Homework: Creating a Business Plan
Overview
Regina Poincy-Zimmerman is a highly successful marketing account executive. Regina has noticed her current organization, Genaflek Marketing, is not progressing from use of the traditional print and media marketing methods to the utilization of social media marketing. As a result, Regina has decided to open a business to fill the void in Genaflek's services. Regina has completed an assessment of her personal character traits and discovered she is highly oriented for entrepreneurship. Regina's second step in planning to open a business is to create a business plan.
This homework requires you to consider the components of a business plan. Use your background, experience and one reading of your choice to create a functional business plan for a new company. This choice of a company may be may be a real company with which you are familiar, one that you imagine or create, or Regina's new company.
Instructions
Imagine that you are an organizational consultant hired to analyze a plan for a new organization. In a 1 to 2 pages outline, describe and explain the following:
Part I: The Executive Summary
i. Describe the business and what it does.
ii. Give a synopsis of the primary purpose of the business, its most important responsibilities, and how you plan to accomplish the business purpose.
Part II: Basic Company Information
i. Name.
ii. Address.
iii. Telephone number and fax number.
iv. Date the business was established.
v. Hours of operation.
Part II: The Product or Service Offered
i. Describe the product or service in a logical way. Assume the reader knows nothing about your product or service.
ii. Organize your product line in a thorough manner.
iii. Describe how the product or service satisfies the target market.
Part IV: Facts About Your Industry and Competition
i. Discuss your industry, particularly the historical replication niche in which you plan to place yourself.
ii. Address your competition and your customers, especially how you plan to beat the competition.
Part V: Management, Ownership, and Organization
i. As the owner, this section will be brief. Discuss the business style; sole proprietorship, limited-liability corporation, et cetera. If you are not the owner, a flowchart of the management of the company might be used here.
Part VI: Marketing Plan
i. Describe the manner in which you will get your name out to clients.
Part VII: Plan of Operations
i. This is the most in-depth section of the plan. How do you plan to run your business? Think about day-to-day operations. How will you obtain clients? What services will you offer? How will you satisfy client needs?
Part VIII: Financial Operations
i. For this homework, we will not complete the financial operations section of the business plan. We will revisit this section in a later unit.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.