Assignment:
You will prepare a business plan with a systematic approach for a specific product. This project incorporates all that you have learned and summarizes what the business plan is all about. The paper should be 6-8 double-spaced pages in length.
A. Focus of the project
1.Product Development
You should select either a consumer product or service. The type of business should be clearly defined.
2.Opportunity Identification
You should collect data to identify and evaluate potential market opportunities for your business. You should use a number of criteria, (i.e. population size, general business environment, and regulations) to support your decision. This part should include indicators of both market potential as well as market threats.
3. Developing a business plan for a business
This part consists of developing a strategic business plan for a business of your choice. You need to identify the best types of business entity (sole proprietorships, partnerships, and corporations), your marketing plan(the potential target market and the marketing mix). Your management plan(identify the opportunity, threats and strengths, and weakness of the business.
B.Model outline for the project
The following outline is the suggested topics to be addressed within the project. They are guidelines only, and may be modified as appropriate, following student consultation with the instructor.
1.Identification of company's strengths and weaknesses
2.Opportunity identification and analysis
3.Financial resource analysis
4.Potential market trends and demand
5.Marketing plan(target market, product, price, promotion and place)
6.Staffing analysis
7.Impact of economic trends
8.Selection of types of business entity
C.Evaluation of the project and presentation
1.The completeness of your business plan
2.The soundness of your analysis
3.The effectiveness of your presentation
4.Visual aid and business attire are highly recommended