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You have spent months preparing the project plan for this prestigious project that your team plans to undertake. The wait for project plan approval can be unnerving, especially when you do not have visibility into the opinion of management, clients, and other stakeholders. A streamlined project plan approval process gets your projects signed off faster and hassle-free. Approval for a project is usually provided by the team manager and top management. Read on to understand the project approval process, the best practices in project approval, and ways to streamline the project approval workflow.
A project plan approval process is during which decision-makers ensure that projects, invoices, budgets, and other processes that impact the organization’s financial status and stability are on par with the quality standards and requirements established by the organization. Approval for a project should be given only after a thorough review of the project plan. Project approval done in haste leads to disastrous outcomes that directly impact the business’s bottom line.
A sound project plan approval strategy must apply consistent, value-based approval criteria and automated routing for project requests that impact an organization financially and strategically. The project management plan approval process is the last stage in project management and consists of the following steps –
A set of structured steps that a project must go through before it can begin are part of the project approval workflow. The project plan is essentially a roadmap that ensures that the right projects are undertaken at the right time with the right resources. A well-defined project plan approval process mitigates the risks, enables better decision-making, and increases accountability.
The project plan approval process involves obtaining approval from various stakeholders, hence, managing it can be tricky without a streamlined workflow. The project approval workflow can be broken down into 5 stages listed below –
1. Project Initiation – This stage of the project is where the project’s scope, objectives, and requirements are defined. During the initiation stage, potential stakeholders and their needs and expectations are also assessed.
2. Planning – Once the scope and objectives are clearly defined, the next stage is to develop a detailed project plan. The project plan must include timelines, budgets, and resource requirements of the project. This is also the step where risk management proposals are created and potential roadblocks are identified.
3. Execution – Once the above steps are completed, implementation of the project plan can begin.
4. Monitoring and control – Post implementation, it is important to ensure that the progress of the project is tracked. All the issues that arise while executing the project need to be handled during the monitoring and control phase.
5. Closure – At the end of the project, you move on to reviewing the project results and outcomes. All the learnings during project execution need to be documented properly for future reference.
It is important to remember that at each of these stages, it is important to obtain the necessary approvals before progressing to the next stage. For speedy and effective approvals, it is important to identify the stakeholders for approvals. The stakeholders must be provided with accurate and updated information so that they can review and approve the project plan quickly.
Why should you streamline the project approval process? Doing away with process redundancies is the main reason why an organization would go for streamlining key business processes. Nothing slows a project down like the approval process , right?
Picture this – You have created a great project plan and your team is gearing up full steam for working on the project. The next thing you know is a roadblock – pending approval from stakeholders! One stakeholder keeps resending the project plan with several revisions, while the other stakeholder does not respond to any email. Your project deadlines are looming big on you! Been there?
Here are other reasons/scenarios where your project plan approval may reach a roadblock –
You probably would have encountered some or all of these issues that hold up the project execution. You can take steps to keep your project plan approvals in check. The good news is that you don’t have to sit back and watch your project getting shelved, you can streamline the project approval process with the right workflow automation tool like Cflow. Streamlining the project plan approval process is a great way to accelerate the project execution. Here is how you can streamline the approval process.
Establish a clear, streamlined process for feedback – Even before you start to write your project plan, you need to discuss, review, and approvals with respective stakeholders, and let their inputs shape the working of the process. Gathering this data helps you engage stakeholders in a productive conversation about the feedback process before a deliverable lands up with them for review.
Set the right parameters for review of the project plan – Having a wide scope for the feedback process leads to more work, which directly affects the project budget and timeline.
You must specify how many days and rounds of revisions the review cycle should include. Setting clear parameters around approval ensures that everyone is on the same page.
Set clear roles and responsibilities for each deliverable – Even before the project starts you need to establish clear roles and responsibilities for reviewers. Using the Gantt chart helps the team document roles and responsibilities. The availability of the reviewer and back up on the front end also need to be specified. Talking about availability with stakeholders on the front end enables you to build your project schedule around their out-of-office time. It is also good to ask stakeholders to designate a backup reviewer, so you won’t be left in the lurch when plans change.
Determine how feedback will be delivered – You need to work with stakeholders to figure out how feedback will be collected and accepted. A single channel must be set for feedback to minimize confusion and prevent unnecessary bog-downs bought on by free-for-all debates. Consolidate all edits and comments through a single stakeholder. Designating one stakeholder for feedback and sharing it in a format that is easy to understand and actionable. Using a collaborative document tool enables easy access and clear guidelines.
Build review and approvals into the project plan – It is time to formalize your process by designating tasks, dates, and assignments around it. Spelling out tasks and milestones makes it easy to present the plan to the stakeholders. Creating a project plan is only the beginning, highlighting key approval milestones, and working with stakeholders to understand project details are needed to build a solid review and approval plan.
Manage approval process and expectations proactively – Once the project commences, you will have to closely monitor how things are progressing and keep stakeholders in the loop all through the process. Continuous iteration and reiteration of what is to come in the project are necessary to ensure that progress is aligned with the process goals and objectives. Documents like project plans and weekly status reports should be made an integral part of the project approval workflow.
Having a well-thought-through project approval process brings several benefits to the organization. Some of the benefits include –
1- Risk management – It helps reduce risks by ensuring that projects are aligned with business objectives and resources that are allocated for the project. In industries like healthcare or finance, where compliance is very important, having a clear project approval process ensures that all the tasks are accomplished as per business policies and standards.
2- Better decision-making – A well-laid-out project plan provides a structured framework for evaluating projects, which in turn enables better decision-making. This standard framework makes sure that projects are assessed objectively based on pre-defined criteria. Decisions on which project to pursue and which to reject can be taken, based on the details in the project plan.
3- Enhanced Accountability – The project approval process is streamlined when the roles and responsibilities and metrics for success are clearly defined. A clear definition ensures that everyone in the project understands their role and the project’s objectives. A well-defined project approval process makes it easy for the project to be delivered on time, within the budget, and as per the required quality standards.
4- Improved collaboration – Active involvement of all the stakeholders is necessary from the beginning of the project. Ensuring that everyone in the project is involved and is aware of the status and progress, facilitates transparency and improves trust.
It is not enough if we simply create a project approval workflow , we need to ensure that the workflow is streamlined and delivers optimal results. We have put together 5 best practices in the project approval process so that expected outcomes are delivered each time.
Clear definition of project scope and objectives – The most important condition for the project plan to get approved is that it has a clear definition of what the project intends to accomplish. A project plan that clearly defines the intent and scope of the project helps stakeholders easily understand what the project is for. While defining the objectives, it is important to identify and involve all the stakeholders that are impacted by the project. Stakeholders are usually the team members, customers, partners, and regulators. Involving all these stakeholders ensures that the project aligns with their needs and requirements.
Develop a detailed plan – The more detailed the project plan is, the better the chances that it will get approved. The project plan must outline all the tasks, timelines, and dependencies, for getting the plan approval. The scope of the plan must be comprehensive to include all aspects, right from initial scoping to delivery.
Establish a clear approval process – Establishing a clear and transparent approval hierarchy is very important to ensure that there are no bottlenecks in the workflow. Clarity of who is responsible for what is essential to avoid any confusion or overlooks during approval. You must establish –
Establish a clear line of communication – Effective communication is essential for any process to operate without any bottlenecks. Especially in approval-based processes, a clear communication line ensures that approvals do not fall through the cracks. Make sure that communication throughout the project approval process is established at the beginning itself. Stakeholders must be updated on the progress of every stage of the process. Progress, milestones, and any changes to the project plan or scope must be documented and communicated to the stakeholders.
Track the progress – In some projects, approvals are needed at every stage of the workflow, while for others, sign-off/approval might be required only at the beginning and end stages of the project. Nevertheless, it is important to monitor the progress of the process at all times so that we can ensure that the project is on track and aligned with objectives. In addition to tracking the progress of the process, the stakeholders must be provided with relevant reports on the progress. Regular monitoring and reporting ensure that any issues or digressing can be promptly identified and resolved.
Build fully-customizable, no code process workflows in a jiffy., automating the project plan approval.
We have talked in depth about the need for streamlining the project approval workflow, but how do we accomplish that? The best practices in the project plan approval process can be implemented by automating specific steps in the process. What does process automation do to the approval process? For starters, it eliminates redundant steps and automates repetitive, low-value tasks that eat up productive project hours. Redundancies in any process flow cause bottlenecks and delays. To get rid of such issues, it is important to automate tasks that are data-intensive and tedious.
How do you go about automating the project approval process? Here are a few tips that will ease out project approval process automation.
Specify project approval requirements – Identify the most frequented project types that your team works on that require approval from higher-ups. When you have this figured out, it becomes easy to look for the right automation solution that takes care of the requirements of your project.
Choose a powerful project approval tool – A solid project approval plan must be supported by the right approval automation tool. A capable project approval tool can drive up to 50% time savings in project approvals. The tool must be easy to use and understand, must provide real-time updates on request statuses, integrate the tool with existing business apps must be simple and seamless. Cflow is a no-code BPM tool that fits the bill perfectly for a feature-rich workflow automation tool with advanced automation features.
Ensure that stakeholders are kept in the loop – The approval automation tool must enable seamless collaboration between stakeholders to ensure that all of them are on the same page.
Share assets for review and approval – Sharing assets and documents for review and approval is greatly simplified when you use automation software. This is a must-have feature that ensures that all the relevant assets are shared with the respective stakeholder for review and approval. Sharing of thoughts, comments, and feedback is a must during the review process.
Integrate the feedback and resolve comments – The comments/feedback received from the reviewer must be implemented and marked as “resolved”. Once all the comments are resolved, the request can be resubmitted to the reviewer for final approval.
To make it easy for you to choose the right approval automation software, we have curated a list of the top 5 tools for 2023.
The more efficient your project plan approval process, the lesser time spent on mundane activities. Cflow brings powerful automation features to the project approval workflow, so you end up spending more time on productive project work rather than boring reviews and validations. Sign up for the free trial to see Cflow in action.
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Vice President Kamala Harris announced Minnesota Gov. Tim Walz as her running mate at an Aug. 6 rally in Philadelphia, sparking a flurry of online discussion about Walz and his background.
It wasn't all accurate.
Walz, formerly unknown by a majority of Americans, is now preparing to take the stage as the keynote speaker for tonight's Democratic National Convention. Here's a roundup of fact checks about Walz from the USA TODAY Fact-Check team.
More from the Fact-Check Team: How we pick and research claims | Email newsletter | Facebook page
Our rating: False
The claims are fabrications, according to the publisher of the satirical Facebook account where they originated. Walz's actual net worth is far lower.
Full fact check: Tim Walz has $138 million net worth? No, that started as satire
This claim oversimplifies Walz's reaction to the 2020 protests. After witnessing the escalating violence in Minneapolis, Walz discussed the activation of the National Guard with the city's mayor, calling on the Guard three days after the murder of George Floyd. As the protests grew more violent, Walz increased the number of mobilized Guardsmen.
Full fact check explainer: GOP critics say Tim Walz 'let Minnesota burn' in 2020 protests. Here's what happened
The bill Walz signed into law does no such thing. The state's definition of sexual orientation does not include pedophilia.
Full fact check: No, Tim Walz did not sign bill including pedophilia as 'sexual orientation'
Our rating: Partly false
The list for Walz is correct, but the post understates the number of awards and medals Vance earned during his military career.
Full fact check: JD Vance's military achievements misrepresented in viral post
The full context of this clip shows Walz's ladder factory reference was part of an argument that a wall is an ineffective way to secure a border. Walz didn't reference or say he supports helping anyone enter the U.S. illegally.
Full fact check: Walz ladder factory comment was argument border wall is ineffective
Walz was a coach for a Minnesota high school football team when it won a state championship in 1999, according to local news reporting.
Full fact check: Tim Walz coached for high school football team that won state championship
The post misrepresents two legislative actions. Noncitizens aren't allowed to vote, and vetoing the SAVE bill would not change that or violate any laws to constitute "cheating." Minnesota's automatic voter registration bill, signed by Gov. Tim Walz, the Democratic vice-presidential nominee, does not allow noncitizens of any status to vote in state or federal elections.
Full fact check: Walz, Biden actions don't allow noncitizens to vote
Our rating: Altered
Images and videos from the event pictured show the background included a sign that said, “Kamala and the Coach,” not "Revolutionary Communists of America."
Full fact check: Harris and Walz posing with a communist sign? No, image is altered
Images and videos from the Aug. 7 event show a large crowd was present to greet Harris and Walz.
Full fact check: Images and videos show thousands attended Harris rally in Michigan
The image doesn't show a real graphic broadcast on Fox Business, a spokesperson said. It was created as satire and is now being misrepresented as being authentic.
Full fact check: No, Fox Business didn't air graphic about Tim Walz's 'communist agenda'
Walz has not stepped down as Minnesota's governor, and Flanagan has not become the state's governor. Walz is also not required to leave office to run with Harris in the 2024 presidential election.
Full fact check: Gov. Walz does not need to resign after VP selection
Thank you for supporting our journalism. You can subscribe to our print edition, ad-free app or e-newspaper here .
USA TODAY is a verified signatory of the International Fact-Checking Network, which requires a demonstrated commitment to nonpartisanship, fairness and transparency. Our fact-check work is supported in part by a grant from Meta .
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Writing a business plan can seem like a big task, especially if you’re starting a business for the first time and don’t have a financial background. After all, business plans have changed over the years, and what lenders and investors expect now is different than it was even just 10 years ago.
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Learn more about how you can get value out of your business plan .
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The brief summary of your business plan introduces everyone to your business, the problem you solve, and what you’re asking from your readers. It’s the first chapter of your business plan and the last thing you write once you have the details from your full plan.
More than a simple description of your products and services – here you define the problem you’re solving and the value you provide. It’s also your chance to showcase any initial traction that shows you’re on the right track.
A detailed assessment of the market you intend to enter, including the size and value of the market, potential customer segments, and their buying patterns.
Show that you know who your competitors are, what advantages you have, and how you’re positioning your business to be competitive.
Describe how you’ll reach and sell to potential customers with a detailed sales plan and chosen marketing channels.
What makes your business run? Outline the day-to-day workflows and what needs to be set up for your business to deliver a product or service.
Set goals for your business that include the dates and people responsible for accomplishing them. This is what you’ll use to manage responsibilities, track growth, and execute your larger strategy.
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While not required, this last section of your business plan is a great place to drop in additional documents that support and strengthen the rest of your plan.
If you’re exploring a business idea and don’t plan to pursue funding, then you actually don’t need to write a traditional business plan. Instead, opt for a one-page plan , which is far easier to create but just as effective.
To write a simple one-page business plan, follow the same core sections as a traditional plan. But instead of lengthy paragraphs and multiple pages covering each area of your business, stick with single sentences and bulleted lists.
If a one-page plan sounds like a better option, download our free simple one-page business plan template to get started.
Whether you're writing a business plan to validate your business idea, secure funding, or grow your existing business – our free business plan template will help you achieve your goals.
Business plan template FAQ
What file formats are available for this business plan template?
Our free template is available to download in a number of common file formats including Google Docs, Microsoft Word (doc.x), or as a free business plan PDF .
Can you print out this template for a business plan?
This is a printable template—no matter if you download it as a pdf or word document, or access via Google Docs. The template is pre-formatted and structured to fit lender and investor standards, but can be edited and adjusted to suite your needs before printing. Just be aware that any changes may unintentionally break the template, so make sure to review before printing.
Why should I start with a business plan template?
You should start with a good business plan template (like this one) to avoid having to make guesses about what to include in your business plan and how to structure the document. This template helps you organize your thoughts, and provides guidance, instructions, and examples to create an investor-ready and SBA-approved business plan format. It really speeds up the planning process. Oh, and it's 100% free!
Can I write a business plan myself?
You can absolutely write a business plan by yourself. Millions of entrepreneurs have been in your exact situation and have been able to write complete, detailed, and useful business plans. By using a template, you can speed up the writing process, avoid costly mistakes, and write your business plan without having to pay for additional support.
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How many hours does it take to write a business plan?
It can take as little as 30-minutes to write a fully functioning business plan. However, if you need to create a more detailed business plan it can take multiple hours to actually write the full document. To save yourself time, be sure to pick an appropriate plan type for your intended use case. Additionally, do any necessary research and collect your notes and other documentation beforehand so that you can focus all your effort on writing your business plan.
How can I write a simple business plan?
To write a simple business plan it's best to use a one-page business plan format. A one-page business plan includes all of the same components as a more detailed business plan but is designed to fit on a single page—making it more useful as an internal planning tool. If you still want to use a traditional business plan template, just focus on using bulleted lists and short sentences while writing to create a simpler business plan.
Is writing a business plan easy?
Writing a business plan can be easy if you use the right tools, understand your business, and come in prepared to write your business plan. Using a template can make writing a business plan easier. Additionally, if you focus on just getting your information down quickly, with the expectation that you'll revisit and revise your plan, you can speed up and simplify the process .
Can someone else write my business plan for me?
Yes, you can hire a professional business plan writer to write your business plan for you. Working with a professional can be especially useful if you're still struggling to write your business plan even when using a template for your business plan. Just be prepared to talk about your business, provide the appropriate details, and review the finished plan to be sure it actually reflects your business. If you need help vetting professional business plan writers, check out our free resource to help you ask just the right questions of potential plan writers.
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Post by attahaas » Sun Aug 24, 2014 5:02 pm
Post by cpmlkhan » Mon Aug 25, 2014 12:27 am
attahaas wrote: I know that there is NO requirement as per the guidance to submit a business plan along with your application for Tier 1 (Entrepreneur) Visa. However, everyone on this forum has suggested otherwise to improve the chances of approval. I would like to know answers for 2 specific situations as below: 1. Did anyone get the visa approved WITHOUT submitting a business plan? 2. Did anyone get a refusal ONLY because they didn't submit a business plan and strictly NO other reason listed? If your answer is "YES" to any of the above questions, please share your experience here. If you have any other reasons for refusal, then please refrain from responding to this post. I want to keep this thread clear for the importance of business plan only. Thanks for understanding. Regards.
Post by MTZ510 » Mon Aug 25, 2014 12:55 am
Post by attahaas » Mon Aug 25, 2014 2:41 am
MTZ510 wrote: I am no expert but how you expect to clear genuine entrepreneur test without submitting a Business Plan.
Post by Momi » Mon Aug 25, 2014 3:37 am
Post by attahaas » Mon Aug 25, 2014 3:57 am
cpmlkhan wrote: Hello attahaas, Yes some applications been approved without business plan, I Can not give you any particular reference but there were some in this forum back in 2013. BUT in theory a start up business need a good business plan, this is how Case worker judge that how focus you are for your business etc. I always prefer to attach a business plan though its not compulsory but It works positive for your case. Hope this is the answer of your question. Regards
Interview the viability and credibility of the applicant’s business plan
EO consideration: credibility of the applicant and their funds A business plan and any market research (if the business is in its infancy) to assess how much consideration the applicant has put into starting up, these can be purchased as a package, so plans that appear general may not be useful.
Post by attahaas » Mon Aug 25, 2014 4:08 am
Momi wrote: It's common sense if you are doing a business then you need a plan. Don't blame others for that. Just make sure that your business is trading properly. Business plan is a secondary thing. Hope you will get your visa.
Post by Momi » Mon Aug 25, 2014 1:07 pm
Post by attahaas » Mon Aug 25, 2014 2:44 pm
Momi wrote: Who is telling you all these news. I haven't seen them. Post the link please. There were couple of arrest because people were working on NI number. But they released on bail later. Now let's come to your question. After 11th July you need to present your case properly. If you registered your company on 11 July or later then don't apply. There were few people who got visa without business plan but it happened in early 2013. One of my friend got visa without business plan but he spent almost 1500-1800£ on advertisements only. I personally spend 500£ on the time of application and still I'm advertising on new papers and google. My advise is that you must write a business plan which you can explain in interview. Best of luck.
Post by Momi » Mon Aug 25, 2014 2:52 pm
Post by Etrigan » Mon Aug 25, 2014 4:01 pm
Post by attahaas » Mon Aug 25, 2014 5:06 pm
Post by lilboots » Mon Aug 25, 2014 6:30 pm
Post by Etrigan » Mon Aug 25, 2014 11:02 pm
attahaas wrote: @Etrigan I don't think you have read my post and responses in this thread clearly or understood it, otherwise you wouldn't be stating the obvious. Also, if you read (I wouldn't expect you to) any of my earlier posts you would realise you are preaching to the choir. Your response is totally irrelevant to my query. It may applicable to someone who is looking for advice on precautions to write a business plan and I didn't ask for one. So, thanks but no thanks for your response. And, congrats on your visa.
Post by Momi » Tue Aug 26, 2014 12:30 am
Post by attahaas » Tue Aug 26, 2014 3:16 am
lilboots wrote: THE ATTAHAAS SHOW . Let us know how you get on with your application. I guess a couple of us will learn from it esp on the merits and de-merit of applying with a business plan post-july 11. Good luck mate
Post by attahaas » Tue Aug 26, 2014 3:35 am
Post by Wanderer » Tue Aug 26, 2014 9:12 am
Post by attahaas » Tue Aug 26, 2014 9:29 am
Wanderer wrote: I've been in business for many, many years and I wouldn't dream of approaching anyone without a proper business plan, it's just common sense. Anything else is just amateurish....
Return to “UK Tier 1 (Entrepreneur) visas”
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The vice president supports the tax increases proposed by the Biden White House, according to her campaign.
By Andrew Duehren
Reporting from Washington
In a campaign otherwise light on policy specifics, Vice President Kamala Harris this week quietly rolled out her most detailed, far-ranging proposal yet: nearly $5 trillion in tax increases over a decade.
That’s how much more revenue the federal government would raise if it adopted a number of tax increases that President Biden proposed in the spring . Ms. Harris’s campaign said this week that she supported those tax hikes, which were thoroughly laid out in the most recent federal budget plan prepared by the Biden administration.
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Bengaluru: Walt Disney Co and Reliance Industries won approval on Wednesday for an $8.5 billion merger of their Indian media assets after assuaging regulatory worries about their grip on broadcasting rights for cricket, India's favourite sport.
The Competition Commission of India (CCI) said the deal had been approved subject to modifications submitted voluntarily by the companies without sharing further details. A detailed order will be issued in the coming days, clearing what was seen as the biggest hurdle for the deal.
To get the merger over the line, the two companies have offered concessions, including a commitment not to raise advertising rates unreasonably for streamed cricket matches and to sell 7-8 non-sports TV channels, a source familiar with the matter said.
The merger will create India's biggest entertainment player, with 120 TV channels and two streaming services, to compete with Sony, Netflix, and Amazon.
It will also give Reliance owner Mukesh Ambani, Asia's richest person, a stronger hold on the $28 billion media and entertainment sector. The regulatory nod comes a day before Ambani is set to address Reliance shareholders at its Annual General Meeting.
After asking Reliance and Disney around 100 questions related to the merger, the CCI raised concerns the new entity would control most cricket rights for TV and streaming in India, and could hurt advertisers.
Cricket has a fanatical following in India, the world's most populous country with an estimated 1.4 billion people. In recent years, Reliance and Disney have spent roughly $9.5 billion on TV and streaming rights for the world's richest cricket tournament, the Indian Premier League, the International Cricket Council's matches, such as the one-day and T20 World Cups, and matches organised by the Indian cricket board.
The source added that the companies also pledged not to bundle and sell advertising slots for different cricket tournaments and kept subscription rates for their offerings under regulatory limits.
Neither Reliance nor Disney immediately responded to requests for comment. Over the years, both companies have offered free viewing of cricket matches to attract users to their streaming platforms, hoping they will then buy subscriptions.
Karan Taurani, an analyst at India's Elara Capital, said the deal should close within six months as it still needs approval from an Indian companies tribunal, which is expected to be granted.
Disney and Reliance's merged entity will also own Indian broadcast rights for the Wimbledon tennis championship, MotoGP and the English Premier League, among other sporting events.
Jefferies has said the Disney-Reliance entity will have a 40% share of the Indian advertising market in the TV and streaming segments. Companies spent nearly $2 billion in India in 2023 on sports-related sponsorship, endorsement and media, media agency GroupM estimates, with cricket accounting for 87% of the spend.
Reliance will be the majority owner of the merged company, which will be chaired by Ambani's wife Nita Ambani, who has experience in the arts and ties with Bollywood.
KK Sharma, a former head of mergers at the CCI, has said the deal, if approved, would create "a big fish in the broadcasting market" that would practically have a "monopoly on cricket advertisement revenues."
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A good business plan guides you through each stage of starting and managing your business. You'll use your business plan as a roadmap for how to structure, run, and grow your new business. It's a way to think through the key elements of your business. Business plans can help you get funding or bring on new business partners.
The Best Business Plan Software of 2024. Wrike: Best overall. Smartsheet: Best for goal management. LivePlan: Best for financial forecasting. Aha!: Best for roadmapping. Bizplan: Best for ...
Step 1: Write Your Executive Summary. Think of the executive summary as the highlight reel of your business plan. It's the first thing people will read, so it needs to be clear, concise, and compelling. Even though it comes first in your plan, it's often best to write it last after you've worked out all the details.
1. Create Your Executive Summary. The executive summary is a snapshot of your business or a high-level overview of your business purposes and plans. Although the executive summary is the first section in your business plan, most people write it last. The length of the executive summary is not more than two pages.
Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. A good business plan is much more than just a document that you write once and forget about. It's also a guide that helps you outline and achieve your goals. After completing your plan, you can ...
Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...
Step 2: Do your market research homework. The next step in writing a business plan is to conduct market research. This involves gathering information about your target market (or customer persona), your competition, and the industry as a whole. You can use a variety of research methods such as surveys, focus groups, and online research to ...
Determine how you can best reach potential customers. Evaluate your competition. Your marketing plan must set you apart from your competition, and you can't stand out unless you know your ...
Here's every reason why you need a business plan. 1. Business planning is proven to help you grow 30 percent faster. Writing a business plan isn't about producing a document that accurately predicts the future of your company. The process of writing your plan is what's important. Writing your plan and reviewing it regularly gives you a ...
Business Plan Template. A lender-approved fill-in-the-blanks resource crafted by business planning experts to help you write a great business plan. Business Plan Template. Guide. ... There is no target length for a business plan. It should be as long as you need it to be. A good rule of thumb is to go as short as possible, without missing any ...
Don't forget to download our free business plan template (mentioned just above) so you can follow along as we go. How to Write a Business Plan Step 1. Create a Cover Page. The first thing investors will see is the cover page for your business plan. Make sure it looks professional.
The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit in the current market or are ...
You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals. 4. Strategic Initiatives. A strategic business plan is another business plan that's often shared internally.
1. Cover Page and Table of Contents. Your business plan for a loan application is a professional document, so be sure it looks professional. The cover page should contain the name of your business and your contact information. If you have a logo, it should go on the cover.
Rice University's Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea), requires an executive summary of up to five pages to apply. 51, 52 Its suggested sections are shown in Table 11.2.
As important as avoiding these pitfalls is understanding there is a significant difference between a strategic plan and a business plan. Strategic plans center on choice around a company's most critical go-forward imperatives, with resource tradeoffs inherent in those choices. They are about saying No more than saying Yes to business-as-usual ...
Approved Business Plan. The Executive Committee shall cooperate in good faith to approve a Business Plan for each Fiscal Year, subject to approval of the NSAM Designees (to the extent required) in accordance with Section 5.3(c). An initial draft of the Business Plan with respect to any Fiscal Year (other than 2015) shall be delivered to NSAM Member no later than November 1 of the immediately ...
Yes or No: Examples of When to Use Approval Sheets. ... Is the document a case study approval sheet? A business plan approval sheet? Or maybe a narrative report approval sheet? Write it down. Step 2: Insert the Introductory Statement. To expand the header's message, include an introductory statement. This part explains what the approval form ...
A business plan, on the other hand, is a detailed plan that outlines the steps a company will take to achieve its short-term goals and to operate on a daily basis. It typically covers a one to three-year time period and includes detailed financial projections, marketing plans, and operational strategies. A business plan is a critical tool for ...
A business plan is a factual broad description of a company and its prospects. A business proposal is a focused sales document intended to describe how a company will approach a project, state the value of the project to the client, and solicit the client's business. A business plan is a written presentation of facts.
The project approval workflow can be broken down into 5 stages listed below -. 1. Project Initiation - This stage of the project is where the project's scope, objectives, and requirements are defined. During the initiation stage, potential stakeholders and their needs and expectations are also assessed. 2.
No, image is altered. Claim: 'No one' attended Aug. 7 Harris and Walz rally in Michigan. Our rating: False. Images and videos from the Aug. 7 event show a large crowd was present to greet Harris ...
Download a free business plan template in Google Doc, Microsoft Word, and PDF formats. ... and provides guidance, instructions, and examples to create an investor-ready and SBA-approved business plan format. It really speeds up the planning process. Oh, and it's 100% free! ... Yes, you can hire a professional business plan writer to write your ...
I know that there is NO requirement as per the guidance to submit a business plan along with your application for Tier 1 (Entrepreneur) Visa. However, everyone on this forum has suggested otherwise to improve the chances of approval. I would like to know answers for 2 specific situations as below: 1.
As immigration continues to be a hot issue in the 2024 elections, California is voting on a law this week that could open up $150,000 in down payment assistance to migrants. Assembly Bill 1840 was ...
No one making less than $400,000 a year would see their taxes go up under the plan. Instead, Ms. Harris is seeking to significantly raise taxes on the wealthiest Americans and large corporations.
The standard 30-year fixed-rate mortgage started to fall earlier this year and recently plunged to its lowest level in more than a year, according to data from mortgage financing giant Freddie Mac.
Cricket has a fanatical following in India, the world's most populous country with an estimated 1.4 billion people. In recent years, Reliance and Disney have spent roughly $9.5 billion on TV and streaming rights for the world's richest cricket tournament, the Indian Premier League, the International Cricket Council's matches, such as the one-day and T20 World Cups, and matches organised by the ...
The California Business Search is updated as documents are approved. The data provided is not a complete or certified record. Although every attempt has been made to ensure that the information contained in the database is accurate, the Secretary of State's office is not responsible for any loss, consequence, or damage resulting directly or ...
One place to plan campaigns, create and launch briefs, and orchestrate work — Workfront connects once-fragmented planning data so it can be structured to derive meaningful project insights and visualizations. ... Help your teams easily collaborate across projects and applications with automated review and approval capabilities, AI-assisted ...