Task 2

Action Plan
This shows steps that I will, or activities that I will perform for my strategy/ goal to succeed.
This action plan has three major elements: -

1) Specific tasks
2) Time Horizon
3) Resource allocation

Task Time expected Date of Monitoring Outcome

completion

Meeting for Will check that all the ideas were Finally I decided on
discussion of correct. three innovative ideas.
project ideas 3 days 28/08/2017

Market research I made 25 questionnaires and All three of the project

for 4 days 4/09/2017 distributed them to some pupils ideas were primarily
suitable project of the college. researched using
areas questionnaires and
were illustrated by pie
chart.
I decided to make some own Finally after some
Financed by 2 months 17/09/2017 savings as our teacher said us own savings, I get the
that it would be costly. right amount.

Raising I decided to invest about RS 400 After one month of

appropriate 2 months 10/05/2018 in the aim of making some own savings the
finance beneficial profits. amount of money that
I had targeted was
reached.

Base on a lucky draw that was The rector give us the

Set up a stall 3 session of 45 09/05/2018 organized by my teacher, my permission to set up
minutes each friends and I had got each other a our stall.
before the break. stall to sell their products.

1
Prepare a I will go through the presentation Base on my
presentation 2 weeks 27/03/2018 and slides to give a feedback of presentation which is
my strategy and goal to succeed. well prepared I move
forward with it.

Prepare a I will get a brief feedback on All sources of finance

Financial 1 week 08/03/2018 which sources of finance I that I required to
planning considerate for this project. establish.

Financial Planning:

Sources of finance chosen:-

Sources of finance considered and chosen.

Item Sources Advantage Disadvantage Sources of

Required in of finance finance chosen
our activity (with
justification)

Fees for Own Savings money It may be too low and My first
sando savings guarantees me to keep my risky for the owner. decision was
purchase income and to spend it that I would
later. ask my parents
of financial
support to help
me in this
Loan Our parents can provide It may be risky as we problematic
from us with financial aid with have returned them case to get
parents some personal there money as soon as some funds. I
agreements to be possible. decided to do
accepting. my own
savings as I
knew it would
be profitable
for me rather

2
than asked
them to
provide me
some funds for
my investment
in this asset.
So, after
debating the
pros and cons,
I chose the best

3
Projected budget

When establishing my budget into account I make sure that:

 It should cover whole journey of my business operation.

 Computer programs like Microsoft Excel will permit me to modify numbers quickly.
 I should work out a complete budget before beginning business operations.

Income and Expenditure Budget:

$ $ $
Loan from parents RS 0

Trade credit RS 0
Owner saving RS 400
Expected raising RS 300
Income from sales RS 384

Total income RS 1284

Raw Material RS 336

Total expenditure RS 336
Profits RS 748

This income and expenditure budget explain clearly all my income and expenses that I have
to pay the actual price to get my income and profits that I made. After collated all required
amount needed for it I made up this projected which describe all the amount that I needed to
spent for it.