Personal Business Plan: Vision, Market And Opportunity, Marketing And Implementation Strategy, Risks And Mitigation

Vision and Opportunity

The current project aims at personal developmental plan

Herein, the research work attempts to underscore the strategies required in forming personal business plan

Goals

To polish the skills and expertise I have learned in the university

To prepare for my interview and crack the profile of a marketing manager in a reputed restaurant

To gain experience in terms of product handling, service offerings, customer handling, sales margin, etc. through working in the restaurants

Purpose

To establish an entity that can contribute enough employment to the community (Cottrell, 2015)

To contribute welfare and uplift wellbeing in the society

Values

To provide the resources with correct benefits that can help them to evolve in their personal and professional life with the company

Add value to customer’ life through correct service offerings

Missions

To offer the best quality food to the society

To uplift people empowerment

Add value to the lives of both internal and external stakeholder

Key Questions

How can I be remembered?

How can improve the current communal state with my entrepreneurship abilities?

What HRM facilities I shall impose to maintain a healthy working culture and help employees to evolve with my business?

The hospitality sector would be the market that aligns with my goals

The younger and the older generations both would be my target market.

Long-term vision

To establish a successful company in the restaurant division by 10 years down the line

Marketing and Implementation Strategy

Market positioning statement

The majority of the restaurants are offering tasty and yummy food to you. But we and our team concern for you. Hence, we are offering the best quality and healthy food to give you a healthy lifestyle.

As an executive, I would definitely polish my creative skills to come up with innovative solutions

I would ask my employers to maintain a participative culture

To ensure high employee engagement and positive culture

After starting my own venture, I would conduct the CSR (practices) in the society

In terms of service, I would definitely like to keep a proactive attitude towards my employer

I will definitely take self-initiative to understand the market trends and if allowed to propose my ideas that can benefit the organisation the most

I would also understand the employer’s point of view if any change initiatives are taken rather than resisting

Key milestones

Imposing a profitable business model

Tapping the best potential market and the customer segments

Purpose, Values and Mission

Designing the most realistic, scalable and profitable marketing strategy for the restaurant

Recruit and train the most solid team (Lejeune et al. 2018)

Gaining the right authorities in the business from the industry

Conducting corrective research and development plan to comprehend the market trends

Designing an accurate service line

Maintain a through the track of my financial statements

Identifying the customers’ satisfaction index rate

Maintaining a daily count on customers’ footfall

Conducting a regular engagement session with the employees to deem their satisfaction rate and recognise areas they need further improvements

Conducting a regular performance review of the employees as well to recognise the performance abilities

The political condition of the UAE market

The economic stability would definitely impact the success factor of the business

The weather condition is another factor, which is definitely uncontrollable by nature

Infrastructure, the property development definitely create  considerable influence on new business

The rate of competition creates a high entry barrier for new business to form a set up in the UAE market

Maintaining an alternative communication means between the customers and advisors

Always maintaining a backup financial plan in case of uncertainties (Burnham, 2015)

The market is changing frequently, thus, customers would be approach via different platforms

Specialised CRM team would be hired to professionally handle customers’ queries

Data availability and it would be kept secured through strict confidential measures 

The recruitment process would be conducted simply based on skills and talents

There would not influence biases in the process of recruitment

Educate staff about risk probabilities an the process to overcome it

 A proper code of conduct would be maintained within the organisation on a regular basis

Every employee would be treated equally

The employees would be given the right compensation facilities as per their performance a designations

If termination is applied, employees would be given the right just behind the process

My faculties:

They have helped me to the immense in understanding the module and what exactly my academic requirements are.

They also trained me to develop my both professional and personal skills to evolve with the time

I am also grateful to each of the professor for my finding free time from their busy schedules to clear my academic related confusions

My parents:

I would definitely like to thank my parent for believing in my determination and helping me to get into this management filed

They have always helped me to learn from my failure

They are my confidence and stayed by me during my every hurdle

My Friends:

My friends have been my mirror watching whom I have grown up

I have always related myself with them in terms of all qualities, traits, behaviours, etc

The group study before every assignment had been a great help to come out of my comfort zone and to speak freely in public

Influential

Impactful

Evolving

Humanistic

Helpful

Insightful

References:

Bouman, N. (2018). Personal Development Plan.

Burnham, D. H. (2015). Create Your Personal Leadership Development Plan. The Discover Your True North Fieldbook: A Personal Guide to Finding Your Authentic Leadership, 199.

Cottrell, S. (2015). Skills for success: Personal development and employability. Macmillan International Higher Education.

Lejeune, C., Beausaert, S., & Raemdonck, I. (2018). The impact on employees’ job performance of exercising self-directed learning within personal development plan practice. The International Journal of Human Resource Management, 1-27.

Stewart, J. (2016). Personal development plan. In Encyclopedia of Human Resource Management. Edward Elgar Publishing Limited.

Tattum, D., & Tattum, E. (2017). Social education and personal development. Routledge.