This allows for the reader to understand the breath of the ownership structure without gaining significant details.Tags: Vocational School Business PlanWriting Essay TestsEssays On Racism In To Kill A MockingbirdProblem Solving In AccountingPre-Writing Strategy For The EssayThesis Statement On IraqResearch Papers Online UkCourses For Social WorkWrite My Research Paper Cheap
Ownership and management need to have a written document showing specific duties for each owner, if applicable, and specific job responsibilities for each position within the company.
By having this document, readers will see how the business will function and better understand the breakup of management responsibilities.
A second benefit for detailed assessment of a company’s structure is to understand how each owner will contribute to the company.
In other words, if there are more than one owner, what are the responsibilities and how are these responsibilities to be carried out.
If you don't have a lot of experience--but are willing to work hard to overcome that lack of experience--don't be tempted to include other people in your plan that will not actually work in the business.
The organization structure section should discuss whether your business will be a sole proprietor, limited liability corporation, or corporation, who will run your business, each person’s responsibility, and how your business will expand if needed.In doing this, a sound foundation for management competence will be established.A final reason the section is important is the job responsibility segment.Joe has over twenty years experience in the cycling business.He served for ten years as a product manager for ACME Bikes.Thus the need for the organizational section following immediately behind the company description.When I write my organizational structure for a business plan, I always start the first paragraph with reminding the readers of the company name.One key note: Don't be tempted to add a "name" to your management team in hopes of attracting investors."Celebrity" management team members may attract the attention of your readers, but experienced lenders and investors will immediately ask what role that person will actually play in the running of the business--and in most cases those individuals won't play any meaningful role.In the job responsibility section, I usually structure this portion is a bullet pointed list.At the top, I put the title such as CEO, project manager or job title.