Some of personal most significant long-term goals include securing a well-paying job, and then balancing personal goals as well as needs of the firm. Additionally, maintaining a good relationship with colleagues within the firm to learn the operations of the company to gain efficiency, hence realizing the objectives of the organization and having professional growth. Another long-term goal is developing good investing and savings habits as well as creates a financial plan. It is necessary to save for old age or retirement; additionally, good savings habit can help in accumulating adequate cash for retirement years.
The development of a financial plan within a novel business can face many challenges. Some of the difficulties include several variables that will affect the new business financial outcomes, and every one of them is challenging to forecast (Peris-Ortiz and Sahut 183-185). Consumer behavior is particularly challenging to forecast; how the customers can respond to the changes in price charged or the products of the new business is normally hard to forecast even with a study. Variations in cost factors may also result in significant variations or changes. For instance, the adverse effects of rises in the prices of fuel may be severe for new business. Additionally, the challenge of implementing a business model, which has not been attempted before has the disadvantage of the little information available or existing on which to anchor the financial plan (Peris-Ortiz and Sahut 183-185).
The rationale of an executive summary is offering an overview of the content of a long document, including significant recommendations as well as conclusions to enable the reader capture the summary as well as gain a full understanding of the content of the report or document without going through the entire report (Griffin 119). The content of an executive summary should include key points of the report, recommendations, as well as analyzes. More often than not, an executive who has no time reads an executive summary. Executives include prospective investors, managers, chief executive officers, and lenders.
Works Cited
Griffin, Darrell. Business with a Purpose: Starting, Building, Managing and Protecting Your New Business. Denver: Outskirts Press, 2010. Print.
Peris-Ortiz, Marta, and Jean-Michel Sahut. New Challenges in Entrepreneurship and Finance: Examining the Prospects for Sustainable Business Development, Performance, Innovation, and Economic Growth. N.p., 2014. Print.
