NR 533 Week 7 Assignment: Business Plan Assignment | Question 1 and 2 with Answers (Version 2) | Already GRADED A+

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NR 533 Week 7 Assignment: Business Plan Assignment NR 533 Week 7 Discussion Question 1 - Business Plan Discuss the purpose of a business plan. NR 533 Week 7 Discussion Question 2 - 2 Devel... opment of a Business Plan Discuss the influence of the mission of SLMC in the development of the business plan that Debbie must develop. Discuss the purpose of a business plan Dr. Goodman & class, A business plan is a document setting out a business's future objectives & strategies, reasons they are attainable, & plans for reaching them (Finkler, Jones, & Kovner, 2013). “It spells out your purpose, vision & means of operation. This plan is detailed, including how services will be billed, how revenue is produced, & what the financial goals of the business will be” (Nieman,2013). A new clinic will need to have a business plan that projects the growth of a new practice, is detailed to staffing needs, & projects the SWOT analysis to determine if the business plan is achievable & attainable. Business plans describes a marketing plan to reach those financial goals while including the information on vendor payments, staff salaries, & how money will be collected for services (Niem& , 2013). A business plan also serves as your company's resume, explaining your objectives to investors, partners, employees & vendors. A good business plan will give an accurate forecast of the success of any new business which will assist the company & financial investors to determine if the business plan could be approved. References Finkler, S., Jones, C., Kovner, C. (2013). Financial Management for Nurse Managers & Executives, 4th Edition. [Bookshelf Online]. Retrieved from https://online.vitalsource.com/#/books/978-1-4557-0088-2/ Niem& , T. (2013). Do all business plans provide a recipe for success? Finweek, 50–52. Retrieved from http://eds.b.ebscohost.com.proxy.chamberlain.edu. Discuss the influence of the mission of SLMC in the development of the business plan that Debbie must develop. Dr. Goodman & class, A business plan should be created based on the mission of an organization” the mission statement is beneficial because it forces the organization to concentrate on what it knows how to do, allows growth & diversification & should be defined in such a way as to prevent the organization from exceeding its manageable boundaries but to encourage exploration within those boundaries (Finkler, Jones & Kovner, 2013). Through the creation of a mission statement an owner will be able to articulate the business they are trying to create. It is important to start by describing the company product or service in a business plan, as well as include why or how the product is different from other businesses. The mission statement should state its purpose & drive its collective efforts as well as being short & to the point (MacLeod, 2016). This is key when potential investors are looking at the business & deciding whether or not it will be a worthwhile & profitable investment to make. Next, it is important to analyze the market that the owner is attempting to enter. The owner must be able to compete in the market & they must be able to secure a market share & fit into the industry. This will also help in the development of a marketing plan & how it will be presented to consumers. Reference Finkler, S., Jones, C., Kovner, C. (2013). Financial Management for Nurse Managers & Executives, 4th Edition. [Bookshelf Online]. Retrieved from https://online.vitalsource.com/#/books/978-1-4557-0088-2/ MacLeod, L. (2016). Mission, Vision & Values Statement: The Physician Leaders Role. Physician Leadership Journal, 3(5), 18. Retrieved from http://eds.b.ebscohost.com.proxy.chamberlain.edu. [Show More]

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