Assignment:
Project Preparation & Division of tasks amongst members
• Form groups of 4 or 5and choose a project leader for your group.
• Review and distribute project tasks equally between members. Each person is responsible for a specific part, but must have a general idea of the entire business.
• Following earlier feasibility research, prepare a detail business plan to proceed with the business idea.
• During this project, if there is a problem with one team member not completing his/her task, please notify DrPoh. In such cases, the non- performing team member will be required to complete the task individually with no changes to the scope of the project
Learning Outcomes Addressed
CLO 3 Examine how to develop a business model and write a business plan.
CLO 4 Identify how to acquire and manage resources.
CLO 5 Discuss the paths to entrepreneurship.
Business Plan Report
Contents of Business Plan
Create a report in Word. In order to complete this report you would have already carried out market research. You should include the research results in the appendices and make references to them where appropriate throughout the report.Your report will include the following content:
1. Title page
2. Table of contents
3. Executive Summary
Summarize the sections the business plan. Explain why your product/service will be successful.
4. Details of the Company and Business Goals
a. Business Idea& Description
b. Characteristics of product/service &Unique Selling Point (USP)
c. Mission Statement
d. Goals and Objectives (SMART)
e. Location
f. Business Model
5. Environmental analysis
a. Industry analysis (major trends in the industry in which the firm intends to compete along with important characteristics of the industry, such as its size, attractiveness, and profit potential)
b. Characteristics of Target market. Description of process used to arrive at this information (Market Survey/ Online research, interviews, use of secondary data)
c. Competitor analysisof least two major competitors
d. Identification of at least 3 risks associated with running this business and how they would be mitigated.
6. Marketing Plan
General Marketing strategy for the first year including:
a. Product positioning
b. Pricing Strategy
c. Place/Distribution Strategy
d. Promotion Strategy
7. Organizational Structure, HR plan and business operations
a) Summary of investors and managem7ent team
b) Organizational chart for the first year with summarized job descriptions
c) Details of compensation plan for employees, partners and management team.
8. Financial Plan for a year, including:
a. Start-up costs
b. Required investment from the investor, equity offered in return & Return on investment.
c. Other Sources of Funding (investment from partners, funds borrowed from institutions etc)
d. Break-even
e. Profit and Loss Statements or Income Statements
f. Cash Flow for Year 1
All of the Financial Plan should be developed in Excel and copied into the main report. A worded description should be included in the Word document to explain any parts of the Financial Plan.
9. Overall schedule
The schedule should be in the format of milestones critical to the business's success.
General Requirements for Reports produced in Word
a. Spelling errors and language errors must be checked
b. Document must use tables and figures to add value to the report
c. The last section or page must include a bibliography