- Writing a Business Plan
- Financial Statements
- Business Forecasting
- Business Checklist
MANAGEMENT & HUMAN RESOURCES of the Business Plan
(The Internet Company)
Background of Management & The Internet Company:
The owner and founder of The Internet Company, Brian P. Smith, graduated with a Bachelor's Degree in Commerce from the University of Mississippi. Following graduation, he decided to develop a business plan around a concept which had been germinating during his university years; however, upon completion of the business plan, he discovered the venture would not prove economically feasible in a global market. This experience proved invaluable. It demonstrated the importance of developing a detailed business plan encompassing the essential elements of operational planning, market research, test marketing, and financial forecasting to name a few.
When conducting his market research for the product, Smith became acquainted with various non-profit organizations and government agencies which supported economic development initiatives.
This eventually lead him into a position as Programs Manager for several Job Development and Job Re-Entry Programs. While working in this capacity he gained further exposure to both federal and state programs. In addition, he developed his training and organizational skills by instructing Trainees in areas such as computer applications, strategic planning, community economic development, and business planning. He also found himself developing forecasting sales models and accounting systems for independent companies.
In March 200X, Human Resource Development (HRD) contracted Smith to provide forty-eight (48) weeks of classroom training and personal consultation in the areas of business plan creation, business theory & operations, strategic planning, human resource management, computer applications, marketing & promotions, financial forecasting and accounting.
During this period, Smith began to develop an automated training module on self-directed entrepreneurship. The training methodology focused on an interactive software package which interacts with a personal computer. The software package uses the latest in computer technology to organize data allowing for instant information transfer.
His primary intention was to use the software as a training devise in a class-room setting; however, further examination determined that potential entrepreneurs could use the information in their own homes (anytime of the day or night) to acquire the requisite skills needed to own and operate their own business. In essence, by using this method, time is not required in a traditional class-room setting, allowing for independent, self-directed learning.
Smith took the software information one step further by allowing interaction through the Internet. It is for this reason that he is applying for financing. The Internet access is anticipated to prove extremely successful since the information is free to all users anywhere in the world. In addition, the Internet is growing at such a rapid rate (10% per year) with over 70-80 million people currently connected.
As you can see, management has spent a great deal of time in entrepreneurship and in the developing the business training information (the product). With Smith's education, experience and determination, the success of this endeavor would seem inevitable. For additional information on Smith's qualifications, please refer to the Curriculum Vitae located in the appendix. The following section outlines the responsibilities and duties of management.
Responsibilities of Management:
Smith will oversee all functional areas of the organization and will be responsible for training and supervising all staff members. In addition, he is responsible for maintaining the integrity of the business training information as well as developing new and exciting products to compliment the corporate Web Site. As indicated in the forecasted financial statements, Management will receive a salary of $15,600 in 200X and a salary of $20,800 in 200Y.
Now lets examine the Human Resource Requirements for the company.
One staff member, Carey Philips, is currently employed by the company and has been since July of 200W. His responsibilities initially are to research assigned topics and develop hard copy reports on his findings.
As the business training information database reaches its completion, Philips will have an additional responsibility of soliciting corporate sponsors. In order for the company to gain further experience and grow slowly management has suggested that sponsorship begin on a local level and eventually filter through to a national and international plane.
Philips has graduated from "The Business College" and has completed an extensive Entrepreneurship Training Program. Upon completing his Entrepreneurship training, Phillips established a business venture called "Business As A Career" which is a publication focusing on entrepreneurship and its importance. His experience in business, namely; publishing and soliciting advertisers (sponsors) has and will continue to prove advantageous to The Internet Company. Phillips will receive a salary of $19,200 in 200X and $26,000 in 200Y.
In February of 200X, the company will hire a Internet Specialist. The duties and responsibilities of this individual will include;
Management has been in contact with several Internet specialists, many of which, have the education and experience required. In other words, filling this position, although extremely technical, will not prove to be a difficult task. As indicated in the forecasted financial statements, the Internet specialist will receive a salary of $19,200 in 200X and $26,000 in 200Y.
This concludes the management and staffing section of the business plan.