What should a business plan include? Organization and management

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A business plan is a comprehensive document that describes a business venture. It helps organize certain issues and shows the company’s market potential. One of the mandatory sections of a business plan concerns the organization and management of the company. What should such a section include? Read our article and find out.

Organization and management – ​​index:
Management and employees
Legal structure
Management team
Human Resources
Summary
Management and employees
First, let’s explain why it’s so important to include information about management and employees in your business plan. This is where you need to prove that you have a qualified team to launch and run your startup. If you haven’t hired anyone yet, you need to define who you really need and when you’re going to hire them.

This section should convince potential investors or bank bahamas whatsapp number database that your venture has the potential, structure, and people to achieve its business goal. It is also important for startup founders, as it shows them what resources they already have, what they need, and what kind of people they should hire.

Such a section in a business plan should consist of several parts. The first should focus on the structure of the company, the next on the internal and external management team, and the last on the presentation of the available human resources.

Legal structure
This part of the business plan should begin with a presentation of the legal structure of the company. There is no need to provide too many details here. In the case of individual entrepreneurs, one sentence will be enough. Slightly more detailed information will be required in the case of corporations . This is because it is necessary to clarify the size of each person's share in the company.

organization and management
Management team
This part of the description should include information about the company’s management. You should specify who is responsible for each area of ​​the startup’s operations. Creating brief profiles of the management team members will be helpful.

Of course, the management structure may vary depending on the specifics and needs of the company. In some organizations, it is enough to have one person managing sales, marketing, administration and production, while others will still need a human resources department. It all depends on the circumstances. However, it is worth noting that it is not necessary to have a person for each management area. Functions can be combined depending on the needs and capabilities of the startup.

The description should identify key managers and explain their roles and experience. Add managers’ resumes as attachments. Additionally, you should provide information about managers’ salaries and contract types.

Human Resources
You should determine how many employees your startup will need at each stage of development and how much it will cost. You should describe exactly how your staffing needs will be met, whether you will rely on full-time employees or hired specialists. You should describe the skills that people hired for various positions will need to have. Calculate labor costs and specify the number of employees. It is also a good idea to provide the salaries of at least the company's key employees.

Organization and management – ​​summary
A good business plan describes the current situation, but focuses primarily on the future and the company's plans. The management and human resources section is important because it shows not only the cost of employment, but also the potential of the team with which you plan to build your business.