Entrepreneurship & SMEs
Learning Outcomes
Build a business plan by designing a strategic plan, conduct a feasibility analysis, understand franchising and how to buy an existing business
Develop a marketing plan and how to use e-commerce, create a successful financial plan.
This is an individual piece of work. The assignment is business plan writing. The length of the assignment should be about 3500 words (+/-10%).
The word limit does not include ‘administrative' sections of the assignment: the cover or title page, table of contents, table of figures, reference list, list of works cited, bibliography, or any appendices. Use Harvard Referencing for all Harvard related purposes.
Task:
You are required to write a business plan which will provide direction and increase the probability for success of a business idea within the today contemporary and very competitive market.
The business plan should include at least the following contents / elements:
Part I - 150-200 words
Company overview
Mission statement - the purpose of the business
Vision statement - what the business desires to achieve in the long run
Business Core Values - the operating philosophy and principles that will guide the intern al business conduct as well its relationship with its customers and partners
Part II - 800-1000 words
Objectives - Specific, Measurable and Motivational, Attainable, Realistic, Time Bound
Products
Customers - consumer behavior and customers of the industry
Industry and market analysis
Industry
PESTLE - Political, Economic, Social, Technological, Legal, Environmental conditions and trends (specify those they are opportunities or threats)
Customer
Competition - direct and indirect competitors, market share, strengths and weaknesses
Internal business strengths and weaknesses
Part III - 1500-1800 words
Business differentiation - how it will be achieved and perceived by customers
Competitive advantage - reasons for which customers will choose your business as opposed to other alternatives
Marketing Strategy
Target markets strategy
Marketing mix
Product
Price
Promotion and advertising?
Placement - distribution system?
Sales strategy
Sales monthly forecasting - 2 years period
Part IV -750- 1000 words
Operations Strategy
Business operations model
Buildings, Equipment, Technology, Cars,
Processes - i.e. Imports, Purchases, Production, Marketing, Sales, Warehouse, Accounting, Human Resource
Management
Organizational structure
Internal employees and external associates (outsourcing)
Part V - 200 - 300 words
Financial 2 year projected budgets
Financial model (own capital, loans, external shareholders) - chart o Administrative & Operating expenses - chart
Selling expenses- chart
Financial expenses - chart
Break Even Point Analysis (sales amount, sales units, and period point)
Cash flow management
Business Plans Templates
Websites - Open Sources
Example of a business Plan
https://articles.bplans.com/a-standard-business-plan-outline/
Writing a successful Business Plan
https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/davelavinsky/2013/08/19/writing-a-business-plan-5-keys-to-your-success/&refURL=https://www.google.com.cy/&referrer=https://www.google.com.cy/
Financial Projections and Forecasting
https://www.entrepreneur.com/encyclopedia/financial-projections
https://quickbooks.intuit.com/r/forecasting/understanding-financial- projections-forecasting/