Billy's blog

I agree with Clarisse Ong and her opinions regarding the fact that business’ need to have a succession plan.  Businesses have to be prepared for the constantly changing environment that they operate in. They cant be hardened in their ways, otherwise they run the risk of falling behind and disappearing. However, predicting changes in consumer demands is difficult and requires great insight and instinct.

I also agree with Clarisse’s opinion regarding the necessity of a business plan. As we learned from doing the business plan assignments, a business plan definitely provides guidance and helps with raising funding for business ventures. An effective business plan explains what and how a business plans to achieve its business goals. This would definitely come in handy if a business were to attempt to create a succession plan.