Assignment analysis the business plan to observe need of secondary & primary resources makes the content authentic.

Introduction 

In modern business especially in entrepreneurship businesses that uses business plan as an effective strategic tool. Business plan is basically a written document that illustrates detailed necessary steps for operating and opening a successful business (Mullins, 2012). An effective business plan significantly used in business to communicate with stakeholders, potential weakness, makes sound decision. This essay considers a creative and cultural business plan designed by Tate. Tate is an institution provides a network for four art museums. Those museums are the collection of international contemporary and modern art and British art. In this essay a critical analysis will be performed against the business plan created by this Art institute to identify its weakness and strength to achieve its business objective (McKenzie, 2015). Using SWOT and PESTEL analysis external and internal constraints will be identified considering the business plan and this will be obtained from a pre defined research paper. 

Mission of the business plan: The aim of this business is to promote the enjoyment and public understanding of British, contemporary and modern art. This business plan aims to open new Tate St lves and Tate modern within 2017 to deliver an ambitious activity program in galleries, international, national areas. 

Evidence of research

-          Relevant use of primary and secondary resources: All the information gathered about the institution and its business plan was taken from their official website. Therefore, it was hard to identify the revenant resource which has been used in creating the business plan. All of the information has given in a report format and there was no reference mentioned in this. As per the assumption all the resources used in this planning are from online websites, books or designed by their experts. Secondary resources are the prime factor in this business plan as there was not mentioned about any of survey or interview with professional of staffs of the organization. This business plan has been influenced by any real life project event where art and culture has been highlighted in modern or contemporary form. It can be concluded that this business plan does not have any primary resources in the designing of the plan. 

 -          Critical analysis of resources used in the business plan: Every business plan has a influencing idea or reference which is essential to mention while presenting a report but in this business plan there was not a single mention of reference of the source of the idea. These types of business plan are confusing for the future reference as the readers are not capable of identifying the source and establish the relevance. Furthermore, this business plan also includes all the resource data effectively and sequentially which is helpful for the reader. As per the assumption all the resources used in this planning are from online websites, books or designed by their experts (Scarborough and Cornwall, 2015). Secondary resources are the prime factor in this business plan as there was not mentioned about any of survey or interview with professional of staffs of the organization. The importance of practicing resource reference is it makes the data more authenticate that is why the relevance of the data is zero in this business plan. No use of reference can be considered as a drawback of this report as they can improve and authenticate their business plan with the help of different journals and research works and draw more information and ideas about a successful business plan. 

SWOT analysis of the business plan 

Using these SWOT analysis internal and external factors of the business plan can be obtained which will help to restate the issues and benefits of the business plan of Tate. Obtaining all these factors Tate can establish sustainability plan and make some modifications in its existing plan which will make it easy to achieve success factors. 

As per the SWOT analysis this has been obtained that few of the strength factors can be backfire in future like engagement of UK government with the project, Global partnership and detailed time schedule (shopify.com, 2018). All of the threat can be strategically used as the opportunities and strength in this business plan. Furthermore the weakness can be modified into strength that is also possible by applying strategic planning in the business. 

Structure and content 

Brief of business plan

Clear structure: In this business plan work structure breakdown does not mentions but there is sufficient information given on the project plan. Along with that this plan also produce a wide information about the detailed working schedule of the project which contains clear idea of opening new entities like Tate Britain, Tate Modern, Tate Liverpool and Tate St Lves.  This structure also includes the description of the Art and culture those will be present in mentioned activity program. Not only exhibition program this structure also consists additional activities which are aligned with the project objectives and priorities. 

Depth analysis: Analysis of the Business plan is not clearly mentioned in this report (Finch. 2013). However as per the decisions and necessary steps taken for a selected work is the proof of detailed analysis. One of the main strength of this business plan is its analytic part which has been done effectively that results in the designing its plan. Although this business plan doesn't use any framework or analytical tool for this analysis but the result of analysis reflects its effectiveness. However, without an effective analysis international partners and their impact in art exposure is not possible.  

Awareness of content: As this business plan did not use any references so the data authentication has been a biggest issue in the plan. However the provision of business objective is clear and mentioned all the possibilities along with the limitation make the relevancy of the project. 

Main them: This business plan aims to achieve predetermined objectives within time and budget that can be considered as the main theme of the business plan (bplans.com, 2018). Profit is not the prime factor of this business plan but reputation and exposure of modern and contemporary art is the main purpose of this plan. That is why the organization has determined their profit as low as possible. 

Theory: This plan does not consider any theory to support their design. This is one of the major limitation for this business plan. 

 PEST analysis of Business plan 

Political: Political influence in this business plan has been obtained again and again as UK government involved in this project. UK government has announced about the economic aid for next three years. Economical help of UK government is a biggest support in this business plan which reduces the chances of risk. 

Economic: Economic condition of the UK has played an important role in this business as UK governments provide subsidiary facilities to Tate.  This organization can have a wider economy changes through its sponsorship and commerce and donations through the implementation of business plan. Individual and corporate sponsors would impact on the revenue of Tate. 

Social: Social value of UK impact on the project as the cultural difference influence the taste of art. UK is a ground which serves a diverse culture so there is a higher possibility of having variety in Art and preferences. Higher numbers of interested crowd is the considered as the strength factor for this business project. 

Technology: Digital marketing through online websites and social media uses represent the impact of technology in this business plan. UK is a market where technology is highly appreciated in business marketing that influenced in this business plan also. 

Critical analysis of proposed business plan 

According to Chambers and Humble (2017), a business plan should contain secondary and primary resources which is used to support and make the content authenticate. However, this business plan does not contain any kind of reference or mention of primary and secondary data which would be the most disadvantageous part of this business plan.  It was hard to identify the revenant resources which have been used in creating the business plan. All of the information has given in a report format and there was no reference mentioned in this. On the other hand this business plan does not shown any use of analytical tool for its depth analysis which can be count as its limitation. After doing the SWOT analysis of this business plan it has been observed that there was no such employee engagement and human resource plan in respect to develop the project. Sahlman (2018), has opined that every business is developed on proper foundation of employee management because it helps to design the business decision. However this business report does not contain a single plan for human resource management (forbes.com, 2018).  Furthermore there was no such procurement plan also present to manage or control future risks. One of the beneficial parts of this plan is its clear work structure.  In this business plan work structure breakdown was not mentioned but there is sufficient information given on the project plan. Along with that this plan also produce a wide information about the detailed working schedule of the project which contains clear idea of opening new entities like Tate Britain, Tate Modern, Tate Liverpool and Tate St Lves.  This structure also includes the description of the Art and culture those will be present in mentioned activity program. Although this plan facilities the success factor as it contains proper identification of competitors, clear objectives of the business, mentions of detailed activity program, economic and legal support of UK government, global partnership with many Art organizations, producing proper and sustainable operating model for the business and project budget planning. 

Conclusion 

After analyzing this business plan it has been observed that a business plan needs to contain secondary and primary resources which are used to support and make the content authenticate. Along with that business plan should use appropriate framework to analysis the situation and environmental factors, business constraints and competitors. Other than that every business plan must contain human resource management plan and risk management plan which given a better perspective to reduce the chance of failure in meeting goal. Moreover, the critical evaluation of this business plan shows that lack of any kind of reference or mention of primary and secondary data and references has been a major drawback for this plan. 

Related :-

Q National Business Ethics Survey- Evaluation of the business ethics An assignment on National Business Ethics Survey increases information on norms and regulations which has imposed to reduce workplace conflicts and issues

Q HBP Simulation and Debrief Assignment-to improve economies of scale The assignment is on HBP Simulation and Debrief in regard of Kelsey-White (K-W) Simulation Case under the brand name Blues in several forms as powder

Q Healthcare Policy,role of government in formulating different policies The assignment is for healthcare policy which explains negative consequences of using tobacco-based products in a given environment

Q GHL2018 - Employment relations to meet the end needs of the customers Assignment on GHL2018 - Employment relations to perfect employee management & the strategic work formation so that the work processing can able to match needs.

Q Social Media Communication in Maintaining Public health The healthcare organization must engage with the patients on real time that will provide massive amount of benefit and enables more deeper meaning of discussion

Q Tesco company's market research Tesco and the other retailers provide their customers the personalized offers for motivating them more towards more amount of purchase of their products

Q Risk Management & handling safety hazards. This assignment report evaluates regarding the importance of conducting the risk assessment in order to maintain the workplace safety.

Q Cafe Back Bean : Current Strategies for Marketing Assignment describes the Café Black Bean marketing strategy that would lead to increase the number of customers in the cafe.

Q Typical aspects of consumer behavior. Assignment deals with the culture, attitude, psychology,social classes,learning processes,personal buying decision making of consumer.

Q Training & development programs. proposal for training program for the senior managers and employees of the organization