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Question
Define organisational plan? A business can be classified in how many categories?
Answer in Brief
Solution
Organizational plan is a part of the business plan that describes the proposed venture’s form of ownership.
Business can be classified as:
(i) Manufacturing business—making of a tangible product.
(ii) Wholesale business—buying of products in bulk from the manufacturers to be sold in smaller lot to retailers.
(iii) Retail business—selling product directly to the final consumer for final satisfaction.
(iv) Service business—selling intangible such as time or expertise.
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Business Plan - Organizational Plan
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RELATED QUESTIONS
Describe the contents of organizational plan.
Identify the various factors which will help the entrepreneur as well as the potential investor from the organisational plan.
- Long-term effectiveness of the enterprise
- Profitability
- Specifying the types of skills needed and the roles that must be filled by the members
- The attitudes, behaviours, dress, communication styles etc., thus chalking out informal organisation
