Business Plan to Enter the Global Marketplace
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Companies which have a successful domestic operation may well consider entering the global market in order to expand their revenue stream and improve their profitability. Entering the global market is considerably different than entering a new market within the United States, however, and companies who undertake global marketing should have a specific business plan covering that aspect of their business. In fact, the most useful business plans are those which integrate domestic and international operations (recognizing that resources must now be shared among the two parts of the company) and which bring together factors such as the entry strategy, production plan, finance considerations, marketing, human resources, general management and government relations. This research examines the major sections of such a business plan and outlines the steps required to develop the plan.The business plan can be the most important document that a business produces since it can contain the strategy for the company's long-term success. Business plans are used by creditors and potential customers to judge the company's strategy, and can be used by potential employees to determine whether or not they want to join the organization. Beyond their use to outside stakeholders, business plans provide the blueprint by which a company conducts its operations. Encompassing all major aspects of a company's business, the business plan helps reinforce t
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It is important to form the foundation for the balanced scorecard early in the business plan process so that the plan itself can be developed with this framework in mind.
The production plan is a detailed examination of how a manufacturing company will produce its inventory, including plant locations, layouts and equipment required. Service companies do not required as detailed a production plan as their manufacturing counterparts, but they do need to include a section in the business plan of how the service will be delivered to customers, and note equipment that may be required to support their operations.
The financial plan includes pro forma financial statements for several years (typically five years), and details the sources of capital. Thus the financial plan will indicate the various types of financing (debt and equity) which will be obtained, and the cost of that financing as well as likely sources.
The marketing plan is one of the most critical aspects of the business plan. It is in this section that the company clearly identifies the marketing mix (product, distribution strategy, promotion and pricing strategy) and includes a detailed plan of the marketing calendar (including what types of advertising, and at wha
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Some common words found in the essay are:
Business Plan, Introduction Companies, business plan, business plans, sections business plan, production plan, entry strategy, sections business, mission statement, financial plan, balanced scorecard, major sections business, plan include, major sections, section business plan, business plan business, plan section company,
Approximate Word count = 1247
Approximate Pages = 5 (250 words per page)
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