Business Plan on Global Star
Research and interpret a current marketing plan (template). �www.business.gov.au or other website
searches will assist you in the following task. Please ensure you outline and list all the key elements
(content) required when creating a sustainable marking plan for a business.�
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Not only are you required to provide a list of content but also provide a brief description against each key
point. �
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For example: �Marketing Objectives defines what you want to accomplish through your marketing
activities. � �
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BUSINESS PLAN ON GLOBAL STAR 2
Part A
Question 1:
The three new marketing ideas and opportunities that would create a great commercial
opportunity to Global star are: first, what need to fill or what problem to solve that will create a
value proposition to the company. Second is the idea of how to make money which provides an
opportunity of the revenue model. Third is the idea of how the market will either grow or shrink.
This is the market growth. It should create an opportunity for the increase in demand of the
products or services of the business over time (Hyman & Sierra, 2010).
Question 2:
If Global Star should consider the value proposition, they will be able to achieve their goals on
the manufacturing since they will be able to use the best-in-class door and window in
manufacturing techniques that will maximize the quality of all their products. Identification of
the revenue model will help to attract even more people and keep innovative customer-focused
employees who will in return reward the company’s performance fairly and equitably. If the
market growth factor is considered, the company will be able to achieve its operations goal in
achieving the best in class warehousing, ordering and the distribution practices.
Question 3:
BUSINESS PLAN ON GLOBAL STAR 3
Value proposition applies to an entire organization. It is based on a review and the analysis of
benefits, costs and value that the organization can deliver to its customers both new and
prospective. Its impact to Global Star is that it positions value. That is, Value is said to be equal
to benefits minus costs where costs include the economic risk like investing in common stock.
The revenue model allows the entire business to be structured around the around it. It does not
allow any decision to have more potential to break the business. Its impact to global Star is that it
impacts the marketing and the sales efforts and it also affects the product and the service design
on the company. The market growth can at times be slow more especially if the consumers do
not adopt to a high demand if the consumers find their product or service important for the price
level. It is however important to Global Star if it has to grow and prosper. Its success will
generate increased incomes, which would encourage further economic growth.
Question 4:
To include a probable return on investments, Global star is required to know its goals, by which
to measure the success of the finances, know a good and reliable range for demand, know the
cash needs to start up a business and know the operating expenses. Just by looking at the
business from its financial perspective, it is possible to predict with reasonable accuracy whether
or not the business is feasible. It is necessary to assess the business goals, the skills, resources,
experience, knowledge and barriers among others. On the financials, the startup capital needs are
analyzed, the Pro Forma balance Sheet and the income statement, the operating revenue
projections and expenses, the working capital and the future cash flow need.
Question 5:
BUSINESS PLAN ON GLOBAL STAR 4
The recommended operational changes are on the technological changes, which are often
introduced as the components of larger strategic changes although they at times take place
specifically on their own. This is an important aspect because it will help in the determination of
who within the company will be threatened by the change. This should be incorporated within
the company’s overall system and at the same time, a management structure is created to support
it. Another operational change includes the people changes, which involve the change of workers
considering their attitudes and behaviors so as to increase their effectiveness. This is the most
difficult though the most important part of the change process.
Question 6:
There are four major costs for the change management in organizations (Cameron & Green,
2009). First, is the dedicated resource on a project team. The project manager takes on the
responsibility for a small change to a change ready group. Second is the procurement of
methodology and tools. These are the tools that are available to be used by the change
management resources. Third is the purchase of the source materials necessary for change. These
materials are used by managers and supervisors in their exercises in coaching during the change
process. Last is the training time and costs necessary during training. This applies to everyone
involved in the company. This involves the managers and the supervisors as the trainers for
change, the senior leaders as sponsors, the change management resources and the project teams.
Question 7:
When making changes, the privacy laws provide better protection to individuals with regard to
how the personally information may have been collected. The operational changes include the
privacy principles and apply to small businesses with a turnover of $3 million or less and also to
BUSINESS PLAN ON GLOBAL STAR 5
those with an annual turnover of $3million or more. On the other hand, the state laws require that
organizations should form a workplace that is free from anti-discrimination. It is important for
employers to understand their rights and responsibilities under the human rights and the
antidiscrimination law. By putting all these in place in your business, then you are assured of an
improved productivity and increased efficiency (Cameron & Green, 2009).
Part B: Marketing plan
One of the most important areas of the small business owners is the development of a
marketing plan. Though being the most important, most businesses overlook it. An effective
marketing plan acts as a reference document that helps in the execution of the marketing
strategy. It also helps to develop a methodical approach for creating products and services that
would satisfy the customer’s needs (Marketing plan template, 2013).
Market planning should be an ongoing business activity. As there exists change in the
market conditions and the business, you will need to revisit many of the ideas and strategies that
are outlined in the marketing plan. Referring to the plan ensures that the business keeps heading
in the right direction.
Key Elements Required When Creating a Sustainable Marketing Plan for a Business
First, there should be a background analysis for the business. The business opportunities
and the challenges should be detailed. This helps to define the business capabilities. Second is
the future analysis of the business where the vision statement and the marketing objectives are
stated. This defines exactly what you would want your marketing plan to accomplish in the
future. Third is the analysis of the market where the business states its target market, marketing
strategy and the marketing mix. The target market explains who the business will be selling its
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products to. The marketing strategy details how you will bring your products and services to the
market in a customer satisfaction way. The marketing mix is the elements that make up the
marketing strategy. Fourth is the financial analysis of the business where the action plans and
budgets bring the strategies and the marketing goals to life.
References
Cameron, E., & Green, M. (2009). Making Sense of Change Management : A Complete Guide to
the Models, Tools & Techniques of Organizational Change. London: Kogan Page.
Hyman, M. R., & Sierra, J. J. (2010). Marketing Research Kit for Dummies. Hoboken, N.J.:
Wiley.
Marketing Plan Template: Exactly What to Include. (2013). Promotional Marketing,
