Overview of the Companies
Business plans are highly significant and helpful in the process of maintaining an organizational growth and to analyze the effective strategies that are to be taken up in order to ensure efficient functioning of the organization. In addition to this, it has been monitored that an effective business plan is helpful in order to identify the target market and decide the effective strategies that are to be employed in order to ensure long time sustenance (Scarborough, 2016, p. 48). Moreover, it has been monitored that a successful business plan acts as an important tool that helps the entrepreneurs to identify and analyze the steps that are to be taken up in order to support the entire process.
Hence, it can be understood that in order to ensure the strategic implementations and gaining a more cohesive vision. The present report hence will focus on two different business plans and the differences of strategy and planning of these two organizations.
Overview of the Companies
Blueprints Business Planning Pty Ltd is an entrepreneurial venture that has been initiated by three shareholders of the organization. The organization, which is aiming at serving the client companies and the managers with efficient business plans, has been started by three directors (Schaper et al., 2014, p. 198). In addition to this, as the company is in its initial stages, the directors have decided to start the venture with very nominal resources and funding (Ward, 2016, p. 30).
In this regard, it is to be mentioned that the organization aims at providing the clients with not only the business plans, but it will also be helping entrepreneurs to with market analysis, designing effective strategies as well as advertising. In this regard, it can easily be understood that Blueprints Business Planning Pty Ltd is aiming at becoming a one-stop solution for the blooming entrepreneurial ventures (Baker, 2014, p. 42). In addition to this, it can also be understood that Blueprints Business Planning Pty Ltd is aiming at the growing market in the metropolitan area of Sydney.
In comparison to this, Pioneer Consulting is an entrepreneurial venture that has been created keeping in order to serve the organizations with multiple financial solutions. In addition to this, the organization is also aiming at providing various marketing solutions to the small and medium scale industries (Burns, 2016, p. 26). In this regard, it is also to be mentioned that the organization is also aiming at becoming a result-driven marketing firm that will ensure effective solutions by analysing the market. Hence, it can be understood that the organization is aiming at emerging as a complete solution for the financial planning and marketing strategies of the organizations.
Marketing strategy
In order to analyze the marketing strategies that has been implemented by the organization, it can be said that the Blueprints Business Planning Pty Ltd is aiming at capturing the blooming market of Sydney. To elaborate it furthermore, it can be said that as per the present scenario the Australian market is emerging as one of the major filed of huge industrial expansion (Boons and Lüdeke-Freund, 2013, p. 11).
Marketing Strategy
It can be said that as a result of the growing economy, the country is likely to witness industrial revolution. Blueprints Business Planning Pty Ltd hence aims at grabbing the opportunity and emerging as a leading organization in this sector. Hence, the primary marketing strategy that Blueprints Business Planning Pty Ltd has adopted is grabbing the attention of the small scale and budding organizations that are in their very initial stages.
In this regard, the services that the organization is aiming at providing are to be analysed:
- The primary focus of Blueprints Business Planning Pty Ltd will be providing the entrepreneurial ventures with efficient business plans (Schaper et al., 2014, p. 200). It has been monitored that leaders and managers of small and new organizations are often in need of advices and proper planning in order to decide their future action plans (Grant, 2016, p. 25). In this regard, it can be said that Blueprints Business Planning Pty Ltd will be helping these organizations with effective solutions.
- Another important aspect of the organization is that it will also help the clients with effective marketing as well as advertising strategies. In this regard, it is also to be mentioned that the organization will also be helping the clients with proper and effective market analysis (Renz, 2016, p. 29). Hence, it can be understood that Blueprints Business Planning Pty Ltd is also aiming at emerging as one of the leading organizations that will be helpful in ensuring long term sustenance of the organization.
- Blueprints Business Planning Pty Ltd will also be arranging training and developmental programs for the employees as well as the leaders of an organization in order to support their developmental needs (Bender, 2013, p. 17). As the organization is aiming at becoming a one-stop solution for the emerging organizations, it can be understood that the organization is planning to address all aspects of organizational growth and sustenance.
In contrast to this, it can be monitored that Pioneer Consulting is only aiming at providing specified solutions to the financial and marketing needs of their client companies. In this regard, it is also to be mentioned that the organization is aiming at monitoring the present market and analyse the effective marketing strategies for their clients (Nickols, 2016, p. 37). In addition to this, it is also to be monitored that the organization is aiming at grabbing the attention of the medium scale industries. Moreover, it has also been monitored that as their marketing strategy, Pioneer Consulting is only willing at serving those small scale industries that have the capability of availing their service and have a stable financial background.
Operations
It has been monitored that Blueprints Business Planning Pty Ltd is in is initial stages. In order to support their financial needs and the process of setting up the business, the directors of the organization are in favour of taking up cautious steps. It has been monitored that as their primary marketing strategy, the directors have decided upon few strategies as well.
- Blueprints Business Planning Pty Ltd will start operating with a minimum funding and the entire funding, for the time being will be done by the three directors only (Purce, 2014, p. 31). Hence, it can be understood that the organization is aiming at not taking up loans for the initial set up.
- As it can be understood that the Blueprints Business Planning Pty Ltd will start with a very meagre resources and funding, the directors have decided to employ only one member in the initial stages (Bentley, Omer and Sharp, 2013, p. 41). This employee will managing the all the responsibilities and take necessary actions that are required to maintain daily functions.
- An employee will be appointed and in order to support the aim of cost efficiency, the primary set up of the office will be at the home of that employee (Bender, 2013, p. 45). She will be working from her home and handling the responsibilities as the managing director of the organization.
- In order to support the smooth functioning of the organizational activities, the directors have decided to support the business with resources such as telephone and internet connections, stationaries.
In contrast to this, it is to be noticed that the Pioneer Consulting is aiming at setting up their office in a posh are of Sydney. It can hence easily be understood that in order to support their business growth and grab the attention of the client companies, the organization is focusing on building their office in a posh area (Purce, 2014, p. 22). In this regard, it is also to be mentioned that in order to support their business and effective functioning, Pioneer Consulting is aiming at opting for business loan. In addition to this, it is also to be noticed that the organization is also aiming at employing experts to take care of the different sectors
It can easily be understood that the organization will be grab the attention of the clients in a more efficient manner as a result of their strategy of engaging more number of employees, who will be experts of different fields (Schaper et al., 2014, p. 198). It can easily be understood that by appointing more employees, the organization will also be able to manage the day to day functions in a more effective manner.
Financial strategies
It can be understood that the Blueprints Business Planning Pty Ltd is willing to take up cautious approach during the initial stages. As it has been monitored that in order to support their initial organizational functioning, Blueprints Business Planning Pty Ltd have taken up a no loan policy, unless severe changes are required (Renz, 2016, p. 25). In addition to this, it is also to be monitored that the directors of the organization have few more strategies in order to ensure financial stability of Blueprints Business Planning Pty Ltd.
Operations
Initial investment – The three shareholders and directors of Blueprints Business Planning Pty Ltd have decided to make investments of $10,000 in the initial stages.
Minimal Expenses – The organization has also decided to make minimal expenses. In this regard, it can be said that the directors have decided to support the initial functioning from the employee’s home (Grant, 2016, p. 7). By taking up this strategy, the shareholders will be able to eliminate the expenses of maintaining a set up. In addition to this, the Blueprints Business Planning Pty Ltd will also be able do away with the expenses of renting a work space.
Reinvesting Profit Amount – One of the most important strategy that the directors of Blueprints Business Planning Pty Ltd have taken up is the strategy of reinvesting the profit amount that will be obtained in its first year. In addition to this, it has been monitored that the three directors have decided to divide the profit amount that will be gained after clearing the taxes and GSTs (Burns, 2016, p. 41). It can be monitored that they have decided to divide the entire profit amount into four sections. The three directors will be taking up three shares of the profit amount and the fourth amount will be kept and reinvested in the business. It can be understood that by implementing this strategy, the directors will be able to maintain a steady growth of the organization along with ensuring effective functioning.
Competition
In order to analyze and compare the effectiveness of the business plan along with the strategies that are to be implemented, it can be said that an analysis of the existing or potential competition for these two organizations are to be done (Ward, 2016, p. 42). In addition to this, the effective strategies of these two organizations that can be helpful in gaining competitive advantage are also to be analyzed.
It has been noticed that Blueprints Business Planning Pty Ltd is aiming at grabbing the attention of the small scale and emerging industries. In this regard, it is also to be mentioned that in the present context, Australia is emerging as one of the major economies of the world and has become home for budding entrepreneurs (Burns, 2016, p. 33). As a result of this, the potential clients for Blueprints Business Planning Pty Ltd will be high. However, it is also to be mentioned that competition amongst similar industries will also be very high. However, it is also to be noticed that as their organizational strategy,
Blueprints Business Planning Pty Ltd has pointed out towards their strategy of providing cost effective services. Moreover, it is also to be monitored that Pioneer Consulting is aiming at providing their services to the small scale as well as medium scale industries (Grant, 2016, p. 23). Hence, it can be understood that Pioneer Consulting will be more prone towards strong competition. In order to combat with the situation and ensure long term sustenance, the organization has come up with various marketing strategies such as implementing rigorous marketing and advertising campaigns.
In addition to this, it has been monitored that the organization has taken up policies of maintaining cordial relations with the clients. In addition to this, it has been noticed that the leaders of Pioneer Consulting are aiming at marketing through online as well as social media. It can be understood that in the present context the importance and influence of these mediums are highly significant (Renz, 2016, p. 19). In addition to this, Pioneer Consulting has come up with the strategy of featuring the success of their clients in various social sites. According to the managers and leaders of the organization, it will be helpful in gaining competitive advantage and ensure long term sustenance.
Recommendation
In order to achieve significant growth and maintain a steady financial as well as organizational functioning, it can be said that Blueprints Business Planning Pty Ltd needs to consider and implement certain strategies.
- Primary importance is to be given to the process of building effective connection with the client companies. In this regard, the organization needs to implement effective strategies in order to reach to the potential customers. An extensive usage of electronic as well as social medium is to be done in this regard.
- As the organization is aiming at providing multiple services to the client companies, it can be understood that managing all responsibilities and tasks single handedly will be difficult for the employee of Blueprints Business Planning Pty Ltd. In this regard, it can be said that the directors of the organization should consider engaging more experts in order to help the smooth functioning of the entire process.
- Setting up an office is important in order to conduct business meetings. It is understandable that the clients will be apprehensive in dealing with Blueprints Business Planning Pty Ltd. Hence, an office set up is necessary.
Conclusion
In conclusion it can be said that deciding an effective business plan and strategies are highly important in order to gain insight about the organizational goals. In addition to this, it has been noticed that strategies are to be implemented to ensure a steady growth of the organization. These strategies play significant role and help the managers or the leaders of an organization to analyze their market position as well as financial stability. Hence, designing and implementing efficient business plan is highly important.
Reference
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Boons, F. and Lüdeke-Freund, F., 2013. Business models for sustainable innovation: state-of-the-art and steps towards a research agenda. Journal of Cleaner production, 45, pp.9-19.
Burns, P., 2016. Entrepreneurship and small business. Palgrave Macmillan Limited.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Nickols, F., 2016. Strategy, strategic management, strategic planning and strategic thinking. Management Journal, 1(1), pp.4-7.
Purce, J., 2014. The impact of corporate strategy on human resource management. New Perspectives on Human Resource Management (Routledge Revivals), 67.
Renz, D.O., 2016. The Jossey-Bass handbook of nonprofit leadership and management. John Wiley & Sons.
Scarborough, N.M., 2016. Essentials of entrepreneurship and small business management. Pearson.
Schaper, M,.Volery,T,.Weber,P,. & Gibson, B, 2014. Entrepreneurship and Small Business 4th ed.Cornwall: Wiley
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Weinstein, A., 2013. Handbook of market segmentation: Strategic targeting for business and technology firms. Routledge.
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