BUSINESS PLANS AND LOCATION DECISIONS

The future of any business relies mostly on the strength of the business plan and strategy. This lesson intend to create a detailed understanding of the concept of business planning and location decision with the specific objectives.

About this Course

The future of any business relies mostly on the strength of the business plan and strategy. A business plan is a document that contains perfectly outlaid business target and step by step process of actualizing such target taking income account possible gain and loss of such initiative, duration of each process and resources needed to achieve each phase of the business.
Inherently business plans are strategic, the intention is to start a business here, today, combining possible resources that are available both material and human resources to get certain point in the future within three to five years at which the business must have grown and gathered more resources with higher potentials to make more profit and be more stable with increased asset. The plan shows how to pilot such business idea to that desired point of profitability and stability.

Another important factor that determines the success of every business is the business location decisions. The business operational costs of business and their ability to generate revenue are also related to where such businesses are located. Interestingly, in most cases, business location decisions are not usually flexible. This is because, once a decision is made and the business is sited, it becomes difficult and costly to change. The operational costs of moving to a new location are usually significant with most likely risk of staff and customer inconvenience. It is vital and always advisable to best to get the location decision right first time.
This lesson intend to create a detailed understanding of the concept of business planning and location decision with the specific objective thus:

Learning Objectives
At the end of this lesson, students should be able to:

1. understand the concept of business and business idea and business plan
2. draft a structured and strategic business plan and effectively make business location decisions