Month: February 2022

The most common method of informing purchasing of material needs is through a purchase requisition. Users may also transmit their needs by phone, by word of mouth or through a computer generated method. Although there are a variety of purchase Read More …

Determining what materials and services to purchase is the first and one of the most crucial steps in the procurement process. Responsibility for this determination varies with the requirement. In many cases, the using department is responsible. For example, Plant Read More …

Your background The proposed business name and the starting date Location of the business Major activities of the business Uniqueness of your product/services What attracted you to this opportunity Explain your plans to exploit the opportunity What are your plans Read More …

The aim of this last component of the business plan is to demonstrate your knowledge of inheritable or potential problems and risks and to show your willingness and ability to face them and deal with them. Relevant questions What are Read More …

The break-even analysis is used to analyze the effect on profits of different costs, volumes, and prices. This analysis shows the level of sales required to support the overhead of the business. The break-even point is that point at which Read More …

In the operational phase of business planning, you will describe the facilities, labour and overheads required to manufacture your propose product(s) or render your proposed services(s). If you are in the manufacturing business, your will explain the manufacturing process for Read More …

In the organizational plan for the business, you will develop policies for staff development and human resource management. This will enable you to achieve the efficient product of goods of effective performance of services. You will present in detail the Read More …

In order to achieve the targeted sales, the way you price your products and/or services matter a lot. Examples of overall marketing strategies include: Market penetration Product development strategy When developing pricing strategy, you have to consider the following factors:- Read More …

A very important part of your market research is the investigation of your potential competitors. When doing this investigation, don’t think of your competitors as ‘enemies’, consider them as a source of information. Look at what your would be competitors Read More …

Market area size and trend Market area : Specify your intended market. In what geographical area is your market to be located? Market size: Once you have identified your market, determine the size of that market. This may be done Read More …