The Entrepreneur v. the Planner
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Q1. Rodrigues made the same mistake that many people make when they decide whether or not to produce a business plan: he assumed that business plans center around arranging financing. His entire point in not having a business plan for the toy business was that he did not need outside funding, so there was no need for a plan. He did not recognize that a well-written business plan is much more than just a tool for obtaining financing. Instead, a good business plan forces a company to take a detailed look at its operations, its market, financing and many other internal and external factors in order to form both short term and long-term goals and objectives. With a good business plan, all members of an organization understand what the company is trying to achieve and can work toward a common goal. When the goals and objectives are not written down, it becomes much more difficult to communicate the vision of the company effectively to all parties.The publishing business might be ongoing and even thriving today if Rodrigues had a business plan for his operation. The problem that Rodrigues had was that advertising revenue dropped by one-quarter as generic prescriptions became increasingly populart. Driven by health management organizations and cost-conscious insurance companies, doctors have shifted their prescribing strategies from discrete (branded) pharmaceuticals to the generic drugs. As a result of this, the advertising from major dru
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Alan and Dave as the primary employees of the organization.
It is this focus which has determined the course that the company has taken. If Alan and Michelle were motivated from the beginning to become entrepreneurs, their business plan might well have been more ambitious, requiring outside financing on a much greater scale than their actual plan required, and which would have involved them having "real" offices rather than working out of their bedroom and then their garage. The fact that they started the business merely to continue to make a living placed constraints on the planning process which would not have been present if they were true entrepreneurs.
Another factor which has kept the company small is that Voice and Data has neither a dedicated professional manager nor a dedicated marketing/sales professional. While Alan may well have the technical expertise required to make the products successful, and while Dave may be able to bring customers to the company from his own network of contacts, no concerted effort has yet been made to court customers on a widespread basis. This is due in part to the lack of a marketing professional who could develop such a program, but also to the fact that the company is severely limite
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Approximate Word count = 5694
Approximate Pages = 23 (250 words per page)
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