Learning Goal: I’m working on a business plans multi-part question and need the explanation and answer to help me learn.
Business Plan Assignment
Please come up with an idea for a business that you might want to establish and create a business plan for that business.
Requirements:
- Create a Business Plan in a Word Document separated into sections.
- Should be between 7-10 pages long.
- Please fix spelling and grammar.
- Submit the final Business Plan through Blackboard by Wednesday May 31, at 11:59 P.M.
- If you want feedback, send me a draft through email by May 10.
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Cover Page |
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Must include the business name, document title, contact information and address. Can also include a logo and tagline/slogan (optional). |
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Section 1: Introduction |
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A statement of confidentiality to keep important information away from potential competitors. Example of Statement of Confidentiality is included on page 4. |
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Section 2: Mission Statement |
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A mission statement is a short message that explains the company’s purpose and primary driver. Examples of Mission Statements are included on page 5. |
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Section 3: Executive Summary |
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A one-page overview of the entire business plan, including a justification why the business will succeed and how you plan to operate your business. What makes your business so unique and different or better than the ones in the same industry? |
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Section 4: Benefits to the Community |
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Information on how the business will have an impact on economic/community development. Will your business help create jobs in your community? How many jobs and what kind of jobs? |
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Section 5: Company and Industry |
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The background of the company, choice of the legal business form, information on the products or services to be offered, and examination of the potential customers, current competitors, and the businesss future. |
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Section 6: Management Team |
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Discuss the skills and job descriptions of your management team as well as managerial compensation. |
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Section 7: Manufacturing and Operations Plan |
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Discuss facility needs, space requirements (large, small?), capital equipment (do you need special equipment?), labor force, how you will keep track of inventory and purchasing. Example: To help with inventory control you can use spreadsheets and inventory management systems. |
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Section 8: Labor Force |
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Discuss how you will obtain skilled workers and how they will be trained. Also, how will they be compensated and how will you motivate them? Will there be bonuses or different perks in your company to keep them motivated? |
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Section 9: Marketing Plan |
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How you plan to market/promote, price, and distribute your items or service. Will you advertise online, tv ads, etc….? Will you sell your items online, in a store or both? Will you have special deals and sales? |
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Section 10: Financial Plan |
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Summary of the investment needed, projected sales/profits and sources you plan to use for funding. |
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Section 11: End Goal |
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What would you like your business to be long term? Do you want to keep it small or expand? Do you want to keep running the business or sell it? |
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Section 12: Critical Risks and Assumptions |
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Evaluation of the weaknesses of the business and how the company plans to deal with these and other business problems. Analyze the issues that might arise and your solutions to those issues. |
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Section 13: Appendix |
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Additional information crucial to the plan, such as rsums of owners and principal managers, advertising samples, organization chart, and any related information. Basically, anything extra that will make your Business Plan stand out. Include at least your resume, other items are optional. |
