Support the closing statements of your business plan with facts, data and statistics. Potential investors want proof that your business can succeed and that they can get a return on investment. Add facts such as your growth history of this or other businesses or the data you used to determine how much financing you need. This information is more convincing than vague assumptions or statements. A business plan is an official document that describes the goals of a new or existing business and how the organization intends to achieve them. Each business plan contains a conclusion that describes its key points and the strengths of the company. An effective business plan conclusion should convince the person reading it that the business will succeed. In this article, we explain how to write the conclusion of a business plan and give an example. The closing tone of your business plan should be professional and positive. You want to show your optimism and enthusiasm for the company`s success and make the reader feel interested or enthusiastic about supporting the organization. Use strong, active language that shows your confidence in the company. The current economic situation in most countries is very volatile.
And it`s relevant for all businesses, large and small. However, the presence of the free market has also been of great benefit to businesses. Because the global economy is volatile, most large companies should be wary of its effects at all times. From the political climate of the company`s geography to the international relations it maintains, all aspects of politics influence a company. Many countries have laws that facilitate certain businesses, others have laws that restrict businesses. The state of local politics and their relations with other countries have a major influence on the business situation. At the end of your conclusion, write a short call to action that tells the reader what to do next. It is designed to inspire the reader to support the company`s goals in the desired way.
For example, you might end up with «Join us as a minority shareholder of WinTec Enterprises» or «Invest in the success of Harper Corp.» Use action words in your call to action and emphasize how this step can benefit the reader. There are two types of primary factors that we will study, internal and external factors. These factors define the business environment in the most understandable way. The world is currently going through an environmental crisis. As a result, all companies are expected to adhere to a process that does the least possible to harm the environment. Certain environmental conditions in certain areas also have an impact on businesses. For example, a cold season could reduce agricultural activity, but it will boost tourism. Follow these steps when writing the conclusion of a business plan: Technology is one of the main drivers in today`s world. Companies that are unable to keep up with current technological advances are struggling to establish their existence. And companies that use technology to their advantage are ahead of their competitors. IT itself has become a leading company in recent decades. When you create a business plan for an established company to track progress or share information with third parties, you can choose a more traditional place for your conclusion at the end of the document.
The purpose of your conclusion in this scenario is to examine and highlight the strengths of the business. The impact of different internal and external factors on companies is quite complex. They may seem like a small factor at this point, but they have a bigger impact overall, or vice versa. The business environment is very important for an organization that helps the company identify opportunities and gain the first-come advantage. In addition, it can also improve the performance of an organization. Companies that constantly monitor their environment and adopt appropriate business practices are those that not only improve their current performance, but also succeed in the market over a longer period of time. Understanding the environment helps an organization improve its image by showing its sensitivity to the environment in which it works. With rapid changes in technology and various social factors, the current business landscape is very dynamic. This makes defining a business environment very difficult. Established companies can include information in their conclusions, such as: BMW has a very strong brand image and is known for its reputation in the world. However, the threat of substitutes may come from the production of major car manufacturers and sports bike companies. The threat could just as easily come from the government, which is aware of fuel emissions and environmental issues.
It encourages citizens to use public transport and reduce traffic problems. It is positioned in the range of exclusive vehicles, where there are many replacement products for BMW such as Mercedes and Toyota. Thus, the threat of bmw`s replacement is average. According to the Business Dictionary, «The combination of internal and external factors that influence a company`s operational situation. The business environment may include factors such as: customers and suppliers; its competitors and owners; improving technology; laws and government activities; and market, social and economic trends». As I mentioned in the SWOT analysis, BMW has great opportunities to develop hybrid cars. Nowadays, the greenhouse effect is becoming serious and these are warning people to save the earth. People are starting to care about the environment and they have sought to act. One of the measures they are taking is the use of hybrid cars. There are still great entry opportunities for the automotive industry. This is because there are even fewer companies developing this product in Malaysia.
There are only two brands that have hybrid cars in Malaysia, namely Toyota and Honda. Although BMW already produces hybrid cars, which are BMW ActiveHybrid 3, BMW ActiveHybrid 5 and BMW ActiveHybrid 7, they can produce more hybrid cars in the future. HR is a fairly new concept that has flooded the business world. With the size of companies growing every day, the management of employees at the micro level is taken care of by the human resources department. Therefore, it plays an important role in defining the business environment. A summary is meant to encourage some to keep reading, while the conclusion is meant to convince someone to take action, for example, .B invest money in the business. The environmental factors that BMW has to go through are the focus on recycling and waste reduction. The new trend in environmental issues is leading to customer preferences for new car concepts such as eco-friendly cars and hybrid cars. As global warming increases, people are more responsible and concerned about car buying choices, preferring eco-friendly cars with little imitation. After writing the conclusion of your business plan, read it to make sure it contains accurate spelling, grammar, and punctuation.
You want it to be clear, concise and easy to use. Ask a friend or colleague who isn`t familiar with your company`s goals to read it as well. Ask them if the conclusion is easy to understand and if they feel any excitement or interest after reading. Then, make improvements as needed. Economic factors related to exchange rates, global economic growth and the prevailing business environment in the industry. The financial crisis is reducing consumers` disposable income. If the interest rate becomes high, it will affect BMW and other automotive companies sales and profits. This means that if interest rates are high, the customer will not buy a new car and invest money.
One of the important points is unemployment, if people do not do work, they will not buy luxury cars, and it is not good for the automotive industry. In addition, during the inflationary period, when the price of gasoline has increased, as well as the price of the derivative product, will also increase, which will affect the sales and profits of the automotive industry. There are laws for companies in every country in the world and every company must comply with these laws. Therefore, regulation is a major factor that every company must take into account in its external environment. But there are also regulations that help businesses succeed. The summary provides an overview of what the plan will be, while the conclusion reviews what the plan discussed. It is essentially the functional process of the company and how value is assessed in a company. A company`s value framework defines how its employees fulfill their roles.
And how their work culture is regulated. Companies` responses to the «green» environment appear to be at a «tipping point,» with successive estimates of the severity of the problem suggesting «sooner» and «worse.» There are many examples of enlightened behavior, but the degree of adaptation achieved is more like a reduction in the rate of acceleration than an actual step on the brakes. Each company has its own requirements and decisions. These shape regional business personalities and are one of the main external factors for all companies around the world. For example, let`s look at the current trend towards a Western way of life around the world. This has led to an increase in demand for Western food and fashion. The strategy is about the direction in which the organization operates, the means to achieve objective and competitive advantages, to satisfy the needs of stakeholders and to respond to the environment. .