Assignment 4: Business Plan--Final

Nice job with creating your company, product, and justifying the company name in detail. The company name is your brand and should be unique and easy to remember. Clarifying what your product does and how it will achieve its intended purpose is critical for securing funding from the investors and to clarify how your product is different than the other similar products already available on the market. The company description section of the business plan can also include brief information about management and leadership, business location, milestones achieved to date, and the financial status of the company.

Great job with the mission statement. What really impressed me the most, was your thorough support and rationale in explaining the components. he mission statement represents what your company stands for in the present. It also shows that you understand the focus of your company and you can articulate your objectives concisely. It is your opportunity to tell the world what your company stands and it determines the company's direction. This is also a reminder to all employees about what makes the company successful and it is a points of reference keeping everyone clear on the direction of the organization.

You have done a good job in this section. It is important to understand the trends in your industry so that you can identify patterns or take advantage of opportunities. You should pay attention to past performance and growth projections. Evaluating the industry increases your knowledge about the factors that contribute to your company's success and also shows potential investors that you understand external business conditions in which your company operates. It will also allow you to identify opportunities for your business.

Great work! You demonstrated understanding of the strategic position and how it helps you establish a position in the market, clarifying what sets you apart from other companies. A clear strategic position influences every aspect of your business, such as development of new products, marketing approaches, operations, and location. Your strategic position can evolve over time. When you find opportunities in the market, you will always have to identify a strategic position to distinguish your company from others.

I like how you described the distribution approach and how your product will reach the end users. Nice job justifying your selection. To increase the sales, you want to distribute the product in the most effective way to reach the end user, your target market.

Nicely done! You selected 3 types of risks and you also provided a detailed explanation on how you plan to mitigate these risks. Risk assessment helps you prepare and prevent threats to the success of your business and act quickly when needed. It also shows investors that you understand the risks involved and that you are likely to know what to do. Good work!

Great job outlining the items in the SWOT matrix. You have proven that you understand how to analyze organizations from a SWOT analysis standpoint. The SWOT analysis determines what assists the firm in accomplishing its objectives, and what obstacles it must overcome or minimize to achieve desired results. Great job providing additional information under the matrix.

Great job with the format, organization, and grammar.