Business Plan For A Business

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All businesses regardless of the size require some sort of organizational structure function properly. Efficiency may be jeopardized if businesses do not create some form of organizational structure. This applies to any company manufacturing or selling a product implementing company policies and key basic operational functions. If I were to start a business, I would include these key components and department in hopes that my business would be successful. Starting with a business plan which is critical when describing your business’s future. A clear description of what you do and how you plan on doing it (Entrepreneur, 2016). Used as a blueprint for planning finance and marketing, a business plan also helps in securing financing to determine whether or not the business is expected to succeed. It is also used to attract key employees, prospect for new business and transact with suppliers. The business plan should be reviewed and revised when necessary in order to keep up with strategic goals and shift as necessary as the business develops. Strategy Identifying the fundamental objectives of the organization though a lens to detect key communication and position issues to assist in meeting the company’s objectives. There are a number of strategies one can rely on that will measure and provide substantial returns. Collaboration and strategic partnerships, aligning your business with other successful businesses. Look for opportunities that complement your business that will foster good relationships. Make sharing a vital part of your business identity which will be meaningful and rewarding. Build authentic relationships with people you believe are influential in your industry. This can gain endorsements for your busine... ... middle of paper ... ...sheets and general ledgers are generated in this department. Along with housing this valuable information comes a risk for breach of security which may become an internal audit issue. In one of the case studies we analyzed, the challenges of cyber security that is on rise. Data breaches have gone up significantly and hackers are coming up with innovative techniques of breaching the data security network. There are several challenges associated with cybersecurity management as there are a multitude of threats arising from various sources. Cybersecurity threat can have different levels of impact on an organization or a business and varies based on the industry type. According to the Securitas USA survey, manufacturing, healthcare and insurance, finance, information, and utilities saw cybersecurity as the topmost threat for their businesses (Securitas USA, 2015).

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