Individual Section Development Exercise #3Document Transcript
Individual Section Development exercise # 3
When we launch a company, we will need documents which are made carefully. The basic information of our
company or how we are going to run our company by using what kinds of strategies in the future are described
in these documents. We will use the article when we develop business plan because we do not understand
how to write such important documents. Moreover, after we have made the documents in which our business
plan is described, we may modify the documents if we need to do. We think that the article will help us modify
the documents because we can find errors that we are likely to overlook.
・To know why we should write a business plan. we can reconsider our ideas in an objective manner and
identify areas of weakness and strength of the ideas.
・The owner of a business should write a business plan. We can use software packages to develop the
business plan or hire consultants who help us formulate the plan.
・Each particular business needs different business plan. However, the basic elements organizing the plan are
the same and there are the 8 elements.
・We should know about the importance of the accounting system. It is a good way for us to ask a specialist to
manage the accounting system because many companies have failed for the accounting problems.
・The documents which show what a business plan state is necessary.
・The article tells the importance of a business plan and suggests how to write a effective business plan.
・In developing a business plan, the article shows some points which are difficult for inexpert to find out.
・The article is organized so that readers can develop a business plan step by step.
・We can find the problems that our company have had and the strength that we may improve in the future by
writing a business plan.
・The article tells that the completed business plan helps us run our company.
A business plan will be needed when we launch a new business because it usually includes many necessary
elements to start our company. First, we can avoid making a loss being in the areas expected not to have a
revenue by investigating the areas where we will be in. Next, we can clarify the image of our company through
the process of organizing the basic information about the company such as the objectives of the company, the
products or services, and the funds. Last, a business plan has the role as a tool to have a lead over the
competition because we can take the results observed in the process of developing a business plan into
consideration for the future business strategy.