The Dynamics Of A Business Plan By Diana Nelson

1082 Words null Page
A business plan is a written document or a statement that states the goals of the companies and the progress of how the goals are going to be accomplished. Plan of activities includes the why, what and when questions to come up with a solid plan that will turn into a business (Salman, 2008).
Plan of activities serves the following purpose: (1) it acts a directive, plan of activities helps in identifying how far you want to take the business and you achievement at the end, (2) business plan gives principles and structures to your idea, which ensures that all the components are included in the business,(3) it helps one to have perspective of the future, a business plan helps one to know what to do, when the business has picked up and how to deal
…show more content…
A well-established business plan is important to any startup business but to have long term serving business one must have a clear understanding of the dynamics that exist in the business that they tend to establish. Understanding the following dynamics that exist in Toy industry would have help Diana Nelson to enjoy a long lasting business operational and remains in the competitive market:
The changing technology consumers expect a change in the make of products with the changing technology. Currently, children between the ages of four to twelve years prefer iPad and tablets to toys, this poses major challenge to the Toy industries especially Kazoo. Finding out ways to improve the products with changing technology would guarantee Kazoo 's store serving a long term and would exist as a competitive store. Diana would have developed applications for iPad and tablets to keep the clients and adapt with the changing technology and serve the need of the customers that were attracted to their products and would make them outstanding over other stores such as Walmart (Rajagopal,

Related Documents