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Mission Statement: Many companies have a brief mission statement, usually in 30 words or fewer, explaining their reason for being and their guiding principles. If you want to draft a mission statement, this is a good place to put it in the plan, followed by:
Company Goals and Objectives: Goals are destinations where you want your business to be. Objectives are progress markers along the way to goal achievement.
For example, a goal might be to have a healthy, successful company that is a leader in customer service and that has a loyal customer following. Objectives might be annual sales targets and some specific measures of customer satisfaction.
Business Philosophy. What is important to you in business?
To whom will you market your products? (State it briefty here--you will do a more thorough explanation in the Marketing Plan section).
Describe your industry. Is it a growth industry? What changes do you foresee in the industry, short term and long term? How will your company be poised to take advantage of them?
Describe your most important company strengths and core competencies. What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture?
The Description of the Business should enable a reader to become familiar with the business including gaining a detailed understanding of the product and or service that will be provided. Remember to explain what the product and/or service does for customers, as all successful businesses are customer-driven.
The goals and objectives of the business should be indicated and, if an existing business, a summary of the history of the business should be included. Some of the key questions that need to be addressed are:
- What type of business is this (retail, wholesale, service, or manufacturing)?
- Is the business a start-up, an expansion of an existing
- retailing refers to trading activities undertaken by licensed retailers, that is, those who are
registered for sales tax, income tax, etc.
These include the coronate-
stores. Western-style malls have begun appeanng in metros and second-rung attes alike, introducing the Indian consumer to an
unparalleled shopping experience. The Indian retail sector is highly fragmented with 97 per cent of its business being run by the unorganized retailers like the traditional family run stores and corner stores. The organized retail however is at a very nascent stage though attempts are being made to increase its proportion to 9-10 per cent by the year 2010 bringing in a huge opportunity for prospective new players. The sector is the largest source of employment after agriculture, and has deep penetration into rural India generating more than 10 per cent