Preparing Effectiveness of Business Plan

Question: Discuss about the Preparing Effectiveness of Business Plan. Answer: The article, Preparing Effectiveness of Business Plan published by Barringer (2015) provides an in-depth overview about the feasibility analysis and its importance for a business plan and development. Every business organization tends to constitute an effective management team for controlling the entire process of business. The responsibility of the business managers is to motivate the employees at every step by maintaining effective interpersonal communication with them. This particular article states that feasibility analysis is a measure with the help of which a proposed system tends to solve the problem. With the help of feasibility analysis, the organization tends to keep a constant record on whether a business organization is possessed with a management expertise or not. As a result, managers get more data and information regarding the employee performance. Managers play the major role of inspirational factors based on which employees get motivation and encouragement for perfor ming well. In order to run a business successfully, the organization has to maintain a management structure. The responsibility of management is to keep constant control over the entire process of business. Therefore, the persons who are associated with the management team should have some of the major skills. Proper voice modulations, personality, communication skill to interact with different kinds of people are most prominent. In order to make an effective business plan, organization needs to focus on some of the major factors as well apart from competent management team. Management team skill is the ability of an individual or the entire team based on which the team members are motivated for performing a project. The author points out that organizational competencies and business resources are one of the major factors based on which a specific business organization needs to develop a business plan. Business resources include financial resources, technological resources, human resources, physical resources and so on. If one specific company is possessed with those resources, the business experts would be able to expand the entire process of business successfully all over the World. The entire business plan can be executed effectively only when the managers tend to keep a constant control over the entire process of business. Reference List: Barringer, B. 2015. Preparing effective business plans (2nd ed.). Boston: Pearson.