Business Plan/Business Case

Abstract
A business plan is a document used for planning out specific details about a business. A comprehensive business plan has three sections- business concept, financial and marketplace. The fundamental purpose of a business plan is to define what the business is or what the company intends to be over time. A business case captures the reasoning for starting a task or a project.. A compelling business case sufficiently captures both the quantifiable and unquantifiable characteristics of a proposed project. A business case and business plan are elementary documents in business or a company. The two business documents differ in terms of the procedure of developing them and the intent of developing.

Introduction
Business Plan
A business plan is a document used for planning out specific details about a business. A business plan can range in size from a simple few sentences to more than 100 pages with formal sections, a title page and a table of contents. A typical business plan has an average of 15-20 pages. A comprehensive business plan has three parts- business concept, financial and marketplace. The three sections are broken down into seven components. These components include the overview of the plan, a description of the new business, design and development, market strategies, competition analysis, operations and management, and financial information. The main purpose of a business plan is to define what the business is or what the company intends to be over time. Clarifying the purpose and direction of someone business allows the person to understand what needs to be done for the business forward movement. Clarifying consists of a mere description of the business and its services or products (Wassinger et al. 2011)

Business Case
A business case captures the reasoning for starting a task or a project. It is usually presented in a well-structured written document, sometimes a business case comes in the form of a short verbal presentation or argument. The purpose of a business case is that, whenever resources such as effort or money are consumed, they should be in advocate of a particular business need. A compelling business case sufficiently captures both the quantifiable and unquantifiable characteristics of a proposed project. A business case depends on the business volume and business attitude (Belkin et al. 2000) Business cases can range from complete and highly structured, as required by formal project management methodologies, to informal and brief. Information found in a formal business case could be the background of the project, the expected business profits, and the options considered also the expected costs of the business, a gap analysis and expected risks of the project. A business case is of great importance because it helps decision-makers ensure the proposed initiative will have relative and value priority compared to alternative actions based on the goals and expected profits laid out in the business case. Also, a business case helps the decision makers ensure the performance found in the business case are identified to be used for the proactive realization of the business and behavioral change (Larriveee, 2012).

Comparison and contrast: Business Plan and Business case
A business case is organized around a decision or an action, to address business case questions, the questions in a business case contrast with the focus for the business plan. A business plan address questions such as what will the business look like in a year or three years? How does the business project get to those results? What sales, revenues, and margins can we expect the coming year? How many years will it take this business project to become profitable? Sometimes confusion arises about the differences between the business plan and business case and the ways they complement each other. In brief, a business plan is organized around the business association. The business case is held to address questions about the single decision or action. Whereas a business plan asks what the business project will look like, the business case asks: what will be the outcome in business terms if we take this action or that? In contrast to the business plan questions, the business case addresses questions like: What will be the financial outcome if we choose x or do y? What important non-financial consequences can we expect in either case? What will we require a capital budget next year if we decide to buy the service cars instead of leasing them? (Larriveee, 2012)

A business case is organized around a single decision or a single action and its alternatives while a business plan is organized around an organization or the whole business. The plan may cover a single manufactured good or product line or the whole enterprise. A business case predicts cash flow outcome and important non-monetary impacts that follow from the action while a business plan predicts company performance of the organization, especially in the main categories of the income statement. A business plan may include projected pro- forma balance sheets or income statements for future years. A business case focuses on business objectives for the action meant to be accomplished while a business plan focuses on the business goals for the organization. A business case is based on a cost model and profits rationale, intended for the case, and applied to single or more action scenarios while a business plan is based on the business model for the association. Showing how and where the enterprise makes money, same to income statements. A business case measures financial metrics such as IRR, ROI, NPV, TCO, and payback period, based on estimated cash flow. Also include significant non- economic impacts. A business plan measures business performance in terms of sales, profits, margins, and business health by involvement to large balance sheet categories. A business case in a government organization or in a non-profit organization, the scope of the case may include advantages and costs to the people served as well as the business itself. A business plan may focus on budgetary requirements, funding needs, and ability to operate within the financial plan (Larriveee, 2012).

Conclusion
A business case is intended to justify a particular course of action or decision relating to an existing business or organization. For instance, a human resource manager may write a business case for increasing the number of workers while a production manager may write a business case for acquiring a new production machine (Harvard Business School Press 2011). A business plan is generally prepared while starting an enterprise to describe an acknowledged opportunity, the manufactured goods or services to meet the occasion, the target market, and the business strategy to win against competitors. As a business document, a business plan informs the entrepreneur and the financier the monetary requirement and the project performance of the company. The primary purpose of preparing a business plan is to solidify funding by describing to the potential funders not only the practicality of the business opportunity, but also the strategies to assure the success of the company. It is critical to comprehend the use of each of the business documents.

Levendary café memorandum

MEMORANDUM
TO: Mrs. Mia Foster, CEO Levendary Café

FROM: Consultant (your name)

DATE: 6th April, 2015

RE: Advice on your meetings regarding future of Levendary Café China

WORDS: 806 words

Statement of the problem: The major problems that the company is facing are the response and performance of the China market. The management of the Levendary Café has many issues, and skepticism on the ground of the issue generated out of the new CEO, new strategies, new market, and new reporting procedures. Another issue with the company was that there was poor understanding of the Chinese procedures and policies when planning the penetration strategy. The Levendary Café failed to adopt the GAAPs for accounting revenues collected and, as a result, the company did concur in higher expenses. Levendary Café failed to consider the organizational culture of Chinese businesses where the hierarchical structure is bottom-up rather than the top-down structure of American companies. The error is an indication of lack of communication between Chen and the CEO and also the refusal attitude of implementing any change. As a result of issues facing the company, Levendary Café should make the following decisions

Adopt policies that reinforce transparency
Communication plan
Marketing strategy development
Alternatives: some of the alternatives that can help to solve the problem include

Dismiss the company’s operations in China. It tends to be an appropriate option to consider because the financial statements indicate that the Levendary café is not performing better since it is not making any profits. It is a situation that is not likely to turn around any time soon. The poor management style by Chen as the Chinese operations CEO is not proving to be as profitable as expected. Thus, the organization must reconsider the option of dismissing its operation or make a joint venture so as to enter the Chinese market.
Consider the standardization strategy. Levendary Café should consider replacing the stores that fail to follow their standardization strategy and to make enough changes so as to attract the targeted customers by the American company since the start. The standardization strategy will provide consistency to the company’s brand and will focus on quality features instead of quantity. Additionally, the adoption of the standardization strategy will attract demand and may force the Chinese operations to incur lower net profits since they will be ignoring the advantage of alternative adaptation strategies.
Consider the mixed strategy alternative. Levendary Café can consider using the standardization strategy and also include some local dishes in their menus. They may also consider including different kinds of the menu as it will satisfy the different kinds of demands. Establishing a café that appeals to different tastes is important as it will help Levendary Café to start making profits rather than loss.
Decision: It is the highest time that Levendary Café should consider strategies that will help it make profits. The main costs that require controlling are marketing, labor, and maintenance; thus, there is a need for the American CEO and Chen to define and coordinate marketing strategies and also risk analysis. It will help in identifying the cost drivers. It is also necessary for the CEOs to redefine objectives, expectations, and responsibilities in a formal written agreement that will, include the features essentials to Levendary Café when they are expanding to other locations.

The appropriate action to take is adopting the mixed strategy that will keep standardized strategy to provide consistent brand image and also appeal to the local tastes through the modification of the menu. A standardized strategy such as the GAAPs will reconcile the accounting differences and also enforce transparency through the cafes practices. The criticism for adopting the missed strategy will be that the option will increase the operating and marketing expenses. However, it is necessary to know that, Chen will be able to establish his Chinese operation team that will include Chinese and American employees so as to make it easy to transfer knowledge.

Action: some of the action steps that Mia must take so as to turn the plan into a reality is through

Hiring an international financial analyst who will standardize the accounting procedures.
It is important to retain Chen rather than replacing him; thus, Mia should value his social connection and also his efforts and experience. Thus, Mia should consider training Chen in restaurant functionality so as to help improve his performance.
Mia should also develop long-term goals and strategies aimed at reviving the company in the Chinese market through making sure that Chen understands the importance of brand culture to the company. Foster should perform frequent observations and evaluations.
Mia and her team should take courses from the Chinese instructors so as to learn what drives the Chinese consumer. They should learn about the Chinese consumer preferences and behavior.
Carolyn Morgan is the author of this paper. A senior editor at MeldaResearch.Com in write my nursing research paper services. If you need a similar paper you can place your order from essay already written services.

How Does Generative AI Test Applicants More Thoroughly Than Conventional Exams

Traditional examinations have been the main means of evaluating pupils’ knowledge and comprehension for many years. Personalized feedback, flexibility, and practical skills evaluation have been significantly lacking due to their emphasis on definitions and memorization. To effectively represent students’ diverse talents, assessment methods must change as education progresses.

The Static Character of Customary Exams
Traditional paper tests use prepared questions that may not accurately assess a student’s comprehension or problem-solving skills. These tests’ static character restricts the evaluation to a small range and omits important facets of a student’s capability.

Generative AI: An Innovative Approach to Assessment
The revolutionary approach of generative artificial intelligence (generative AI) seems to solve the problems with traditional tests. In contrast to conventional techniques, Generative AI makes use of sophisticated algorithms to provide dynamic, adaptive tests that surpass simple memory.

Comprehensive Evaluation of Practical Skills
The capacity of Generative AI Assessment to assess practical skills is one of its main benefits. This method better assesses students’ practical skills by mimicking real-world situations and dynamically creating questions that demand knowledge. A comprehensive picture of a student’s skills is given by Generative AI tests, which include everything from coding tasks to situational problem-solving.

Adaptability and Personalization in Assessment
Conventional tests often use a one-size-fits-all approach, ignoring the differences in each student’s learning style and speed. Conversely, Generative AI Assessment adjusts to the unique skills of every learner. The technology dynamically tailors questions depending on replies to match student competency. This flexibility promotes a fair and more individualized assessment procedure.

Quick Feedback for Ongoing Development
The delay in feedback delivery is one of the main drawbacks of conventional tests. However, Generative AI Assessment provides immediate and thorough feedback. This lets teachers pinpoint certain areas that may need more attention, in addition to helping pupils quickly recognize their errors. Continuous improvement is facilitated and the learning process is enhanced by the real-time feedback loop.

Ethical Considerations and Fair Evaluation
A fair assessment procedure is guaranteed by Generative AI Assessment, which aims to reduce bias. Exams that are based on tradition may unintentionally favor certain learning styles or cultural backgrounds. Data-driven generative AI minimizes such prejudices, creating an inclusive evaluation environment that embraces variety and individual talents.

Preparing Students for the Real World
Critical thinking and flexibility are essential in a world that is changing quickly. Generative AI Assessment tests students’ knowledge application in dynamic scenarios to prepare them for real-world difficulties. Students gain from this in both their academic and professional endeavors, as it gives them the tools necessary to adapt to a rapidly changing work environment.

Conclusion
By solving the shortcomings of conventional tests, Generative AI Assessment offers a revolutionary step in student assessment. Looking forward, the incorporation of Generative AI Assessment has the potential to promote an educational system that is more equitable, inclusive, and productive.

Generative AI Assessment is more than simply a technology advancement; it’s a step toward a more comprehensive and responsive education system that enhances each student’s unique qualities.