Business Functions & Procedures. A hypothetical Business Plan

Table of Contents

1.0 Business Rationale
1.1 Introduction
1.2 Mission & Vision
1.3 Core Values
1.4 Goals & Objectives
1.5 Internal & External Governance

2.0 Market Research
2.1 SWOT Analysis
2.1.1 Strengths
2.1.2 Opportunities
2.1.3 Weaknesses
2.1.4 Threats

3.0 Industry Analysis
3.1 Competitors
3.2 Target Market and Services

4.0 Marketing Plan
4.1 Advertisement & Promotions

5.0 Investment and Profitability
5.1 Capital Injection
5.2 Breakeven analysis
5.3 Other financial needs

6.0 Action Plan

7.0 Conclusion

References

Appendix

1.0 Business Rationale

1.1 Introduction

The purpose of this business plan is to outline the strategic and financial framework for incorporating Beskar Technologies Ltd. as a leading Cybersecurity solutions provider within the country of Jamaica. Beskar Technologies Ltd. intends to achieve this through leveraging existing and emerging technologies within the market and through providing excellent Cybersecurity consultation and solutions to small, medium and large scaled businesses island wide. Beskar Technologies Ltd. is committed to exercising best practices as outlined in the Information Technology Infrastructure Library (ITIL) framework in order to help businesses identify, assess and manage Cybersecurity risks while strengthening customer relations and improving business processes. Our operations are governed by standards such as the NIST Cybersecurity Framework (CSF), ISO/IEC 27031, ISO/IEC 27032 and the National Cybersecurity Policy of Jamaica. Our aim is to achieve sustainable growth and development through the proper use of our technological, human and financial capital. We are committed to exercising our corporate social responsibility and contributing to research for new technologies. Beskar Technologies Ltd. is also dedicated to formulating and delivering corporate strategies, preparing accurate and reliable accounting information and contributing to the growth of Jamaica’s technology sector. Our core services include vulnerability assessment, penetration testing, security code review, infrastructure security audit and compliance testing. As our business grows, it is our desire to expand into different markets regionally and internationally. With this view, our team is committed to delivering unparalleled service to all our clients. Our headquarters is currently located at 15 Southdale Drive, Kingston 10 and was founded by Krishna Scarlett and Andrew Grant on the 1st of January 2020.

1.2 Mission & Vision

Every business should have a clearly defined mission and vision statement. These statements are crucial to identifying and outlining the business’ strategic direction. A mission statement explores the business’ functions and purpose within the market and seeks to answer the questions, who are we, what we do and why we are here. On the other hand; a vision statement can be defined as a business’ ultimate overarching objective for the long term and seeks to answer the question; where are we going (Thompson, Strickland & Gamble, 2015. p. 24).

Mission Statement

Our mission is to provide our clients with robust, reliable and affordable Cybersecurity solutions to safeguard against cyber-attacks mitigate Cybersecurity risks and preserve data integrity.

Vision Statement

Our vision is to become the Caribbean’s leading Cybersecurity solutions provider by fostering value added business relationships and leveraging new and evolving technologies.

1.3 Core Values

The core values of Beskar Technologies Ltd. includes value added service, transparency, accountability and integrity. These values form the culture of our business and support our mission and vision.

1.4 Goals & Objectives

Within the next two (2) to five (5) years, the nonfinancial goals of Beskar Technologies Ltd. include the establishment of a reputable company image by delivering the best Cybersecurity solutions to all our clients. Furthermore, we intend to become innovators within this industry as the local market and demand is still emerging. We have also partnered with the Information Systems Security Association (ISSA), a world leading association for Cybersecurity professionals. Through this association, we intend to leverage their network of Cybersecurity professionals and businesses for their wealth of knowledge and experience in the market. Within our first five years of operation, we intend to connect with Companies Island wide with key focus on the banking, insurance and health sector. Furthermore, we are strategically located at the heart of the island’s largest city, Kingston. This will grant us the opportunity to advertise and connect with some of the largest businesses on the island such as National Commercial Bank (NCB), Jamaica Money Market Brokers Limited (JMMB), Sagicor Investment Ltd and Victoria Mutual Building Society (VMBS) just to name a few. Within the next two (2) to five (5) years, our main financial goal will be to grow the business and achieve 3-5% growth rate for earnings per share per annum. We also intend to realize a minimum of 20% return on equity.

1.5 Internal & External Governance

Beskar Technologies Ltd. has been founded within the island of Jamaica. Therefore, our business is governed by the Companies Act of Jamaica (2005). Consequently, our business has been registered with the Companies Office of Jamaica as this is a mandatory requirement for legal operation. Furthermore, we have taken action and registered with the Tax Administration of Jamaica (TAJ) for a Tax Compliance Certificate (TCC). This is also mandatory and serves to ensure that our company is tax compliant; this in turn will help facilitate seamless processing of all statutory deductions. Beskar Technologies Ltd. will comply with all laws, rules and regulations as outlined by the relevant respective authorities. Our business was registered after February 1, 2005; therefore, in keeping with the Companies Act of Jamaica (2005), we were not required to submit an application for a Taxpayer Registration Number (TRN) as a TCC is sufficient. Beskar Technologies Ltd. is also governed by Jamaica’s Labor Relations and Industrial Disputes Act (1976). We stand ready to comply with any other laws and regulations to ensure the smooth and continuous operations of our business within the country of Jamaica.

Beskar Technologies Ltd. is governed by several directors whose roles are to develop and implement various strategies in line with business goals that will ultimately achieve the business’ mission and vision. Furthermore, the boards of directors are charged with the responsibility of simplifying these different strategies for supervisors to execute as Specific, Measurable, Achievable, Realistic and Timely (SMART) goals to their subordinates. Beskar Technologies Ltd. will remain committed to ensuring that resources are allocated and utilized efficiently within the formulation of strategies thereby enabling effective collaboration and consolidation of ideas, thoughts and processes across all our different operational teams.

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