Critical Commentary business plan essay
The evaluation of the business plan “Red River Optical: Affordable Reading Glasses for Vietnam, Business Plan” has been done on the various parameters such as the overall background of the glass industry in Vietnam, the marketing strategies which would be used by the company in order to attract more number of customers towards it, the distributional activities to be used in order to make the glass available in the rural as well as urban areas, the team of doctors & the other managers which would be required in order to manage the entire business, the risks which would be involved while setting up this business.
The income statements, cash flows & balance sheets of three years help in order to attract people to invest in such type of a company & generate huge amount of revenues. The long term strategy has also being formulated which would help the company to have a clear vision & mission in their mind.
While completing this evaluation report on the business plan “Red River Optical”, the various elements or the parameters on which the evaluation has been done was being taken in to consideration. Logical understanding was made between the elements & how the company would implement it in order to have a sustainable advantage as compared to the retailers available in the Vietnamese market.
A fair understanding was created to see how the various promotional vehicles & the unique characteristics of the product i.e. eye glass would set apart from all the other retailers available in the Vietnamese Market. The process which we used as a group in order to complete the evaluation report consists of a thorough understanding of the glass industry in the Vietnam market. Looking into the industry, the company had to design & implement various marketing strategies which would help in capturing the market as a whole. The major aim of the company would be to target the rural as well as the urban market by providing them with high quality of eye glass or lens at an affordable price which would enhance the productivity of the people at large.
The next step in the completion of the evaluation report referred to how the company would distribute all its products all across the market. In order to capture the market, it has to appoint various sales personnel & train them to check that timely delivery of the product is being made in the Vietnamese market. The last step referred to the calculation & drafts the financials & takes into account its long term strategy of the company i.e. to capture other parts of the globe. The income statement, cash flows, balance sheet shows a positive figure & indicates that by setting up this business plan would give rise to high amount of revenues in the near future. Therefore, the business plan so mentioned is feasible & should be appreciated on the basis of the following elements mentioned above.
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