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SUSTAINABLE TOURISM ENTERPRISE DEVELOPMENT
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Building a new business is hard work. The US Small Business Administration reports that 50% of new businesses disappear by their fifth year of operation. New businesses fail for a variety of reasons from lack of access to capital to poor management to insufficient linkages to markets. Yet there is one step, which should be the first step, that helps to address many of these issues and that is to develop a comprehensive business plan.
A good business plan analyzes opportunities and demand for products and services, sizes up competition, reveals competitive advantages, identifies target markets and strategies to reach them, and presents a clear financial picture of both revenue and expenses.
Some may argue that business planning is a waste of precious time, an academic exercise to create a document that will collect dust on a shelf somewhere. But shrewd investors and smart project managers know that the business planning process forces an entrepreneur to analyze all market forces that determine success or failure of a business concept, tests assumptions, and requires that they articulate their plans in a clear, concise, and intriguing manner.
International Cooperation for Development - Organizational Body
NONE
Management
English
2000
1-137
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