Phase 1 -
In the first phase you do not need to follow the template. You need to provide a word document with the following items
- the project description
- explain why you need to implement the information/communication system
- market research (any existing software and technologies).
Phase 2 -
1. Business Overview
Include in your overview:
- what your business does, your products or services
- how long you have been operating
- the industry you're in
- point of difference over your competitors-such as different location, cheaper price or better service-and key benefits to your consumers
- where the business will be in two-to-five years and how this will be achieved, e.g. your position financially and in the market place (you may need to complete this after you've worked through the other sections)
2. Products/Services
Describe what you are going to offer your customers, including:
- exactly what you are going to sell or provide and how it will be produced
- branding and packaging (where applicable)
- ongoing product or service development
- your product/service's features and how they compare to major competitors
- the price and how you have determined it (by considering production costs, labour and other overheads)
- any dealings with supplier/s
3. Market Analysis
Research your market and industry. Consider the following sources: industry profiles on IBIS World, trade magazines, government reports, consumer surveys, running focus groups, identifying your competitors etc.
Briefly outline what market your product/service will serve and why. For example, if you plan to publish a magazine, you need to know about publishing trends, online competitors, other publications that cover your market (including their circulation, advertising rates, reader profiles) and identify a viable gap to fill.
Make sure you include:
- who will buy your product or service
- where your market is located: local, regional, state, national or international
- the state of the market: is it growing, declining, segmented?
- market influences such as seasonal price fluctuations or trends
- the price range: based on your target market will it be high, low or in the middle
4. Competition
List details about your competitors including:
- who and where they are
- how you'll position your product or service against them
- your product/service features against theirs and what gives you a competitive edge
- the benefit/s of your service/product to the consumer
- comparison of your pricing, promotion and distribution
5. Marketing Strategy
Show how consumers will find out about your product/service including:
- where, how and when you will promote your product/service such as shopping centre promotions, point of sale, viral marketing, billboards, loyalty schemes, etc
- what type of printed materials you'll create
- your website or online presence
- details and cost of advertising including print, online, TV and radio
- product/service launch plans
- how you will measure the success of your marketing strategy and various promotions
- how pricing will encourage sales (e.g. selling in bulk)
6. Business Structure and Management
Describe the ownership structure (such as sole trader, partnership, company) including:
- reasons for chosen structure
- any trademarks, patents, web addresses and other intellectual property you need to protect
- owners and any legal agreements you may need
- any key staff, their involvement, responsibilities and expected salaries
- your exit strategy
7. Finances
Summarise your financial situation including:
- how you'll finance your business, e.g. business loan, personal funds, investment capital
- costings, including your start-up costs, salary and fixed overheads
- financial projections including how much you will need to make to break even, when you are likely to make a profit and growth expectations
8. Action Plan
Your action plan is the most important part of your business plan. It manages how you're going to achieve your business plan objectives, so review it regularly and use it to control your activities. List the actions by key areas such as:
- establishment
- legal
- finance
- marketing
List the key tasks to be done, by whom and by when. Don't make them too detailed or they become unworkable. If you don't achieve a task, reschedule it, but if it's still not done by the second date, ask why. Is it too large? Is it unclear how it will help the business? Do we have the skills to do it?
Attachment:- Assignment File.rar