Various topics in paper included 2 Assignment Example | Topics and Well Written Essays - 500 words

Various topics in paper included 2 - Assignment Example There are certain ways through which an entrepreneur can come up with a business plan for an already existing businesses or a new venture (Jones & Jayawarna, 2013, p.1). For instance, an entrepreneur can consider using business simulation method to create its appropriate plan. One of the most common business simulations encompasses the SimVenture, which reflects reality and gives an entrepreneur the opportunity of the respective start up and how run own virtual business. SimVenture is commonly rampant among experienced entrepreneurs whereby it has proved to be extremely helpful to thousands of upcoming entrepreneurs (Jones & Jayawarna, 2013, p.148). In the assignment provided, it is evident that the Company mentioned is not successful; hence, using SimVenture to develop a new and appropriate business plan. In order to ensure the success of the Company, the most important issue that should be considered first is having the knowledge about the Finance, Marketing, Operations and HRM sectors of the Company. Through getting all the available information concerning these sections of the Company, then using SimVenture becomes much easier since one can now recognize the origin of the problem and where to put much focus. Looking at the financial sector of the company it is possible to note that there are high possibilities that the company is wasting away some of its finances. This is because, the Company is said to have had a regular sales income after trading for 8 months. This is evidence that the company is not making any considerable profit. Additionally, the Company has operated for the 8 months yet its sole employee still has no office. To mean, resources are not being well managed. Moreover, the Company’s cash that is available in the bank is around  £8,500. Considering the HRM factor, it is evident that the Company has only one employee who has the responsibility of managing the Company’s resources and the