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3 pages/≈825 words
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APA
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Business & Marketing
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English (U.S.)
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Topic:

Business Plans Essay (Essay Sample)

Instructions:

First, go through the following tutorials. There are a lot of them, but they are fairly short and should give you a good introduction to the topics of this module:

Origin of business ideas. (2014). Pearson Learning Solutions. New York, NY.

Decision making and SWOT analysis. (2014). Pearson Learning Solutions. New York, NY.

Competitive analysis of business. (2014). Pearson Learning Solutions. New York, NY.

Market segmentation. (2014). Pearson Learning Solutions. New York, NY.

The following book chapters will give you a more detailed look at these important topics:

Finch, B. (2013). Chapter 4: The market. Creating Success, Volume 35: How to Write a Business Plan (4th Edition). London, GBR: Kogan Page. [Ebrary]

Friend, G. &  Zehle, S. (2004). Chapter 9: SWOT analysis. Guide to Business Planning. Profile Books, London [Ebrary]

Srivastav, R. P. S. (2007). Chapter 4: Business opportunities. Entrepreneurship Development and Production Management. Himalaya Publishing House, Mumbai, IND [Ebrary]

There are many other books on this topic in Ebrary if you need more ideas for your assignments. Several more books that may be useful are listed under Optional Reading.

Required Case Assignment Reading

Bangs, D. (2002). Financing proposal for Finestkind Seafoods, Inc. Business Planning Guide: Creating a Winning Plan for Success. Dearborn Trade, Chicago, pp. 149-155 [Ebrary]

Bangs, D. (2002). World Beat Tours business plan. Business Planning Guide: Creating a Winning Plan for Success. Dearborn Trade, Chicago, pp. 175-180 [Ebrary]

Aulet, B. (2013). Step 0: Getting started. Disciplined Entrepreneurship: 24 Steps to a Successful Startup. Somerset, NJ, USA [Ebrary]

Seifert, R., Leleux, B., & Tucci, C. (2008) Chapter 1: Opportunity recognition. Nurturing Science-based Ventures: An International Case Perspective. Springer, London, pp. 1-10. [Ebrary]

Morris, M. (2012). Chapter 4: Business ideas – creation and valuation. Practical Guide to Entrepreneurship: How to Turn an Idea into a Profitable Business. Kogan Page Ltd., London 

source..
Content:

Business Plans
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In the case the Finestkind Seafoods, there is a striking are a number of competitive advantages that could help the business rise with the market. Having a competitive advantage is crucial especially in light of the competition and the likelihood of being overrun in the market and losing the market share. One of the main competitive advantages that the company can leverage and win over the market shares owned by the rest of the companies in the industry is the ability to offer fresh products (Bangs, 2002a). The company buys its fish products from the docks while they are still fresh. Having the ability to supply to the customers in the market, whether they are retailers or wholesalers is crucial to the reputation of the company. Competitors such as Kingfisher and Ferd's fish do not offer such freshness to their customers and timely delivery (Competitive analysis of business, 2014).
To maintain this trend the company pays a premium to the suppliers and has formed a formidable relation with them. The company also benefits from the fact that it has formed a formidable relation with customers relative to timely delivery, unlike companies such as Fred's fish. The company by extension has also managed to get international markets, where they have the opportunity to sell to countries such as Poland, Germany, Turkey and Belgium, with an added advantage of limited risks (Bangs, 2002a). This presents a major advantage relative to the fact that, the company has a chance to grow within the local market and expand rapidly through the international markets, turning global.
In the case of World Beat Music Tours (WBMT) there is one major competitive advantage that will help the company stand out in the industry and more so against the competition. Unlike the festival organizers and the travel agencies, the company will help the clients book their tickets and make all the prior arrangements for the clients (Bangs, 2002b). This means that the clients will not have to be shuffled between event organizers and tour operators. As such the client is assured to be attended by one entity, where they can check on the various events, make payments and reservations all on one existing platform, other than having to be redirected from one party to the next inflating bills and the frustration due to bureaucracy. This is crucial as it reduces the amount of time and effort vested in booking for concerts an...
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