Page 79 - Bisiness Studies_Form_3
P. 79
Business Studies for Secondary Schools
Executive summary: This gives an visions are: “To become a leading
overview of the business plan and a secondary school that provides
snapshot of all its details. It is meant to quality education in Tanzania”. “We
capture the reader’s attention. Therefore, aim to become a leading national
it should be written in a concise but business centre, focused on customer
comprehensive manner, as some readers needs and reliable supplies.’’
FOR ONLINE READING ONLY
may not have time to read the whole (e) Mission: This is a statement of
document. purpose. It tells the purpose of
Business description: This part provides the business’s existence. A good
key information about the business, mission statement communicates
including: to customers what the business
serves them. Examples of mission
(a) Business name: This part informs
about the identity of a business. statements can be: “To offer a quality
An entrepreneur may choose any education to students”. “To provide
business name to be referred to by customers with the most enjoyable
clients. It is important to note that shopping experience”.
one needs to choose an appealing Market assessment: This shows existing
business name that will attract opportunities in the market that can be
customers rather than offend them. exploited. For a start-up, market assessment
In Tanzania, to ensure the uniqueness is important as it provides the basis for
of the business name, it is important justifying demand and supply, the sales
to consider registering the name projection, and the marketing plan. It also
with the BRELA or BPRA. shows how the new business will fit into the
market. The purpose of market assessment is
(b) Legal status: This explains the regis- to get more information about the customers
tration and/or nature of the business, of the business as well as existing or future
whether it is a sole proprietorship, competition. Alongside market assessment,
partnership, or a company. the Strengths, Weaknesses, Oportunities,
(c) Ownership structure: This informs Threats (SWOT) analysis is conducted to
how the business is owned in terms provide the business with clear information
of the capital composition used to about the close competitors; hence, it gives
establish or grow it. the business prior information about its
(d) Vision: This is a statement outlining strengths, weaknesses, opportunities and
what the business wants to threats which will assist the business in
accomplish in the long run. It portrays setting competitive strategies. Thus, among
a future state for the business and other things, information from the market
establishes a clear path for future assessment is used in writing a marketing
planning. Examples of business plan.
71 Student’s Book Form Three
