Financial Business Plan
(Company: Alpha HR Provider)
Name of the Student:
Student ID:
Project Supervisor:
Table of Contents
Introduction
The Concept
Market analysis
Decision making and Business Process
Conclusion 7
References
Introduction
Business plans are a predominant feature of new business management and are encouraged by government agencies, educational institutions and consultants. They are often needed to find financing. It is also widely believed that writing a business plan will positively impact business results. However, Honig (2008) and Honigand Karlsson (2004) question whether written business plans are more than facial expressions that, at best, serve to legitimize new business. Bidet (2000) also suggests that the impact of business plans on the performance of a new business is unlikely to have an overall positive, negative or negligible impact. Instead, he argues that the effectiveness of business plans is determined by the context in which business plans are drawn up. Some are designed to attract debt financing to appease low-risk lenders and ensure positive cash flow for the business; others seek to help funded founding entrepreneurs develop a go-to-market and growth strategy for an innovative, high-risk product in an emerging market. The impact on efficiency may not be the same under these very different conditions. A company that employs many people with relevant experience may think that writing a business plan is a waste of time (Bhimani,2017).
Every year in the UK thousands of students graduate. Many are qualified for getting employed in a good company. However, many of them do not get opportunities. This in result, the issue of low economics is faced by the graduated students. One of the possible reasons why this issue is rising up is the failure to fill the application form. They have limited access to the information of the company where to apply for the job. They are limited to understand how to fill and complete the form or the essay way to apply. Since, nowadays most of the most companies are digitised and all the forms and requirements to apply for the job are done through online. There are also companies which are not genuine and usually run for looting through using big companies names for scamming. It is hard to easily believe any such offer and get registration paying some amount to get a secure job (Nthenge,2017).
Therefore, being able to access proper information about the company and easily be able to fill the form by the graduated students can deprived the economic issue among them.
The Concept
Job searching app is founded by Jackson Park but lately it has been sold to Mr Rich. It has been a year since Mr Rich has been running the company. Over this time the review of the company has been fairly rated. Job Search app helps the graduated students in finding the right job according to their field and interest by providing proper information about the company. The app helps detecting the genuine website and information of the company through their software and thus this helps in protecting the students to not fall under the scam of the fraudster (Mitchell,2019).
The Job search app is a web-based platform where low budgets students can also easily get access to it. They only need to pay €3 for the first time registration and it is free for a month. They can keep updating every month by €1. To get premium membership they can get registered for €5.
Given the information and facts about the students the job searching app will match the student profile with the company. Using the in-depth information about the company the app will verify the authenticity of the company and the website the app will further recommend to fill the form. It also further assists if the students get confused in the process of filling the form. It ensures that students don’t make any error and secure the filling of the forms. The whole process of guidance takes place online, allowing the students to overcome the barrier of geography (Brigham,2021).
The Mission
The mission of the Job search app is to help the qualified graduates to find the relevant job by recommendation from the company. It eliminates the company which is run by fraudsters. It helps the students to fill their forms rightly and make them secure in meeting the requirements and reaching the company. This helps deprive the economic issue among the graduates (Cornwall,2019).
Management team
Job search App Company has five strong managing teams whose background, education, computer knowledge, consultation and application development abilities help leading the company. They are given overall in charge of the company by the owner. They now hire the employees, connect the company with other organisations and help grow the company according to its vision.
Market analysis
Job search app company plans to target 5000 low income students who are qualified to get a job but do not get enrolled. The company attempts to guide the students which have the largest concentration of needing the jobs. This is done through reaching out to colleges and universities. The company will also advertise the app in the social media platform for better marketing. In this first year, the company will serve 2500 applicants by six months and then 2500 applicants by the end of the year Cherba,2019).
There are also many companies like Job Search Company but the Job search will be the first to provide free trials, personalised students in the UK and get them introduced to the app. This gives advantages, establishing a Job search app as the core source for helping the college graduates getting the job.
Financial plan
The model of this Job search app project will be capital-flow positive by the end of the year. The expense will be driven by web-development costs, and it will gradually progress from €10,000 and monthly profits to €3,000 within 12 months. The company will be usually funded by grants and every month registration, and will slowly introduce additional revenue streams including advertising and corporate partnership.
Operation
Like the former, the company will operate from one place for now. This will save the rent fare. Eventually after the increase and growth of the company it will be operated in different places. But the main operation centre will be in the UK.
Decision making and Business Process
Although other approaches can be used (eg MANOVA and multiple regression), they cannot solve the problem of endogeneity. In short, the advantage of the model is that it can simultaneously manage the endogeneity of business plans and identify the effects of interaction. The end result is that our approach allows us to more realistically assess the impact of creating a business plan on the performance of a new company. We apply the model to the UK’s 622 data on new entrepreneurs with an efficiency indicator: job growth. Like others, business plans are defined as the activities of a company founder to gather information for the use of business opportunities and are documented in a written business plan (Castrogiovanni, 1996; Delmar and Shane, 2003). The data set allows us to identify some contexts (eg introduction of a new product / service, use of bank financing) and profile variables (eg business series / portfolio not previously worked). In the next section, we explain why business plan theory requires an empirical methodology sufficient to select the impact and aspects of the relationship between business plans and new indicators. This section begins by exploring how writing a business plan can affect business performance. We then go on to discuss the implications of a choice that can create the illusion of written business plans that have an impact, if the results are truly different, simply because of differences in profiles / relationships. We then discuss the data set and examine it, discussing the methodology.
Key Elements for growth
- Qualified employee: to expand the growth of the company there must be an expert or qualified worker. Who has the knowledge overall about web-programming? Further, they should be advanced than other average.
- Dedicated mentor: they need to sincerely help the students get access to the information. Through checking constant mails and messages. They need to be broadly connected with other organisations, universities and students’ related organisations to get sufficient information so as to provide the students.
- Web-based platform: the interaction between students and company is done though web-based platforms. Thus the platform plays the pivotal features for the growth of the company. They see the algorithm and make pairing with the students’ information with company availability. The platform is made easily accessible without much complication yet with secure encryption.
Value proposition
- Value of the student application
- Reducing information cost which is affordable
- Reducing application support costs
- Value for the community or society
Calculation of work performance
- Deriving operational success for the applications
- Offering high-performance platform of functionality
- Making sure for the growth and success of students service
- Sustainable success while maintaining cost-efficiency
Strategy and implementation
- Proper plan for growth strategy
- Proper management plan
- Clear pricing strategy
- Marketing strategy
- Securing the marketing place that is by making first free move, building app equity, and innovating continually
- Check the risk by critical observation
- Milestone. How far the company will go.
- The financial plan should be dealt seriously. After all the main purpose of the company apart from helping the students is to make profit. Thus the revenue should be done properly. The expenses, net surplus, quarterly and annual income, balance sheet and sustainability.
Meeting Report: minutes
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| DATE OF MEETING: 26/03/2021 | |
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Conclusion
However, our results show that writing a work plan is geared towards developing low-income people, even in low-income companies. This statement underlines the role of external support. Again, this shows the same picture: those with work plans and external support are more likely to see their business grow. It also contains statements that view business plans as positive isomorphic pressure on the business. At the beginning of this article, we learn that Honig and Carlson (2004) questioned the value of their work plans. Their argument was that new plans to adhere to certain organizational arrangements and remain unchanged (“just act”) were forced to write a work plan. Our results indicate that if true, it is good for the productivity of the new venture. In other words, while action plans seem to play a similar role, this discipline forces us to find positives rather than negative ones. Indeed, our results show that the efforts of service providers to improve the quality of new work plans, especially those who previously worked in unemployed and low-income enterprises, are effective. This means that if the goal is to increase employment, this support policy needs to be strengthened by policymakers. In general, we find indications of different effects depending on the profile and operating conditions of the company. However, this change is significant, as a written work plan is constantly being drawn up to increase employment in new enterprises. These results demonstrate the importance of a written work plan. By setting goals and defining strategies for exploiting entrepreneurial opportunities, written business plans improve business decision-making, even when improvisation is important.
References
Bhimani, A., 2017. Financial management for technology start-ups: A handbook for growth. Kogan Page Publishers.
Boma, P.B., 2018. Financial management and practices for principals on quality service delivery in secondary schools Rivers State. International Journal of Innovative Finance and Economics Research, 6(2), pp.62-69.
Brigham, E.F. and Houston, J.F., 2021. Fundamentals of financial management. Cengage Learning.
Brown, M.T., Rascher, D.A., Nagel, M.S. and McEvoy, C.D., 2021. Financial management in the sport industry. Routledge.
Cherba, V.M., Khomutenko, O.V., Diegtiar, O.A. and Palant, O.Y., 2019. FINANCIAL AND ECONOMIC INNOVATIONS AS A TOOL FOR ANTI-CRISIS FINANCIAL MANAGEMENT AT AN ENTERPRISE. Financial and credit activity: problems of theory and practice, 1(28), pp.245-255.
Cornwall, J.R., Vang, D.O. and Hartman, J.M., 2019. Entrepreneurial financial management: An applied approach. Routledge.
Kautsar, A. and Asandimitra, N., 2019. Financial Knowledge as Youth Preneur Success Factor. Journal of Social and Development Sciences, 10(2 (S)), pp.26-32.
Loke, Y.J., 2017. The influence of socio-demographic and financial knowledge factors on financial management practices of Malaysians. International Journal of Business and Society, 18(1).
Mitchell, G.E. and Calabrese, T.D., 2019. Proverbs of nonprofit financial management. The American Review of Public Administration, 49(6), pp.649-661.
Nkundabanyanga, S.K., Akankunda, B., Nalukenge, I. and Tusiime, I., 2017. The impact of financial management practices and competitive advantage on the loan performance of MFIs. International Journal of Social Economics.
Nthenge, D. and Ringera, J., 2017. Effect of Financial Management Practices on Financial Performance of Small and Medium Enterprises in Kiambu Town, Kenya. American Based Research Journal, 6.
