The paper "Business Strategies for Discount Pharmacy and Dollar Store" is an outstanding example of a management report. A business plan can be defined as a document describing comprehensively how a startup investment is likely to attain its goals. A business plan lays out written plans starting from the sales and marketing, fiscal, and operational standpoint. From time to time, business plans are prepared for reputable businesses that would be moving in new directions (Eric et al. , 1993) A business plan entails a depiction of the organizations or small enterprises, their service and/or product, and how these organizations are meant to attain their goals.
A business plan entails an inclusive budget, present-day and anticipated financing, market analysis as well as its marketing stratagem. In the context of the business planning, the business owners project returns and expenditures for a particular time interval and give a description of operational activities and expenses associated with the businesses (Eric et al. , 1993). This document is an individual written report based on two business plans. The business plans were to be selected from three websites and were analyzed as well as evaluated.
The three websites from which the two business plans were to be gotten from were ttp: //www. businessplanarchive. org, http: //www. bplans. com, and http: //www. businessplans. org. However, we used two business plans from the http: //www. businessplans. org website. Then a description in regard to the two business plans was considered and thus included in this document. The two business plans that were selected are the Discount Pharmacy and the Dollar store company. We have made some comparisons between the business plans of the abovementioned companies. There are also various contrasts that have been unearthed between these business plans. The document has also identified and explained the strongest aspects of the business plans of these two organizations.
We have identified and explained various weaknesses that exist in each of these business plans. Various improvements have been put forward that need to be implemented on these business plans. There are some challenges that we faced and explanations of how they were overcome. A statement of different lessons learned regarding business plans is also included in this report. During the course of writing this report, we faced many challenges but we managed to overcome them since we developed some skills which have been included in the report.
The main motive of coming up with business plans is to give the business proprietors more clear picture of the possible expenses and shortcomings to particular commercial decisions and helps them revise carefully before the implementation of these concepts takes place (Eric et al. , 1993). The first business plan: Discount Pharmacy The Discount Pharmacy business plan starts by stating the major goals of the company. The company will be providing treatments to its clients at a very low price compared to its competitors.
The company will be selling medications at a reduced price through careful sustenance of efficiency in its normal operation and through the targeting of particular segments within the market - those clients who will be paying for their medication on their own. The business plan highlights the essence of their concentration on these segments since they give the company extra competencies – the company will be avoiding any potential disruption within the cash flow usually related to the insurance payments and the company has the ability to eliminate superfluous services for the sort of conversant, repeat client taking maintenance-type medications (Bplans, 2014a).
Bplans. (2014a). Pharmacy business plan. Retrieved from
Bplans. (2014b). Retail business store. Retrieved from
Eric, S., Brian, R., Jay, M. (1993). The Ernst & Young Business Plan Guide. New York: John
Wiley and Sons