This is and idea solution not 100% solution. Do not copy. Make
your own solutions.
Ahmed wants to purchase a departmental store from one of his family friends.
Ahmed does not think he needs to write a business plan because it is a running
business. Do you agree or disagree with his opinion? Why or why not?
I disagree with his opinion. He has to write a new business plan. The reasons are as
following.
Existing plan was not prepared by Ahmad and it's old also so there can be many aspects that he would like to change. Business plan must be re-written with updates. Strategies of running business operations, market situation must be analyzed and operations of business must be reviewed, significant and needed changes must be made. Relationship with Suppliers may not be good so he have to make new policies and new terms of credit and payment with the suppliers. Management structure would be changed to make the business more efficient. Customer relationship and satisfaction level may not be much good or developed so Ahmad must include these all aspects in his own business plan.
Existing personnel may be not experienced and relationship with them may be conflicting so he will have to make strategies for hiring new workers, their pays timing must be specified. Sources of finance, Ahmad have to identify and specify his sources of finance from he can get financial assistance and they will be different from his friend's sources. Profit expectations of Ahmad may be different from his friend so strategies for profit maximization must be explained in his own business plan. So there may be so many changes that the existing business plan has to be replaced with new plan.
Or
Yes I agree with the statement. As it is a running business and Ahmad's family friend's
business on whom Ahmad can trust so it's not necessary to make a new business plan. Reasons can be Plan is already in operation and if you will implement a new business plan it will disturb the routine of the business. And it will take time to develop a new plan and then implementation will also take time this will effect the operations, cash flows of business. The customers and employees are also there and when you implement the new plan they may not like it in this way you can lose existing customers and personnel, losing experienced workers can be a big loss. Relationship with suppliers, and finance providers is already developed and in operation if you implement the new plan it will take time to rebuild the relations with suppliers and financial assistance providers.
So due to these reasons Ahmad must run business with existing plan.
On Sat, Jan 29, 2011 at 6:28 PM, mc080402223 Safia Khatoon <mc080402223@vu.edu.pk> wrote:
Does anyone have the solution of the mentioned GDB question?
"Ahmed wants to purchase a departmental store from one of his family
friends. Ahmed does not think he needs to write a business plan
because it is a running business. Do you agree or disagree with his
opinion? Why or why not? "
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█▓▒░ Hafiz Salman Majeed░▒▓█
| MBA -III (Finance Group) |
LAHORE
اللہ آپ کو آسانیاں عطا فرمائے۔
جزاكم الله خيرا وأحسن الجزاء في الدنيا والأخرة
جہاں رہیے اللہ کے بندوں کے لیے باعثِ آزار نہیں، باعثِ رحمت بن کر رہیے
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