This subject will give you an understanding of how to research, develop and implement a business plan for a digital business model.
A business plan is a document that highlights and explains the future goals and projections of a business. It is a written record that describes the business, its products or services, how it plans to earn a profit, and many other success factors. It includes market research, financial and contingency plans, and it can help derive funding or capital to help get your business off the ground.
For budding entrepreneurs, the act of researching and planning helps you to think things through clearly, fill in any knowledge gaps, and critically evaluate their business ideas before implementing them. Developing a business plan can be a tedious process, but it is one of the most important things a business owner can do for their business. It creates a plan of action to get them started, it provides an understanding of required resources and overheads, it outlines customer needs, risk management contingencies, and can help to avoid costly mistakes in the future.
In this subject, the following elements will be researched and implemented as part of an overall business plan for a digital business:
- Forecast and evaluation of an international market
- Risk management process and contingency plans
- Budget and financial plan for one reporting period
- Teacher: Angelo Gagani
- Teacher: Loretta Hofer
- Teacher: Danny McGuire