Process of Planning a Business Outline Reading Assignment
Below are links to 3 articles about BUSINESS PLANS that describe what they are and how to write them. While the selected articles are not a comprehensive listing of all the known methods of business plan writing, they do represent a basic introduction to the subject.
These reading materials contain the information that you need to complete your assignment
1.“What Exactly Is A Business Plan”(http://www.inc.com/articles/201105/what-exactly-is-a-business-plan.html) – This short article gives a brief description of business plans and focuses primarily on the purpose, or “reason for being“, of a business plan. Look for the phrase “process of planning a business” in the article; what does this mean?
2.”Writing A Business Plan”(http://www.youtube.com/watch?v=LcuiS294bZo) – This YouTube video, by Sweet Leaf Ice Tea CEO Clayton Christopher, gives a brief description of how to write two kinds of business plans, (1) for running an existing business, and (2) for seeking investors for a new business venture. As you watch this video, note the differences in the two types of business plans.
3.”A Standard Business Plan Outline”(http://articles.bplans.com/writing-a-business-plan/a-standard-business-plan-outline/29) – This bplan.com article walks through a basic business plan outline, describing each section and its purpose. The article provides a simple outline, and a much more detailed one. Why do you think there is so much variation between the two?
The deliverable for this homework assignment is a Word Document Mini Business Plan that you and your team mates will create for a new business concept.
You will select your own team of 5 students to complete this assignment
THE SITUATION: You and your team mates are recent summa cum laude Business Major graduates from TopTenBusiness University. Process of Planning a Business Outline You have come up with a KILLER business concept and are eager to get it going. Despite the skeptical market for starting new businesses, you are confident if you have a good business plan, you will be able to secure the funding that you need to get your idea off the ground!!!
THE CONCEPT – You may choose one of the following three concepts as your topic to use for the Final Project or you may supply your own concept. If you supply your own, please make sure that describe the concept fully in the business plan. If you use one of the following three, please reference the appropriate concept:
CONCEPT 1: It IS Easy Being Green …
Recognizing the increasing importance that social responsibility is playing in the business world, you and your team mates would like to make and distribute a new line of organic ethical clothing for men, women and children. As luck would have it, one of the members on the team does this already on an small scale, so she knows how to do it.
You must create a business plan to request support to expand the team mates existing small scale production into a larger scale one.
CONCEPT 2: Watch Out Ben & Jerry, Here We Come!
In your spare time, you and your team mates have gotten really good at making gourmet ice cream and everyone who’s tasted your stuff says you should go into business, because it tastes much better than anything out there now! You seem to have a knack for putting together unlikely flavors that taste really good together, like Anchor Steam Beer and Chocolate Covered Pretzels, Lavender Honeysuckle, and Wasabi Sake Coconut.
Your task is to draft a business plan to request support to start up a single store to sell your ice cream
CONCEPT 3: No Pain, No Gain!
You and your team mates are all fitness experts and want to capitalize on the American obsession with fitness. You want to build a series of fitness gyms similar to Gold’s Gym or 24 Hour Fitness with a new twist to bring in members from Gen Y and Gen Z.
Your assignment is to build a business plan to request assistance to develop and establish (and name) your new line of fitness gyms. Process of Planning a Business Outline
The Mini Process of Planning a Business Outline
(20 Points): For this project, you will be asked to write a mini version of a business plan that will include sections as indicated below. For each section, use the questions and actions listed to help write the sections. Where appropriate, make sure to refer to the appropriate Entrepreneurship Building Blocks to complete the sections:
1.Executive Summary (0.5 page): Write this section after you have completed the rest of the Mini Business Plan. Include a brief summary of the major points of your business concept. Think of it as ELEVATOR PITCH (Building Block 1) that you are giving to an important venture capitalist in an effort to convince her to support your idea.
2.Company Description (0.5 page):
?Describe the company that you want to create
?What is the company MISSION STATEMENT (Building Block 2)?
3.Product or Service Description (1.5 page):
?Describe what you are selling
?What are the key product/service features and customer benefits?
?What makes your product, service or idea unique or different? Process of Planning a Business Outline
?What is your BUSINESS MODEL (Building Block 3), or how will you make money?
4.Market Analysis (2 pages):
?Perform a brief COMPETITIVE ANALYSIS (Building Block 4). For this analysis, identify 2-3 competitors who are selling the same or similar products/services, and state how you can compete with them
?Describe your TARGET MARKET (Building Block 5) (including rough estimate of size and potential), describe the primary characteristics of customers in this market, and state the reasons that make them the ideal target for your product/service.
?Conduct a SWOT ANALYSIS (Building Block 6). How will you use your strengths to exploit your opportunities, and protect against your threats? How will you address your weaknesses?
?Estimate a simple projected INCOME STATEMENT (Building Block 7) for the first year of business. Identify any significant line items in revenue and expenses to determine your net income for the year. Give rough substantiation for the numbers in your statement. Be sure to make it.
?Conduct simple BREAKEVEN ANALYSIS (Building Block 8) to tell me when you expect to break even. List any assumptions or constraints that you made to complete the calculation.
5.Strategy & Implementation (1.5 pages):
?Are there any business functions or initiatives that require special focus or strategic guidance (e.g. setup, research, manufacturing, operations, sales, HR, IT, etc.) ?
?What is your marketing strategy (product, pricing, promotion, distribution) Process of Planning a Business Outline
?How will you know if you are doing well or not?
Process of Planning a Business Outline Grading Criteria
•Remember to apply the Entrepreneurship Building Block Lessons to the sections you write Process of Planning a Business Outline
•Make sure that your section is well integrated into the business plan as a whole; no Frankenstein monster reports, please.
1.Quality of Analysis – this focuses on your critical thinking, reasoning, logic and analytical skills. Are your arguments reasonably well thought out? Do they make sense?
2.Quality of Writing – While this is not an English or writing class, I still have certain expectations in written material. Specifically, basic grammar and spelling are expected. Clear and concise writing in a professional manner.
3.Presentation and Delivery – All sections identified above need to be present. Process of Planning a Business Outline Please include headings for each section. Organize your writing where appropriate, using tables and illustrations if necessary
That’s a team work assignment,for my part i just need to do part 4(Market Analysis) and we using CONCEPT 2: Watch Out Ben & Jerry, Here We Come!
Please do not copy any sentences from Internet. Process of Planning a Business Outline