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These comprehensive guidelines make it possible for all employees to understand how to carry out basic business tasks and allow the company to operate more efficiently.Identifying basic business activities makes business planning easier.
Areas that come under the accounting group are accounts payable, accounts receivable, payroll, customer credit accounts, collections and tax accounting.
Accounting reporting is responsible for annual tax filings, monitoring company costs and maintaining financial relationships with vendors and customers.
Sales is the group that maintains direct contact with the customer base.
The sales group reaches out to prospects to help expand the customer base while also maintaining relationships with existing clients to secure repeat sales.
Individual team members will gain different skills depending on which team they participate with. First, of the CEOs presentation of the sample business plan, and second, and the groups develop example sections of their plan for an existing local business.
The final evaluation of the success of the plan is derived from the overall success of the business simulation project which the plan creates.
Marketing helps to develop company and brand recognition in the marketplace as well as develop advertising pieces that the buying public would see.
The marketing group develops comprehensive marketing plans that use sales projections to help determine the best way to use company resources to gain more exposure for the organization and its products.
The completion of these three plans will provide the group a complete business plan.
The scope and depth of the business plan assignment will need to be determined by the teacher in advance, depending on the number of - and abilities of - the students available to work on the plan, the length of the course (semester, year-long, etc.), and the anticipated complexity of the business to be developed.