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le Home Insert Draw Design Layout References Mailings Review View Help Searc Be carefulfiles from the Internet can contain viruses. Unless you need to edit, PROTECTED VIEW Enabl it's safer to stay in Protected View. 112:111:111:111121131141151161171181191 | 10 | 11 | 12 | 13 | 14 | 15 16 | 17 | 18 Scenario 1 Imagine you have just bought an existing business (it could be a takeaway shop, service- hairdressing, childcare, plumbing or any other small business.) in an exciting location. Your plan is to restructure the business entirely and start with a fresh new set up. The available capital with you is limited, so you have decided to go for a business loan. While applying for a bank loan, the bank manager has asked a business plan. Now, you have to prepare a structured business plan to achieve your goal. a. Start preparing a miniature business plan which will eventually help to design a full business plan. Use the following points; b. A short description of your business (size, location, staffing and key operations) 1) Based on the case study, Please explain to student a short description of business (Eg. Hair Dressing) How was it formed? Who formed it and why? Why it will be successful? 2) Review and make changes to previous owner's plan 3) Changes to be made -Identify mission, vision, and goals of business 4) Market information, competitor's activity and a brief marketing/promotional plan Gateway Business College LICTICT604 Identify and implement business innovation V1 May 2019 Page 11 of 16 5) Discuss the ways in which the organisation can communicate the plan and the implementation strategies to the stakeholders. The students may use a communication plan template (mention 5 different stakeholders) as below, How (method) Who What (stakeholder) (message) When (date and time) Communicator (who is delivering the message) Within 1 week Supervisor Tim Bank manager Request for additional funding or overdraft facility Face to face with substantial documents 6) Once the business plan is operational, it is important to know the measures that you have implemented are effective and monitor the performance successfully