Add 3 more pages to my business plan + TurnItIn report
goldenrocks
hwassignment8.docxBusiness Plan - TurnItIn
Length: 35 – 70 pages double-spaced pages. Students may find that they need to use more pages to cover the assignment.
Include: The Twelve Sections of a Business Plan
1. Executive Summary
The purpose of an Executive Summary is to write a brief description of your plan that allows the reader to gain the essence of the entire plan in less than two pages. It is intended to give a busy executive the key information and lead the reader to the sections that will answer the executive’s primary questions. It is not an introduction to the plan, as you may have written in typical papers. This Executive Summary, although positioned first in the project, should actually be written last. In this way you know what you are summarizing. Writing it earlier will cause it to tend towards a traditional introduction. The elements of an executive summary are:
· Purpose of the plan (attract investors, diversification, etc.),
· Introduction to market opportunity,
· Brief description of the company, and
· A description of the unsatisfied need that creates the business opportunity
2. Mission and Vision Statement & Company Description
The Mission and Vision should be carefully crafted. You should see evidence of how your operational, financial, and marketing plans are executed in light of the mission and vision.
Company Description (proposed new organization)
◉ Type of Business and Legal Structure (e.g., LLC, sole proprietorship)
◉ Mission and Objectives
◉ Distinctive Core Competencies
3. Industry Analysis and Trends (state of the industry, market research, barriers to entry, identifying competitors, identifying market niche, expert advice, competitive analysis, strategic positioning).
◉ The history of the industry
◉ Size of the industry
◉ Industry evolution
◉ The trend--where the industry is expected to be in five to ten years
◉ The key players in the industry (those who do something like this well and those who do not).
◉ Barriers to entering the market
4. Strategic Positioning, Strategic Intent (Measurable Goals)
Competition strengths and weaknesses (using SWOT, AAA, and other matrices)
◉ Marketing Plan Analysis
◉ 4 Ps (https://www.extension.purdue.edu/extmedia/ec/ec-730.pdf)
5. Product / Service (define product or service, what makes the product worthwhile, liability concerns, expert advice)
◉ How does the position in the Product Life Cycle affect this Business Plan?
◉ How does the position in the Industry Life Cycle affect this Business Plan?
6. Management Plan (hiring projections, board of directors or advisors, outside professionals, licenses, expert advice)
Management and Ownership
◉ Board of directors and rationale for members
◉ Management staff structure
◉ Key managers
◉ Plans to Attract, Develop and retain key personnel
◉ Future additions to the current management team
◉ Compensation plan
◉ Insurance plan
◉ Government Rules and Regulations that might apply
◉ Answer Drucker’s Five Questions at it relates to your business http://www.inc.com/peter-economy/5-essential-questions-entrepreneurs.html
7. Marketing Plan (defining the product, defining the customer, selling prices, place, promotion, follow-up plan, and expert advice).
◉ What is the competitive advantage that this business will create?
◉ Major characteristics of the target market (what does the customer look like?) ◉ What is the demand of this target market?
◉ Nature of the competition.
◉ What are total sales to this market in geographic area?
◉ What are total sales expected in five years? In ten years?
◉ What percentage of this demand does this business expect to capture?
◉ What are the four P’s?
◉ Overall marketing strategy
◉ Specific marketing mix
◉ Strengths and weaknesses in ability to satisfy target market needs ◉ Communication plan internally and externally
8. Operations Plan (operations for product or service from the beginning to the end of the supply chain (Cradle to Cradle) of the supply chain, technology, expert advice).
Key suppliers, Customers
Operations
◉ Production and Service Delivery Procedures
◉ Supply Chain
◉ Transportation
Products and services
◉ Detailed Product/Service Description
◉ Product Life Cycle
◉ Copyrights, Patents, and Intellectual Property Rights
◉ Research and Development Activities
Environmental scan
◉ Significant factors in the macro environment
◉ Clear statement of the opportunities and threats through SWOT analysis
Products and Services
◉ Detailed Product/Service Description
◉ Product Life Cycle
◉ Copyrights, Patents, and Intellectual Property Rights
◉ Research and Development Activities
9. Financial Plan (income statement, balance sheet, cash flow statement, personal financial statement [not included in student plan – but students need to be aware of this requirement], financial ratios, forecasts, expert advice).
· Financial Analysis
◉ Funds required and their uses
◉ Current funding requirements
◉ Funding requirements over the next three years
◉ Use of funds
◉ Loss Control
◉ Retention of Personnel
· Financial statements for first three years (monthly first year and annually for years two and three) (may use template)
◉ Income statements
◉ Balance sheets
◉ Cash flow statements
◉ Determine capital requirements
10. Action Plan: Steps to take to implement business plan including performance evaluation criteria.
11. Conclusions and Recommendations
● Conclude why your business is a viable business venture (or a viable business/strategic path for the client company.
• Explain why the student should or should not pursue the business venture at this time (or why or why not the client
business should pursue the path under investigation)
12. Appendices & Reference Section (Reference section will include at least 35 sources for research for the business plan and APA citation will be provided for each source). Examples for other Appendices include:
a. Key employee resumes, product and advertising samples, press clippings
b. First impression collateral (e.g. cover letters for sources of income, brand, printing, design, charts, graphs and tables, multimedia presentations)
c. Information that creates capital (market research, communication plan, financing, websites, trade groups and associations)
References
This section continues with the Arabic numbering of pages. Only sources of information that have actually been cited in the project are included here.
Appendices
The appendices continue with the Arabic numbering of pages from the previous section.
|
|
EXEMPLARY |
PROFICIENT |
DEVELOPING |
EMERGING |
|
Content Acc
Content Accuracy |
36
The content of the business plan is thoughtful and accurate. A good blending of course material and personal experience with strategies. There are no factual errors. Applies terminology and concepts appropriately. Utilizes all of the text books and at least ten other primary resources. |
33
Most of the content of the Final Business Plan is accurate and a strategy for implementation is clear, but there is one piece of information that seems confusing. Applies most terminology and concepts appropriately. |
30
The content of the Business Plan is generally accurate, but one piece of information is clearly inaccurate. Applies some terminology and concepts appropriately. |
26
The content is confusing or contains more than one factual error. Does not apply legal terminology and concepts appropriately. |
|
Writ/Org
Writing and Organization |
36
Writing, graphs and charts are logical and organized. Sentences are well-phrased and varied in length and structure. Word choice is consistently |
33
Writing, graphs and charts are generally logical and organized. Sentences are well-phrased and varied in length and structure. Word choice is generally precise |
30
Writing, graphs or charts lacks logical progression or organization. Sentences are awkward and often unclear. Word choice is acceptable but range of words is |
26
Writing is not logical or organized. Sentences do not form a cohesive whole and structure of sentences is distracting and confusing to the |
|
|
precise and accurate. The writing is free of errors in grammar, spelling and writing mechanics. The report is the specified length of the assignment. APA is flawless. |
and mostly accurate. There are occasional errors in grammar, spelling and writing mechanics. The report is the specified length of the assignment. |
limited or lack precision. The writing has errors which impact the understanding of the report and cause a distraction. The report is shorter than the specified length of the assignment. |
reader. Words are used inappropriately. There are several errors in grammar, spelling and writing mechanics. The report if shorter than the specified length of the assignment. |
|
Theory/Conc
Understanding of Theory and/or Critical Concepts |
36
Communicates a exemplary understanding of what it takes to begin a business, gain funding and meet legal and ethical requirements. Explains strategy in own words using concepts and theory or concepts appropriately in the assignment.
|
33
Communicates a good understanding of what it takes to begin a business, gain funding and meet legal and ethical requirements for a new business. Explains strategy in own words using concepts and theory or concepts appropriately in the assignment.
|
30
Communicates some understanding of what it takes to begin a business, meeting legal and ethical standards, but relies on more paraphrasing and quoting than own words and sometimes uses the theory or concepts appropriately in the assignment. |
26
Does not communicate understanding of business law theory. Relies on paraphrasing and quoting and does not uses theory or concepts appropriately in the assignment.
|
|
App of Theory
Application of Theory |
36
Consistently applies theories from accounting, finance, innovation, marketing, management and strategy as examples, while using personal experience, and in |
33
Generally applies theories from accounting, finance, innovation, marketing, management and strategy as examples, while using personal experience, and |
30
Inconsistently applies theories from accounting, finance, innovation, marketing, management and strategy as examples, while using personal experience, and in |
26
Rarely or never applies business law theory to practice, examples, experience, and/or “real world” situations in a thoughtful or meaningful way. Does not take |
|
|
a thoughtful and meaningful manner applies them to their Business Plan. Takes theory beyond traditional applications. |
in a somewhat thoughtful and meaningful manner applies them to their Business Plan. Takes theory beyond traditional applications. |
a thoughtful and meaningful manner applies them to their Business Plan. Takes theory beyond traditional applications. |
theory beyond traditional applications. |
|
Synthesis
|
36
Surprisingly and insightfully takes ideas, theories, processes, and/or principles into new territory, broader generalizations, hidden meanings and implications. Demonstrates an ability to take the program and course material and use it in his/her life. Clearly evaluates the power and relevance of these ideas in multiple situations and settings. |
33
Takes ideas, theories, processes, and/or principles into new territory, broader generalizations, hidden meanings and implications. Evaluates the power and relevance of these ideas in multiple situations and settings. |
30
Sometimes, takes ideas, theories, processes, and/or principles into new territory, broader generalizations, hidden meanings and implications. Sometimes, evaluates the power and relevance of these ideas in multiple situations and settings. |
26
Rarely or never takes ideas, theories, processes, and/or principles into new territory, broader generalizations, hidden meanings and implications. Rarely or never evaluates the power and relevance of these ideas in multiple situations and settings. |
