Research A Minimum Of Four Typical Business Plan Models

Introduction to Business Planning
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The management, owners, and investors are guided by business plans acting as the start-ups which later develop through successive stages. The owner of a business draws up a business plan which acts as a means of illuminating every feature of that business. The business plan normally consists of the objectives in prediction and preparation of the growth of the business. CITATION Tim15 \l 1033 (Berry, 2015). The four typical business plan models include, strategic model, growth business plans model, startup model, and internal models. This paper will be comparing and contrasting these four typical business plan models, recounting their strengths and limitations, and finally compare the business plan models to the ones in Apple Merlin before selecting the model for CLC of Electronic Medical Records (EMRs) business plan by giving the rationale for my selection.
The first model is the strategic business plan which gives a sophisticated look at the business goals and the best way to achieve these goals, which then allows the establishment of an initial plan for the business. It should be noted that the structures of this model are varied indiscriminately based on the business idea, most businesses under this model contain five key elements that include the one that states the vision of the business, the mission, identifying and defining the crucial success dynamics, laying out all the strategies for accomplishing the stated goals and objectives of the business, and lastly, the element that provides the schedule for implementing the strategies towards the business goals CITATION Col13 \l 1033 (Colin Haslam, 2013).
One advantage of this model is that it gathers virtually all stages of the business into one big picture while stirring all the people involved in the business to work in unison for the sake of accomplishing the stated business goals. Besides, compared to some models, it is a more pragmatic model that can be used by both bigger and smaller companies in planning for success CITATION Sch16 \l 1033 (Schaltegger, Hansen, & Lüdeke-Freund, 2016). Its limitations include the use of enormous amounts of resources that include financial and time as well as energy to implement.
The second model is the start-up business plan, which, unlike other models, it lays out the steps for establishing a new business from scratch. It contains segments that; describe a company, evaluates the market, an anticipated team of managers in every department, and a description of the products or services that a company will be involved in to do business CITATION Ann18 \l 1033 (Aagaard, 2018). Notably, a start-up business plan, unlike most models has a section that provides the financial analysis through spreadsheets that details varied aspects of finance including statements of financial position, statements of projected cash flows, and statements of projected profits and losses.
Some of the advantages attached to this model emerge from the fact that this model provides financial analysis and projections, which in turn enables a company to stick to its plan in order to achieve success and thus ensuring it is a going concern. Another advantage is its flexibility in ter...