Answer To: MGT 310: Small Business & New Venture Management Business Development Plan Assessment Task 3 – 40%...
Sandeep answered on Jun 06 2021
BUSINESS DEVELOPMENT PLAN
Table of Contents
Introduction 3
Background 3
Development opportunity and goals 4
Development plan 4
Conclusion 8
Recommendations 8
Reference List 9
Executive Summary
The study shows the business development plan of the Canva and the opportunity and target of the business. There is a detailed analysis of the recommendations for the betterment of the business. Proper planning is very important as well as the budget analysis and the marketing plan is also very important for the business development plan. The communication plan helps the company to explain that they care for their users in every aspect regarding technology. The Company can adopt a few more steps in order to generate more revenue and increase the business, which is discussed below.
Introduction
The business development plan is the guidance that is provided to the organisations for the purpose of building a strong value of the product and the service. A successful Business Development plan is the inclusion of SWOT Analysis, situation analysis in a clear state, outlining goals and objectives, tactics and strategies of the institution. The Business Development Plan is used for the success of the organisation and to understand the vision and mission of the organisation. The study provides information about the background of the business development plan in an organisation and development goals and opportunity. There is a detailed discussion about the development plan. The study provides some recommendations for the betterment of the business.
Background
The Company taken in this study is the Australian small scale company Canva (businessinsider.com.au, 2019). Canva is an online graphic designing platform and has been doing great since its inception. The company had shaken the complicated and expensive software by replacing them. The design floor had made it possible and had created a simple way to flourish due to its beautiful business development plan. The business development plan had helped the business to grow and create a platform for social media, presentations, graphics, posters, invitations, and blogs (Wirtz et al. 2016). This has been possible due to the determined vision of the company owners, who had made an excellent business plan, which include advertising, marketing, team building, and innovative idea generation.
The company was launched by Cliff Obrecht and Melanie Perkins, who planned to start up a business of their own and started the business as a small scale enterprise. The pair built a technological efficient team and started making some Fusion books, which made a huge market in Australia. The fusion Book has become the largest school yearbook publisher and it has even expanded in France and New Zealand. The company started its journey in the year 2012 and started gaining name from the first year. In the first year, Canva had almost 750,000 users and social media expert and technology master Guy Kawasaki joined the team as the chief evangelist (forbes.com, 2019). This helped the business to grow with immense pace and increased its confidence level. Canva for work started giving business for producing the marketing material.
Development opportunity and goals
The development opportunity and the goals of the Canva include many targets for them. They have a plan to involve the whole population to use their platform for the designing and the graphic making purpose. Their goal is to target the whole technologically advanced sector of the world. They can try to provide a few opportunities for the population with their application.
· E-learning- The Canva can try to produce a system, through which the population can get facilitated in E-learning. As opine by Chang (2016) they can provide an opportunity for the people to learn graphic designing through online tutorials through their app.
· Online designing- They can provide part time jobs from home. They can open jobs where they would ask the candidate to make design through their pp and submit through Canva only. They will be paid for their service and their designs will be used in images.
Apart from this, the Canva started working with certain goals and they can make further goals for their betterment. They can aim for targeting the students who are most addicted to technology now and they will be more known to them. They will be used more and young people will be happy in using the new designs.
Development plan
Planning
Proper planning is very important in order to bring in a profit, to make business, to attract users and to make a cost-effective production. It is very important for a company to conduct research as it is the most important part of planning while developing a business. It is very important to know who the present competitors are and which product is attracting the market...