in assembly or manufacturing, such as in the manufacture of computer chips; and second, the technology incorporated in your product, such as proprietary technology that enhances the value of the product. In either case, technology can be a critical competitive edge. Not all businesses depend on technology. Technology might also be irrelevant for your business. If so, you can delete this topic if it doesn’t seem important. FUTURE PRODUCT: Now you want to present your outlook for future products or services. Do you have a long-term product strategy? How are products developed? Is there a relationship between market segments, market demand, market needs, and product development? SALES LITERATURE: It is generally a good idea to include specific pieces of sales literature and collateral as attachments or appendices to your plan. Examples would be copies of advertisements, brochures, direct mail pieces, catalogs, and technical specifications. When a plan is presented to someone outside the company, sales literature is a practical way to both explain your services and present the look and feel of the company. 33.OMANI ECOSYSTEM: SAMAH Ecosystems are controlled by both external and internal forces. This chapter will focus on the Business Environment related to the proposed business. Description of different legal and government policies and procedures can be written. Description of the funding agencies for the proposed business. Details of various external and internal factors which may affect the business can be identified and listed with explanation. The last paragraph of this chapter will contain the competitive edge and the anticipated risks of the business. 34.MARKET ANALYSIS SUMMARY: SAMAH The Market Analysis is the chapter that is most likely to require research from outside your business. Describe the different groups of target customers included in your market analysis and explain why you are selecting these as targets. You may also want to summarize market growth, citing highlights of some growth projections, if you have this information available. You take a first look at whether or not your business will have enough customers to keep it healthy. For the next step, you need to go further into a market analysis. Look at existing, similar businesses. This is a very good first step. Find a similar business in another place. For starting a new business, talk to potential customers. As an essential first step, you should have a good idea of how many potential customers there are. Ask them what they want, why, where they get it, how much they pay, and so forth. 35.INDUSTRY/ TARGET MARKET FEASIBILITY ANALYSIS: SLYEM INDUSTRY ANALYSIS/ FACTS ABOUT YOUR INDUSTRY: • • What is the total size of your market? What percent share of the market will you have? (This is important only if you think you will be a major factor in the market.) TARGET MARKET ATTRACTIVENESS: Entrepreneurship BSCR3001 Guidelines for B-Plan Page 16 • • • Current demand in target market. Trends in target market – growth trends, trends in consumer preferences, and trends in product development. Growth potential and opportunity for a business of your size. ORGANIZATIONAL FEASIBILITY ANALYSIS: This part of the business plan will cover whether a proposed business has sufficient management expertise, organizational competence and resources to successfully launch its business in the Sultanate of Oman. 36.STRATEGY AND IMPLEMENTATION SUMMARY: WALEED Your Sales Forecast: The next step is developing your sales forecast. Don’t fear – it isn’t as hard as most people think. Think of your sales forecast as an educated guess. Forecasting takes good working knowledge of your business, which is much more important than advanced degrees or complex mathematics. A complete business plan should normally include some detailed text discussion of your sales forecast, sales strategy, sales programs, and related information. SALES STRATEGY: Describe sales strategy as it differs from marketing strategy. Sales should close the deals that marketing opens. To help differentiate between marketing strategy and sales strategy, think of marketing as the broader effort of generating sales leads on a large scale, and sales as the efforts to bring those sales leads into the system as individual sales transactions. Marketing might affect image and awareness and propensity to buy, while sales involves getting the order. Sales should close the deals that marketing opens. Sales strategies deal with how and when to sell e.g., :- • How do you sell? • Do you sell through retail, wholesale, discount, mail order, phone order? • Do you maintain a sales force? • How are sales people trained, and how are they compensated? • Optimize order processing and database management • Maneuver price, delivery, and conditions. As with your marketing strategy, your sales strategy depends a great deal on which market segments you’ve chosen as target market groups. You don’t sell major deals to large companies the same way you sell cereal Entrepreneurship BSCR3001 Guidelines for B-Plan Page 17 boxes off grocery store shelves. Think about how you sell in your business. What is your strategy for optimizing your way of selling? SALES PROGRAMS: Details are critical to implementation. Use this topic to list the specific information related to sales programs in your milestones table, with the specific persons responsible, deadlines, and budgets. How is this strategy to be implemented and measured? Do you have concrete and specific plans? 37.YOUR MARKETING PLAN: BATOUL With this section titled Your Marketing Plan, the exact nature of your plan and your marketing situation dictates its contents. It might contain marketing strategy, competitive edge and positioning segment. COMPETITIVE EDGE: You do not have to have the competitive edge to run a successful business--hard work, integrity, and customer satisfaction can substitute for it--but an edge will certainly give you a head start if you need to bring in new investments. • What is your competitive edge? • How is your company different from all others? • Is there a sustainable value that you can maintain and develop over time? The classic competitive edges are based on proprietary technology protected by patents. Sometimes market share and brand acceptance are just as important, and know-how doesn’t have to be protected by patent to be a competitive edge. For example, Apple Computer for years used its proprietary operating system as a competitive edge, while Microsoft used its market share and market dominance to overcome Apple’s earlier advantage. The competitive edge might be different for any given company, even between one company and another in the same industry. MARKETING STRATEGY SUMMARY: Your marketing strategy normally involves target market focus, emphasis on certain services or media, or ways to position your organization and your service uniquely. Sales strategy comes later. Do not confuse the two. Marketing might affect image and awareness and propensity to buy; sales involves closing the deal and getting the order. Strategy is creative, and hard to predict. Your marketing strategy depends a great deal on which market segments you have chosen as target market groups. You might also want to look at media strategy, organizational development, or other factors. Entrepreneurship BSCR3001 Guidelines for B-Plan Page 18 38.FINANCIAL ANALYSIS SUMMARY: Explain Projected Cash Flow: ABDULLAH Explain the key elements of the pro forma cash flow, which presents projected changes in cash balances. Focus on the Monthly Cash Flow chart: • In most business plans, the cash flow is negative for some months. • The cash balance, however, must not go below zero, because that would be equivalent to a negative balance in the checking accounts. You may choose to borrow money off a credit line to support your weak months and pay it off during your strong months. You might also be looking for new investment to improve your cash flow, or taking out a longterm loan, or selling assets. Explain your plan here, in as much detail as you can. Remember, your cash flow is critical. You spend cash, not profits. You can be a profitable business and have no cash. Many businesses are profitable when they die because they cannot get their money from inventory or receivables in order to pay their bills. By far, the most important part of both your Business Plan is your financial analysis. You’re asking for money and your summary must make a powerful case for why the investor’s money is safe with you and when and how he’ll see a return. If other investors have already come on board with you, identify them. Explain how much money you’ll need and how you’ll use it as well as sources funding. Identify your own contributions, whether they’re also financial or brain power. Mention your current financial picture fully. Here you are required to do the process of professional reporting and evaluating source and application of funds, cash flow, budgets, income statement, balance sheet and other finance-related issues to demonstrate the viability and suitability of your business for investment. Typically, financial analysis summary is used to analyze whether an entity is stable, solvent, liquid, or profitable enough to be invested in. Investors will often focus on the income statement, balance sheet, and cash flow statement which must be done as professionally as possible. This plan is being done for busy investors to decide whether to invest or not and must be reasonably detailed but to the point. 39.FINANCIAL ANALYSIS SUMMARY- COST STRUCTURE REVENUE STREAMS ABDULLAH FINANCIAL MANAGEMENT PREPARING FINANCIAL STATEMENTS INCOME STATEMENT BALANCE SHEET Entrepreneurship BSCR3001 Guidelines for B-Plan Page 19 CASH FLOW STATEMENT PREPARATION OF BUDGET WORKING CAPITAL MANAGEMENT SOURCES AND APPLICATION OF FUNDS. COST STRUCTURE WHAT ARE YOUR KEY COSTS? ARE THEY PRIMARILY FIXED OR VARIABLE? WHICH KEY RESOURCES ARE MOST EXPENSIVE? WHICH KEY ACTIVITIES ARE MOST EXPENSIVE? ARE YOU FOCUSED ON MINIMIZING YOUR COST OR MAXIMIZING YOUR VALUE? 40.APPENDICES: SLYEM This part of the report is supplement gives useful additional information by attaching questionnaires, pictures, brouchers, product specifications and any other promotion samples. Appendixes Questionnaire (MAKE A Questionnaire please AND survey for 5 peoples) Pictures Broucher’s Product Specification Promotion (Advertisement) samples.